The fire resistant tapes market has shown significant growth, expanding from $0.75 billion in 2023 to $0.81 billion in 2024, achieving a CAGR of 7.2%. This growth is driven by stringent safety regulations and an increasing focus on fire prevention in various sectors. The market is expected to reach $1.07 billion by 2028, with a CAGR of 7.3%. Future growth is bolstered by rising demand from emerging economies and investments in safety solutions. Key trends include the integration of fire safety systems into smart buildings and the development of environmentally friendly materials.
Major Driver In The Fire Resistant Tapes Market
The fire-resistant tapes market is expected to expand alongside the rapid growth in the construction industry. Urbanization, population increases, and infrastructure development are fueling demand for these essential safety products, which enhance fire safety in construction projects and ensure compliance with building codes. The Office for National Statistics reported a 5.6% annual growth in construction output for 2022, following a significant 12.8% increase in 2021. This momentum in construction activities is driving the fire-resistant tapes market.
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Fire Resistant Tapes Market Competitive Landscape
Compagnie de Saint-Gobain S.A., 3M Company, Henkel AG & Co. KGaA, Berry Global Inc., E. I. du Pont de Nemours and Company (DuPont), Avery Dennison Corporation, Nitto Denko Corporation, H.B. Fuller Company, Boyd Corporation, tesa SE, ORAFOL Europe GmbH, Rogers Corporation, Lohmann GmbH & Co. KG, Shurtape Technologies LLC, Achem Technology Corporation, Permacel, CCT Tapes, Advance Tapes International Ltd., Tekra LLC, GERGONNE - The Adhesive Solution, AI Technology Inc., Scapa Group Ltd., Americover Inc., Tape-Pak Inc., Nichiban Co. Ltd.
Key Fire Resistant Tapes Market Trend
Companies operating in the fire-resistant tapes market are advancing self-extinguishing and halogen-free tapes to improve fire safety standards. Tesa Tapes Pvt. Ltd. introduced flameXtinct in June 2022, initially effective in construction and now expanding to transport sectors. These innovative tapes not only extinguish flames upon contact but also minimize toxic emissions, ensuring compliance with stringent fire safety regulations in critical environments.
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Fire Resistant Tapes Market Segmentation
The fire resistant tapes market covered in this report is segmented –
1) By Type: Nomex, Acetate, Polyphenylene Sulfide (PPS), Glass Cloth, Polyimide, Polyvinyl chloride (PVC), Other Types
2) By Coating Type: Single Coated, Double Coated
3) By End-Use Industry: Building And Construction, Electrical And Electronics, Automotive, Aerospace And Defense, Other End-Use Industries
By Geography:The regions covered in the fire resistant tapes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the fire resistant tapes market in 2023.
The Fire Resistant Tapes Global Market Report 2024 furnishes information about the global fire resistant tapes market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
