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Dubai, UAE, June 15, 2021 /PRNewswire/ - The global anti-corrosion tape market is steadily expanding, with a compound annual growth rate of over 4.5% during the entire forecast period of 2021 and 2031.
According to Future Market Insights, an ESOMAR-certified consulting company, the growing demand for anti-corrosion tapes in various end industries such as aerospace, chemicals, construction and construction will drive market growth.
In the construction and construction industries, anti-corrosion tape is widely used to prevent metal corrosion in pipes, pipes and conduits, which is driving growth. Preference for PVC tape has excellent resistance and corrosion resistance in buildings, which will drive growth during the forecast period.
The expansion of the chemical and construction industries in China, India, the United States, and the United Kingdom is driving the adoption of anti-corrosion tape. According to FMI's analysis, the chemical and construction and construction industries will lead the market growth during the forecast period.
Compared with other alternative adhesives, factors such as the cost-effectiveness and easy availability of anti-corrosion tape are driving end users to increase the consumption of anti-corrosion tape. As a result, the output of market participants has been increased and growth opportunities have been expanded.
The advantages of electrical insulation, flame retardancy, and temperature resistance have promoted the adoption of anti-corrosion tapes in various end-use industries.
The use of polyvinyl chloride (PVC) anti-corrosion tape for better maintenance in the construction and construction and chemical industries will promote market sales. According to the research, it is expected that by 2021, PVC anti-corrosion tape will occupy the largest market share.
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According to FMI's market research, by 2031, the valuation of the anti-corrosion tape market is expected to reach USD 1.788 billion.
"Market participants are increasingly focusing on investment and R&D activities to expand their production capacity to increase revenue. The expansion of end-use industries such as chemical, marine and construction in emerging economies is creating profitable opportunities for market participants," FMI analyst said.
The key points of FMI anti-corrosion tape market research
The global anti-corrosion tape market is moderately consolidated, and market participants are paying more and more attention to the development of new products. Leading companies are expanding their global footprint through strategic mergers, partnerships and acquisitions.
In September 2020, Vestas, a leader in sustainable energy solutions, and Hempel, a leading paint supplier, announced the establishment of a partnership to cooperate and commit to the development of innovative solutions for the surface protection of wind turbines. Through this partnership, both companies are focused on developing sustainable innovative solutions to curb carbon emissions.
In May 2020, another leading company, Hempel, invested approximately US$3.51 billion in its new plant in China, Yantai Chemical Park, and invested approximately US$3.51 billion to achieve a production capacity of more than 100,000 tons/year to produce sustainable coating solutions.
In addition, Arsenal Capital Partners announced the acquisition of Canusa-CPS and Dhatec through its Seal for Life Industries subsidiary in December 2020, aiming to expand its corrosion protection solutions.
MTorres announced its new patented dry carbon fiber tape in January 2021, which can be directly used in aerospace composite materials and automation together with liquid resin infusion and resin transfer molding.
Some of the well-known market participants operating in the anti-corrosion tape market introduced by Future Market Insights include:
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More insights on the global anti-corrosion tape market
In its latest research, Future Market Insights conducted a detailed analysis of the global anti-corrosion tape market, providing historical data for the period 2016-2020 and forecast statistics for the period 2021-2031. In order to understand the potential, growth and scope of the global market, the market is segmented according to the following factors:
Key issues covered in the report
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About Future Market Insight (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving customers in more than 150 countries. FMI is headquartered in Dubai and has delivery centers in the United Kingdom, the United States and India. FMI's latest market research reports and industry analysis can help companies confidently and clearly respond to challenges and make key decisions in the fierce competition. Our customized joint market research reports provide actionable insights to drive sustainable growth. FMI's expert-led analyst team keeps track of emerging trends and events in various industries to ensure that our customers are prepared for the ever-changing needs of consumers.
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