Aerospace Tapes Market Analysis - Recent Market Developments

11/09/2019

The aerospace tapes market is projected to grow from USD 2.0 billion in 2019 to USD 2.4 billion by 2024, at a CAGR of 4.0% between 2019 and 2024. The major driving factors in the aerospace tapes market are initiatives undertaken by governments of China and India, increasing demand for lightweight and more fuel-efficient aircraft, growing demand for passenger aircraft in emerging regions, and replacement of old/aging aircraft and modernization of existing aircraft.

The key Aerospace Tapes Market players are 3M Company (US), Nitto Denko Corporation (Japan), Avery Dennison Corporation (US), tesa SE (Germany), Scapa Group plc (UK), Intertape Polymer Group (Canada), Compagnie de Saint-Gobain S.A. (France), Berry Global, Inc. (US), Advance Tapes International (UK), Stokvis Tapes BV (Netherlands), Shurtape Technologies, LLC (US), DeWAL Industries (US), MBK Tape Solutions (US), GERGONNE - The Adhesive Solution (France), Adhesives Research, Inc. (US), American Biltrite Inc. (US), Can-Do National Tape, Inc. (US), Av-DEC, Inc. (US), JTAPE Limited (UK), Fralock Innovative Materials Manufacturing & Automation (US), UltraTape (US), and Mask-Off Company, Inc. (US). These players have adopted various strategies, such as merger & acquisition and investment & expansion between 2016 and 2019, to enhance their market shares and expand their global presence.

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Avery Dennison Corporation manufactures, markets, and sells pressure-sensitive materials, self-adhesive base materials, and self-adhesive consumer & office products. The company operates through three business segments, namely, label and graphic materials, retail branding and information solutions, and industrial and healthcare materials.

The company, through its pressure-sensitive product division, manufactures and sells aerospace tapes. The performance tapes product division of the company provides pressure-sensitive adhesive tapes for bonding, sound/ vibration damping, and part protection in the aerospace industry. These tapes have been designed for use during new plane construction and aircraft refurbishment.

In June 2017, Avery Dennison acquired Yongle Tape Company Ltd. (China), a manufacturer of specialty tapes and related products in the industrial sector. This acquisition broadened the product portfolio of Avery Dennison's Industrial and Healthcare Materials business segment.

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tesa SE is one of the leading manufacturers of adhesive tapes and self-adhesive solutions for industry retailers and consumers. It operates through two business segments - direct industries and trade markets. The company sells more than 7,000 products in almost 100 countries and has eight production sites.

In June 2016, tesa invested USD 20 million to expand its Michigan-based adhesive tapes facility. The adhesives tapes produced in this plant are used in various industries such as automotive, medical, healthcare, building & construction, white goods, paper/printings, aerospace & defense, sports, and others.

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Aerospace Tapes Market Analysis - Recent Market Developments

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