Demand for Duct Tape to Increase 3.6% Annually Through 2022
June 13, 2018 (Investorideas.com Newswire) Demand for duct tape is projected to increase 3.6% per year to $403 million in 2022, above the average of PSA tape overall. Rising spending on building and construction will boost demand for HVAC systems, which will support sales of higher-value professional grade duct tape, driving dollar gains. Broader distribution beyond hardware and home goods stores has also contributed to rising sales, with duct tape often found in crafts stores, drug stores, and mass retail stores. Going forward, advances will be aided by ongoing interest in creative and decorative options for duct tape, as well as demand for higher-performing grades in maintenance applications. These and other trends are presented in Pressure Sensitive Tapes in the US, 12th Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm.
Pressure sensitive tape demand overall is relatively acyclical, due to its use in multiple applications. Prices will increase, reflecting the higher value of specialty tapes and rising prices for oil, a key raw material in the manufacture of PSA tapes. The US remains a net exporter of PSA tapes, owing to its technological expertise and specialty offerings. PSA tapes exhibit performance advantages over competitive joining and sealing methods, such as welding and mechanical fasteners.
Consumer electronic devices - including thermostats and appliances - are increasingly interconnected via internet to enhance efficiencies. Known as the Internet of Things (IoT), this network enables users to remotely monitor and control devices in their homes. As the number of electronic devices per house increases, PSA tapes will see increased use, both in the manufacture of these products and among end users who opt to mount their devices or bundle and support wires and cables.
Pressure Sensitive Tapes in the US, 12th Edition (published 6/2018, 166 pages) is available for $5500 from The Freedonia Group. For further details or to arrange an interview with the analyst, please contact Corinne Gangloff by phone 440.684.9600 or email firstname.lastname@example.org.
Related studies include:
#3623 Adhesives & Sealants in the US, 3rd Edition (April 2018)
#3585 Labels Market in the US, 12th Edition (November 2017)
About The Freedonia Group, a division of MarketResearch.com - The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Packaging studies can be purchased at https://www.freedoniagroup.com, www.marketresearch.com and www.profound.com.
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