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Corrosion is a naturally occurring chemical reaction in which metals are converted into more stable form by generally forming oxides, hydroxides and sulfides. This is gradual destruction of metal which occurs when metals are exposed to moisture, water, or air. Anti-corrosion tape is one of the material used to prevent corrosion and protect the metal surfaces. These tapes are generally wrapped around the parts of objects or surfaces which are highly prone to the risk of getting corroded.
Increasing demand from multiple application areas like electrical & electronics, marine, aerospace & defense, general manufacturing, oil & gas, and other shall drive the market. Additionally, the increasing demand from construction sector for protecting water pipes, metal wirings and other metal objects shall foster the market growth.
However, new non-corrosive materials are being developed to replace metals. Adoption of such anti-corrosive materials instead of metal shall further limit the market growth for anti-corrosion tape.
Key Market Driver -
Increasing demand from end-use sectors.
Key Market Restraint -
Adoption of non-corrosive materials.
Based on material type, the global anti-corrosion tape market is segmented into polyvinyl chloride, polyethylene, polypropylene, polyolefin, petrolatum. Based on application, market is segmented into building & construction, electrical & electronics, automobile, shipping & logistics, aerospace, defense, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global anti-corrosion tape market consists of global & regional players operating. Some of the key players in the market include 3M Company, Shurtape Technologies, Scapa Group plc, Nitto Denko Corp, Berry Plastics CPG, Innovative Manufacturing Inc., and others.
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to hold the largest share in the market due to the high demand from oil and gas sector. Asia Pacific is expected to show significant growth due to rising constructional activities. The increasing demand electrical and electronics sector for protecting the wires and other components from rusting is one of the factor driving the demand in Asian countries. Europe is expected to show considerable growth due to the adoption of anti-corrosion tapes in automobile sector for protection of automotive parts from rusting due to oil and water. Latin America and Middle East & Africa shall exhibit sluggish growth by the end of forecast period.
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