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Global Industrial Tapes Market to Reach $13.6 Billion by 2027
In the changed post COVID-19 business landscape, the global market for Industrial Tapes estimated at US$9.8 Billion in the year 2020, is projected to reach a revised size of US$13.6 Billion by 2027, growing at a CAGR of 4.9% over the analysis period 2020-2027. Duct, one of the segments analyzed in the report, is projected to record a 5% CAGR and reach US$4.9 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Aluminum segment is readjusted to a revised 5% CAGR for the next 7-year period.

The U.S. Market is Estimated at $2.7 Billion, While China is Forecast to Grow at 8.3% CAGR
The Industrial Tapes market in the U.S. is estimated at US$2.7 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.8 Billion by the year 2027 trailing a CAGR of 8.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.6% and 4.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.4% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.8 Billion by the year 2027.



Filament Segment to Record 5.4% CAGR
In the global Filament segment, USA, Canada, Japan, China and Europe will drive the 5.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.3 Billion in the year 2020 will reach a projected size of US$1.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 5.8% CAGR through the analysis period.