Traffic Control Device Tape Market

Market Synopsis:

The Global Traffic Control Device Tape Market was valued at USD 3,619.4 Million in 2021 and is projected to reach a value of USD 4,822.6 Million by 2028. The Global Market is forecast and grow by exhibiting a Compound Annual Growth Rate (CAGR) of 4.60% over the forecast period.

Tapes for traffic control devices are frequently used to regulate foot and automobile traffic. When a road is closed or in case of a hazard, these serve as transient traffic signals to reroute traffic. Due to their widespread availability in the market, demand for traffic control device tapes is expected to increase steadily in the coming years. To catch the attention of drivers, these are offered in either orange-white or solid color combinations. These include the extras and marking tapes needed for guarding areas and guiding traffic or people. Population growth and increasing traffic congestion in urban areas drive global demand for specialized traffic management systems. Another significant element projected to propel the Traffic Control Device Tape Markets growth in coming years is peoples rising use of private vehicles in both developed and developing nations. Another crucial aspect that is anticipated to favorably impact the Traffic Control Device Tape Market growth is the ability of these tapes to give markings for traffic control areas or work zones and provide excellent visibility in the dark. In addition, Traffic Control Device Tape sales are anticipated to expand due to strict government regulations to enhance passenger safety and urgent demand for operational effectiveness.

However, the sales of traffic control device tapes may be hampered in the following years by rising volatility in raw material prices. In addition, the infrastructure required should be pretty advanced since traffic management systems need to analyze enormous amounts of data in real-time. Unfortunately, the ability of the governments of various developing nations to invest more in the construction of road infrastructure is restricted. This aspect could provide a significant obstacle in the global market in the upcoming years.

Market Segmentation:

The Traffic Control Device Tape Market is segmented based on Material Type, Product Type, Application, and Region. Based on Material Type, the market is sub-segmented into Polyethylene, Polypropylene, Nylon, and Other Materials. Furthermore, based on the segment Product Type, the market is sub-segmented as Adhesive and Non-adhesive. Finally, based on the segment Application, the market is sub-segmented into Construction Industry, Traffic Enforcement Industry, and Other Applications.

Based on Material Type:

Based on the segment Material Type, the market is sub-segmented as Polyethylene, Polypropylene, Nylon, and Other Materials. The Polyethylene sub-segment is expected to grow significantly over the forecast period. Polyethylene is the most prevalent kind of plastic, which is also an environmentally suitable substitute for PVC films. These films are utilized in numerous applications since they are adaptable, conformable, and have excellent chemical resistance. There are different grades of density and adhesive options for polyethylene film. The main component of polyethylene tape is a Polyethylene film, which serves as the backing. Other features include adhesive or rubber, which serve as the primer.

Based on Product Type:

Based on the segment Product Type, the market is sub-segmented into Adhesive and Non-Adhesive. The Adhesive sub-segment is expected to grow significantly over the forecast period. Specialty and common tapes are the two sorts of adhesive tapes available. Water, solvent, and hot-melt coating methods are all used in adhesive tapes. The demand for lightweight backing materials has recently increased because of technological improvements. Instead of employing screws, fasteners, or welding to attach or join objects, adhesive tapes are material and adhesive film combinations.

Based on Applications:

The Construction Industry sub-segment of the Application segment accounted for the largest market share in 2021 for the Traffic Control Device Tape Market. This segment is expected to flourish owing to the increasing usage of traffic device tape in the construction industry. In addition, the construction industry is the fastest growing industry that requires high safety standards.

Asia Pacific is Forecast to Grow at the Fastest CAGR During the Forecast Period:

Asia Pacific is expected to grow at the fastest Compound Annual Growth Rate (CAGR) during the forecast period. The immediate need for barricade tapes in densely populated regions, such as India and China, drives the Asia Pacific Traffic Control Device Tape Market share in future years. Companies prefer traffic control device tapes rather than warning or caution signs since painting takes time and causes hassle. Numerous local manufacturers, particularly in China, would open up new economic prospects for the Asia Pacific region. With access to cheap labor and commodities, the nation also exports raw materials to other areas. Manufacturers would be able to increase sales in the Asia Pacific region because of this aspect.

Competitive Landscape:

The key players in the Global Traffic Control Device Tape Market include- 3M Company and others.

Segmentation of the Global Traffic Control Device Tape Market: