Traffic Control Device Tape Market
Traffic Control Device Tape Market Size, Share & Trends Analysis Report by Material (Polyethylene, Polypropylene, Nylon, Others), by Product Type (Adhesive, Non-Adhesive), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)
|Forecast Years for Traffic Control Device Tape Market:||2022 - 2028|
|Historical Years for Traffic Control Device Tape Market:||2016 - 2021|
|Revenue 2021 for Traffic Control Device Tape Market:||USD 3,619.4 Million|
|Revenue 2028 for Traffic Control Device Tape:||USD 4,822.6 Million|
|Revenue CAGR (2022 - 2028) for Traffic Control Device Tape Market :||4.9%|
|Fastest Growing Region (2022 - 2028) for Traffic Control Device Tape Market:||Asia Pacific|
|Largest Region (2021) for Traffic Control Device Tape Market:||Asia Pacific|
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 4.9% 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 Market's growth in coming years is people's 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.
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.
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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.
The key players in the Global Traffic Control Device Tape Market include- 3M Company, Kruse Adhesive Tape Inc., Nitto Denko Corp., Surface Shields, Scapa, Vibac, Advance Tapes International Ltd. and others.
Segmentation of the Global Traffic Control Device Tape Market:
Regions & Countries Covered
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
Research Methodology: Traffic Control Device Tape Market by Material Type by Product Type by Applications by Region - Global Market Assessment, 2021 - 2028
The next stage involves the primary research conducted to gather further information and revalidate the data collected from the secondary research. Moreover, primary research is also conducted to identify key players in the market and to gather their market-specific financial information. A typical primary interview fulfills the following data requirements:
- First-hand information global market size, regional and segmental trends, competitive landscape
- Validate and authorization of secondary research outcomes and findings
- Further data collection and expertise development & market understandings
Data Triangulation and Market Size Estimations
After the determination of the overall market size through secondary and primary research, the market is divided into various segments and sub-segments. Moreover, top-down and bottom-up approaches were used to derive and estimate market numbers for mentioned segments/sub-segments in the market. During the data triangulation process, the data was analyzed by employing various data models and statistical techniques to arrive at exact statistics and market size for each segment/sub-segment of the market. The data is analyzed and triangulated by considering all the key market impacting factors from both supply and demand side of Traffic Control Device Tape market.
Frequently Asked Questions
the global demand for Traffic Control Device Tape
in terms of revenue?
The global Traffic Control Device Tape valued at USD 3,619.4 Million in 2020 and is expected to reach USD 4,822.6 Million in 2028 growing at a CAGR of 4.9%
are the prominent players
in the market?
The prominent players in the market are 3M Company, Kruse Adhesive Tape Inc., Nitto Denko Corp., Surface Shields, Scapa, Vibac, Advance Tapes International Ltd..
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 4.9% between 2021 and 2028.
the driving factors
fueling the growth of the market.
The driving factors of the Traffic Control Device Tape include
- Growing vehicle and foot traffic
region accounted for the
largest share in the market?
Asia Pacific was the leading regional segment of the Traffic Control Device Tape in 2020.