Waterproof Tapes Market to Grow at 6.97%
The market growth is reportedly driven by the growing demand from end-use industries.
The waterproof tapes market is forecast to reach $13.95 billion by 2022 from $9.96 billion in 2017 at a compound annual growth rate (CAGR) of 6.97%. The market growth is reportedly driven by the growing demand from end-use industries including building and construction, automotive, electrical and electronics, healthcare, packaging, and others. Asia Pacific is expected to lead the market during the forecast period, according to ReportsnReports.com.
Based on region, Asia Pacific is expected to be the fastest-growing waterproof tapes market. The growth of the market in the region is reportedly being majorly driven by the presence of emerging economies, such as China and India. China is projected to lead the waterproof tapes market in Asia Pacific during the forecast period.
Based on adhesive, the silicone segment of the waterproof tapes market is projected to witness the highest growth according to the report. However, stringent environmental regulations in North America and Europe countries may act as a restraint for the growth of the market in the near future.
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