The global waterproof tapes market is estimated at $9.96 billion in 2017 and is projected to reach $13.95 billion by 2022, at a compound annual growth rate (CAGR) of 6.97% from 2017 to 2022, according to a recent report.
The growing demand from end-use industries, such as building and construction, automotive, electrical and electronics, healthcare, packaging, and others, is expected to fuel the growth of the waterproof tapes market, according to the report. Stringent environmental regulations in North America and Europe countries may act as a restraint for the growth of the market in the near future.
Based on adhesive, the silicone segment of the waterproof tapes market is reportedly projected to have the highest growth during the forecast period.
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