Electronics, packaging, and chemicals are some of the key industries that are encompassed by the global specialty tapes market. The use of these specialty tapes is just not limited to a specific vertical as several new players from different end-use industries have recently come up. The advanced application of the specialty tapes makes them a very niche segment. The high levels of customization provided by the leading vendors is another salient feature of the competitive landscape of the global market. It is projected that the demand for these specialty tapes will only grow in the near future.
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The production of the specialty tapes involves a highly rigorous procedure testing and analysis. This factor highlights the need for evaluating the supply and demand dynamics of the market. It is imperative to have a properly customized supply to make sure that the right product reaches the appropriate end-user. In addition to this, the demand for these specialty tapes is also high due to the increased use in the manufacturing repairs and across the booming industries such as automobile and electronics.
With the help of high performance adhesives and similar materials for the production of specialty tapes offer a mark of authority to the final product. The specification mentioned before is also responsible for the expensive nature of these specialty tapes. However, the wide range of utilities served by these tapes thus balances out its initial high cost.
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Some of the recent development in the competitive landscape of the global specialty tapes market are given below:
- In 2018, Tesa SE announced that the company has taken over Functional Coatings Inc. This move has considerably enhanced the overall competency of Tesa. Functional Coating Inc. was well known for its expertise in the production of VOC-free adhesive tapes.
- In 2018, 3M announced that the company has completely acquired Acelity Inc. Acelity is a well-known brand in the field of manufacturing specialized wound care technologies and solutions. The overall value of the takeover was quoted around US$1.5 billion.