DowDuPont (US) and Compagnie de Saint-Gobain S.A. (France) are the Key Players in the Surface Protection Tapes Market
The surface protection tapes market is estimated at USD 12.3 billion in 2019 and is projected to reach USD 18.0 billion by 2024, recording a CAGR of 8%. The demand for surface protection tapes is driven by the growing use of these tapes due to their durability, ease of application, and ease of removal properties.
The surface protection tapes market is led by major players such as DowDuPont (US), Compagnie de Saint-Gobain S.A. (France), 3M (US), Toray Industries, Inc. (Japan), and Chevron Phillips Chemical Company (US). These players have adopted various growth strategies to increase their market share, enhance their product portfolio, and expand their market share. Expansions, investments, mergers, acquisitions, new product launches, and partnerships are some of the major strategies adopted by leading players operating in the surface protection tapes market. The years 2017 and 2018 witnessed a large number of mergers and acquisitions by the players in the market.
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Mergers & acquisitions accounted for the largest share of all strategic developments in the surface protection tapes market during 2017–2018. Companies such as DowDuPont (US), Berry Global Inc. (US), Compagnie de Saint-Gobain S.A. (France), Tesa SE (Germany), and Intertape Polymer Group (Canada) adopted this strategy, to expand their geographical reach, seize new projects, strengthen their product & service portfolios, and cater to the untapped markets in the surface protection tapes market.
DowDuPont (US) is an active player in offering protection films to various end-use industries. For instance, it provides polyvinyl fluoride (PVF) films for industrial applications. In addition, the company owns a number of patents in the US as well as other countries across regions. It has a strong foothold across the globe with a presence across Africa, the Asia Pacific, Europe, the Middle East, South America, and North America. Diverse product portfolio and its global reach help the company to have a balanced as well as diversified risk profile. In September 2017, DuPont (US) and Dow Chemicals (US) agreed to merge, to form DowDuPont, with a motive to improve their market growth. DowDuPont would perform as a holding company after this merger. Through this merger, the company aims to attain sustainable growth through the expansion of its product portfolio and strengthen its R&D capabilities.
Compagnie de Saint-Gobain S.A. (France) is one of the key industrial groups at a global level. It designs, manufactures, and supplies materials as well as solutions for transportation, building, infrastructure, and industrial applications. The company operates through its four business segments, namely, building distribution, construction products, innovative materials, and others. Saint-Gobain’s tape solutions provide a range of solutions for the bonding, protection, as well as insulation applications to different sectors. In July 2017, Saint-Gobain signed a purchase agreement to acquire 100% equity capital of TekBond (Brazil). TekBond supplies a broad range of adhesives, sealants, sprays, and masking tapes and is the second-largest adhesive manufacturer in Brazil that operates in the construction and automotive markets. This acquisition was made by Saint-Gobain to expand its surface protection tapes business in Brazil.
Key market players have adopted various strategies for merger & acquisition in developed and emerging countries. The Asia Pacific region dominated the surface protection tapes market in 2018. This is attributed to the rise in demand for surface protection tapes due to their durability, ease of applicability, and smooth & easy removal.
Related Reports:
Surface Protection Tapes Market by Type (Polyethylene, Polypropylene, Polyvinyl chloride), Surface Material (Polished metals, Glass, Plastic) End-use (Electronics & appliances, Building & construction, Automotive), and Region - Global Forecast to 2024
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