The “Fire Resistant Tapes Market by Coating Type, Type (Nomex, Acetate, PPS, Glass Cloth, PVC, Polyimide), End-Use Industry (Building & Construction, Electrical & Electronics, Automotive, Aerospace & Défense), and Region – Global Forecast to 2028” report estimates a USD 0.8 billion market in 2023 and a CAGR of 6.0% from 2023 to 2028. Several factors are driving the growth of the Fire-Resistant Tapes Market, including rising demand from building applications, increased use of fire-resistant materials in a variety of industries, and rising demand for fire-resistant tapes from the automotive industry. The high processing and manufacturing costs of fire-resistant tapes, as well as a lack of uniformity in manufacturing processes, may limit market expansion.
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Driver: High demand for fire resistant tapes in electric vehicles
The growing demand for fire-resistant tapes in electric vehicles is a key factor driving market expansion. Electric vehicles (EVs) are gaining popularity due to their environmental benefits and rising need for renewable energy. They do, however, represent unique fire safety concerns due to their high-voltage battery systems and the possibility of thermal runaway, which can result in fires. Fire-resistant tapes are used in electric vehicles to offer electrical insulation while also protecting against heat and environmental elements. They are used on battery cells, busbars, and other components to avoid short circuits, overheating, and fires.
Based on coating type, double coated type is anticipated to register the highest CAGR in the Fire-Resistant Tapes Market.
Double-coated fire-resistant tapes are specialized goods with flame-retardant coatings on both sides to increase fire resistance. These tapes are commonly used in applications that require high levels of flame resistance since they are designed to meet tight fire control standards. They adhere consistently to a wide range of surfaces and are suitable for flame retardant laminating applications. Double-coated fire-resistant tapes provide a strong adherence to a wide range of surfaces and better fire resistance. They are especially useful in specific applications where high-performance adhesion and flame resistance are required. They are suited for applications that require flame protection on both sides of the material.