The estimated value of the worldwide filament tapes market in 2022 is USD 4.9 billion. It is predicted that between 2022 and 2026, it would expand at a compound yearly growth rate (CAGR) of 7.8%, reaching a market value of USD 6.6 billion. Due to their great tensile strength and longevity, filament tapes are utilised extensively across a variety of sectors.
They are frequently employed for bundling, packing, and fastening large or heavy products. The market is expanding as a result of the rising demand for filament tapes in industries like logistics, construction, and automotive. In the upcoming years, the market is anticipated to continue to grow, presenting great potential for manufacturers and suppliers in the sector.
Filament tapes, a particular kind of pressure-sensitive tape, contain reinforcing filaments, which are often made of fibreglass, polyester, or other durable materials. These tapes are well recognised for their high tensile strength and are used for a range of jobs including packaging, bundling, and splicing.
The market for filament tapes is being propelled by the expanding need for packaging supplies across a number of sectors, including e-commerce, food & beverage, and healthcare. The expanding trend of online shopping and the demand for packaged items have both increased the demand for filament tapes because they are used to reinforce and seal boxes and other packaging materials.
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Additionally, the growing emphasis on sustainability has sparked the creation of biodegradable and environmentally friendly filament tapes manufactured from organic materials like jute and hemp. These tapes are predicted to fuel the rise of the reinforced adhesive tapes because of their advantages for the environment.
The geography, end-use industry, and kind of reinforcing filaments are used to segment the filament tapes market. The market is divided into fibreglass, polyester, and other categories according on the kind of reinforcing filaments used. Due to its great tensile strength and endurance, fibreglass filament tapes are the type that are used the most frequently.
The filament tapes market is divided into packaging, construction, automotive, and other segments based on the end-use industry. The primary application of filament tapes, which are used to reinforce and seal boxes and other packing materials, is in the packaging sector. Due to their usage in securing pipes, wires and other building components, filament tapes are a key consumer in the construction sector.
The filament tapes market is divided into four geographic segments: North America, Europe, Asia Pacific, and the rest of the globe. The biggest market for filament tapes is in North America, followed by Europe. Due to the presence of key players and the rising demand for packaging materials, the filament tapes market has expanded in these regions.
Asia Pacific is expected to be the fastest-growing market for filament tapes, due to the increasing demand for packaged products and the growing construction industry in the region. The increasing population and economic growth in countries such as China and India are also expected to drive the growth of the filament tapes market in the region.
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Key Takeaways of Filament Tapes Market Study
- Single-sided tapes account for over 50% share of the overall filament tapes market. However, double-sided tapes are expected to register high incremental opportunity in comparison with single-sided tapes, owing to their multi-functional ability and high performance characteristics.
- Amongst the adhesive types, rubber-based and acrylic-based adhesive types would account for over 70% market share, cumulatively.
- As per FMI analysis, carton sealing is major application of filament tapes, followed by insulation and bundling. Cartons that need to be transported require sturdy packaging to prevent products from getting damaged. Due to increase in e-Commerce spending and growth of the FMCG sector, the carton sealing application is expected to remain prominent throughout the forecast period.
- Automotive and electrical & electronics industries, cumulatively, would maintain their primacy in the filament tapes market. However, due to the impact of the COVID-19 outbreak, growth is anticipated to take a dip in the near term.
- Application of filament tapes is likely to surge in shipping & logistics and food & beverages, attributable to increasing shift of customers towards essential goods.
Competitive Landscape
The key manufacturers operating in filament tapes market are trying to focus on increasing their production capacity to meet the increasing demand for filament tapes. Moreover, the key players are increasing their product portfolio to cater for the growing filament tapes market.
- The company named 3M offers See Scotch® Filament Tapes which include continuous fibers reinforcing the carrier to make it stronger, help resist damage and stop tears from migrating across the tape.
Key Players:
- 3M Company
- Intertape Polymer Corp, Inc.,
- Tesa Tape Inc.,
- Canadian Technical Tape, Ltd.
- Saint-Gobain Performance Plastics
- PPM INDUSTRIES S.P.A.
- Cosmos Tapes & Labels Private Limited
Regional Outlook
This section of the report provides key insights regarding various regions and the key players operating in each region. Economic, social, environmental, technological, and political factors have been taken into consideration while assessing the growth of the particular region/country. The readers will also get their hands on the revenue and sales data of each region and country for the period 2023-2033.
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Filament Tapes Market by Category
By Filament Type, Filament Tapes Market is Segmented as:
- Single Sided Tapes
- Double Sided Tapes
By Backing Adhesive Type, Filament Tapes Market is Segmented as:
- Plastic Film
- Polypropylene (PP)
- Polyvinyl Chloride (PVC)
- Polyethylene (PE)
- Polyester (PS)
- Others
- Paper
- Fabric
- Foam
By Adhesive Type, Filament Tapes Market is Segmented as:
- Rubber Based
- Natural Rubber
- Synthetic Rubber
- Acrylic Based
- Hot Melt Adhesive
By Width, Filament Tapes Market is Segmented as:
- 12 mm
- 18 mm
- 24 mm
- 36 mm
- 48 mm
- 72 mm
- 96 mm
By Application, Filament Tapes Market is Segmented as:
- Bundling
- Strapping
- Insulation
- Carton Sealing
- Sealing
- Others
By End Use, Filament Tapes Market is Segmented as:
- Shipping & Logistics
- Building & Construction
- Food & Beverages
- Electrical & Electronics
- Automotive
- Healthcare & Hygiene
- Printing
- Metalworking
- Oil & Gas
- General Industrial
- Consumer Goods
By Region, Filament Tapes Market is Segmented as:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific
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