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- Report code : CMI-3170
- Industry : Consumer Goods
- Published On : Dec 2019
- Pages : 312 Pages
- Format :
Press Release: Filament Tapes Market to Reach US$ 6,909 Million by 2027
Press Release: Filament Tapes Market to Reach US$ 6,909 Million by 2027
Definition of Market/Industry:
Filament tapes are primarily used as a packaging adhesive for sealing heavy weight boxes or materials. The filament tapes are waterproof and chemicals resistant which makes it ideal for transporting heavy objects, strengthening plastic materials, packaging bulky cardboard boxes, sealing hazardous materials, and wrapping pipeline and cable. It is classified into low, medium, and high-grade products. It find application across automotive, food and beverage, furniture, consumer goods, specialty vehicle, general industrial, metalworking, military and government, and transportation.
The global filament tape market is estimated to account for US$ 6,909 Million in terms of value and 8,583 Million Square Metre in terms of volume by the end of 2027
Drivers:
Rising demand for corrugated box packaging as it gives lightweight packaging solutions for various end-user industries such as automobile, electronics, and food and beverage is projected to foster the market growth of filament tapes. The increasing introduction of advanced filament tapes is also projected to boost market growth over the forecast period. For instance, in October 2018, Tesa SE launched a new range of premium filament tapes with fiberglass reinforcements. The new filament tapes provide durability in cases where regular strapping tapes are not strong enough to withstand very heavyweight, high abrasion levels, or extreme shear force. It is suited for applications in the metal manufacturing and processing industries.
Growing demand for filament tapes from the automotive industry for interior and exterior applications due to its excellent property of holding adhesives for longer times is further expected to foster the market growth of filament tapes. Rising demand for high-quality sealing and tensile strength packaging during transportation for protecting the product from UV rays and moisture is expected to serve as a driving factor to the market growth of filament tapes.
Asia Pacific region dominated the global filament tape market in 2018, accounting for 35.9% share in terms of volume, followed by North America, and Western Europe, respectively
Market Restraints
Economic downturn coupled with the strict government rules and regulation on filament tape restraining the growth of market. As filament tapes are manufactured from polyvinyl chloride (PVC) and polythene material and they are hazardous in nature and are projected to hinder the market growth of the filament tapes. For instance, According to, stringent EU regulations and FDA regulations restricting the use of harmful chemical substances such as PVC have led to increased demand for environmentally sustainable products.
Market Opportunities
Expanding market of filament tapes in emerging economies due to growing demand for automobile and electronic products which include packaging is projected to offer immense growth opportunity to the market of filament tapes. Booming end-user industries across developing regions such as Brazil, Indonesia, Nigeria, and ASEAN countries is further expected to propel the market growth of filament tapes.
Rising adoption of eco-friendly manufacturing processes for developing tapes for reducing the negative impact of the process in the environment is projected to add immense growth opportunity to the market over the forecast period.
Global filament tape market was valued at US$ 3,750.4 million in 2018 and is forecast to reach a value of US$ 6,909 million by 2027 at a CAGR of 7.1% between 2017 and 2027
Market Trends/Key Takeaways
Increasing adoption of advanced technology such as acrylic adhesive is expected to propel the market growth of filament tapes over the forecast period. Acrylic adhesive is rapidly replacing the traditional liquid and spray adhesives and other bonding and fastener product, as acrylic adhesives used in filament tapes maintain their integrity and stability during processing. This is projected to foster the market growth of filament tapes over the forecast period.
Booming automotive sector is rapidly boosting the demand for filament tapes hence it is projected to fuel the market growth and this can be attributed to the rising focus of manufacturers for reducing the noise from brakes, engine, and other vehicles and automotive manufacture are using advanced thermoplastic and elastomers vinyl as vibration damping materials. High-performance filament tapes are widely used in bikes with these damping materials. This is projected to foster the market growth of filament tapes.
Value Chain Analysis:
Competitive Section:
Key players operating in the market of filament tapes 3M Company, Intertape Polymer Corp, Inc., Tesa Tape Inc., Canadian Technical Tape, Ltd., Saint-Gobain Performance Plastics, Krush Adhesive Tape, Inc., Sekisui TA Industries, LLC, Pro Tapes & Specialties Inc, PPM INDUSTRIES S.P.A.
Few Recent Developments
3M Company
Product line expansion
Intertape Polymer Corp., Inc.
Key Developments:
Filament tapes is a pressure sensitive tape which is used for several packaging functions such as closing corrugated fiberboard boxes, building items and reinforcing packages. It is primarily used as a packaging adhesive for sealing heavy weight boxes or materials. The tape is most often used as a closure for corrugated boxes such as a full overlap box and final panel box.
Market Dynamics
Rising packaging industry driving the global filament tape market during forecaste period. According to India Brand Equity Foundation (IBEF), India packaging industry was valued at US$ 28 billion in 2014 with a witnessing CAGR of 15% during forecast period (2004-2014).
Rising production of bio-based adhesives tapes materials by the manufacturer is projected to hinder the market growth of filament because bio-based adhesives require high-capital and this could act as a challenge to the market of filament tapes. Moreover, decreasing the profitability margin of filament tapes manufacturer due to intense competition among producers for low-cost products is also protected to restraint the market growth of filament tapes over the forecast period.
North America region accounted for significant market share in the global filament tapes market owing to rising demand for high-quality sealing and tensile strength packaging during transportation. Filament tapes helps for protecting the product from UV rays and moisture is expected to serve as a driving factor to the market growth of filament tapes. These are the factors driving North America filament tapes market.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
* Browse 25 market data tables* and 15 figures* on “Filament Tapes Market” - Global forecast to 2027.
Asia Pacific Intelligence Center (India): 