Filament tapes market

Filament Tapes Market, by Filament Type (Single Sided Tapes, and Double Sided Tapes), by Backing Adhesive Type (Plastic Film, Paper, Fabric, and Foam), by Adhesive Type (Rubber Based, Acrylic Based, and Hot Melt Adhesive), by Width (12mm, 18mm, 24mm, 36mm, 48mm, 72mm, and Others), By Application (Bundling, Strapping, Carton Sealing, Sealing, and Others), By End-use (Building & Construction, Food & Beverages, Electrical & Electronics, Automotive, Healthcare & Hygiene, Printing, Metalworking, Oil & Gas, General Industrial and Consumer Goods) and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

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Jan 2021
CMI3170
312 Pages
Excel & Pdf
Consumer Goods

Summary

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 tapes market is estimated to surpass US$ 6,985.6 million by the end of 2027 in terms of revenue, exhibiting a CAGR of 7.1% during the forecast period (2020 to 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. 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.

Among region, Asia Pacific held dominant position in the global filament tapes market in 2019, accounting for 35.9% market share in terms of revenue, followed by North America and Europe.

Figure 1. Global Filament Tapes Market Revenue Share (%), By Region, 2019

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.

Filament Tapes Market Report Coverage

Report Coverage	Details
Base Year:	2019	Market Size in 2019:	US$ 4,016.7 Mn
Historical Data for:	2017 and 2018	Forecast Period:	2020 to 2027
Forecast Period 2020 to 2027 CAGR:	7.1%	2027 Value Projection:	US$ 6,985.6 Mn
Geographies covered:	Regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa
Segments covered:	By Filament Type: Single Sided Tapes, and Double Sided Tapes By Backing Adhesive Type: Plastic Film, Paper, Fabric, and Foam By Adhesive Type: Rubber Based, Acrylic Based, and Hot Melt Adhesive By Width: 12mm, 18mm, 24mm, 36mm, 48mm, 72mm, and Others By Application: Bundling, Strapping, Carton Sealing, Sealing, and Others By End-use: Building & Construction, Food & Beverages, Electrical & Electronics, Automotive, Healthcare & Hygiene, Printing, Metalworking, Oil & Gas, General Industrial and Consumer Goods.
Companies covered:	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., and PPM INDUSTRIES S.P.A.
Growth Drivers:	Rising demand for corrugated box packaging Growing demand for filament tapes from the automotive industry for interior and exterior applications
Restraints & Challenges:	Strict government rules and regulation on filament tape

Market Trends

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.

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.

Figure 2. Global Filament Tapes Market Revenue Share (%), By Application, 2019

On the basis of application, in 2019, carton sealing segment dominated the global filament tapes market accounting for 39.4% share in terms of volume owing to growing e-commerce and packaging industry.

Global Filament Tapes Market - Impact of Coronavirus (Covid-19) Pandemic

COVID-19 is spreading rapidly and has affected 210 countries. Effects of virus are felt around the world, however public construction activities have been maintained to some extent. However, the construction activities are expected to halt due to supply chain disruption owing to shortage of materials and sub-contractors. The residential & non-residential sectors, have faced significant supply chain disruptions and many have stopped the projects. This is expected to hamper the demand for filament tapes from construction sector. However, in the long term, i.e. in the next few years, filament tapes are expected to witness a steady demand and the global market is expected to reach US$ 6,985.6 Mn by 2027.

Competitive Section

Key players operating in the global filament tapes market include 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., and PPM INDUSTRIES S.P.A.

Table of Content

* Browse 25 market data tables* and 15 figures* on "Filament Tapes Market” - Global forecast to 2027.

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- Frequently Asked Questions -

What will the market size be in 2027?

The global filament tapes market is estimated to surpass US$ 6,985.6 million by 2027 and is expected to exhibit a CAGR of 7.1% between 2020 and 2027.

What are the major factors that are expected to drive growth of the global filament tapes market during the forecast period?

The rising demand for corrugated box packaging is expected to drive the market growth during the forecast period.

What are the trends in the global filament tapes market?

Increasing adoption of advanced technology such as acrylic adhesive is expected to propel the market growth of filament tapes over the forecast period.

What are the key factors hampering growth of the global filament tapes market?

Economic downturn coupled with the strict government rules and regulation on filament tape restraining the growth of market.

Which are the key players in the global filament tapes market?

Major players operating in the global filament tapes market include HELIOS, Allnex Netherlands B.V., Indogem Enamels Private Limited, Surface Technology plc, Tristar Coatings Ltd., Hempel A/S, Axalta Coating Systems, PPG Industries, Inc., The Sherwin-Williams Company, and Teknos Group

What is the current market size?

The global filament tapes market was valued at US$ 4,016.7 million in terms of revenue in 2019.