The global filament tapes market was valued at US$ 3,750.4 Million in 2018, according to Global Filament Tapes Market Report, by Filament Type (Single Sided Tapes, Double Sided Tapes), Backing Adhesive Type (Plastic Film, Paper, Fabric and Foam), Adhesive Type (Rubber Based, Acrylic Based and Hot Melt Adhesive), Width (12 mm, 18 mm, 24 mm, 36 mm, 48 mm, 72 mm and 96 mm), Application (Bundling, Strapping, Insulation, Carton Sealing, Sealing and Others), End Use (Shipping & Logistics, 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, Western Europe, Eastern Europe, and APEJ, Japan & MEA) published by . Filament tapes are produced from polypropylene film which is a glass-reinforced and has rubber-based adhesive materials. It has high tensile strength which can be improved with additional glass fibers and are widely used in packaging and bundling applications. These tapes are consist of a strong carrier coating of hot melt adhesives and laminated with fiberglass filaments to reinforce tear-resistance property. Due to their excellent properties of chemical resistance it is used for strapping of pallets in shipping, packaging of heavy cardboard boxes, and bundling heavy materials The global filament tapes 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: Expanding e-commerce around the globe is another prominent factor expected to augment the market growth of filament tapes. E-commerce is an easy and convenient way of purchasing products that are projected to boost the market of filament tapes. The booming packaging and tape industry due to expanding electronic and electrical packaging industry is another major factor propelling the market growth of filament tapes. Moreover, a growing number of supermarkets, hypermarkets, and convenience stores are compelling the manufacture to provide high-quality products during transportation. Hence, these are the factors expected to boost the market growth of filament tapes. Market Opportunities A growing number of partnerships among manufacturers is another major factor that is expected to add enormous growth opportunity to the market of filament tapes. For instance, in August 2019, Toray Advanced Composites (Morgan Hill, Calif., U.S.) and BASF (Wyandotte, Mich., U.S.) have signed a manufacturing and supply agreement focused on the production of continuous fiber-reinforced thermoplastic tapes for the automotive and industrial markets. Toray Advanced Composites produces glass fiber- or carbon fiber-reinforced tapes using BASF’s Ultramid PA6 (polyamide) engineering thermoplastics. Market Restraints The high cost of the raw materials as the price of film materials, adhesive inks, adhesive resins, and special paper is projected to limit the market growth of filament tapes. Recently the specialty chemicals manufacturing company named Rohm and Haas has raised prices for its industrial adhesives and sealants this will negatively affect the manufacturing cost for filament tapes. Hence, the high cost of filament tapes is projected to hinder the market growth over the forecast period. Key Takeaways: For segment 1 information: Global filament type 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 2019 and 2027 Among backing adhesive tapes, plastic film segment dominated the global filament tape market in 2018, accounting for 43.4 % share in terms of volume this attributed to easy availability of plastic at low cost. Among application, carton sealing segment dominated the global filament tap market in 2018, accounting for 39.4% share in terms of volume owing to growing e-commerce and packaging industry Market Trends Rapidly shifting of production of filament tapes from North America and Europe to the Asia Pacific region is a major trend that has been observed in the market. With a 35% share of the global market, the Asia Pacific filament tape market is growing more dynamically than its economy. Hence this factor is projected to boost the market growth of filament tape over the forecast period. Growing industrialization in the regions and rising need of manufacturers to enhance the manufacturing facility is expected to serve as a major growth opportunity to the market of filament tape. Growing focuses of major players on strategic mergers and acquisitions with other local and regional players in order to increase their product offerings, expand their global footprint and also to minimize operational costs are projected to add immense growth opportunity to the market growth of filament tapes. For instance, in 2015, Intertape Polymer Corp.Inc., invested US$ 27 Mn to acquire RJM Manufacturing, Inc. (TaraTape) and Better Packages, Inc. The acquisition is projected to enhance its product offerings in filament tape and strengthen its water-activated tapes portfolio for the growing electronics market. Competitive Section: Company Names 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 Saint-Gobain Performance Plastics
Tesa Tape Inc.
PPM Industries S.P.A
Segmentation Market Taxonomy: By Filament Type
By Backing Adhesive Type
By Adhesive Type