The global filament tapes market is currently valued at approximately USD 4.9 billion in 2022. Based on projections, it is expected to grow at a compound annual growth rate (CAGR) of 7.8% from 2022 to 2026, reaching a market value of USD 6.6 billion by 2026. Filament tapes are widely used in various industries due to their high tensile strength and durability. They are commonly used for packaging, bundling, and securing heavy or bulky items. The increasing demand for filament tapes in sectors such as logistics, construction, and automotive is driving the market’s growth. The market expansion is expected to continue in the coming years, offering significant opportunities for manufacturers and suppliers in the industry.
Reinforcing filaments, which are typically constructed of fibreglass, polyester, or other sturdy materials, are included in filament tapes, a particular form of pressure-sensitive tape. These tapes, which are utilised for a variety of tasks like packing, bundling, and splicing, are well known for their great tensile strength.
The growing need for packaging supplies across a range of industries, including e-commerce, food & beverage, and healthcare, is what is driving the filament tapes market. Filament tapes are used to reinforce and seal boxes and other packaging materials, therefore the growing trend of online shopping and the demand for packaged goods have increased their demand.
Request Sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-2852
In addition, the increasing focus on sustainability has led to the development of biodegradable and eco-friendly filament tapes, which are made from natural materials such as jute and hemp. These tapes are gaining popularity due to their environmental benefits and are expected to drive the growth of the reinforced adhesive tapes.
The filament tapes market is segmented based on the type of reinforcing filaments, end-use industry, and region. Based on the type of reinforcing filaments, the market is segmented into fiberglass, polyester, and others. Fiberglass filament tapes are the most widely used type due to their high tensile strength and durability.
Based on the end-use industry, the filament tapes market is segmented into packaging, construction, automotive, and others. Packaging is the largest end-use industry for filament tapes, as they are used to seal and reinforce boxes and other packaging materials. The construction industry is also a significant consumer of filament tapes, as they are used to secure pipes, wires, and other building materials.
Geographically, the filament tapes market is segmented into North America, Europe, Asia Pacific, and the rest of the world. North America is the largest market for filament tapes, followed by Europe. The growth of the filament tapes market in these regions is attributed to the presence of major players and the increasing demand for packaging materials.
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.
Request Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-2852
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
Ask an Analyst @ https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-2852
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
About Us:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com