Filament Tapes Market to Witness a Healthy Growth by 2026
In the filament tapes market, the electrical & electronics and automotive segments are collectively generating revenue of USD 1,499 million in 2022, according to the Annual Market Analysis conducted by Future Market Insights.The global filament tapes market is estimated at USD 4.9 billion in 2022 and is projected to reach USD 6.6 billion by 2026, at a CAGR of 7.8% from 2022 to 2026.
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Amidst the COVID 19 pandemic, the e-Commerce industry is likely to grow at an unprecedented pace, which is expected to augment the growth of the filament tapes market. On the flip side, industries such as automotive and consumer goods have been highly affected by the pandemic. As such, growth of the global filament tape market is expected to be relatively slow in 2020
“Key manufacturers of filament tapes are focusing on product innovation and technological integration that can allow at-scale production, resulting in quality products at a lower cost. This is likely to attract customers, as it balances cost and value. Organizations are also partnering and collaborating with other players in the market to penetrate deeper into untapped regions. This will enhance brand value and increases market competitiveness in the filament tapes market.”
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.
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Filament Tapes Market Landscape
3M, Intertape Polymer Inc., and Saint Gobain Performance Plastics Corporation have been identified as the top players in the global filament tapes market, and account for over 20% of global market value. Tier-2 players such as Tesa Tape Inc., Sekisui Chemical Group, and Shurtape Technologies, along with others players, also have decent sales of filament tapes. Tier-3 players such as Folsen, Guangzhou Weasy Adhesive Products Co., Euro Tapes Pvt. Ltd., and Cosmos Tapes & Labels Private Limited are other noteworthy market players.
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)
By Adhesive Type, Filament Tapes Market is Segmented as:
- Rubber Based
- Natural Rubber
- Synthetic Rubber
- Acrylic Based
- Hot Melt Adhesive
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By Width, Filament Tapes Market is Segmented as:
- 12 mm
- 18 mm
- 24 mm
- 36 mm
- 48 mm
- 72 mm
- 96 mm
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