Filament Tapes Market to Register 7% CAGR through 2026
Preferred for their high tensile strength and tear resistant attributes, filament tapes are a favorable option in automotive and consumer electronics industries. Driven by these benefits, OEMs are increasingly resorting to filament tapes for bulk packaging. Throughout the forecast period of 2020-2026, the filament tapes market would experience robust growth. While a majority of end-use industries are undergoing manufacturing slowdowns due to the COVID-19 pandemic, the market value pool would be sustained by accelerated shift towards digital channels.
Filament Tapes Market: Key Insights
- Single-sided tapes continue to see greater sales; double-sided tapes to firm their grip in market value.
- Acrylic-based adhesive types would remain the preferred choice among end users; rubber-based adhesive types to fade gradually.
- Carton sealing remains key application area of filament tapes, followed by insulation and bundling.
- Manufacturers continue to target automotive and electrical & electronics industries for lucrative returns.
- Adoption of filament tapes likely to surge in automotive use cases.
- Asia Pacific excluding Japan (APEJ) represents the most worthwhile share in the global filament tapes market; North America and Western Europe to reflect growth potential.
KEY FACTORS SHAPING FILAMENT TAPES MARKET
e-Commerce and Industrial Growth for FMCG to Boost Sales of Filament Tapes
Rapid growth in e-Commerce retailing is expected to fuel the demand for filament tapes over the forecast period. Amidst the COVID-19 outbreak, the demand for e-Commerce is likely to grow, which will augment the demand for filament tapes. Major application of filament tapes would be carton sealing, followed by insulation and bundling. Manufactures of filament tapes are coming up with innovative product portfolios to attract customers in order to provide better packaging solutions to packaging companies.
Due to the growth in E-commerce and growth in the FMCG sector, cartons that need to be transported would need strong packaging to prevent products from getting damaged. Other sectors such as the automotive industry and consumer goods industry have been highly affected by the outbreak of COVID-19, and therefore, the market CAGR would be comparatively lower in the year 2020.
High Tensile Strength and Convenient Application Likely to Augment Use of Filament Tapes
Filament tapes are used for interior and exterior applications, and are preferred due to their tensile strength as compared to glue or twine. Multi-functional use, easy removability, and convenient application can further expand the customer base, which will drive the growth of the filament tapes market. Filament tapes are used for heavy packaging due to their strength and tear resistant properties, which makes them convenient for usage in automotive, FMCG, and building & construction industries. Filament tapes are the preferred choice of OEMs, as they can also be used for bulk packaging. Growth in the end uses of filament tapes is likely to surge in shipping and logistics and food and beverages, as these tapes are preferred by brand owners and service providers to strap and bundle packages together, which enables bulk shipments.
Filament Tapes Market: Structure Analysis
As per FMI analysis, the filament tapes market is characterised by the presence of a few key players.
- 3M Company, Intertape Polymer Inc., and Saint Gobain Performance Plastics Corporation have been identified as the top players in the global filament tapes market, who account for more than 20% of the global market.
- Tier 2 players such as Tesa Tape Inc., Sekisui Chemical Group, and Shurtape Technologies, along with others players, cater to the demand for filament tapes in the market.
- Tier 3 players such as Folsen, Guangzhou Weasy Adhesive Products Co., Euro Tapes Pvt. Ltd., and Cosmos Tapes & Labels Private Limited form a major part of the market structure.
- Predominant trends in the global filament tapes market are strategic mergers & acquisitions. Key players are focusing on expanding their footprint in emerging countries, and for this, they are acquiring local players to minimize operational costs and enlarge their distribution channels.
- Therefore, market players are partnering and collaborating with large players to tap potential markets across the globe. This enhances cost efficiency by reduction in shipping costs, and also builds the reputation of domestic manufacturers.
On the basis of region, the global filament tapes market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Asia Pacific is estimated to dominate the global filament tapes market in terms of both, value and volume. However, North America & Europe are also anticipated to witness steady growth during the forecasted period.
2015 - 2019
2020 - 2026
Market Value in 2019
US$ 3.9 Bn
Filament Type, Adhesive Type, Width, Backing Adhesive Type, Application, End Use, and Region
North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and the Middle East & Africa
3M, Intertape Polymer Corp, Inc., Tesa Tape Inc., Canadian Technical Tape, Ltd., Saint-Gobain Performance Plastics, Sekisui TA Industries, LLC, Pro Tapes & Specialties Inc, PPM INDUSTRIES S.P.A., Cosmos Tapes & Labels Private Limited, Euro Tapes Pvt. Ltd., Shurtape Technologies, LLC, Guangzhou Weasy Adhesive Products Co., and Folsen.
Single-sided Filament Tapes to Lose Market Share
Single-sided filament tapes continue to fetch greater investments of shareholders, and would attain a valuation of US$ 3 Bn towards the end of the predefined timeframe. However, the revenue share gap between single-side and double-sided filament tapes is likely to shrink over the years ahead. Benefits such as multi-functional ability and high performance aspects of double-sided tapes are resulting in their broader adoption. Market players are thus shifting their attention towards these filament tapes.
APAC - Hub of Investment Opportunities
Asia Pacific (APAC) continues to generate greater total returns to shareholders (TRS) - over 40% of overall market value. Cost-effective manufacturing techniques, owing to abundance of raw materials and cheap workforce, are influencing manufacturers to invest in APAC. China and India majorly represent the regional filament tapes market. Going forward, North America and Western Europe will also offer opportunities of growth and profitability, with the market in the latter growing at a stellar pace.
e-Commerce and FMCG Industries to Sustain Revenue Development
Amidst the coronavirus (COVID-19) pandemic, e-Commerce and fast-moving consumer goods (FMCG) industries are experiencing staggering growth, which would bode well for the filament tapes market, especially in carton sealing applications. Manufacturers of filament tapes are developing innovative product portfolios in order to enhance their consumer base and offer better packaging formats to packaging innovators. Cartons that require transportation would need sturdy packaging to avoid the damaging of products. Although the COVID-19 pandemic is putting a strain on the filament tapes market, growth of the e-Commerce and FMCG sectors will propel market progress.
Single-sided tapes stay in-demand
Double-sided tapes to gain momentum
High demand for plastic films
Paper to pick pace
Surging consumption of acrylic-based adhesives
Rubber-based adhesives to lose market share
High usage in carton sealing
Application in insulation to decline
How Growth will Unfold
Supported by top-line growth of e-Commerce and FMCG industries, manufacturers would glean better profit margins from carton sealing applications. Cartons requiring transportation need strong packaging formats in order to prevent the products from getting compromised. By 2023, carton sealing tapes would register over US$ 2 Bn revenue. Moving on, market players are also uncovering new revenue lines in sealing and insulation applications. Together, both these use cases would capture around one-third of total market stack.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
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A recent market report published by Future Market Insights on the filament tapes market provides global industry analysis of 2016-2019 and forecasts for 2020-2026. The report offers a comprehensive assessment of the most important market dynamics. After conducting thorough research on the historical as well as current growth parameters of the filament tapes market, growth prospects of the market are obtained with maximum precision.
Filament Tapes Market Taxonomy
The global filament tapes market is segmented in detail to cover every aspect of the market and present complete market intelligence to the readers.
- Single-sided Tapes
- Double-sided Tapes
- Natural Rubber
- Synthetic Rubber
- Hot Melt Adhesive
- 12 mm
- 18 mm
- 24 mm
- 36 mm
- 48 mm
- 72 mm
- 96 mm
Backing Adhesive Type
- Plastic Film
- Polypropylene (PP)
- Polyvinyl Chloride (PVC)
- Polyethylene (PE)
- Polyester (PET)
- Carton Sealing
- Shipping & Logistics
- Building & Construction
- Food & Beverages
- Electrical & Electronics
- Healthcare & Hygiene
- Oil & Gas
- General Industrial
- Consumer Goods
- North America
- Latin America
- South Asia
- East Asia
The report begins with the executive summary of the filament tapes market, which includes a summary of the key findings and statistics of the market. It includes dominant segments in the global filament tapes market, along with key facts about filament tapes. It also includes graphical representation of the segments according to market size and growth rate.
This chapter helps readers understand the research methodology followed to obtain various conclusions, as well as, important qualitative and quantitative information, about the filament tapes market.
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the filament tapes market report.
Readers can find detailed taxonomy and definition of the filament tapes market in this chapter, which will help them understand basic information about filament tapes available in the market. This section also highlights the value chain, product cost structure, and value-volume forecasts of the global market.
This section highlights the market drivers and restraints along with opportunity analysis of the global filament tapes market. Readers can also find recent trends of the filament tapes market in this section.
Based on filament type, the filament tapes market is segmented into single sided tapes and double sided tapes. In this chapter, readers can find information about key attractive segments during the forecast period.
Based on adhesive type, the filament tapes market is segmented into rubber based, acrylic based and hot melt adhesive. In this chapter, readers can find information about key attractive segments during the forecast period.
Based on backing adhesive type, the filament tapes market is segmented into plastic film, (polypropylene (PP), polyvinyl chloride (PVC), polyethylene (PE), polyester (PET), others), paper, fabric, foam. In this chapter, readers can find information about key attractive segments during the forecast period.
Based on width, the filament tapes market is segmented into 12 mm, 18 mm, 24mm, 36 mm, 48 mm, 72 mm and 96 mm. In this chapter, readers can find information about key segments during the forecast period.
This chapter provides details about the filament tapes market on the basis of bundling, strapping, insulation, carton sealing, sealing and others.
This chapter provides details about the filament tapes market on the basis of shipping and logistics, building and construction, food and beverage, electrical and electronics, automotive, healthcare and hygiene, printing, metal working, oil and gas, general industrial and consumer goods.
This chapter explains how the filament tapes market is expected to grow across various geographical regions such as North America, Latin America, Europe, Asia Pacific and the Middle East & Africa (MEA).
This chapter includes a detailed analysis of growth of the North American filament tapes market, along with a country-wise assessment that includes the U.S. and Canada. Readers will also find some of key points on the basis of estimated market size and consumption of filament tapes.
Readers can find detailed information about several factors, such as the pricing analysis and the regional trends, which are impacting the growth of the Latin America filament tapes market. This chapter also includes the growth prospects of the filament tapes market in leading countries in Latin America such as Brazil, Mexico, Argentina, and the Rest of Latin America.
Important growth prospects of the filament tapes market based on system type, product type, application, and end-use in several countries such as Italy, Germany, France, UK, Spain, and Rest of Western Europe are included in this chapter.
Important growth prospects of the filament tapes market based on system type, product type, application, and end-use in several countries such as Russia, Poland, and Rest of Eastern Europe are included in this chapter.
India, China, ASEAN, Australia & New Zealand and rest of APEJ are the leading countries in the Asia Pacific region that are the prime subjects of assessment to obtain the growth prospects of the Asia Pacific filament tapes market in this chapter. Readers can find detailed information about the growth parameters of the Asia Pacific filament tapes market during the forecast period of 2020-2026.
Japan is the prime subject of assessment to obtain the growth prospects of the regional filament tapes market in this chapter. Readers can find detailed information about the growth parameters of the Japan filament tapes market during the forecast period of 2020-2026.
This chapter provides information about how the filament tapes market is anticipated to grow in major countries in the MEA region such as the GCC Countries, South Africa, Turkey, Israel, and the Rest of MEA during the forecast period 2020 - 2026.
In this chapter, readers will find a comprehensive list of all leading manufacturers in the filament tapes market, along with detailed information about each company, including company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are 3M, Intertape Polymer Corp, Inc., Tesa Tape Inc., Canadian Technical Tape, Ltd., Saint-Gobain Performance Plastics, Sekisui TA Industries, LLC, Pro Tapes & Specialties Inc, PPM INDUSTRIES S.P.A., Cosmos Tapes & Labels Private Limited, Euro Tapes Pvt. Ltd., Shurtape Technologies, LLC, Guangzhou Weasy Adhesive Products Co. and Folsen.
How the research was conducted?
Primary research interviews with key opinion leaders and other participants were conducted for data collection and validation of the below information:
- Key Segments in the Filament tapes market
- Market Share Analysis
- Average Selling Price (US$) and Market Growth
- Market Size
- Key Trends & Developments
- Competition & Key Vendor Strategies
- Industry Journals
- Tapes Industry Growth
- Regional tapes consumption
- Annual Reports/SEC Filings/Investor Presentations
Primary Interview Splits