The filament tapes market size is projected to be valued at USD 5,276.5 million in 2023 and is expected to rise to USD 10,477.1 million by 2033. The sales of filament tapes are expected to register a significant CAGR of 7.1% during the forecast period.
The FMI team also predicts that the German filament tapes market may grow by 9.2% yearly during the forecast period. Total filament tape sales in Western Europe reached around USD 757 million in 2022.
In the filament tapes industry, 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.
With advancements in tape manufacturing technologies and the introduction of innovative product variants, the future of the filament tape market looks promising. Manufacturers are focusing on developing tapes with enhanced features, such as higher tensile strength and improved adhesive properties, to cater to customers' evolving needs. Furthermore, the expansion of industries such as automotive, aerospace, and electronics is expected to provide significant growth opportunities for filament tapes. These industries often require strong and reliable tapes for applications such as bundling wires, securing components, and reinforcing structures.
| Attribute | Details |
|---|---|
| Market Estimated Size (2023) | USD 5,276.5 million |
| Market CAGR (2023 to 2033) | 7.1% |
| Market Forecasted Size (2033) | USD 10,477.1 million |
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The market for filament tapes has witnessed consistent growth over the years, with increasing demand from various industries such as packaging, logistics, and construction. The use of filament tapes for bundling, reinforcing, and securing applications has contributed to their popularity.
The filament tapes market is projected to rise at 7.1% CAGR during the forecast period compared to the 6.0% CAGR during the historical period.
The market for filament tapes is expected to continue its upward trajectory. Factors such as the growth of e-commerce, increasing industrial activities, and the need for efficient and reliable packaging solutions are driving the demand for filament tapes.
Based on application, the carton sealing tapes segment holds a potential share in the global filament tape market and is expected to continue throughout the forecast period. This is attributed to increasing demand for corrugated boxes, owing to its advantages of being a lightweight packing solution for various industries such as the automobile, electronics, and food. These factors are expected to boost demand for corrugated box packaging in the near future.
Moreover, these corrugated boxes require high-quality sealing and tensile strength during transportation to protect the materials inside from UV rays, moisture, and various gaseous substance surrounding the environment. These attributes of filament tape make corrugated boxes a preferred choice among packaging manufacturers for packaging purposes.
Furthermore, in the automotive industry, filament tape is primarily used for interior and exterior applications due to its high tensile strength and ability to hold adhesive for a longer duration. These attributes of filament tape are one of the primary factors expected to fuel demand for filament tapes for applications in the industrial sector.
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Filament tape finds its application in automotive industries due to its high tensile strength and ability to leave less residue on the metal surface when removed. Tape has many applications in automobiles, particularly during welding and painting. The automotive industry is in its high-growth phase, especially in the Asia Pacific. Thus, growth in this industry may create demand for filament tapes.
The electronics and electrical packaging sectors mainly drive the growth of the packaging and tape industry in India. There has been a drastic increase in modernized retail formats, such as convenience stores, supermarkets, and hypermarkets. Over the past few years, every manufacturer and brand owner must provide quality packaging during the transportation of related products.
Filament tapes are used in sealing and bundling applications in electrical and electronics end-use segments and are the preferred choice by packaging companies over other tapes. Increasing demand for electronics and electrical products thus drives the demand for filament tapes over the forecast period.
Healthcare and hygiene products require high-end packaging and sealants as they are highly reactive to moisture, UV rays, and other gaseous substances in the atmosphere. Filament tape resists these rays from entering the packaging. Thus are preferred over other sealing tapes.
Based on the filament type, the single-sided tapes segment holds a prominent market share. The targeted segment is anticipated to hold around 52% of the market share in 2022. The reason behind the same is the new and improved high-performance characteristics coupled with multifunctional ability are expected to increase the market share of the double-sided tape segment.
The polypropylene sub-segment is expected to dominate the plastic film segment in the market over the forecast period. By backing adhesive type, the plastic film segment is likely to record a CAGR of 7.5% during the forecast period. Factors such as high tensile strength & growing preference in the automobile sector are expected to drive the demand for plastic film in the market over the forecast period.
Based on adhesive type, the acrylic-based segment is estimated to remain the leading segment among the other segment and may capture a CAGR of 9.1% during the forecast period. Factors such as better aesthetics, high-quality bond to plastic and metals, and secure bonds between oily or contaminated surfaces are expected to fuel the demand for acrylic-based adhesive in the filament tapes market over the forecast period.
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India is one of the influential markets for filament tapes, witnessing a growth rate of 8.0% in the forecast period. With a large consumer base and a thriving manufacturing industry, India offers a favorable market for filament tapes. The country is witnessing technological advancements, investments in research and development, and the entry of key tape manufacturers, leading to the availability of a wide range of filament tapes in the market. As India continues to experience growth in various industries, the demand for filament tapes is expected to rise, creating opportunities for further expansion and innovation in the Indian market.
China is one of the leading markets for tape production, witnessing a market growth of 7.5% during the analysis period. With advancements in technology, economies of scale, and cheap labor, Asia holds almost 50% of the total global filament tapes industry.
Various technology breakthroughs are causing an increase in patents registered per country in the region. Also, a collaboration between companies and the Global Tape Forum is helping shape the adhesive industry.
The United States market for filament tapes may record a CAGR of 8.1% during the forecast period. The United States is projected to be the most attractive market for filament tapes due to the growing building & construction industry. According to the Associated General Contractors of America (AGC), in 2019, the contribution of the United States construction industry was 4.1% of the total GDP in the country. Moreover, construction spending in the United States is much higher than in other American and European countries. In 2019, residential construction spending totaled around USD 551 billion in 2019.
Germany may hold a market share of around 4.0% of the Western Europe filament tapes market in the year 2022. The increasing growth of the electrical & electronic industry in Western Europe augments the sales of filament tapes. According to the European Adhesive Tape Association (AFERA), the electronic sector holds 16% of the total specialty tape market. This indicated that the growing electrical and electronics industry in Western European countries increases the demand for filament tapes.
The market is highly competitive, with several key players vying for market share. These players are actively involved in strategies such as product innovation, mergers and acquisitions, and partnerships to strengthen their positions in the market.
To gain a competitive edge, market players are focusing on product development and introducing advanced filament tape solutions. They are investing in research and development activities to enhance the performance characteristics of their tapes, such as increased tensile strength, improved adhesion, and resistance to harsh environments.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 7.1% from 2023 to 2033 |
| Base Year of Estimation | 2023 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and Volume in Units and F-CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, growth factors, Trends, and Pricing Analysis |
| Key Segments Covered | Filament Type, Backing Adhesive Type, Adhesive Type, Width, Application, End-use Industry, By Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; The Middle East & Africa; Oceania |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, Italy, France, The United Kingdom, Spain, Russia, China, Japan, India, GCC Countries, Australia |
| Key Companies Profiled | 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; Sekisui TA Industries, LLC; Pro Tapes & Specialties Inc.; Euro Tapes Pvt. Ltd.; Shurtape Technologies, LLC; Guangzhou Weasy Adhesive Products Co. |
| Customization & Pricing | Available upon Request |
The market in 2023 is valued at US$ 5,276.5 million.
The CAGR from 2023 to 2033 will be 7.1%.
From 2018 to 2022, the market expanded at a 6% CAGR.
China will expand at a 7.5% CAGR through 2033.
3M, Tesa Tape, and Intertape Polymer Corp. are some key players.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Single Sided Tapes 5.2. Double Sided Tapes 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Backing Adhesive Type 6.1. Plastic Film 6.1.1. Polypropylene (PP) 6.1.2. Polyvinyl Chloride (PVC) 6.1.3. Polyethylene (PE) 6.1.4. Polyester (PS) 6.1.5. Others 6.2. Paper 6.3. Fabric 6.4. Foam 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Adhesive Type 7.1. Rubber Based 7.1.1. Natural Rubber 7.1.2. Synthetic Rubber 7.2. Acrylic Based 7.3. Hot Melt Adhesive 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Width 8.1. 12 mm 8.2. 18 mm 8.3. 24 mm 8.4. 36 mm 8.5. 48 mm 8.6. 72 mm 8.7. 96 mm 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 9.1. Bundling 9.2. Strapping 9.3. Insulation 9.4. Carton Sealing 9.5. Sealing 9.6. Others 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 10.1. Shipping & Logistics 10.2. Building & Construction 10.3. Food & Beverages 10.4. Electrical & Electronics 10.5. Automotive 10.6. Healthcare & Hygiene 10.7. Printing 10.8. Metalworking 10.9. Oil & Gas 10.10. General Industrial 10.11. Consumer Goods 11. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 11.1. North America 11.2. Latin America 11.3. Europe 11.4. Asia Pacific 11.5. MEA 12. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. 3M Company 19.2. Intertape Polymer Corp, Inc. 19.3. Tesa Tape Inc. 19.4. Canadian Technical Tape, Ltd. 19.5. Saint-Gobain Performance Plastics 19.6. PPM INDUSTRIES S.P.A. 19.7. Cosmos Tapes & Labels Private Limited 19.8. Sekisui TA Industries, LLC 19.9. Pro Tapes & Specialties Inc. 19.10. Euro Tapes Pvt. Ltd. 19.11. Shurtape Technologies, LLC 19.12. Guangzhou Weasy Adhesive Products Co. 20. Assumptions & Acronyms Used 21. Research Methodology
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Filament Tapes Market
