PUBLISHER: The Business Research Company | PRODUCT CODE: 1605588
PUBLISHER: The Business Research Company | PRODUCT CODE: 1605588
Filament tapes are robust, pressure-sensitive adhesive tapes reinforced with fiberglass or polyester filaments that run along the length or across the tape, enhancing their strength and durability. These tapes are commonly used in applications that require high tensile strength, such as bundling, packaging, and reinforcing.
The primary types of filament tapes include single-sided and double-sided tapes. Single-sided tapes have adhesive on one side and are utilized for bonding or securing surfaces. These tapes feature various types of adhesives, including rubber-based, hot-melt, acrylic-based, and others, and are made from materials such as paper, foam, fabric, polyester, mesh fiberglass, and more. They are used in a wide range of applications, including bundling, strapping, insulation, and carton sealing, and cater to numerous industries, such as shipping and logistics, construction, food and beverages, electrical and electronics, automotive, healthcare and hygiene, printing, metalworking, oil and gas, among others.
The filament tapes market research report is one of a series of new reports from The Business Research Company that provides filament tapes market statistics, including filament tapes industry global market size, regional shares, competitors with a filament tapes market share, detailed filament tapes market segments, market trends and opportunities, and any further data you may need to thrive in the filament tapes industry. This filament tapes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The filament tapes market size has grown strongly in recent years. It will grow from $4.63 billion in 2023 to $4.95 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth observed during the historical period can be attributed to several factors, including the expansion of the packaging industry, post-war industrialization, a shift towards plastic packaging, the rise of e-commerce, and an increased utilization of filament tapes for securing heavy goods.
The filament tapes market size is expected to see strong growth in the next few years. It will grow to $6.56 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The anticipated growth during the forecast period can be attributed to several factors, including a rising preference for lightweight packaging materials, an increase in packaged goods, a growing focus on environmentally friendly packaging solutions, expanding use in healthcare, and heightened industrial activities. Key trends expected in this period include advancements in adhesive technologies, the integration of smart technologies, innovations in manufacturing processes, automation in application, and improved online marketing strategies.
The rising demand for high-performance packaging is anticipated to drive growth in the filament tapes market in the near future. High-performance packaging encompasses solutions that offer exceptional product protection, durability, and functionality. This demand is fueled by increasing consumer expectations regarding product safety and sustainability, as well as stricter regulatory requirements across various industries. Filament tapes are particularly effective for high-performance packaging due to their strong adhesive qualities and reinforced fibers, which provide impressive tensile strength and durability. For instance, in June 2024, Dezan Shira & Associates, a multi-disciplinary professional services firm based in China, projected that plastic packaging in Vietnam would grow from 10.07 million tons in 2023 to 15.09 million tons by 2028. As a result, the heightened demand for high-performance packaging is propelling the filament tape market forward.
Key players in the filament tapes market are concentrating on developing innovative solutions such as biobased and solvent-free adhesives to minimize their environmental footprint and address the increasing consumer demand for sustainable products. These environmentally friendly adhesives are derived from renewable resources and do not contain harmful chemicals, providing sustainable bonding options with a reduced ecological impact. For example, in June 2023, Lohmann GmbH & Co. KG, a Germany-based manufacturer of adhesive tape systems, introduced the DuploCOLL ECO adhesive tape portfolio, which features biobased and solvent-free adhesives aimed at promoting sustainability in adhesive applications. This new product line includes various tape types, such as transfer and double-sided scrim tapes, all made using Lohmann's 100% solvent-free TwinMelt technology, which lowers energy consumption and CO2 emissions. With 50% biobased materials and recyclable liner systems, the ECO portfolio aligns with circular economy principles while ensuring reliable adhesion to various substrates, including recycled materials.
In March 2023, Rotunda Capital Partners, a private equity firm based in the United States, acquired Bron Tapes, Inc. for an undisclosed amount. This acquisition aims to accelerate growth by leveraging Bron's strong customer service and technical expertise, while also exploring further acquisitions and promoting expansion in line with Rotunda's strategy of enhancing family-founded distribution businesses. Bron Tapes, Inc. is a U.S.-based manufacturer of pressure-sensitive tapes, including filament tapes.
Major companies operating in the filament tapes market are 3M Company, Berry Global Inc, Crown Packaging Corp., Nitto Denko Corporation, H.B. Fuller Company, Tesa Tape Inc., Scapa Group plc, Shurtape Technologies LLC, Viraj Industries Limited, Advance Tapes International, Adhesive Applications Inc., Canadian Technical Tape Ltd., Guangzhou Weasy Adhesive Products Co. Ltd., Justia Inc., Ajit Industries Private Limited, Avon Packaging Limited., Nippon Industries Co. Ltd., Shaktiman Packaging Private Limited, Euro Tapes Private Limited, Paragon Tapes Ltd., PPI Adhesive Products, Cosmos Tapes and Labels Private Limited, Wingtai Tape Inc., AVR Industries Private Limited, Saint-Gobain Performance Plastics Corporation
North America was the largest region in the filament tapes market in 2023. The regions covered in the filament tapes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the filament tapes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The filament tapes market consist of sales of dispensers, cutting tools, cutters, and protective equipment. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Filament Tapes Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on filament tapes market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for filament tapes ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The filament tapes market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.