A recent market intelligence report that is published by Data Insights Partner on the Global Filament Tapes Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Filament Tapes Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and Global Filament Tapes Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of Global Filament Tapes Market is offered. In accordance with the report, the Global Filament Tapes Market is projected to expand by healthy CAGR over the period of forecast.
Market Insight, Drivers, Restraints ,Opportunity & Trends of the Market:
Global filament tapes market is expected to witness significant growth during the forecast period. This growth is expected to be primarily driven by growth in automotive and electronic sector & improved synergy between global and regional player. Moreover, growing preference of corrugated box packaging is expected to stimulate the sales of filament tapes in the near future. Furthermore, increasing demand of biodegradable pressure sensitive adhesive owing to its ecofriendly characteristics, also a reason which is anticipated to fuel the sales of filament tapes during the forecast period. In addition, Asia Pacific region is expected to witness fast pace owing to the growing end use industry along with the infrastructural development.
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Tape manufacturing companies across the globe strategically focused on localization of tape products, as decision makers in such companies are aware that a single global brand can not resonate the customer in high potential regional market. Following the industry leaders several tier II tape manufacturing companies also replicated similar strategy to achieve success in local market, consequently transforming the dynamics of global tape market. Furthermore, these companies also leveraged the local market benefits, which is largely characterized by economic production and quick integration with existing supply chain.
Multinational tape manufacturing companies outsourced production to local and regional players ensuring technical know how and industry expertise. Local companies thus created the demand for tape products such as filament tape. Albeit, producing for large tape manufacturing companies, regional players are allowed to procure raw material for tape products locally with prior approval of the brand owner
Multinational brands through such synergies aims to widen their presence in local markets, which in turn is translating into the demand for tape products. Over the past three years eleven European tape brands entered the high potential Asian market, largely the countries in South and South East Asia. The trend is likely to continue as several tier II companies are also planning to foray in these markets. In addition, local tape brands are challenging the global brands, thus creating substantial opportunity for tape product supplier
Due to the increasing competition among the end use industries for low cost products is resulting low profit margins for tape manufacturers, ultimately affecting their overall profitability. Tape manufacturers are focusing on cost reduction for their products by implementing new methods and through the use of other low-cost optional materials and technologies. Tape manufacturers are working hard to maintain their market position and to retain their customers by implementing low cost strategy for labels, thus compromising their profitability margins.
Increased raw material prices have become a serious issue for manufacturers of filament tapes. Rising prices of film material, printing inks, adhesives resins, and special paper are hampering the profits of all the concerned businesses in the filament tape value chain.
Recently the specialty chemicals manufacturing company named Rohm and Haas has raised prices for its industrial adhesives and sealants. This price increase will affect the manufacturing cost for filament tapes.
Additionally, manufacturing cost is affected by currency fluctuations. Changes in oil prices also affect this market considerably, as there will be additions to the cost of transportation. Changes in global supply and demand and fluctuations in market, exchange rates, government controls and other factors may affect the prices of raw material and filament tapes. Particularly in European countries the production cost is high because of the high cost of polymers.
South East Asia is expected to dominate the market owing to per capita income, which has increased in the region by 1.6X between 2008 and 2017, which in turn is expected to create favorable demand for automobile and electronics product including its packaging, which in turn is expected to creates immense opportunity for tapes products including filament tapes in the region.
Most filament tape manufacturers should target their customer base in emerging economies such as Brazil, Indonesia, Nigeria, and ASEAN countries. South East Asia, particularly has a lucrative market for automobile and electronics, owing to its economic stability and increasing per capita income of the people. ASEAN is expected to have an attractive filament tape market due to infrastructural advancement and rising retail markets and shopping centers.
Advanced acrylic adhesive technology used in filament tapes are becoming the preferred bonding solution among the tape manufacturers across the globe. These advance acrylic adhesive technology are replacing the traditional liquid and spray adhesives, mechanical fasteners, and other bonding and fastening systems
Unlike conventional adhesives, which tend to bleed at the edges, advanced acrylic adhesives used in filament tapes maintain their stability and integrity during processing.
A primary shift of production of filament tapes from North America and Europe to Asia Pacific region is taking place, although the market is less homogeneous. With 35% share of global market, Asia Pacific filament tape market is growing more dynamically than its economy.
Factors such as economy of scale, growing industrialization and availability od raw material at cheap price are pushing the filament tapes manufacturers to enhance its manufacturing facility in Asia Pacific region especially in China and India
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This market intelligence report on the Global Filament Tapes Market encompasses market segments based on filament type, backing adhesive type , adhesive type , width , end use ,application and country.
By Filament Type the Global Filament Tapes Market has been divided into:
q Single Sided Tapes
q Double Sided Tapes
By Backing Adhesive Type the Global Filament Tapes Market has been divided into:
q Plastic Film
- Polyvinyl Chloride
By Adhesive Type the Global Filament Tapes Market has been divided into:
q Rubber Based
- Natural Rubber
- Synthetic Rubber
q Acrylic Based
q Hot Melt Adhesive
By Width the Global Filament Tapes Market has been divided into:
q 12 mm
q 18 mm
q 24 mm
q 36 mm
q 48 mm
q 72 mm
q 96 mm
By End Use Global Filament Tapes Market has been divided into:
q Shipping & Logistics
q Building & Construction
q Food & Beverages
q Electricals & Electronics
q Healthcare & Hygiene
q Oil & Gas
q General Industrial
q Consumer Goods
By Application Global Filament Tapes Market has been divided into:
q Carton Sealing
By country/region, the Global Filament Tapes Market has been divided into:
q North America (the U.S., Canada),
q Latin America (Brazil, Mexico, Argentina and other countries),
q Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as:
q 3M Company
q Intertape Polymer Corp, Inc.
q Tesa Tape Inc.
q Canadian Technical Tape, Ltd.
q Saint-Gobain Performance Plastics
q Krush Adhesive Tape, Inc.
q Sekisui TA Industries, LLC
q Pro Tapes & Specialties Inc
q PPM INDUSTRIES S.P.A.
others have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Filament Tapes Market related investment & spending and developments by major players of the market are tracked in this APEJ report.
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the APEJ players.
Few Recent Developments
Saint Gobain Performance Plastics
In November 2016, it acquired 100% of the share capital of Italy-based h-old from Arcadia Small Cap. The latter manufactures and distributes specialty adhesive tapes including filament tapes.
Tesa Tape Inc.
In October 2016, it introduced new foam tapes for industrial purposes under the brand names tesa 64956 and tesa64962 for climate-controlled bonding and mounting applications
Ø This study offers comprehensive yet detailed analysis of the Filament Tapes Market, size of the market (US$ Mn ), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking into account 2019 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Filament Tapes Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of Type of models, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for Filament Tapes caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Filament Tapes Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
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v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants
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