What Is The Definition Of The Global Filament Tapes Market?
Filament tapes are strong, pressure-sensitive adhesive tapes reinforced with fiberglass or polyester filaments that run along the length or across the tape, providing enhanced strength and durability. These tapes are commonly used in applications requiring high tensile strength, such as bundling, packaging, and reinforcing.
Filament Tapes Global Market Report 2024 provides data on the global filament tapes market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The filament tapes market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global Filament Tapes Market Size Expected To Change, And What Are The Growth Rate Projections?
The filament tapes market has experienced strong growth, expected to grow from $4.63 billion in 2023 to $4.95 billion in 2024 at a CAGR of 6.9%. This growth is driven by the packaging industry's expansion, post-war industrialization, the shift toward plastic packaging, the rise of e-commerce, and increased use in securing heavy goods. The market is forecasted to grow to $6.56 billion by 2028 at a CAGR of 7.3%, supported by increasing demand for lightweight packaging, a rise in packaged goods, a focus on eco-friendly packaging, healthcare applications, and growing industrial activities. Key trends include enhanced adhesive technologies, smart technology integration, manufacturing innovations, automation in application, and advanced online marketing strategies.
Which Drivers Are Accelerating Growth In The Filament Tapes Market?
The growing demand for high-performance packaging is fueling the filament tapes market. High-performance packaging ensures superior product protection, durability, and functionality. The increasing consumer focus on product safety and sustainability, alongside stricter regulatory standards, has amplified this demand. Filament tapes are particularly effective for high-performance packaging due to their strong adhesive properties and reinforced fibers that provide excellent tensile strength and durability. For example, Dezan Shira & Associates reported in June 2024 that plastic packaging in Vietnam is expected to grow from 10.07 million tons in 2023 to 15.09 million tons by 2028. This highlights how high-performance packaging needs are driving the filament tapes market.
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What Are The Core Segments Of The Global Filament Tapes Market?
The filament tapes market covered in this report is segmented –
1) By Type: Single Sided Tapes, Double Sided Tapes
2) By Adhesive Type: Rubber Based, Hot Melt Adhesive, Acrylic Based, Other Adhesive Types
3) By Material: Paper, Foam, Fabric, Polyester, Mesh Fiber Glass, Other Materials
4) By Application: Bundling, Strapping, Insulation, Carton Sealing, Sealing, Other Applications
5) By End Use: Shipping And Logistics, Building And Construction, Food And Beverages, Electrical And Electronics, Automotive, Healthcare And Hygiene, Printing, Metalworking, Oil And Gas, Other End Uses
Which Emerging Trends Are Reshaping The Filament Tapes Market Size?
Filament tape producers are innovating with sustainable adhesives, such as biobased and solvent-free options, to reduce environmental impact. These adhesives are made from renewable resources and exclude harmful chemicals. In June 2023, Germany-based Lohmann GmbH & Co. KG launched the DuploCOLL ECO adhesive tape range. Utilizing 50% biobased materials and recyclable liner systems, this solvent-free technology supports circular economy initiatives while maintaining reliable performance.
What Is The Largest Region In The Filament Tapes Market?
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.
