German Filament Tapes Market Eyes Robust Growth: Expected to Expand by 9.2% Annually, According to Future Market Insights

The global filament tapes market is projected to reach a value of US$ 10,477.1 million by 2033, with a significant CAGR of 7.1% during the forecast period. The increasing demand for corrugated box packaging is expected to drive the growth of the filament tape market.

The carton sealing tapes segment holds a potential share in the market due to the rising demand for lightweight and durable packaging solutions in industries such as automotive, electronics, and food.

Filament tapes offer high tensile strength and excellent adhesive properties, making them a preferred choice for sealing and securing corrugated boxes during transportation.

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The automotive industry, particularly in the Asia Pacific region, is also a significant contributor to the growth of the market.

The tape is widely used in automotive applications for its strength and residue-free removal. Additionally, India's packaging and tape industry is witnessing growth driven by the electronics and electrical packaging sectors.

Filament tapes are preferred in sealing and bundling applications in these segments. The healthcare and hygiene industry also contributes to the demand for filament tapes due to the need for high-end packaging and protection against moisture, UV rays, and other environmental factors.

The single-sided tapes segment holds a substantial share of the market, accounting for around 52% in 2022. The growing demand for double-sided tapes is expected to increase market share due to their improved high-performance characteristics and multifunctional abilities.

Regarding backing adhesive, the plastic film segment is experiencing significant growth of 7.5%, driven by factors such as high tensile strength and preference in the automobile sector.

The acrylic-based adhesive is the leading segment among other adhesive types. It is fueled by its better aesthetics, high-quality bond to plastics and metals, and secure bonds between oily or contaminated surfaces. The acrylic-based adhesive is witnessing a growth of 9.1% during the analysis period.

India is an influential market for filament tapes, witnessing a growth rate of 8.0% in the forecast period. The country's growing economy, expanding industrial sectors, and infrastructure development contribute to the demand for filament tapes.
China, known for tape production, experiences a market growth of 7.5%, with technological advancements and collaborations shaping the adhesive industry.
Germany, holding a market share of around 4.0% in Western Europe, benefits from the increasing growth of the electrical and electronic industry in the region.

# Competitive Landscape

Companies in the filament tapes market have engaged in mergers and collaborations to enhance their product portfolios, expand their distribution networks, and tap into new market opportunities. By joining forces, companies can pool their resources and capabilities, enabling them to offer a comprehensive range of filament tape products and cater to the diverse needs of customers across various industries.

3M sells See Scotch Filament Tapes, including continuous fibers reinforcing the carrier to make it stronger, withstand damage, and prevent tears from migrating.
Tesa SE introduced a new line of premium filament tapes with fiberglass reinforcing in October 2018. The novel filament tapes are durable when standard strapping tapes are insufficient to sustain heavy weight, high abrasion levels, or excessive shear force.

Amidst the COVID 19 pandemic, the e-Commerce industry is likely to grow at an unprecedented pace, which is expected to augment the growth of the filament tapes market. On the flip side, industries such as automotive and consumer goods have been highly affected by the pandemic. As such, growth of the global filament tape market is expected to be relatively slow in 2020

"Key manufacturers of filament tapes are focusing on product innovation and technological integration that can allow at-scale production, resulting in quality products at a lower cost. This is likely to attract customers, as it balances cost and value. Organizations are also partnering and collaborating with other players in the market to penetrate deeper into untapped regions. This will enhance brand value and increases market competitiveness in the filament tapes market."

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#Key Takeaways of Filament Tapes Market Study

Single-sided tapes account for over 50% share of the overall filament tapes market. However, double-sided tapes are expected to register high incremental opportunity in comparison with single-sided tapes, owing to their multi-functional ability and high performance characteristics.

Amongst the adhesive types, rubber-based and acrylic-based adhesive types would account for over 70% market share, cumulatively.

As per FMI analysis, carton sealing is major application of filament tapes, followed by insulation and bundling. Cartons that need to be transported require sturdy packaging to prevent products from getting damaged. Due to increase in e-Commerce spending and growth of the FMCG sector, the carton sealing application is expected to remain prominent throughout the forecast period.

Automotive and electrical & electronics industries, cumulatively, would maintain their primacy in the filament tapes market. However, due to the impact of the COVID-19 outbreak, growth is anticipated to take a dip in the near term.

Application of filament tapes is likely to surge in shipping & logistics and food & beverages, attributable to increasing shift of customers towards essential goods.

# Filament Tapes Market by Category

By Filament Type, Filament Tapes Market is Segmented as:

Single Sided Tapes
Double Sided Tapes

By Backing Adhesive Type, Filament Tapes Market is Segmented as:

Plastic Film
Polypropylene (PP)
Polyvinyl Chloride (PVC)
Polyethylene (PE)
Polyester (PS)
Others
Paper
Fabric
Foam

By Adhesive Type, Filament Tapes Market is Segmented as:

Rubber Based
Natural Rubber
Synthetic Rubber
Acrylic Based
Hot Melt Adhesive

By Width, Filament Tapes Market is Segmented as:

12 mm
18 mm
24 mm
36 mm
48 mm
72 mm
96 mm

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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

This release was published on openPR.