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Filament Tapes Market Lucrative Opportunites By 2024
The other advantages associated with filament tapes are that it provides good shear and initial adhesion, provides longer package life due to the presence of filaments and adhesions, and allows printing and illustrations to be seen through tape which makes the filament tapes market more attractive.
Filament tapes Market Dynamics:
Filament tapes market is expected to grow at a CAGR of around 5% over the forecast period primarily driven by the growth in automotive sector and electrical sector.
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The features such as convenience to use, multi functionality, resistant to tears, easy removability without marks etc. drives the demand in the filament tapes market. Furthermore, filament tapes are considered stronger than glue closures or twines, which might attract customer of these products towards filament tapes and can further expand the customer base, hence driving growth in the filament tapes market.
Even though filament tapes are very effective for heavy packaging purpose, however, they are considered as one of the costliest tapes which can be a restraining factor in the growth of filament tapes market.
Additionally, the filament can be split lengthways with a little bit of force together with recent technological advancements in manufacturing and increased competition from alternate tapes can act as hindrances in the filament tapes market.
Geographically, the global Filament tapes market is divided into five regions North America, Latin America, Europe, Asia-Pacific (APAC) and the Middle East & Africa (MEA). Asia Pacific is expected to dominate the growth in the filament tapes market, primarily due to huge demand in developing economies like India and China and also because of lower manufacturing cost in these economies.
The low manufacturing costs in developing countries are due to easy availability of raw materials and cheap labor. Further, North America and Europe are expected to witness above average growth rates, however, these regions are expected to grow less aggressively in comparison to Asia Pacific, due to shift in production from developed economies to Asia Pacific. Latin America and MEA are expected to experience a moderate growth in the filament tapes market.
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Filament tapes Market- Key Players:
Some of the major players identified across the globe in the filament tapes market are: 3M Company, Intertape Polymer Group Inc., Tesa Tape Inc., Canadian Technical Tape Ltd, Shurtape Technologies, LLC, CDNT Company, Euro Tapes Pvt. Ltd., ProTapes & Specialties, Guangzhou Weasy Adhesive Products Co., Ltd and many more.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions.
By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
About TMR
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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