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Introduction

Elastic rubber tapes are used as elastic inserts in various textile and apparel applications such as underwear, swimwear, swim suits, knitwear, socks, bathing caps, lingerie, and sportswear. They possess properties such as high heat resistance, excellent launderability, zero shrinkage in wet as well as dry conditions, excellent wash resistance, and resistance to saline water, chlorine, and suntan lotions.

Global Elastic Rubber Tapes Market: Trends & Developments

Demand for fitness clothing and sportswear is anticipated to increase at a significant pace in the next few years, due to rising number of people taking up adventure sports and shifting focus toward healthy living. Increasing demand for sensuous, stylish, and premium innerwear is boosting the demand for branded innerwear across the globe. Awareness about fashion, media, and health and rise in the number of women spenders are boosting the demand for lingerie in the next few years. This is expected to propel the global elastic rubber tapes market during the forecast period. However, several factors such as shortage of skilled labor and rise in prices of raw materials required for the manufacture of elastic rubber tapes are expected to restrain the global elastic rubber tapes market during the forecast period.

Global Elastic Rubber Tapes Market: Segmentation

Based on application, the global elastic rubber tapes market can be segmented into apparel, medical, home textile, fitness & rehab, and miscellaneous. Elastic rubber tapes are used in the apparel industry as elastic inserts in underwear, lingerie, intimate apparel, socks, swimwear, knitwear, and sportswear. They are used in waist and leg openings of underwear and in arm, leg and neck openings of swimwear. Elastic rubber tapes are used in the medical sector to manufacture tourniquets, bandages, and ear loops and diaphragms for face masks. Insert elastics are also employed in shoe covers, bouffant caps, and disposable clothing. Elastic rubber tapes are used as resistance or exercise bands as part of therapy exercises for rehabilitation as well as for restoration of muscle and joint functions. They are popularly used in sports training and other kinds of endurance and balance training programs. Elastic rubber tapes also cater to customer-specific requirements such as utility shock cords, shin guards, and as insert elastics for automobile covers, car seat covers, and luggage pockets.

Global Elastic Rubber Tapes Market: Regional Outlook

In terms of region, the global elastic rubber tapes market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the global market from 2018 to 2026, owing to rising demand for sports apparel and fitness wear led by growing awareness about health among the millennial population. In Asia Pacific, China is the leading consumer and importer of elastic rubber tapes, as it is one of the largest textile industries in the world. India is the second-largest market for elastic rubber tapes in Asia Pacific. The market in the country is expected to expand at a significant pace during the forecast period. Increasing disposable income, rising brand awareness, and growing fashion consciousness among the youth in India are driving the clothing & apparel industry in India. This is expected to drive the market for elastic rubber tapes in the country during the forecast period. The revival of economies in Europe and growing disposable income in countries such as Romania and Poland are expected to drive the apparel industry in the region in the near future. This, in turn, would increase the demand for garment accessories such as elastic rubber tapes in the region during the forecast period.

Global Elastic Rubber Tapes Market: Key Players

Key players operating in the global elastic rubber tapes market are Garware Bestretch Limited, Navsari Elastic Products Pvt. Ltd., Habasit, PT. Fillattice Indah Industry, Vijay Elastics Ltd., Balaji Super Spandex, Altra, Cardinal Health, Zenith Garment Accessories Co., Ltd., China Besco Industrial Co., Ltd., and Tulip Elastics Pvt. Ltd.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

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Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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