Filament tape is a type of pressure sensitive adhesive tape also known as strapping tapes. A pressure sensitive adhesive material is coated onto a backing material which can be polypropylene or polyester film or a fiberglass and it offers high tensile strength, abrasion and moisture resistance, and also provides good handling for utility applications. 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. 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.
Filament tapes Market Segmentation:
On the basis of application, the global Filament tapes Market is segmented into:
- Corrugated fiberboard boxes
- Reinforcing packages
- Bundling items
- Pallet unitizing
- Glass sealing
On the basis of end use, the global Filament tapes Market is segmented into:
- Consumer goods
- Food and Beverage
- General Industrial
- Oil and Gas
- Others (Military and Government, MRO, Specialty vehicle, Metalworking etc.)
On the basis of Backing Material, the global Filament tapes Market is segmented into:
- Straight Line Fiberglass
- Mesh Fiberglass
Filament tapes Market - Regional Outlook:
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.
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.
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
- 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.
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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.
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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?
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.