Global Filament Tapes Market Projected to Reach USD 6.6 billion by 2026, Driven by Increasing Demand in Construction and Packaging Industries

Speciality tapes made of a reinforced filament that gives the tape strength and durability are called filament tapes, also referred to as reinforced tapes. Many industrial uses, including packing, bundling, and strengthening, make extensive use of these tapes. Due to the rising need for high-strength tapes in the packaging and transportation industries, the market for filament tape has experienced significant growth in recent years.

Due to the fact that filament tapes are employed in the packaging of small and delicate goods, the expansion of the e-commerce sector has also increased demand for these tapes. Due to the usage of filament tapes in the assembly of automotive parts and the packaging of automotive components, the rise of the automotive sector has also boosted the need for these tapes.

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The filament tapes market is segmented into different types of tapes, such as fiberglass filament tape, carbon fiber filament tape, and other filament tapes. Fiberglass filament tapes are the most widely used type of filament tapes and are widely used in the packaging and transportation industry. Carbon fiber filament tapes are widely used in the aerospace and automotive industries due to their high strength and durability.

The filament tapes market is further segmented into different applications, such as packaging, bundling, and reinforcing. The packaging segment is the largest application segment in the filament tapes market, accounting for the largest share of the market. The bundling segment is expected to grow at a significant rate in the coming years due to the increasing demand for bundling tapes in the packaging industry.

The filament tapes market is geographically segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America is the largest market for filament tapes, followed by Europe and Asia-Pacific. The growth of the filament tapes market in North America is attributed to the presence of a large number of filament tape manufacturers and the growth of the packaging and transportation industry in the region.

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The Asia-Pacific region is expected to see significant growth in the coming years due to the increasing demand for filament tapes in the packaging and transportation industry and the growth of the automotive and e-commerce industries in the region. The growth of the filament tapes market in the Rest of the World is attributed to the increasing demand for filament tapes in emerging economies.

In conclusion, the filament tapes market is expected to grow at a significant rate in the coming years due to the increasing demand for high-strength tapes in the packaging and transportation industry and the growth of the automotive and e-commerce industries. The growth of the filament tapes market in emerging economies is also expected to drive the growth of the market in the coming years.

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.

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