FILAMENT TAPES MARKET ANALYSIS

Filament Tapes Market, By Filament Type (Single Sided Tapes, and Double-Sided Tapes), By Backing Adhesive Type (Plastic Film, Paper, Fabric, Foam, and Others), By Adhesive Type (Rubber Based, Acrylic Based, and Hot Melt Adhesive), By Width (12 mm, 18 mm, 24 mm, 36 mm, 48 mm, 72 mm, and Above 72 mm), By End User (Building & Constructions, Healthcare & Hygiene, Food & Beverages, Electronic Industry, and Others), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa).

Published In : Feb 2025
Code : CMI3170
Pages :312
Formats :
Excel and PDF
Industry : Consumer Goods

Market Challenge - Strict government rules and regulation on filament tape

One of the major challenges faced by the filament tapes market is the stringent government rules and regulations regarding the materials that can be used for manufacturing filament tapes. Most governments across the world have implemented strict regulations on the types and amount of adhesive chemicals that can be used in tapes due to environmental and health concerns. For instance, in June 2024, according to the United Nations Environment Programme (UNEP), it takes an average of 3-7 years for new green adhesive technologies to get commercialized after basic research. This is limiting the product innovation capabilities of manufacturers. The adhesive materials permitted by regulations also impact the performance characteristics of tapes. Complying with the frequent changes in norms also increases the R&D and production costs for companies. Monitoring and ensuring adherence to guidelines in global supply chains of filament tapes further adds to the compliance burden on manufacturers.

Market Opportunity: Scope for innovation and product development for market

The filament tapes market provides significant scope for innovation and development of new product varieties. With the growing emphasis on sustainability, manufacturers have an opportunity to invest in R&D activities to create adhesive formulations and backing materials that have less environmental impact without compromising on the functional characteristics of tapes. For instance, in April 2023, according to research by the UN Environment Programmed, approximately 170 Bn units of plastic packaging are delivered annually and less than 10% is recycled globally. Innovations in filament tape composition and properties can contribute to greener packaging by reducing plastic usage and improving recyclability.