Filament Tapes Market to be resurrected with the restoration of 3M India’s two production facilities in India

 

The filament tapes market is set to reach at the highest levels in Asia Pacific, owing to high demand in emerging economies such as India and China, as well as lower manufacturing costs in these countries. Low production costs in developed countries are a result of quick access to raw materials and low labor costs. Similarly, the North America and Europe region are poised to rise at a faster rate in the filament tapes market owing to the well-established industrialized sector.

In May 2021, 3M India confirmed the initiation of its production plants based in Bangalore and Pune from May 19, 2021 onwards with 50 workforce. The production of these plants was halted due to surge in COVID-19 cases across the country since March 2021.

Filament Tapes are also recognized by other names such as wrap film tape, duct tape, or blue tapes. This type of tape can be used for packaging a variety of products including packaged lunch boxes, paper products, and cartons, to name a few. Filament tape or strapping film is a high-quality pressure-sensitive adhesive tape used for a number of packaging purposes including filling corrugated plastic packages, reinforcing large packages, bundling supplies, pallets, and other unitizing applications. The adhesive backing of this tape allows it to adhere to a wide range of surfaces including wood, metal and cardboard. Filament tapes are available in a variety of colors to meet the packaging requirements of a variety of product brands and applications.

The rise of the automobile and electrical industries is the primary driver of the filament tapes market. The filament tapes market is also driven by factors such as ease of use, multi-functionality, tensile strength, simple removability without leaving traces, and so on.

Moreover, filament tapes are subsequently refined than glue closures or twines, which may draw consumers of these items towards filament tapes and will further attract more customers, thereby gaining pace for the filament tapes market. In March 2021, a major tapes manufacturing company, Duraco Specialty Tapes, acquired Filmquest Group to extend product offering in the flexible packaging sector.

Despite the fact that filament tapes are often very efficient for large packing, they are one of the most expensive tapes, which can serve as a stumbling block to the expansion of the filament tapes market. Besides that, the filament can be cut lengthwise with a little power, and recent technical advances in production, as well as increased competition from alternative tapes, can both serve as roadblocks in the filament tapes market.