CHICAGO, December 19, 2018
CHICAGO, December 19, 2018 /PRNewswire/ --
According to the new research report "Seam Tapes Market by Type (Single-layered, Multi-layered), Backing Material (Polyurethane, Polyvinyl chloride), and Region (North America, Europe, Asia Pacific, Middle East & Africa, South America) - Global Forecast to 2023", published by MarketsandMarkets™, the Seam Tapes Market is expected to grow from USD 205 million in 2018 to USD 283 million by 2023, at a CAGR of 6.7%. Rising demand for sports and outdoor apparel, owing to growing health awareness among consumers and increasing fitness activities, drives the demand for seam tapes. Furthermore, the increase in demand for protective clothes and accessories that require seam tapes is further boosting its market growth.
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The multi-layered segment is estimated to be the larger segment type in the Seam Tapes Market, in 2018
The Seam Tapes Market has been segmented, on the basis of type, into single-layered and multi-layered. The numerous advantages of multi-layered seam tapes-in terms of superior waterproofing, excellent adhesion, and a wide range of applications-have contributed to the dominance of this segment in the Seam Tapes Market. Its numerous applications include apparels, tents, tarpaulins, footwear, and backpacks, among others. The single-layered segment is estimated to occupy a lesser share of the market, owing to the limited applications of single-layered seam tapes.
The polyurethane segment is projected to grow at the highest CAGR in the global Seam Tapes Market from 2018 to 2023
The polyurethane segment recorded the largest demand in the Seam Tapes Market and is projected to grow at the highest CAGR during the forecast period due to the various benefits of polyurethane in seam tapes, such as high abrasion, impact resistance, water resistance, and high flexibility. In addition to this, its wide range of applications, including outdoor gear, military gear, sports apparels, footwear, tents, tarpaulins, hazardous material suits, and backpacks have also contributed to its high growth.
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Asia Pacific is expected to hold the largest share of the Seam Tapes Market during the forecast period
Asia Pacific is expected to dominate the demand for seam tapes through 2023. Various factors such as strong government support, rapid economic development, availability of raw materials, and cheap labor are fueling the demand for the textile & apparel manufacturing industry in the region. Moreover, the growth of the Asia Pacific Seam Tapes Market is supported by the booming textile and garment manufacturing industries in countries such as China, India, Vietnam, Indonesia, Bangladesh, Cambodia, and Thailand.
Key players operating in the Seam Tapes Market include Bemis Associates (US), Toray Industries (Japan), Himel Corp. (Korea), Sealon (Korea), Loxy AS (Norway), Gerlinger Industries (Germany), DingZing (Taiwan), Adhesive Films (US), San Chemicals (Japan), and Essentra (UK). These players have established brands, a wide product portfolio, and a strong geographical presence.
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