The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Seam Sealing Tapes Market.
It was estimated prior to this unanticipated outbreak that the Seam Sealing Tapes Market was expected to grow at a CAGR of 6.5% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Seam Sealing Tapes are multilayered adhesive films applied on sewn seams to prevent the leakage of water. Seam tapes are employed to waterproof apparel, footwear, automotive parts, and sporting goods.
Seam Sealing Tapes are of different types, such as single-layered and multi-layered, that are used with various backing materials, such as polyurethane and polyvinyl chloride.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Based on the type, the market is segmented as single-layered and multi-layered. The multi-layered segment held the larger share of the market in 2019, and is expected to remain dominant during the forecast period. The wide use of multi-layered seam sealing tapes in apparels, tents, tarpaulins, footwear, and backpacks, among others is propelling the growth of the segment during the forecast period.
Based on the backing material type, the seam sealing tapes market is segmented as polyurethane, polyvinyl chloride, and others. The polyurethane segment dominates the market. Further, its properties such as high abrasion, impact resistance, water resistance, and high flexibility are propelling the growth during the forecast period.
In terms of regions, Asia-Pacific is estimated to be the largest as well as fastest-growing seam sealing tapes market during the forecast period, with China, Japan, India, and Australia being the major countries with lucrative growth opportunities. The growth of the market is driven by the growth of various end-use industries, which is generating huge demand for seam sealing tapes and the presence of a large number of seam sealing tape manufacturers in the Asia-Pacific region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Some of the major seam sealing tape manufacturers are-