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2nd January 2019, New York, NY

Seam tapes market to grow to US$ 283 million

Asia Pacific is expected to be the largest market and have the highest growth rate during the forecast period.Growth of the sports and outdoor apparel industry is expected to drive the overall growth of the seam tapes market. It is expected to grow from US$ 205 million in 2018 to US$ 283 million by 2023, at a CAGR of 6.7% during the forecast period, according to the latest report published by ReportLinker.

According to the report entitled Seam Tapes Market by Type, Backing Material And Region - Global Forecast to 2023, the seam tapes market is driven by various factors, such as the growing demand from the sports and outdoor apparel industry, increase in demand for protective clothing and accessories. However, the volatile price of raw materials can pose a challenge in the growth of the market.

The polyurethane segment is the fastest-growing in the seam tapes market, in terms of value, and is expected to grow at the highest CAGR during the forecast period. This growth is attributed to the various benefits of polyurethane in seam tapes compared to polyvinyl chloride, including 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.

The multi-layered segment is expected to dominate the seam tapes market during the forecast period, owing to the wide range of applications of multi-layered seam tapes in sports and outdoor apparels (caps, gloves, ski wear, swimwear, hiking and tracking apparels, raincoats and jackets, and bottom wear), military apparels (jackets, ponchos, fire suits, and flight jackets), medical apparels (gloves and gowns), protective garments, tents, tarpaulins, footwear, backpacks, automotive (seats, head & armrests, and airbags) and chemical protective garments.

Asia Pacific is expected to be the largest market and have the highest growth rate during the forecast period, owing to the presence of huge garment manufacturing hotspots such as China, India, Vietnam, Indonesia, and Bangladesh in the Asia Pacific region. Cheap labour cost and availability of domestically produced raw material place Asia Pacific as the preferable region to manufacture textile and apparels.

In addition to this, the growing demand for sports and outdoor apparels in China, Japan, and India driven by the growing health awareness, as well as an increase in consumer spending on value-added apparels attributable to the rising disposable income, is expected to create opportunities for the seam tapes market in the region.

The seam tapes market comprises major manufacturers, such as 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). In addition to this, it also includes end-users such as Adidas AG, The North Face, Ralph Lauren Corporation, Under Armour, Columbia Sportwear Company, The Dishang Group, Admiral Sportswear, KSA Polymer, Heartland Textile, Sattler AG, Dick's Sporting Goods, and Mountain Warehouse.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organisations operating in the seam tapes marketplace.

www.reportlinker.com

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