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Seam tapes market expected to grow to $283 mn by 2023

04
Jan '19

Courtesy: Wikimedia

The seam tapes market is expected to grow from $205 million in 2018 to $283 million by 2023, at a CAGR of 6.7 per cent says a new report. The seam tapes market is dependent on the growing demand of sports and outdoor apparel industry, increase in demand for protective clothing and accessories. The volatile price of raw materials can pose a challenge to it.

Asia Pacific is expected to be the largest market for the seam tapes and have the highest growth rate during the forecast period owing to the presence of huge garment manufacturing hotspots in the region, says the report by ReportLinker, a France-based technology company that helps analysts and decision makers get industry data for their business.

Additionally, the growing demand for sports and outdoor apparels in China, Japan, and India driven by the growing health awareness and increase in consumer spending on value-added apparels, is expected to create opportunities for the seam tapes market in the region, noted the report.

The polyurethane segment, which is the fastest-growing segment in the seam tapes market in terms of value, is expected to grow at the highest CAGR during the forecast period. Similarly, the multi-layered segment is expected to dominate the seam tapes market owing to its wide range of applications, added the report.

The major manufacturers of seam tapes are Bemis Associates (US), Toray Industries (Japan), Himel Corp. (Korea), Sealon (Korea), Loxy AS (Norway), Gerlinger Industries (Germany) etc. (PC)

Fibre2Fashion News Desk – India

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