ReportLinker, a France-based technology company that helps analysts and decision makers get industry data for their business, has released a latest report that claims seam tapes market to grow from US $ 205 million in 2018 to US $ 283 million by 2023. The market is expected to grow at a CAGR of 6.7 percent.
The report adds that the seam tapes market is dependent on the increasing demand of sports and outdoor wear industry, surge in demand for protective clothing and accessories. The volatile price of raw materials can pose a challenge to it.
The growing health awareness and increase in consumer spending on value-added apparels will also boost growth.
Asia Pacific is expected to be the biggest 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. China, Japan, and India have the highest chances of recording growth in this segment.
Notably, seam tape is the critical link in the chain of waterproof protection. When one wants to keep a sewn garment watertight, seam tape is applied to cover up those needle holes.