Elastic Rubber Tapes Market: Quantitative Analysis From 2019 To 2027 To Enable The Stakeholders To Capitalize On The Prevailing Market Opportunities
Elastic rubber tapes are used as elastic inserts in various textile and apparel applications such as underwear, swimwear, swim suits, knitwear, socks, bathing caps, lingerie, and sportswear. They possess properties such as high heat resistance, excellent launderability, zero shrinkage in wet as well as dry conditions, excellent wash resistance, and resistance to saline water, chlorine, and suntan lotions.
Global Elastic Rubber Tapes Market: Trends & Developments
Demand for fitness clothing and sportswear is anticipated to increase at a significant pace in the next few years, due to rising number of people taking up adventure sports and shifting focus toward healthy living. Increasing demand for sensuous, stylish, and premium innerwear is boosting the demand for branded innerwear across the globe. Awareness about fashion, media, and health and rise in the number of women spenders are boosting the demand for lingerie in the next few years. This is expected to propel the global elastic rubber tapes market during the forecast period. However, several factors such as shortage of skilled labor and rise in prices of raw materials required for the manufacture of elastic rubber tapes are expected to restrain the global elastic rubber tapes market during the forecast period.
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Global Elastic Rubber Tapes Market: Segmentation
Based on application, the global elastic rubber tapes market can be segmented into apparel, medical, home textile, fitness & rehab, and miscellaneous. Elastic rubber tapes are used in the apparel industry as elastic inserts in underwear, lingerie, intimate apparel, socks, swimwear, knitwear, and sportswear. They are used in waist and leg openings of underwear and in arm, leg and neck openings of swimwear. Elastic rubber tapes are used in the medical sector to manufacture tourniquets, bandages, and ear loops and diaphragms for face masks. Insert elastics are also employed in shoe covers, bouffant caps, and disposable clothing. Elastic rubber tapes are used as resistance or exercise bands as part of therapy exercises for rehabilitation as well as for restoration of muscle and joint functions. They are popularly used in sports training and other kinds of endurance and balance training programs. Elastic rubber tapes also cater to customer-specific requirements such as utility shock cords, shin guards, and as insert elastics for automobile covers, car seat covers, and luggage pockets.
Global Elastic Rubber Tapes Market: Regional Outlook
In terms of region, the global elastic rubber tapes market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the global market from 2018 to 2026, owing to rising demand for sports apparel and fitness wear led by growing awareness about health among the millennial population. In Asia Pacific, China is the leading consumer and importer of elastic rubber tapes, as it is one of the largest textile industries in the world. India is the second-largest market for elastic rubber tapes in Asia Pacific. The market in the country is expected to expand at a significant pace during the forecast period. Increasing disposable income, rising brand awareness, and growing fashion consciousness among the youth in India are driving the clothing & apparel industry in India. This is expected to drive the market for elastic rubber tapes in the country during the forecast period. The revival of economies in Europe and growing disposable income in countries such as Romania and Poland are expected to drive the apparel industry in the region in the near future. This, in turn, would increase the demand for garment accessories such as elastic rubber tapes in the region during the forecast period.
Global Elastic Rubber Tapes Market: Key Players
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Key players operating in the global elastic rubber tapes market are Garware Bestretch Limited, Navsari Elastic Products Pvt. Ltd., Habasit, PT. Fillattice Indah Industry, Vijay Elastics Ltd., Balaji Super Spandex, Altra, Cardinal Health, Zenith Garment Accessories Co., Ltd., China Besco Industrial Co., Ltd., and Tulip Elastics Pvt. Ltd.
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