Adhesive tape market is anticipated to grow at a CAGR of over 4 percent during the forecast period of 2022 to 2027. Increasing application of adhesive tapes in lightweight automotive vehicle, packaging and medical industries is propelling the market growth. The packaging sector will further drive the market due to the growing demand of adhesive tapes in various manufacturing sectors like agriculture, pharma, retail and FMCG. However, the consumers look for a trusted source that provides them with all kinds of industrial tapes required for their manufacturing practices. The lack of such comprehensive adhesive producers still remains a major drawback coupled with high pricing in the industry.
Upon observing the prevalent gaps in the industrial tape space, Jaimin Patel ventured into adhesive tape manufacturing and incepted Wellpack Polyplast Industries in 2016 for BOPP tapes. Patel went on to support the converters and remanufacturers by catering to every BOPP adhesive tapes need, providing machineries, raw materials and even proper guidance on technological aspects. Being in this industry for ten years, Patel has explored the vastness of the market to carve a niche for him and invested his in-depth domain knowledge in creating an infrastructure that stands out to be a one-stop solution for BOPP tape requirements.
Being at the helm of the operation as Director, he took Wellpack to the international level and made it an eminent exporter of BOPP self-adhesive tapes in India. The Industry Outlook Magazine engages in a conversation with Jaimin in order to know more about him and the value he is adding to the adhesive industry.
Give us a brief overview of Wellpack Polyplast Industries. Please elaborate on some important features about your expertise as a Director of Wellpack Polyplast Industries.
We started back in 2016 as a small company in hope of doing something good in adhesive tape industry. Now we are here and we are proud as well. We started back in 2016 with just small unit, year passed and we went through one by one expansion.
Every year we did technological expansions. Our reach increased by 2x-3x year on year. Number of clients increased by 2x-3x. From having small converting unit to having high-tech machines of each and every manufacturing facility in-house we grew with adequate rate. As a director my role was to concentrate on growth only. How a company can grow in both with numbers and value. We increased the number as well as value. And being from Coating background as well as automation background helped me a lot in technological expansions. Also, we believed in a attitude of keep pushing. We pushed our limits beyond what we can actually achieve.
Take us through your early educational journey and prior industry experience that you bring to the table.
I started my schooling in Ahmedabad and I used to be teacher's favourite and scholar throughout my education. I did my bachelor's in engineering from GTU with electronics and communications. Later before starting this venture I worked as an automation engineer in Automation field with reputed company in Ahmedabad. Later to gain further knowledge in terms of finance and commercial terms, I decided to do an MBA. Since childhood my only goal was to go into business and I chose what I liked the most and may be this is the reason I love whatever I'm doing in this business. My goal is never to earn money or to achieve something big but as I like doing business, it drives me, and this is what I think is the prime reason of my success.
What are the various roles & responsibilities that you currently shoulder at Wellpack Polyplast Industries? What are some of the most challenging aspects of your role as a Director? How do you overcome them?
Currently my role in this business is to maintain the growth, increasing client database, reach more geographic locations (domestic as well as international), increasing the reach in Africa and European countries, smoothening the commercial and logistical process within the company to the client location, overcome the biggest challenge of market diversification happening right now due to introduction of various converting units in remote places of India as well as internationally. Market is diversifying, share of market is diverting from big manufacturers to local convertors and to align with these convertors to capture maximum market share will be our prime goal in upcoming years.
Tell us about the expertise you possess in the self-adhesive tapes Industry. How are you driving growth within the company?
My role in this company was to aim the growth only. Each and every day we concentrate on growth aspect. For that we did technological expansions, changing commercial patterns, improving logistics and warehousing supports, transparent commercial terms. These are the main aspect of our industry and I always tried innovating in these fields. Also client retention ratio is also important in this constantly changing market condition. This industry need very basic thing, cost effectiveness and greater quality which can lead towards least wastage and maximum output. We work on this principle of least conversion and maximum output.
As a successful business leader, what would your advice be to young aspirants who aspire to become business leaders and entrepreneurs in the future?
One needs unique identification for understanding of the business. Don't dive in, first try it, use it, keep many options open and then grab the opportunity. I've seen young people are so anxious about start-up and new ventures, but what they miss out is starting from step one, or to start small. There is no shortcut to the success; I learnt it and I want other young business enthusiast to learn it as well. Field, Product, Model gives best result when individual hustle well and develop never give up attitude. Business ethics are also important factor in developing any business with strong base. Our prime goal was to stick to the business ethics in every circumstance and this way we were able to gain the confidence amongst our valuable clients and vendors. This is what we followed and i want the next generation to follow this as well.
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