"Most in fact all of the manufacturers especially in the FMCG and Pharma sectors uses the sealing and strapping tapes to give final sealing of the goods/materials or products to be packed that it reaches down the supply chain untampered, safe and with relative easiness especially during the package and material handling during loading, offloading and transit. These tapes mostly are used to seal the corrugated board or paper board boxes to give shape and also final sealing of these boxes. The use of these tapes depends on the material being used and its properties to handle the stress and strain during the handling of the packaged material. Tensile strength, relative cheapness of different tapes and adhesive used are the key to determine the choice. Cost benefit ratio also forms a function in selecting a particular tape.
The growth of the manufacturing sector is the key to determine the demand of these tapes. The rise in urban population and the middle class are the key drivers for derived demand of these tapes.
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For the time being there is no substitute for such tapes and thus the restraints can be only from the environment side as these tapes are non-biodegradable. As of now these are not in the radar of environment activists. The opportunities are in the countries where the manufacturing sector is at boom especially due to lower wages. Such countries are in south Asian countries and taping those markets are good opportunity.
The Sealing & Strapping Tapes Market are segmented on the basis of Material: Paper, Polypropylene, Polyvinyl Chloride and Others; on the basis of type of adhesive: Acrylic, Rubber, Silicone and Others; By Application: Carton Sealing and Strapping & Bundling; by Geography: North America, Europe, APAC, MEA and LATAM.
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Carton sealing is the largest segment as almost all of the manufactured goods are card-boxed or corrugated box packed. In last decades with the rising use of fork lift in material handling at warehouses has helped in gaining the uses. The South Asian markets and China are the largest growing consumers of these tapes as these countries are becoming global manufacturing base especially for the exports.
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The sealing & strapping packaging tapes market is dominated by large players such as Avery Dennison Corporation (US), 3M Company (US), Nitto Denko Corporation (Japan), Intertape Polymer Group (Canada), Tesa SE (Germany), Scapa Group plc (UK), Shrutapes (US), Nichiban (Japan), Mactac (US), and Wuhan Huaxia Nanfeng Adhesive Tapes (China). These players have established brands, a wide product portfolio, and a strong geographical presence in various countries.
Most in fact all of the manufacturers especially in the FMCG and Pharma sectors uses the sealing and strapping tapes to give final sealing of the goods/materials or products to be packed that it reaches down the supply chain untampered, safe and with relative easiness especially during the package and material handling during loading, offloading and transit.
These tapes mostly are used to seal the corrugated board or paper board boxes to give shape and also final sealing of these boxes.
Tensile strength, relative cheapness of different tapes and adhesive used are the key to determine the choice.
Cost benefit ratio also forms a function in selecting a particular tape.
As of now these are not in the radar of environment activists.
The opportunities are in the countries where the manufacturing sector is at boom especially due to lower wages.
The sealing & strapping packaging tapes market size was estimated at USD 17.37 billion in 2018 and is projected to reach USD 22.07 billion by 2023 at a CAGR of 4.89%.
Furthermore, the market is estimated at USD 17.38 billion for the consumption of 35.61 billion square meters in 2018 and is projected to reach 43.92 billion square meters by 2023 at a CAGR of 4.28%, in terms of volume.♦ Download PDF Brochure - https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=136369024Key Market PlayersAvery Dennison Corporation (US), 3M Company (US), Nitto Denko Corporation (Japan), Intertape Polymer Group (Canada), Tesa SE (Germany).Recent DevelopmentsIn November 2018, Intertape Polymer Group acquired the control of a 29% stake for USD 9.9 Million in Powerband (India).
Acquiring a controlling interest in Powerband in 2016 provided the company with additional capacity for acrylic carton-sealing tapes in a low-cost manufacturing region to export these competitively-priced tape products to North America and Europe.
Since then, having the overseas asset has enabled IPG to expand its market share in North America and negotiate better terms on raw materials for the US production of similar packaging tapes.In September 2018, Scapa acquired Systagenix Wound Management Manufacturing Limited (US).
With this acquisition, both the companies entered into an exclusive five-year manufacturing & supply agreement.
With this acquisition, the company would be able to strengthen its product portfolio and cater to the increasing demand, thereby growing its geographic penetration.♦ Speak To Analyst – https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=136369024Critical questions the report answers:What are the upcoming trends in the aftermarket?
The Report Titled “Sealing & Strapping Packaging Tapes Market Report 2020, Competitive Landscape, Trends, and Opportunities” offers an in-depth assessment of the market by looking at the Market Growth, Drivers, Challenges, Opportunities, and Trends for the market to help the readers understand the overall scenario of the Sealing & Strapping Packaging Tapes industry.
The Sealing & Strapping Packaging Tapes Market report takes a holistic approach to the market and gives market insights, historical analysis, and verifiable projections pertaining to the market size in the forecast duration.
The estimations derived in this report are deduced by employing precise analytical tools, research methodologies, estimates, and reliable data sources.
This study assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.
Read more at: https://www.reportsanddata.com/report-detail/sealing-and-strapping-packaging-tapes-market The Sealing & Strapping Packaging Tapes market intelligence study includes a separate section dedicated to crucial parameters like the pricing structure of vital feedstock and value chain analysis, along with the study of major suppliers of the raw materials.
In market segmentation by manufacturers, the report covers the following companies -3M Company, Tesa SE, Avery Dennison Corporation, Nitto Denko Corporation, Scapa Group PLC, Intertape Polymer Group, Inc., Wuhan Huaxia Nanfeng Adhesive Tapes, Nichiban Co. Ltd, Mactac, LLC., and CCT Tapes.
