Global Packaging Tapes Market - Overview
The global packaging tapes market is growing persistently. The market growth attributes to the spurting rise in the e-commerce and organized retail sector. Besides, the growing usage of packaging tapes across various industries, alongside the burgeoning packaging sector worldwide, drive market growth. Also, rising developments of high-performance packaging tape materials foster the growth of the market. Moreover, rapid increase in the economy and food & beverage industry escalates the growth of the market.
According to Market Research Future (MRFR), the global packaging tapes market is projected to garner exponential traction by 2030, posting an impressive CAGR during the review period (2021-2030). Augmenting demand from the consumer goods industry, alongside the rapid industrialization, boosts the growth of the market. Besides, increasing the consumption of packaging tapes for extensive applications in the packaging, electrical, and electronics sectors accelerate the market growth excellently.
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Global Packaging Tapes Market – Prominent Players
3M, H.B. Fuller Company, Avery Dennison Corporation, Henkel AG & Co. KGaA, Nitto Denko Corporation, Advance Tapes International, Adhesives Research Inc., Bostik SA, Dow Corning Corporation, Evans Adhesive Corporation, Ltd., Franklin International, Intertape Polymer Group and Lord Corporation are global Packaging Tapes Market key players are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global Packaging Tapes Market.
Additionally, factors such as the increase in urbanization and DIY projects influence the growth of the market. Besides, substantial R&D investments to drive innovations in tape materials, manufacturing techniques, and product developments foster the growth of the market. Consumers today are positively influenced by solutions using recycled content in plastic.
Rising developments of environmental packaging solutions using sustainable solutions increase market sales. On the other hand, price volatility and the demand-supply gap in raw materials required for production are the key factors anticipated to impede market growth.
Moreover, as in the case of other types of grouts that require frequent cleaning, the epoxy resins’ non-porous property prevents collection of grime, moisture or dirt, which is another property that adds to its appeal among the end-users. Although epoxy Packaging Tapes can be quite challenging in terms of installation, it still remains ahead of other segments due to extended longevity with better cleaning techniques.
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Packaging Tapes Market - Segments:
MRFR has segmented the market into four dynamics;
By Type : Filament Tapes, Double-Sided Tapes, Parcel Tapes, Light-Duty Packaging Tapes, and others.
By Material : Acrylic, Hot Melt, and others.
By Application : Food & Beverages, Chemicals, Consumer Goods, and others.
By Regions : Asia Pacific, Americas, Europe, and the Rest-of-the-World.
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Packaging Tapes Market - Regional Analysis:
The Asia Pacific region dominates the global packaging tapes market size. The largest market share attributes to the increasing demand from across the end-use industries. Besides, the continually rising consumption of packaging tapes and the burgeoning packaging industry in the region drive the regional market growth. Moreover, upsurge in demand in developing countries such as India, China, and Japan due to the growing food & beverages and consumer goods industry escalate the market demand. The APAC packaging tapes market is projected to retain its dominance throughout the estimated period.
North America stands second in the global packaging tapes market. The market growth is driven by the rapidly growing e-commerce industries in the region. Additionally, increased investments in the organized retail sector drive market growth. Also, well-established markets in Canada and Mexico contribute to the regional market growth, majorly. Besides, the increasing demand from the shipment & courier companies in the region accelerates the market sales in the region. The packaging tapes market in North America is expected to create a substantial revenue pocket during 2018-2023.
The Europe packaging tapes market holds a sizable share in the global packaging tapes market. Factors such as the burgeoning packaging, led by the food & beverage and consumer goods sectors, drive the regional market significantly. Moreover, the rapid industrialization impacts market growth positively. Furthermore, rise in productivity, R&D investments, and disposable income in demographics drive regional market growth. The European packaging tapes market is anticipated to grow at an impressive CAGR during the assessment period.
Industry/Innovation/ Related News:
June 17, 2020 ----- Essentra Packaging (the UK), a leading packaging solution company, launched the industry's first tear tape developed with recycled PET for flexible packaging. The new product, SupaStrip PCR, is made from recycled PET to combine the sustainability of rPET alongside the benefits of easy-opening and brand enhancement. Essentra manufactures pressure-sensitive tear tape, labels, closures, and seals for the packaging and labeling industry.
Essentra claims that its new tear tape is easy to implement within flexible packaging lines and intuitive to use, apparently providing fast, safe, and immediate access. Also, the tape's printability allows brand messages and logos to be added.
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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.
Market Analysis The Packaging Tapes Market will grow at a favorable CAGR in the forecast period (2020- 2027), in accordance to the new Market Research Future (MRFR) report.
Additional factors fuelling the market growth comprise the booming food service industry that is increasingly deploying tamper-evident sealing tapes that allows food distributors to offer improved safety during delivery, increasing need for high-bond-strength and fast-curing packaging solutions, and the increasing demand for packaging solutions in the different end-use industries like logistics, personal care, and food and beverages.
Key Players Eminent players profiled in the global packaging tapes market report include 3M, H.B.
Fuller Company, Avery Dennison Corporation, Henkel AG & Co. KGaA, Nitto Denko Corporation, Advance Tapes International, Adhesives Research Inc., Bostik SA, Dow Corning Corporation, Evans Adhesive Corporation, Ltd., Franklin International, Intertape Polymer Group and Lord Corporation.
It is highly preferred for its specific needs like bonding dissimilar materials and reduced vibration.
By application, the food & beverages segment will spearhead the market over the forecast period.
