Dublin, Sept. 12, 2023 (GLOBE NEWSWIRE) -- The "Packaging Tapes Market by Tape Type, Material Type, End Use, and Region 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global packaging tapes market witnessed remarkable growth in 2022, with a total value of US$ 75.1 Billion. The market is set to expand further, aiming to reach US$ 98.1 Billion by 2028. This anticipated growth reflects a steady Compound Annual Growth Rate (CAGR) of 4.50% during the period from 2023 to 2028.
Understanding Packaging Tapes:
Packaging tapes play a pivotal role in ensuring secure and safe product transportation across various industries. They are crafted from various materials, designed to adhere to different surfaces, and deliver reliable sealing.
The manufacturing process of packaging tapes typically involves a base material, such as polypropylene or polyester, providing structural integrity, coated with an adhesive layer, commonly composed of acrylic, rubber, or hot melt, to enable adhesion to various surfaces. Manufacturers may enhance tape durability and strength by incorporating materials like fiberglass or reinforced filaments.
Packaging tapes are renowned for their ease of application and dependable adhesion, making them a versatile solution for packaging needs. They are available in a range of widths, lengths, and thicknesses to accommodate diverse packaging requirements.
Furthermore, packaging tapes come in various colors, aiding easy identification and categorization of packages. Their compatibility with both manual and automated packaging processes makes them suitable for small-scale operations and large-scale industrial applications. Currently, commonly available variants include pressure-sensitive, water-activated, and filament tapes.
Key Market Trends:
- Rising Demand for Packaging Solutions: The global surge in demand for packaging solutions, driven by industries like e-commerce, retail, and logistics, is a primary driver of market growth.
- Need for Secure and Efficient Packaging: There is a growing need for secure and efficient packaging options to ensure product safety during transit, further propelling market expansion.
- Online Shopping Boom: The rapid rise in online shopping activities has led to an increased demand for robust packaging materials, boosting market growth.
- Sustainable Packaging: A shift towards sustainable packaging solutions, alongside the growth of the e-commerce sector and increasing cross-border trade, is driving market expansion.
- Food and Beverage Sector: The application of packaging tapes in the food and beverage industry, coupled with strict regulations concerning product safety and hygiene, is contributing to market growth.
- Technological Advancements: Favorable technological advancements in adhesive formulations and innovative tape designs are positively influencing market growth.
- Expanding Industries: The expansion of the automotive and aerospace industries, as well as a growing focus on branding and aesthetics in product packaging, are fueling market growth.
Key Market Segmentation:
The report provides a comprehensive analysis of key market segments, including:
- Tape Type: Pressure-Sensitive Tape, Masking Tape, Duct Tape, Filament Tape, Others
- Material Type: Plastic, Paper, Metal Foil
- End Use: E-Commerce, Food and Beverages, Retail, Others
- Region: North America, Asia Pacific, Europe, Latin America, Middle East and Africa
Competitive Landscape:
The competitive landscape features key players in the industry, including 3M Company, ADH Tape, H.B Fuller company, Intertape Polymer Group Inc., LORD Corporation (Parker Hannifin Corporation), Nitto Denko Corporation, PPM Industries S.p.A., Scapa Group Ltd. (Mativ Holdings, Inc), Shurtape Technologies LLC, Tesa SE Group (Beiersdorf AG), and more. This is a partial list, and the complete list of companies is available in the report.
Key Questions Answered:
- Market Performance: How has the global packaging tapes market performed, and what is the outlook for the coming years?
- Drivers, Restraints, and Opportunities: What are the drivers, restraints, and opportunities in the global packaging tapes market, and how do they impact the market?
- Regional Markets: Which countries represent the most attractive packaging tapes market in different regions?
- Segment Analysis: What is the breakup of the market based on tape type, material type, and end use, and which segments are the most attractive?
- Competitive Analysis: What is the competitive structure of the global packaging tapes market, and who are the key players/companies?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 142 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $75.1 Billion |
| Forecasted Market Value (USD) by 2028 | $98.1 Billion |
| Compound Annual Growth Rate | 4.6% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/sev8kk
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