New York (US), June 15, 2023 (GLOBE NEWSWIRE) --
Packaging Tape Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Packaging Tapes Market Information by Type, Material, Application, and Region - Forecast till 2030”, The market for packaging tapes garnered a valuation of USD 19,550 million in 2030 and will develop at a rate of 4.80% between 2022 and 2030.
Market Scope
An adhesive tape known as packaging tape is frequently used to prepare goods for handling, storing, or shipping. Packaging tapes are used to temporarily seal, wrap, enclose, and bundle goods like boxes, bottles, and other kinds of storage units that need to be kept apart. This aids in maintaining a tolerance that keeps the cargo contained within the confines of its container.
The expanding worldwide e-commerce industry is anticipated to be a major force behind the increased need for packaging tapes. Additional demand is anticipated to be generated by significant expansion in the packaged food and beverage market following COVID-19. However, it is anticipated that increased environmental laws and escalating skepticism about packaging tapes' effects on the environment will impede market expansion. Future business opportunities may arise from the growing amount of research and development being done on environmentally friendly packaging tapes. Because of its expanding e-commerce sector and growing population, the Asia-Pacific will be the dominant market for packaging tapes in the near future.
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Market Competitive Landscape:
The top companies in the packaging tapes industry are
- 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
- Lord Corporation
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size in 2032 | USD 19,550 million |
| CAGR | 4.80% (2023-2032) |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Forecast Units | Value (USD million) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Material, Application and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Key Market Drivers | Show rapid economic growth Increased purchasing power Growing e-commerce industries Increased investment in organized retail secto |
Browse In-depth Market Research Report (Pages 115) Packaging Tapes:
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Market USP Covered:
Market Drivers:
Due to their high applicability compared to other conventional methods, packaging tapes are simple to utilize. The demand for packaging tapes is increasing due to particular requirements, such as reduced vibration and bonding of incompatible materials. Packaging tapes exhibit quick processing, and since they don't release dangerous substances into the environment, there are no hassles associated with handling waste or mixing together materials.
Packaging tapes are highly tacky at ambient temperature, so they don't require additional solvent, heat, or water to provide strong adhesive forces. Such tapes can be handled correctly and removed from any surface without leaving any residue. Packaging tapes, as opposed to other ordinary tapes, keep their tackiness under normal climatic conditions and at room temperature.
Opportunities in Asia-Pacific's Developing Nations
A variety of new biodegradable packaging tapes are being created in response to the growing global demand for environmentally friendly products. The increase in preference is a result of both consumer preferences and the advent of strong environmental norms.
With the advent of hot-melt technology, adhesive tape manufacturers are now able to put the adhesive directly on backing materials like OPP (oriented polypropylene) film without the use of water or solvents. The Asia Pacific region is primarily where hot-melt-based technologies are becoming more popular. Emerging economies place a high value on innovations like curable adhesives (EB- and UV- for both acrylic and rubber systems).
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Market Restraints:
The changing environmental conditions are the factors impeding the expansion of the packaging tapes market. The primary purpose of packing tapes is to safeguard the product. However, the shipment faces numerous issues during the transit procedure because of drastic climatic fluctuations.
Another key factor impeding the market's expansion is the variation in the price of raw materials used in manufacturing during the epidemic.
COVID 19 Analysis
On the whole packaging sector, the COVID-19 outbreak had a mixed effect. Although the pandemic decreased demand for luxury, industrial, fashion, and B2B transport packaging, there was a significant increase in demand for packaging for products including grocery, healthcare and pharmaceuticals, and e-commerce transportation. Packaging tape consumption is anticipated to increase further as commercial activity gradually returns to pre-COVID-19 levels.
Market Segmentation
By Type
Double-sided tapes, filament tapes, light-duty packaging tapes, parcel tapes, and more are examples of different types of packaging tapes.
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By Material
The main material categories include Acrylic, Hot Melt, and others. Because of its low cost, simplicity of use, and high acceptance in a variety of end-use industries, including medical, consumer & office supplies, and packaging, the acrylic segment commands the largest share in the global market for packaging tapes. Due to its superior adhesive properties, the rubber-based segment can anticipate growth at the highest pace.
By Application
Consumer goods, chemicals, food, and beverage are the sectors where applications of packaging tapes are quite common.
Regional Insights
Asia Pacific accounts for the biggest volume share in the worldwide market and can capture a notable CAGR from 2020 to 2027. The strong business growth in the region is encouraged by the surging penetration of several online channels and e-commerce retail in India, Indonesia, and various countries in the region. But the contingency with regard to manufacturing trends post-COVID-19 pandemic can leave a negative impact on the regional market. Lockdown as well as social distancing practices adopted by several countries in the region has fostered the demand for online channels in the region. Therefore, the mounting preference for online delivery services in the region could be a favorable factor for the packaging tapes market in the region.
Asia Pacific is also a hub for textile manufacturing, with the region seeing booming sales of sports and outdoor apparel. The booming sales are the result of the increasing health awareness among the mass and rising interest in fitness activities, which bolsters the textile sector and in turn, the demand for taping solutions.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
