Packaging Tapes Market Synopsis
Market Research Future (MRFR) projects that the global packaging tapes market size can achieve great success at a robust rate from 2016 to 2021, considered to be the forecast period.
Growth Drivers and Main Restraints
The packaging tapes have gained immense traction across the world, in the backdrop of massive growth of the global packaging industry. A variety of industries are making extensive use of packaging tapes since these tapes are able to bear extreme conditions while being transported. More and more players are developing innovative products like lightweight tapes and UV resistance tapes. Several advanced technologies, as well as machinery, are being deployed by manufacturers to process tape and substrate in order to bring down the overall time generally taken by the products to reach the aftermarket. The latest types of packaging tapes available in the market boast of absolute transparency, high aging resistance as well as clean positioning and good adhesion, among others.
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The packaging tapes market has managed to increase its application in different industries. Industries like retail packaging, food, and beverages, automobile and e-commerce are continuously utilizing packaging tapes. To illustrate, the automotive industry makes high demand for top-quality tapes like filament tapes, which is projected to induce tremendous market growth in the near future.
Parcel tapes enjoy high demand in the global packaging tape market, with wide acceptance in verticals like automotive and food and beverages, among others. The parcel tapes that are finding more and more use in various industries are generally translucent and brown, and are mostly used to pack corrugated boxes as well as common enclosing or sealing.
Some of the top players in the worldwide market for packaging tapes are H.B. Fuller Company, Franklin International, Henkel AG & Co. KGaA, 3M, Advance Tapes International, Adhesives Research Inc., Bostik SA, Avery Dennison Corporation, Nitto Denko Corporation, Ltd., Intertape Polymer Group and Lord Corporation, Evans Adhesive Corporation, Dow Corning Corporation, and others.
Monta, a renowned manufacturer of packaging tapes, has recently added to its Green line product range. This latest adhesive tape is created from 65% renewable resources and does not contain any synthetic plastics.
The regions that hold a varying share of the packaging tapes market include North America as well as Asia Pacific (APAC), Europe, and the Rest of the World (RoW).
APAC dominates the global packaging tapes market, on account of the fast development of the economic status, rising purchasing power, expanding e-commerce industries, and mounting investment in the organized retail sector. Rising purchasing power of customers in developing countries like India and China also fuels the demand for various food products, beverages as well as retail products, which leads to the rapid progress of the packaging tapes market size in the region.
A substantial portion of the global packaging tapes market belongs to North America, given the fast-expanding packaging industry in developed countries like the United States (U.S) and Canada. Further, the booming sports and outdoor apparel industry, backed by the surging health awareness among consumers as well as rising fitness activities, are inducing market growth in the region. The high demand for protective clothing as well as accessories such as surgical/medical, chemical and military protection garments also positively impact the regional market.
The thriving manufacturing sector in Europe is boosting the sale of packaging tapes. The evolving market dynamics can be another aspect that is giving birth to new avenues of operation in the region. The rising demand for eco-friendly products boosts the demand for packaging tapes that are made of recyclable and biodegradable materials, also stimulates the market growth in Europe.
Global market for packaging tapes has been extensively covered in the report, with the segmentation including type, material, and application.
The types of packaging tapes are Double-sided tapes, Filament tapes, Light-duty packaging tapes, Parcel tapes, and others.
The material-dependent segments in the market are Hot Melt, Acrylic, and others.
The applications of packaging tapes are increasing in Consumer Goods, Chemicals, Food & Beverages, and others.
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