Sealing & Strapping Packaging Tapes Market Size by Application, Type of Adhesive, Material, Region – Revenue Pool Analysis, Margin Structure Assessment, Capital Flow Trends, Competitive Benchmarking & Forecast to 2030
Overview
The Sealing & Strapping Packaging Tapes Market size was valued at USD 23.86 Billion in 2023 and the total Sealing & Strapping Packaging Tapes revenue is expected to grow at a CAGR of 4% from 2024 to 2030, reaching nearly USD 31.40 Billion.
Sealing & Strapping Packaging Tapes Market Dynamics:
Sealing & strapping packaging tapes are generally used by various end-user industries, subject to their beneficial features like sealing heavy boxes and bundling of unpacked products. Other benefits associated with the use of sealing & strapping packaging tapes include good shear strength, better adhesion property, elongated shelf life due to the existence of filaments & adhesive, and allowing of printing & illustrations seen through the tape.
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The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Worthwhile application of these products in sports and outdoor apparel sector as a result of massive health awareness among the consumers and rise in the fitness activities will drive the sealing & strapping packaging tapes market growth in the years to come. Moreover, the rise in demand for protective clothing and accessories such as military, surgical/medical, and chemical protection garments are prominently leveraging the growth of tapes market.
Growing demand for the products in carton sealing and the strapping & building will further accelerate the tapes market earnings over the forecast period. However, high cost of raw material, and stringent regulations for restructuring the adhesive-based packaging tapes market can act as a major restraint for the sealing & strapping packaging tapes market growth. The sealing & strapping packaging tapes market is segmented by material, polypropylene segment is expected to account for the largest share of the sealing & strapping packaging tapes market.
This dominance of this segment is attributed to its properties such as high abrasion, impact-resistant, water-resistant, and high flexibility. These properties have led to rising preference for polypropylene, which is used in the production of apes. The paper segment is anticipated to be the second-largest segment, due to several properties such as flexibility, transparency, light-weight, and a good barrier to oxygen and water.
Intertape Polymer Group is one of the global manufacturers of several paper- and film-based and complementary packaging systems. Strong global presence and specialization in the production of sealing & strapping packaging tapes confirmed its leading position in the market. The company has a strong geographical reach, for instance, it activates in 17 locations worldwide, having 11 manufacturing sites in North America, Europe, and in some countries of the Asia Pacific.
Regional Insights:
Geographically, Asia Pacific region is estimated to witness the fastest growth in the tapes market, in terms of growth.
This high growth of the market is attributed to the booming packaging industry in emerging economies such as China, India, Vietnam, Japan, and Taiwan in the Asia Pacific region. As well, these countries are the largest exporters of packaging materials globally. Low-cost labor and availability of domestically produced raw materials have further contributed towards the growth of the tapes market in this region. Also, sealing & strapping tapes market in North America is projected to register moderate growth rate over the long run, followed by tapes market in Europe.
Report will help to decision maker as forecasts about the market are formed based on a detailed analysis of factors such as drivers, restraints, popular trends of past and present times, regulatory scenario, recent improvements in terms of technology and products, level of competition in sealing & strapping packaging tapes market.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global Tapes market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global Tapes market.
Sealing & Strapping Packaging Tapes Market, Key Highlights:
Global Sealing & Strapping Packaging Tapes Market analysis and forecast, in terms of value.
Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Tapes Market
Global Tapes Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
Sealing & Strapping Packaging Tapes Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
Global Sealing & Strapping Tapes Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Market are also profiled.
Sealing & Strapping Packaging Tapes Market Scope: Inquire before buying
| Sealing & Strapping Packaging Tapes Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2023 | Forecast Period: | 2024-2030 |
| Historical Data: | 2018 to 2023 | Market Size in 2023: | USD 23.86 Bn. |
| Forecast Period 2024 to 2030 CAGR: | 4% | Market Size in 2030: | USD 31.40 Bn. |
| Segments Covered: | by Application | Carton sealing tapes Strapping & bundling |
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| by Type of Adhesive | Acrylic Rubber-based Silicon Others (EVA and Butyl) |
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| by Material | Paper Polypropylene Polyvinyl Chloride Polyester Others (Reinforced Fiberglass and polyethylene films) |
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Sealing & Strapping Packaging Tapes Market, By Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest)
Key Players are:
1.Avery Dennison Corporation (US)
2.3M Company (US)
3.Nitto Denko Corporation (Japan)
4.Intertape Polymer Group (Canada)
5.Tesa SE (Germany)
6.Scapa Group plc (UK)
7.Shurtapes Technologies
8.Nichiban (Japan)
9.Mactac (US)
10.Wuhan HuaxiaNanfeng Adhesive Tapes (China)
11.Berry Plastics Corporation
12.Advanced Tapes International
13.CCT Tapes
14.Ajit Industries
15.Stick Tapes Private Limited
16.Can-Do National Tape
17.Euro Tapes Private Limited
18.UltraTape
19.U Pack
20.RAJAPACK Ltd.
Frequently Asked Questions:
1. Which region has the largest share in Global Sealing & Strapping Packaging Tapes Market?
Ans: Asia Pacific region holds the highest share in 2023.
2. What is the growth rate of Global Sealing & Strapping Packaging Tapes Market?
Ans: The Global Tapes Market is growing at a CAGR of 4% during forecasting period 2024-2030.
3. What is scope of the Global Sealing & Strapping Packaging Tapes market report?
Ans: Global Packaging Tapes Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.
4. Who are the key players in Global Sealing & Strapping Packaging Tapes market?
Ans: The important key players in the Global Market are – Avery Dennison Corporation (US), 3M Company (US), Nitto Denko Corporation (Japan), Intertape Polymer Group (Canada), Tesa SE (Germany), Scapa Group plc (UK), Shurtapes Technologies, Nichiban (Japan), Mactac (US), Wuhan HuaxiaNanfeng Adhesive Tapes (China), Berry Plastics Corporation, Advanced Tapes International, CCT Tapes, Ajit Industries, Stick Tapes Private Limited, Can-Do National Tape, Euro Tapes Private Limited, UltraTape, U Pack, and RAJAPACK Ltd.
5. What was the Global Sealing & Strapping Packaging Tapes Market size in 2023?
Ans: The Global Sealing & Strapping Packaging Tapes Market size was USD 23.86 Billion in 2023.