The Packaging Tapes Market is one of the growing markets in recent days. This has reached the value of the USD of 19,550 million in the year 2030 and is expected to reach the CAGR value of the 4.80% in the year 2030.
Packaging Tapes Market OverviewThe Packaging Tapes Market is one of the growing markets in recent days. This has reached the value of the USD of 19,550 million in the year 2030 and is expected to reach the CAGR value of the 4.80% in the year 2030. The main driver which boosts the Packaging Tapes Market Growth is the increase in the demand to secure and protect the shipments. As there is rapid growth in the E-Commerce sectors, the growth of the Market is also tremendous. The growth of the E-commerce sector boost the Market because there is the need to transport the packages in a safe and secured manner. So, there is an increase in the usage of the Market.
COVID AnalysisAs everyone knows about the drastic changes which are caused by the spread of the pandemic in the year 2020. The spread of the pandemic has caused a great impact in many industries. The outbreak of the pandemic has even caused an impact on the growth of the Packaging Tapes Market Share. As there was no availability in the transport, and the unavailability of the raw materials has caused a negative impact on the growth. Even there was no possibility of transportation for the E-Commerce sectors. This has also reduced the growth of the Packaging Tapes Market Value.
Market Dynamics Crucial Market driversThe main reason which boosts the growth of the Packaging Tapes Market Value is the adoption of the E-Commerce sectors have been increased in recent days. To send the products to the customers, the E-Commerce companies are using the tapes for the packaging of the products. The rapid growth in economic growth in the purchasing of the products from the E-Commerce platform is also one of the main reasons which bring a positive impact on the growth of the Market.The usage of packaging products in the food and beverage industry is also one of the main reasons which bring the growth impact among the Packaging Tapes Market. Also, the growth of the automobile sector boosts up the demand for the manufacture of package tapes. Additionally, the increase in the usage of the packaging tapes in the healthcare centres to transport the medicine is also the added advantage that boosts the growth of the Packaging Tapes Market.
The market growth opportunities
The main growth opportunity of the Packaging Tapes Market is because of the increase in the investor’s interest to invest in the Market is one of the main reasons which brings the rapid growth in the packaging industries. Additionally, the rapid growth in the purchasing power of packaging products is also one of the main reasons for the growth.
The market restraints
The restraints which cause the hindrance in the growth of the Packaging Tapes Market is the changes in the environmental conditions. As for the packaging tapes, the main need is to protect the package. But while in the transportation process due to the extreme climatic changes the package must undergo many problems during the transportation. Also, the fluctuation of the cost of the raw materials for the manufacture during the pandemic time is one of the main reasons which hinder the growth of the Market.
The market challenge
Due to the increase in the development in the Packaging Tapes Market, people are started to increase their thoughts about the tapes. So the manufacturing companies are in the need to increase their technological advancement. Due to this, the packaging tapes manufacturing companies are in great urge to develop their features to gain the trust of the customers. Also, the manufacturing companies are in great demand to produce tapes that can work with UV resistance and also which has a lightweight nature.
Cumulative growth analysis
The overall growth of the Packaging Tapes Market Analysis is been great in recent days because of the growth of the E-Commerce platform. Also, the reason for the growth of the packaging tapes is because of its special nature like they are available in good adhesion, absolute transparency, and also because of the high ageing resistance. Even due to the increase in the growth of the Packaging Tapes Market there is an increase in the demand for packaging products.
Value chain analysis
The growth of the Packaging Tapes Market Forecast period is stable and steady because of the gradual growth of the packaging industries in recent days. This growth in recent days is because of the usage of the packaging tapes in the food and beverage products, automotive industries and also in the E-Commerce industries.
The growth is also gradual and steady because of the specific uses of the packaging tapes in many industries. This growth is also possible even because of some specific features like good adhesion, great transparency and the nature of bearing even in the high temperature.
Market segment overview
Light-duty packaging tapes
By material type
Food and beverage
North America – US, Canada
Latin America – Mexico, Brazil, Peru, Chile and Others
Western Europe – Germany, UK, France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg
Eastern Europe – Poland, Russia
Asia Pacific – India, Japan, China, ASEAN, Australia, New Zealand
The Middle East and Africa – GCC, Southern Africa, North Africa
Due to the increase in the growth and the usage of the Packaging Tapes Market, the key players are working for their development in the market value. Because of this, there is great competition among the key players in the market. They are working hard to gain the trust of the customers. So the manufacturing companies are working to improve their strategies and techniques to increase their product standard. Even in the increase in the technology in the recent days the customers are also expecting the development in the packaging tapes, which has the extra features like the bearing the UV radiations.
There are many regions where the availability of the Packaging Tapes Market has been increased. They are North America, Europe, Asia Pacific and the Middle East and Africa.
The important region which is dominating the Market in the Asia Pacific region. This growth is because of the rapid growth of the economy, and also because of the increased purchase in the E-Commerce platform. Then additionally the demand and the increase in the investment in doing the investment in the retail sectors are also boosting the growth of the Packaging Tapes Market.
Later on, the Asia Pacific region is been followed by North America. It is expected that North America is getting the growth in the forecasting period. This growth is because of the countries like the US, Canada etc.
The other regions like Europe, the Middle East and Africa is been expected to get the growth in the future.
Avery Dennison corporation
Henkel AG and Corporation
Nitto denko corporation
Advance tapes international
Adhesives Research Inc
Dow Corning corporation
Evans Adhesive corporation
Intertape polymer group
There are many reasons why the key players are working with the new strategies. The main reason is the growth of their manufacturing companies. To get the proper value in the growth they are performing various techniques and strategies. They are also even using the merging and collaboration with the other companies. So that they can complete the large projects in a short span.
In August 2019, the kite packaging company has launched the four new machine tapes that are available in two different sizes- 48mm and another one is 75mm.
In 2019, the kite packaging company has also introduced the new kite low noise solvent tape and the vinyl tapes. As these types of packages tapes are available in the low-cost availability.
In February 2020, the Monta has introduced self-adhesive tapes which consist of natural rubber adhesive.
Overall growth analysis of the market
Cumulative growth analysis
Value chain analysis
|Market Size||USD 19,550 million|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Material, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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|
|Key Market Opportunities||
|Key Market Drivers||
Major types of packaging tapes include double-sided tapes, filament tapes, parcel tapes, light-duty packaging tapes, and others.
Major applications of packaging tapes include food and beverages, consumer goods, chemicals, and others.
The growing retail sector and ecommerce sector is likely to be a major driver for the packaging tapes market.
Asia Pacific is the dominant regional market for packaging tapes.
Leading players in the global packaging tapes market include 3M, Avery Dennison Corporation, and Henkel, among others.
What are the Packaging Tapes Market Trends which is been followed in the recent days?
In recent days due to the increase in the growth of the usage of the Packaging Tapes Market, it has a high chance of development and the need in the future. As these tapes are even used in the food and beverage packaging and even in the E-Commerce platforms