Sales of shipping tapes are anticipated to soar between 2022 and 2032, at a CAGR of 4.3%, according to Future Market Insights (FMI). The shipping tapes market is anticipated to grow to US$ 18.1 billion in 2022 and US$ 27.6 billion in 2032.
Using the best shipping tape is crucial to preventing accidents in any organisation where delivering products is done frequently. For mailing and shipping packages that could encounter several rough handling or contact points, shipping tapes are excellent.
When it comes to tapes, every company, customer, manufacturer, retailer, and distributor could have various tastes and requirements. Shipping tapes come in a variety of styles with a range of adhesives and materials. According to the needs of the customer, shipping tapes are simply customizable. Additionally, printing that may be customised on shipment tapes will support international brand identification.
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Growth will be aided by rising demand for third-party logistics providers (3PL) equipped with contemporary technologies to guarantee seamless execution in the supply chain. Businesses are clamouring for an innovative packaging solution that will save costs and facilitate effective supply chain management. Shipping tapes assist in preserving the packaged items’ integrity and safety along the supply chain, which will increase market sales.
It will be easier to track down packages if novel shipping tapes with barcode labels are available. Additionally, it is a quick and dependable choice for firms to gather data and lessen human error.
Applications for product identification, inventory tracking, and management will all benefit from it. Shipping tapes with barcode labels have shown to be less expensive and can reduce an organization’s wasteful costs, which would spur market growth.
“Owing to rising consumer preference and stringent environmental regulations, demand for eco-friendly and biodegradable shipping tapes has increased. Also, manufacturers are focusing on launching sustainable shipping tapes which is expected to bolster the global shipping tapes market,” comments a FMI analyst.
Security Driven Packaging Trends in Pharmaceutical and Food Industries to Drive the Shipping Tapes Market
Counterfeiting and low shelf life of products are two major concerns of end users, especially during long distance transits. To ensure safe deliveries, it is essential to adopt secure packaging solutions. Fluctuation in temperature and harsh environmental conditions can contaminate the product. Thus, the need to seal containers is important, which is further encouraging manufacturers to use shipping tapes for sealing their packages.
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Pharmaceutical shipments require secure tertiary packaging to ensure that the products arrive undamaged. Many lives are dependent on the packaging that protects drugs during their shipment.
Security in packaging is critical for the pharmaceutical sector. If the shipment does not go as planned, it can harm the patient’s health as pharma products must arrive within the required storage conditions and at the right time. Shipping tapes help in safeguarding the outer packaging and maintaining the integrity of the package, which would drive the market.
Key Takeaways: Shipping Tapes Market
- As per end use, the e-commerce segment is expected to generate a shipping tapes market share of 24% by 2032 with rising preference among people for online shopping.
- Sales of acrylic adhesives are expected to increase 1.5x the current sales owing to their low cost and wide accessibility in end-use industries.
- South Asia & East Asia are set to be the biggest markets for shipping tapes due to increased shopping through e-commerce platforms.
Adoption of Omni Channel Model by Retailers to Augment the Shipping Tapes Market
Retailing has become more popular with the increasing internet usage worldwide. Online shopping enable people to get their ordered products right at their doorstep.
The retail sector is growing astonishingly as various companies are expanding their stores and opening advanced facilities in untapped areas. The majority of the unorganized retail outlets are gradually merging with big retail supermarkets, hypermarkets, and similar other retail chains.
Many retailers are set to operate on the omni channel model and aim to fit in both online and offline channels. Increasing purchasing power of consumers and rising investment opportunities in the retail sector are driving the demand for shipping tapes.
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Competitive Landscape: Global Shipping Tapes Market
Some of the leading companies present in the global shipping tapes market include 3M Company, Intertape Polymer Group Inc., Shurtape Technologies LLC, tesa SE Group, Nitto Denko Corp, Berry Global Group Inc., Scapa Group plc., Bolex (Shenzhen) Adhesive Products Co. Ltd., Vibac Group S.p.a., Ultratape Industries Inc., Shanghai Yongguan Adhesive Productions Corp.,Ltd., Pro Tapes & Specialties, Inc., Maxfel S.R.l, NEUBRONNER GmbH & Co.KG, Loytape Industries SDN.BHD., Papertec, Inc., Windmill Tapes & Labels Ltd., Holland Manufacturing Co. Inc., Avery Dennison Corporation, and American Biltrite Inc.
Shipping Tapes Market Outlook by Category
By Adhesive Type:
- Natural Rubber
- Acrylic
- Others (Hot Melt, Water-Activated Tape, etc.)
By Backing Material:
- Paper
- Plastic
- Others (Metal Foil, Glass Fiber, etc.)
By End Use:
- Food & Beverages
- Pharmaceuticals
- Building & Construction
- E-Commerce
- Cosmetics & Personal Care
- Electrical & Electronics
- Shipping & Logistics
- Others (Textile, Agriculture, etc.)
Shipping Tapes Market Outlook by Category
By Adhesive Type:
- Natural Rubber
- Acrylic
- Others (Hot Melt, Water-Activated Tape, etc.)
By Backing Material:
- Paper
- Plastic
- Others (Metal Foil, Glass Fiber, etc.)
By End Use:
- Food & Beverages
- Pharmaceuticals
- Building & Construction
- E-Commerce
- Cosmetics & Personal Care
- Electrical & Electronics
- Shipping & Logistics
- Others (Textile, Agriculture, etc.)
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
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