In 2021, the global packaging tapes market reached a significant valuation of US$ 71.7 Billion, and it’s projected to maintain a robust growth trajectory with a compound annual growth rate (CAGR) of 4.8%, ultimately reaching a staggering US$ 120.1 Billion by the year 2032.
With a forecasted compound annual growth rate (CAGR) of 5.6% between 2022 and 2032, China’s packaging tapes market is set for significant expansion. The nation is expected to maintain its dominant position within the East Asia packaging tapes market, presenting an incremental opportunity of US$ 10.7 billion from 2022 to 2032.
The packaging tapes market is set to exhibit robust growth, with a projected Compound Annual Growth Rate (CAGR) of 6.0% from 2022 to 2032. A significant contributor to this growth is the rapid expansion of the paper industry in India. The Indian Paper Manufacturers Association reports that India accounts for approximately 5% of global paper production, and the per capita paper consumption in the country is around 15 kilograms. These factors are driving the demand for packaging tapes, creating a favorable growth environment for the market.
China, a key player in the East Asia packaging tapes market, is expected to witness substantial growth with a CAGR of 5.6% from 2022 to 2032. The country boasts extensive production capacity, cost-effective labor, abundant raw materials, and advanced technology in the design process. Additionally, the booming e-commerce industry in China is a significant driver for the high demand for packaging tapes. These favorable conditions are poised to create substantial growth opportunities in the Chinese packaging tapes market, with an incremental opportunity of US$ 10.7 billion from 2022 to 2032.
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Key Packaging Tapes Market Takeaways and Projections
- The U.S. is expected to lead the North America Packaging Tapes market, projecting the fastest growth in the region between 2022-2032
- Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2032.
Key Players-
The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of Packaging Tapes market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.
It also provides a list of leading players and recent development in the global Packaging Tapes market. Some of the key players of global Packaging Tapes market are
- Nitto Denko Corporation
- Berry Global Group Inc.
- Saint Gobain Corporate
- Sonoco Products Company
- Intertape Polymer Group Inc.
- Shurtape Technologies, Llc
- PPM Industries SpA
- others
Competitive Landscape
- In September 2022, Tesa developed a new packaging tape with backing material made from recycled post-consumer PET. The company is focusing on sustainability by launching a new product, product includes 70% recycled (PCR) PET and a water-based acrylic adhesive system.
- In July 2022, H.B. Fuller Company has entered a strategic partnership with Enimac to strengthen their e-commerce packaging.
- In May 2022, Avery Dennison has announced an investment of 60 Million euros in capacity expansion in the European region.
Report Benefits & Key Questions Answered
- Packaging Tapes Historical Market Analysis: The detailed survey by FMI, examines key factors in the Packaging Tapes market that affected the growth in the market for the last assessment period 2016-2020 and also studies their consequent impact. It also provide refined the sales projection of the Packaging Tapes market for the forecast period 2022-2032.
- Packaging Tapes Category & Segment Level Analysis: The category & segment level analysis conducted by FMI studies the market in terms of segments. It studies the vital dynamics across each segment and also highlights their growth prospects in the coming ten years.
- Packaging Tapes Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Packaging Tapes for the assessment period. As per the study, the demand for Packaging Tapes will grow at a robust CAGR between 2022-2032.
- Packaging Tapes Company & Brand Share Analysis: A recent study by FMI highlights a comprehensive list of leading market players and stakeholders in the global Packaging Tapes market. It examines the business execution, cost structure analysis, and supply chain analysis, of Tier 1, Tier 2, and Tier 3 players for the forthcoming decade.
- Packaging Tapes Market Trend Analysis: The latest study by FMI on the Packaging Tapes market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.
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Packaging Tapes Market: Market Segmentation
By Material, Packaging Tape Market is Segmented as:
- Paper
- Plastic
- Metal Foil
By Tape Type, Packaging Tape Market is Segmented as:
- Pressure-Sensitive Tape
- Masking Tape
- Duct Tape
- Filament Tape
- Other Packaging Tapes
By End Use, Packaging Tape Market is Segmented as:
- Automotive
- Electric and Electronics
- Building and Construction
- Healthcare
- Aerospace
- Defense/Military
- Shipping & Logistics
- Other Consumer Durables
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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