The global tape banding machine market has exhibited robust growth, with a market size reaching US$ 2.29 billion in 2022. Projections indicate continued expansion, with an estimated valuation of US$ 2.39 billion in 2023. Over the forecast period from 2023 to 2033, the tape banding machine market is expected to maintain a steady growth trajectory, boasting a Compound Annual Growth Rate (CAGR) of 4.3%. By the conclusion of 2033, the market is anticipated to achieve an impressive valuation of US$ 3.65 billion, reflecting sustained demand and market expansion.
Rising adoption of tape banding machines across diverse industries including food and beverages, electronics, logistics, and packaging is a key factor pushing demand in the global market.
Tape banding machines bundle and pack the products while also protecting fragile, high-end materials. To keep a strong grasp on objects without inflicting damage, the banding machine uses a wide, delicate material like paper tape, plastic film or a ribbon.
Growing need for protecting products during shipping and transportation, and utilization of these machines in various industries such as logistics and warehousing, food and beverage, healthcare and pharmaceutical, for packaging of goods are expected to fuel the market growth over the forecast years.
Moreover, increasing consumption of packaged food and in the demand for online food delivery is anticipated to accelerate growth in the tape banding machines market during the forecast period.
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The band tensioning method is more accurate and beneficial as compared to strapping. Banding allows high-quality printing, is easy to open and has a wider variety of binding materials.
Tape banding machines are available in both semi-automatic and automatic configurations. Automatic machines are majorly used for high-volume production lines and are high in performance. They are fully automated, bundle the product, seal it and cut the bands.
Vital Dynamics Accelerating the Market Expansion of the Tape Banding Machine
Tape banding machines have gained widespread usage in the food packaging industry, particularly as the packaging sector has witnessed consistent growth in recent years. The demand for advanced packaging solutions, such as tape banding machines, has surged due to their effectiveness in securely packaging food products.
According to a report from the Foodservice Packaging Institute, 80% of foodservice suppliers and manufacturers reported an increase in volume, with 58% anticipating profit growth in 2022. The continual rise in the consumption of packaged food and the prevalence of online delivery services are anticipated to drive the demand for food packaging in the forecast period. Consequently, the tape banding machine market is expected to experience steady growth in sales, aligned with the expanding needs of the food packaging industry.
Key Takeaways from Tape Banding Machine Market
- By operation, the automatic tape banding machines segment is expected to hold 62.6% of the market share in 2032.
- Based on end use, logistics and warehousing segment is expected to grow 1.5 times of its current size by the end of forecast period.
- By capacity, 1.6-2 seconds per strap is expected to grow at a CAGR of 5.1% during the forecasted year
- The U.S. tape banding machine market is likely to surge at 2% CAGR through 2032.
- Demand for tape banding machines in India is anticipated to rise at 4.3% CAGR, reaching a valuation of US$ 249.5 Mn by 2032.
With Advanced Technology, Banding Machines Are Acting as a Perfect Companion for Primary Packaging
When it comes to the bundling of consumer goods like fruits & vegetables, banding is the perfect primary packaging option for products as it does not generate any harmful waste. With ultrasonic technology, 100 % eco-friendly, non-toxic and adhesive-free bands are used.
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Key Players
- Dynaric, Inc.
- StraPack, Inc.
- HAMME MAKINE A.S.
- SUNPACK
- Transpak Equipment Corp.
- Signode Industrial Group LLC
- Fromm Holding AG
- ATS-Tanner Banding Systems AG
- FELINS
- Bandall International.
- Avi International Packaging Co.
- The Plastic Strapping Company Ltd
- Join Pack Machines Private Limited.
- Millenium Packaging Solutions
- TPC Packaging Solutions
- Cyklop Global Packaging Solutions
- Kopack Enterprises
Tape Banding Machine Market by Category
By Capacity:
- 1-1.5 second(s) per strap
- 1.6-2 seconds per strap
- More than 2 seconds per strap
By Operation:
- Semi-Automatic
- Automatic
By End Use:
- Logistics & Warehousing
- Food & Beverage
- Healthcare & Pharmaceutical
- Electronics and Electrical
- Agriculture & Construction
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