The global paper tapes market is poised for substantial growth, with sales expected to account for US$ 5.6 billion in 2023 and projected to accelerate at a CAGR of 4.6% throughout the estimated timeframe, reaching a valuation of US$ 9.0 billion by 2033. Top companies across the globe are anticipated to generate around 20% to 22% of market share in 2022.
Unlock Valuable Knowledge: Get a Free Report Sample Now: https://www.futuremarketinsights.com/reports/sample/rep-gb-10769
Versatile Applications and Superior Strength Drive Market Growth
Paper tapes, available in various types for packaging, masking, consumer, and stationary use, are witnessing increased adoption across industries. With good abrasion and tensile strengths, paper tapes are indispensable in the building and construction industry for applications requiring durability and removability, such as masking during painting. Their ability to offer fast stick, superior adhesion, and high tensile strength makes them popular for both indoor and outdoor applications, particularly in construction.
Masking Tape Segment at the Forefront
The masking tape segment is projected to lead the market, being considered a versatile type of tape globally. With a projected absolute dollar opportunity of around US$ 3.3 billion from 2023 to 2033, the paper tape industry is set for significant growth.
Eco-Friendly Packaging Driving Sales
Increasing demand for eco-friendly and sustainable packaging materials is a key factor driving the sales of paper tapes. As industries prioritize environmentally friendly solutions, paper tapes emerge as a preferred choice for packaging delicate products due to their efficiency and sustainability. With the paper tapes industry expected to expand 1.6 times its current value during the forecast period, the market presents lucrative opportunities for stakeholders.
Paper tape is a viable alternative to plastic tape, as packaging is essential in both the industrial and commercial sectors. The E-commerce industry is adopting paper tapes for packaging purposes due to their high sustainability, as compared to plastic tapes.
Key Takeaways from Paper Tapes Market
- Masking tape segment by product type is projected to expand 3x the current value during the forecast period.
- Packaging application segment is anticipated to account for 0% of the paper tapes market share by 2023.
- The building & construction end use segment is estimated to account for around 9% of the paper tapes market share by 2023.
- India paper tapes market is anticipated to create an absolute dollar opportunity of US$ 314.3 million during the estimated time frame.
- Germany paper tapes market is likely to generate a considerable share of around 8% in 2023.
“Increasing demand for paper tapes as they act as a superior alternative to plastic, is projected to drive sales worldwide. High recyclability of paper tapes is another prominent factor that is anticipated to push demand in the global market,” says a lead analyst at Future Market Insights.
Car Modification in Automobile Industry to Boost Demand for Paper Tapes Worldwide
Paper tapes are gaining immersive attention in the automobile industry as vehicles require frequent renovation of damaged parts. These parts need to be painted accordingly, either earlier or with modified colors. Paper tapes are used during the painting and air spraying process to avoid color mixture from one end to other.
Finishing occurs after the paint is air sprayed, and paper tapes are removed from specific parts. No residue is left behind, as it is removed in the process. Paper tapes would eventually become popular as they provide a professional finish to automobiles.
Competition Landscape: Paper Tapes Market
Key players operating in the global paper tapes market include Scapa Industrial, Vibac Group S.p.a, 3M Company, Intertape Polymer Group Inc., Saint-Gobain Tape Solutions Europe, Shurtape Technologies LLC, Folsen Tapes, Advance Tapes International Ltd., Tesa SE, FABO s.p.a., Nitto Belgium NV, and Berry Global Inc. among others.
Purchase Now to Access Segment-specific Information and uncover Key Trends, Drivers, and Challenges: https://www.futuremarketinsights.com/checkout/10769
Key Segments Covered in Paper Tapes Industry Research
by Product Type
- Masking Tape
- Packaging Tape
- Consumer & Stationary Tape
- Others
by Adhesive
- Rubber-based Adhesive
- Acrylic-based Adhesive
- Silicon-based Adhesive
by Application
- Masking
- Packaging
- Sealing
- Bundling
- Fixing
- General Use
- Decorating
- Labelling
- Framing
- Tabbing & Splicing
by Feature Type
- Single sided
- Double sided
by End User
- Building & Construction
- Automotive
- Retail & Logistics
- Aerospace & Defense
- Healthcare
- Electronics & Electrical
- General Industries
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
Contact:
Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse latest Market Reports: https://www.futuremarketinsights.com/reports
