The global tape banding machine market, valued at USD 2.29 billion in 2022, is on track to reach USD 2.39 billion in 2023, with expectations to grow at a robust 4.3% CAGR from 2023 to 2033. The market is anticipated to total USD 3.65 billion by the end of the forecast period, driven by increasing adoption across industries such as food & beverages, logistics, healthcare, and electronics.
Key factors fueling this growth include a rising demand for advanced packaging solutions, particularly as industries seek to enhance productivity and sustainability. As companies increasingly prioritize eco-friendly packaging, tape banding machines, which use paper tape or plastic film to bundle multiple items, have emerged as the solution of choice. These machines help reduce waste, save time, and streamline production processes, making them an ideal fit for a variety of applications.
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The market’s trajectory is further supported by the dominance of automatic tape banding machines, which are expected to account for around 65% of the market value share by 2033. These automated systems offer enhanced efficiency, making them increasingly popular across industries that require high-volume packaging operations.
Efficiency and Eco-friendliness Fuel Market Expansion for Tape Banding Machine
The demand for tape banding machines is fueled by the rising need for effective and automated packaging solutions across various industries, including manufacturing, shipping, and e-commerce. These devices provide simplified packing procedures, which lower labor costs and increase production.
Since they frequently use recyclable materials and reduce waste, tape banding machines are increasingly popular as sustainable and environmentally friendly packaging solutions. The industry is pushed ahead by technological developments such as enhanced machine capabilities, user-friendly interfaces, and integration with other packaging systems.
Key Takeaways
- End users prefer machines with 1.6 to 2 seconds per strap capacity, and this category is expected to have a significant market value of USD 1.5 billion in 2023.
- From 2023 to 2033, the 1.6 to 2 seconds per strap segment is to experience a growth of 5.4% in the market.
- Automatic banding machines have high efficiency, making them ideal packaging solutions.
- In 2023, the United States acquired 14.9% of the market share for tape banding machines.
- During the forecast period, the United States market is going to boost at a CAGR of 2.6%.
- The Indian tape banding machine industry aims to boom from USD 139.9 million in 2023 to USD 269.9 million by 2033.
- During the projection period, the Indian market is scheduled to develop at a CAGR of 4.8%.
Competitive Landscape
Most significant participants in the tape banding machine market are shifting to advanced packaging. Leading tape banding machine manufacturers also use new product development to increase their market share among clients.
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
Recent Developments
- In April 2022, Transpak Equipment Corp announced its launch of a new auto pallet strapping machine with friction weld sealing technology.
- In March 2022, The Signode Industrial Group LLC expanded its automation portfolio and existing packaging technologies and warehouse automation offerings, including advanced robotics and vision systems, autonomous mobile robots, and a wide range of conveyors under the Simplimatic brand.
Key Segments
By Capacity:
- 1 to 1.5 seconds per strap
- 1.6 to 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
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- The Middle East & Africa
- Oceania
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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