The market for shipping tapes is anticipated to reach US$ 18.1 billion in value in 2022 and grow at a CAGR of 4.3% during the anticipated time frame (2022-2032). The market for shipping tapes is now estimated to be worth roughly US$ 17.6 billion, and by 2032, it is expected to increase by 1.6 times to US$ 27.6 billion.
The worldwide tapes industry, which is anticipated to be valued US$ 74.8 Bn in 2022, is expected to account for almost 24% of the market for shipping tapes.
Revenues in the acrylic adhesive section of the shipping tapes market increased 3.3% year over year in 2021. According to FMI, the demand for natural rubber adhesives rose by 4.8% between 2020 and 2021.
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By backing material, the plastic market is anticipated to rise by 2x by the end of 2031 compared to present sales, expanding at a CAGR of 3.1% from 2020 to 2031. On the other hand, the segment’s revenue from paper backing materials reached US$ 9.8 billion in 2021. Because the top 5 providers held between 15% and 20% of the worldwide shipping tape market, demand for paper-backed shipping tapes will increase.
Due to rising e-commerce use, shipping tape sales increased at a CAGR of 4.2% in 2021. However, Future Market Insights (FMI) anticipates that the growth of the pharmaceutical and food & beverage sectors will lead to a rise in the global market for shipping tapes.
Competitive Landscape
Key players operating in the global shipping tapes market are adopting a variety of marketing strategies, including acquisitions, expansions, and partnerships to gain a competitive edge. Some of the key manufacturers are also focusing on new product development to expand their market presence among customers. A few recent developments in the global market are as follows:
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- In January 2022, tesa SE Group established a new manufacturing facility at Vietnam. Through this expansion, the company is planning to increase its consumer reach and fulfil the increasing demand for adhesive tapes by producing 40 Mn.Sq.M. tapes per year.
- In May 2021, Intertape Polymer Group launched a sleek and durable manual water-activated tape called Curby Mini-Taper for e-commerce retailers who require all the unique benefits of this tape to ship packages globally.
Key Players:
- 3M Company
- Intertape Polymer Group Inc.
- Shurtape Technologies LLC
- tesa SE Group
- Nitto Denko Corp
- Papertec, Inc.
- Holland Manufacturing Co. Inc.
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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
- Middle East & Africa
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