A detailed study on Packaging Tapes market by FMI provides riveting insights into key dynamics, such as drivers and opportunities, facilitating the growth in the market. It uncovers challenges posing threats and highlights prospects for growth in the near future.
The global packaging tapes market is set to enjoy a market valuation of US$ 71.7 Billion in 2021, and register a CAGR of 4.8% % to reach US$ 120.1 Billion by 2032.
Packaging tapes are adhesive materials used to seal and secure packages, cartons, and boxes. These tapes offer excellent adhesion, durability, and flexibility, making them ideal for various packaging applications. The Packaging Tapes Market encompasses a wide range of products, including pressure-sensitive tapes, water-activated tapes, and specialty tapes.
The Growing Demand for Packaging Tapes
The Packaging Tapes Market has experienced substantial growth due to several factors. The increasing e-commerce industry, globalization of trade, and growing emphasis on sustainable packaging practices have fueled the demand for packaging tapes worldwide. The need for tamper-evident packaging solutions and the rising demand for customized packaging have further contributed to the market’s expansion.
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Factors Driving the Packaging Tapes Market
The Packaging Tapes Market growth is influenced by several factors that shape the industry dynamics. Understanding these drivers is crucial for businesses operating in the market and for stakeholders looking to invest in the packaging industry.
1. Rapid Expansion of E-Commerce
The exponential growth of the e-commerce sector has significantly impacted the Packaging Tapes Market. With the increasing popularity of online shopping, the need for secure and reliable packaging solutions has surged. Packaging tapes, with their ability to provide sturdy sealing and tamper resistance, have become indispensable for e-commerce businesses.
2. Globalization and International Trade
The globalization of trade has opened up vast opportunities for businesses to expand their markets globally. International trade requires robust and efficient packaging to ensure product integrity throughout the shipping process. Packaging tapes provide a cost-effective solution for securing goods during transit, driving their demand in the international trade landscape.
3. Emphasis on Sustainable Packaging
In recent years, there has been a growing emphasis on sustainable packaging practices to minimize environmental impact. Packaging tapes made from recyclable materials, such as biodegradable films and water-based adhesives, are gaining traction in the market. The eco-friendly characteristics of these tapes align with the sustainability goals of various industries, driving their adoption.
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.
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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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Competitive Landscape Analysis
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
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
Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial – Buy the report! https://www.futuremarketinsights.com/checkout/2040
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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