Global Sealing & Strapping Packaging Tapes Market was valued US$ 14.29Bn in 2017 and is expected to reach US$ 24.37 Bn by 2026, at a CAGR of 6.11% during a forecast period.
Sealing & strapping packaging tapes are generally used by various end-user industries, subject to their beneficial features like sealing heavy boxes and bundling of unpacked products. Other benefits associated with the use of sealing & strapping packaging tapes include good shear strength, better adhesion property, elongated shelf life due to the existence of filaments & adhesive, and allowing of printing & illustrations seen through the tape.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Worthwhile application of these products in sports and outdoor apparel sector as a result of massive health awareness among the consumers and rise in the fitness activities will drive the sealing & strapping packaging tapes market growth in the years to come. Moreover, the rise in demand for protective clothing and accessories such as military, surgical/medical, and chemical protection garments are prominently leveraging the growth of sealing & strapping packaging tapes market.
Growing demand for the products in carton sealing and the strapping & building will further accelerate the sealing & strapping packaging tapes market earnings over the forecast period. However, high cost of raw material, and stringent regulations for restructuring the adhesive-based packaging tapes market can act as a major restraints for the sealing & strapping packaging tapes market growth.The sealing & strapping packaging tapes market is segmented by material, polypropylene segment is expected to account for the largest share of the sealing & strapping packaging tapes market.
This dominance of this segment is attributed to its properties such as high abrasion, impact-resistant, water-resistant, and high flexibility. These properties have led to rising preference for polypropylene, which is used in the production of sealing & strapping packaging tapes. The paper segment is anticipated to be the second-largest segment, due to several properties such as flexibility, transparency, light-weight, and a good barrier to oxygen and water.
Intertape Polymer Group is one of the global manufacturers of several paper- and film-based and complementary packaging systems. Strong global presence and specialization in the production of sealing & strapping packaging tapes confirmed its leading position in the market. The company has a strong geographical reach, for instance, it activates in 17 locations worldwide, having 11 manufacturing sites in North America, Europe, and in some countries of the Asia Pacific.
Geographically, Asia Pacific region is estimated to witness the fastest growth in the sealing & strapping packaging tapes market, in terms of growth.
This high growth of the market is attributed to the booming packaging industry in emerging economies such as China, India, Vietnam, Japan, and Taiwan in the Asia Pacific region. As well, these countries are the largest exporters of packaging materials globally. Low-cost labor and availability of domestically produced raw materials have further contributed towards the growth of the sealing & strapping packaging tapes market in this region. Also, sealing & strapping packaging tapes market in North America is projected to register moderate growth rate over the long run, followed by sealing & strapping packaging tapes market in Europe.
Report will helps to decision maker as forecasts about the market are formed based on a detailed analysis of factors such as drivers, restraints, popular trends of past and present times, regulatory scenario, recent improvements in terms of technology and products, level of competition in sealing & strapping packaging tapes market.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global Sealing & Strapping Packaging Tapes market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global Sealing & Strapping Packaging Tapes market.
Scope of Global Sealing & Strapping Packaging Tapes Market
Global Sealing & Strapping Packaging Tapes Market, By Material
• Polyvinyl Chloride
• Others (Reinforced Fiberglass and polyethylene films)
Global Sealing & Strapping Packaging Tapes Market, By Type of Adhesive
• Others (EVA and Butyl)
Global Sealing & Strapping Packaging Tapes Market, By Application
• Carton sealing tapes
• Strapping & bundling
Global Sealing & Strapping Packaging Tapes Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in Global Sealing & Strapping Packaging Tapes Market
• Avery Dennison Corporation (US)
• 3M Company (US)
• Nitto Denko Corporation (Japan)
• Intertape Polymer Group (Canada)
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