Sealing & Strapping Packaging Tapes Market Overview
The Sealing & Strapping Packaging Tapes Market research report presents a In-Depth overview of the current market situation and forecast till 2023. The market research study shares qualitative and quantitative information highlighting key market developments, challenges, competition industry analysis, industry demand, growth & forecast. The sealing & strapping packaging tapes market is projected to grow from USD 17.4 billion in 2018 to USD 22.1 billion by 2023, recording a CAGR of 4.89%. The rising demand for carton sealing tapes in the packaging industry, due to its wide range of applications including carton sealing, bundling, unitizing, pelletizing, and general packaging is projected to drive the demand for sealing & strapping packaging tapes. Furthermore, these tapes are economical alternatives to plastic and metal sealing & strapping tapes, which is further projected to boost its market growth.
Driver: Wide acceptance of packaging tapes due to ease of applicability
Restraint: Rise in raw material prices
Opportunity: Emerging economies in the Asia Pacific region
Sealing & Strapping Packaging Tapes Market Key Players
- Avery Dennison Corporation (US)
- 3M Company (US)
- Nitto Denko Corporation (Japan)
- Intertape Polymer Group (Canada)
- Tesa SE (Germany)
- Scapa Group plc (UK)
- Shrutapes (US)
- Nichiban (Japan)
- Mactac (US)
- Wuhan Huaxia Nanfeng Adhesive Tapes (China).
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The 3M Company (US) held a leading position in the global sealing & strapping packaging tapes market in 2018. The company has maintained its leadership position through its strong distribution networks across the Asia Pacific, the Middle East & Africa, Europe, and the Americas. The 3M Company is among the leading manufacturers of sealing & strapping packaging tapes for many of the markets it serves.
Intertape Polymer Group (Canada) is also among one of the global providers of innovative and sustainable packaging solutions for a better, safer, and healthier lifestyle. The company innovates and offers sealing & strapping packaging tapes solutions for various applications. It has adopted strategies such as acquisitions to gain a competitive advantage in the market.
Sealing & Strapping Packaging Tapes Market Segmentation
- Polyvinyl Chloride
The polypropylene segment is estimated to witness the fastest growth during the forecast period
The polypropylene segment is estimated to be the fastest-growing segment in the market during the forecast period. The sealing & strapping packaging tapes market is witnessing a high demand due to the various benefits of polypropylene in sealing & strapping packaging tapes, such as high abrasion, impact-resistant, water-resistant, and high flexibility.
By Type of Adhesive
- Carton Sealing Tapes
- Strapping & Building
- North America
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- South America
- Rest of South America
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The Asia Pacific region is projected to account for the largest share in the sealing & strapping packaging tapes market in 2023
The emerging economies such as China and India in the Asia Pacific region are projected to drive the sealing & strapping packaging tapes market. China is projected to account for the largest market share and dominate the Asia Pacific sealing & strapping packaging tapes market throughout 2023. In addition, factors such as strong government support, rapid economic development, availability of raw materials, and cheap labor cost are driving the demand for the packaging industry in the region. The growing use of these tapes in the packaging industry is projected to drive the demand for sealing & strapping packaging tapes in emerging countries of Asia Pacific.
Table of Contents:
- Executive Summary
- Scope/opportunities of the Sealing & Strapping Packaging Tapes Market Report
- Research Methodology
- Sealing & Strapping Packaging Tapes Market Landscape
- SWOT Analysis
- Market Sizing
- Sealing & Strapping Packaging Tapes Market Segmentation
- Customer Landscape
- Regional Landscape
- Business Decision Framework
- Drivers And Challenges
- Sealing & Strapping Packaging Tapes Market Key Trends
- Players Landscape
- Players Analysis
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