Packing Tape Market Research, Segmentation, Key Players Analysis & Forecast 2022-2032

Press Release from Future Market Insights

The packing tape market is supposed to heighten at a CAGR of 4.8%, from USD 21.8 billion out of 2022 to USD 34.9 billion through 2032.

Owing to the lack of transportation and the scarcity of raw resources, expansion of the  packing tape market  has been hampered. Even for the E-Commerce sectors, transportation was not an option. The  packing tape market share  has also slowed as a result of this.

The  packing tape market  is expected to grow at a sluggish pace, with a CAGR of 2.3% from 2015 to 2021 rising to 4.8% during the forecast period. One of the key aspects that contribute to the  packing tape market statistics  is the rapid rise in economic growth in the purchasing of products from the E-Commerce platform.

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One of the primary factors driving the  growth of the packing tape market  is the use of packaging products in the food and beverage industry. In addition, the expansion of the vehicle industry stimulates  demand for packing tapes .

Furthermore, the fluctuation in the cost of raw materials for manufacturing during the pandemic is one of the key reasons impeding the  packing tape market analysis.  As the  packing tape business  continues to increase, people are beginning to think more about tapes. As a result, manufacturing companies must enhance their technological skills.

With the slow rise of the  packing industries  in recent days, the  demand for the packing tape  is consistent and steady. The  adoption of packing tapes  in food and beverage items, automotive industries, and E-Commerce industries has contributed to this recent growth.

In the following years, the Asia-Pacific  market for packing tape  is predicted to grow at the fastest rate. China and India are predicted to have the fastest market growth in the Asia-Pacific region.

Key Takeaways

  • The  market for packing tape  is expected to be valued at US$ 34.9 billion by 2032.
  • The  packing tape market  is predicted to develop at a CAGR of 4.8% due to creative designs and product innovations.
  • The  packing tape market  was valued at US$ 20.9 billion in 2021.
  • The Acrylic segment of the  packing tape market , which falls under the material type category, is expected to grow at a CAGR of 3.8% through 2032.

Competitive Landscape

Major key players in the  packing tape market  are Ethicon, Medtronic, Intuitive Surgical, Apollo Endosurgery, ReShape Life Sciences, contributing to the  packing tape market share.

To extend their influence in the  packing tape market trends , these vendors have used a variety of organic and inorganic growth tactics.

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Recent Developments:

  • In August of 2019, the kite packaging company released four new machine tapes, one of which is 48mm wide and the other is 75mm wide.
  • The new kite low noise solvent tape and vinyl tapes were introduced in 2019 by the kite packaging company. Due to the inexpensive cost of these types of containers, cassettes are readily available.
  • Monta released self-adhesive tapes made of natural rubber adhesive in February 2020.
  • Tesa SE bought FormFormForm Ltd. (UK), a maker of adhesive tapes and self-adhesive systems solutions, in May 2018. Tesa SE’s product portfolio, geographic reach, go-to-market channels, and sectors served were all strengthened as a result of this transaction.

Key Players

  • 3M
  • Avery Dennison
  • Nitto Denko
  • Henkel
  • Tesa
  • Advance Tapes International
  • Adhesive Research
  • Bostik
  • Dow Corning
  • Evans

How COVID-19 Impacts The Packing Tape Market?

There are several significant changes that will occur as a result of the COVID-19 pandemic spread in the year 2020. The pandemic’s propagation has had a significant influence on several industries. The pandemic’s emergence has had an effect on the growth of the packing tapes market share.

Owing to the lack of transportation and the scarcity of raw resources, expansion of the packing tape market has been hampered. Even for the E-Commerce sectors, transportation was not an option.

The packing tape market share has also slowed as a result of this. The packing tape market is expected to grow at a sluggish pace, with a CAGR of 2.3 percent from 2015 to 2021, rising to 4.8 percent during the forecast period.

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Key segments

By Type:

  • Filament Tapes
  • Double-Sided Tapes
  • Parcel Tapes
  • Light-Duty Packaging Tapes
  • Others

By Material Type:

  • Acrylic
  • Hot Melts
  • Others

By Application:

  • Food & Beverages
  • Chemical
  • Consumer Goods
  • Others

By Region:

  • North America
  • Latin America
  • Asia Pacific
  • Middle East & Africa
  • Europe

About Us

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.


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