Packaging Tapes Market Overview

Packaging Tapes are crucial for effective packaging of materials such as carton sealing, etc. The packaging tapes market has been witnessing an impressive growth over the past few years, with the increase in the demand for corrugated box packaging which is supported by a robust, export-oriented economy and rapidly developing consumer product markets. Moreover, advancements in the associated technologies with the packaging and sealing process escalate the market in the global platform.

Acknowledging the traction that the market is witnessing currently, Market Research Future (MRFR) in its recently published study analysis asserts that the global packaging tapes market is forecasted to witness significant growth by 2021, registering a staggering CAGR during the anticipated period (2016 – 2021).

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Major Players

Key players leading the global packaging tapes market include H.B. Fuller Company, 3M, Avery Dennison Corporation, Nitto Denko Corporation, Henkel AG & Co. KGaA, Advance Tapes International, Bostik SA, Dow Corning Corporation, Adhesives Research Inc., Evans Adhesive Corporation, Ltd., Intertape Polymer Group and Lord Corporation, and Franklin International among others.

Industry/Innovation/Related News

May 20, 2019 ---- Sonoco Products Company (the US), an international provider of diversified consumer packaging material announced the signing of a definitive agreement to acquire Corenso Holdings America, Inc. (the US), a leading manufacturer of high-performance cores used in the paper, packaging films, tape, and uncoated recycled paperboard (URB) across the specialty industries.

The transaction s expected to close in the third quarter of 2019, subjecting to normal regulatory review. The acquisition would provide Sonoco with attractive core converting assets and long-term partnerships with customers as well as create a long-term opportunity for Sonoco with its best-in-class uncoated recycled paperboard mill that is capable of producing a variety of core board grades.

Global Packaging Tapes Market –Segmentations

For a better understanding, the report has been segmented into four key dynamics:

By Type : Filament Tapes, Double-sided Tapes, Parcel Tapes, and Light-duty Packaging Tapes among others.

By Material : Acrylic and Hot Melt among others.

By Application : Food & Beverages, Chemicals, and Consumer Goods among others.

By Regions : North America, Asia Pacific, Europe, and the Rest-of-the-World.

Global Packaging Tapes Market – Regional Analysis

The Asia Pacific region heading with the burgeoning eCommerce industry would retain its dominance over the global packaging tapes market throughout the forecast period. Factors such as the increasingly lucrative opportunities in the packaging industry and the huge exports of fruits and vegetables, especially from China and India are fostering the growth of the regional market.

Moreover, online food ordering business is taking its roots rapidly, especially in India, which in turn, substantiates the growth in the packaging tapes market, creating a vast demand for sealing tapes for food packaging.

The packaging tapes market in the North American region accounts for the second-largest market, globally. Stringent government regulations for packaging of edible items and the growing demand for quality packaging with tamper-proof packaging are driving the growth of the regional market. Moreover, the higher disposable income is fostering the market growth in the region, driving significant demand for efficient packaging for food & beverages.

The Europe packaging tapes market is emerging as a profitable market, globally. Changing lifestyles drive the growth of the regional market, increasing the demand for eCommerce and online food delivery market. Additionally, the demand for convenience packaging is allowing the packaging tapes market in the region to grow rapidly.

Global Packaging Tapes Market– Competitive Landscape

Highly competitive, the packaging tapes market appears to be fragmented characterized by the presence of several large and small-scale players. These players incorporate strategic initiatives such as collaboration, acquisition, partnership, expansion, and technology launch to gain a competitive advantage in the market.

Manufacturers of these tapes employ a continuous improvement strategy to analyze and update products, implementing improvements, and launching new technologies to suffice the changing needs of the consumer. These key players are investing heavily in research and development projects to develop state-of-the-art equipment, facilities, advanced technology, and processes.

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