Packaging Tapes Market
The demand for packaging tapes is gaining traction on the backdrop of colossal growth from the packaging industry. Several types of industries use packaging tapes, and these tapes have to undergo extreme climate conditions during transportation. Vendors are pushed by the challenges of introducing innovative products such as UV resistance tapes and light weight tapes. Various advanced technologies and machinery are being used across the globe by manufacturers for tape and substrate processing to reduce the time taken by the products to reach the market. The latest packaging tapes offer good adhesion, absolute transparency, and high aging resistance and clean positioning. At extremely low temperatures acrylate-based pressure-sensitive adhesives provide easy labeling and use of ultra-violet acrylate adhesives delivers extraordinary aging resistance. Because of the growing need for product identification and easy marketing the packaging tape market is witnessing a demand for printed packaging tapes.
Availability of various innovative designs and materials in the packaging tapes market has sufficiently increased its application in several industries. Industries such as food and beverages, retail packaging, e-commerce, and automobile are putting packaging tapes to numerous uses. In the automotive industry, the demand for high-quality tapes such as filament tapes is anticipated to increase during the forecast period. Parcel tapes will contribute the largest share in the packaging tape market. These tapes are widely accepted in various verticals such as food and beverages, and automotive, etc. The most frequently used parcel tapes are translucent and brown primarily used for packaging of corrugated boxes and common sealing or enclosing.
Based on the type of tape, the packaging tape market is segmented into:
Light-duty packaging tapes
Based on the material used the packaging tape market is segmented into:
Based on the application the packaging tape market is segmented into:
Food & Beverages
In terms of geography, the packaging tape market has been divided into five key regions including North America, Latin America, Europe, Asia-Pacific and the Middle East & Africa.The packaging tape market is expected to register healthy CAGR during the forecast period. North America is anticipated to be the dominant market for packaging tape market followed by Asia Pacific and Europe. The increase in the purchasing power of customers in developing countries like India and China has increased the demand for different food products, beverages and retail products causing rapid growth in packaging tape market.