Enjoy complimentary customisation on priority with our Enterprise License!
The correction tapes market is poised to grow by USD 85.69 million surging at a CAGR of 12.74% between 2022 and 2027. Additionally, the market is fragmented in nature and shows a YOY growth of 11.85%. The report covers diverse dimensions such as the market size of forecast and historic data, influential drivers, analysis of prominent vendors, and evolving trends, presenting a comprehensive outlook on the global market scenario.
Increasing product demand among students is a key factor driving the market growth. The comprehensive report on the correction tapes market offers crucial insights into the industry's changing dynamics, helping businesses to identify growth opportunities in the constantly evolving digital retail landscape.
The market is Segmented as
1. End-user- The end-user segment is fragmented into education, home, and office categories.
2. Distribution channel- The distribution channel segment is classified into offline and online categories.
Correction Tapes Market market size, Request for Free Report Sample
Increasing product demand among students is a key factor propelling the correction tapes market growth.
The demand for correction tapes in educational institutions is rising alongside global increases in literacy rates. Students shifting from pencils to pens contribute to this demand, expanding the use of correction tapes beyond administrative departments to include elementary schoolers. Market vendors, such as PLUS Corp and 3M, are responding with customized products like the MR2 handheld correction tape dispenser. This market is poised for growth due to rising literacy rates, increased student enrollment, and the early transition from pencils to pens, making correction tapes a key focus in the forecasted market expansion.
The primary trend in the global correction tapes market is the emergence of ergonomic designs.
Some market vendors are actively pursuing innovative strategies to create products that appeal to diverse customer segments. The introduction of ergonomic correction tapes has enhanced the growth opportunities for existing vendors, focusing on improved ease of use.
For instance, PLUS Corp's CORRECTION TAPE FX boasts a flexible head for precise correction lines, offering a multi-angle flexible head, 2-way correction, and enhanced grip and stability. Similarly, BIC's correction tapes, such as Tipp-Ex Pocket Mouse, Tipp-Ex Speedy, and DeleteO, feature rubber grips for improved handling and user-friendly shapes. This innovation is expected to drive increased usage of correction tapes, contributing to market growth in the forecast period.
Education and Home Segment: The education and home segment is estimated to witness significant growth during the forecast period. Instead of using correction fluid, everyone can use correction tapes to cover the incorrect area. For correcting mistakes in handwriting or, in some cases, typing, corrections are used. One side of the tape is placed up against the area to be covered. It is covered with a white, opaque masking material.
The educational and home segment was the largest segment and was valued at USD 62.75 million in 2017. Correction tape which is unlike most correction fluids, cannot be abused as an inhalant. Correction tape is a practical tool that works well for handwritten documents in schools, at home, and for educational purposes as it allows one to make corrections quickly. These functional benefits of correction tapes would be utilized for educational purposes in making handwritten notes which in turn would drive the demand for correction tapes during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 41% to the growth of the global market during the forecast period.Product innovation, new developments, and technological advancements are the driving forces behind the region's market. In North America, the expansion of the service sector and growing environmental concerns related to paper waste contribute to increased demand for stationery supplies. Additionally, the correction tapes market in the Americas is influenced by the expanding education industry and rising student enrollment, as projected by the US Department of Education for K-12 institutions. These factors are expected to boost the sales of correction tapes and accelerate market growth in the region throughout the forecast period.
3M Co.: The company offers a wide range of correction tapes available with different lengths and widths under the brand Scotch.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
The main challenge facing the global correction tapes market is the growing shift to digital platforms in offices.
This trend is part of a broader challenge in the office stationery market due to increased digitization of work environments, diminishing demand for traditional supplies like paper and fax materials. Advances in technology, particularly the use of digital gadgets for communication and data management, have reduced the need for office stationery products. The efficiency of digital tools, such as Microsoft Office software, is contributing to this shift, enabling seamless communication, file sharing, and collaborative planning. Overall, the increasing reliance on digital gadgets is reshaping office practices and impacting the demand for conventional stationery.
The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth. For details analysis BUY FULL REPORT.
Correction Tapes Market Scope |
|
Report Coverage |
Details |
Page number |
158 |
Base year |
2022 |
Historic period |
2018 - 2022 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 12.74% |
Market growth 2023-2027 |
USD 85.69 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
11.85 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 41% |
Key countries |
US, China, UK, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
3M Co., ACCO Brands Corp., FUJICOPIAN Co. Ltd., Fullmark Pte Ltd., KOKUYO Co. Ltd., Lyreco SAS, Newell Brands Inc., Ningbo Snowman Commodity CO. LTD., Oddy Atul Paper Pvt. Ltd., Pentel of America Ltd., PLUS Corp., Ryman Ltd., SDI Group, SEED Co. Ltd., Shantou Changli Stationery Industry Co. Ltd., SOCIETE BIC, Soni Polymers Pvt. Ltd., Staples Inc., Tombow Pencil Co. Ltd., and Transform SR Holding Management LLC |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.