Overview of the global packaging tapes market

Technavio’s market research analyst predicts the global packaging tapes market to grow at a CAGR of more than 5% by 2020. Packaging tapes are used across several industries and have to undergo extreme weather conditions during transportation. These challenges have pushed vendors to introduce innovative products such as light-weight tapes and UV-resistant tapes. Manufacturers are using machinery and converters for tape and substrate processing as these technologies reduce the time taken by the products to reach the market. The new packaging tapes offer absolute transparency, high aging resistance, good adhesion, and clean positioning. The acrylate-based pressure-sensitive adhesives provide trouble-free labeling at exceptionally low temperatures, and ultra-violet acrylate adhesives enable high aging resistance. Additionally, the market is witnessing the demand for printed packaging tapes because of the growing need to differentiate products for easy identification and marketing purposes.

APAC will be the fastest-growing region in the market and is anticipated to grow at a CAGR of around 6% during the forecast period. The high purchasing power of people in countries like China and India has increased the demand for different retail and food products and beverages, resulting in the rapid growth of packaging tapes. China is the dominating nation in the packaging tapes market in APAC because of the large scale manufacturing activities in the country. The rising demand for packaged goods has propelled the use of carton sealing tapes in the region, which will drive the market’s growth in this region during the forecast period.

Competitive landscape and key vendors

This market is highly fragmented because of the presence of global vendors who compete in terms of product portfolio, differentiation, and pricing. These vendors are increasing their market share and outreach through inorganic growth strategies. Vendors are also working on technology and expanding production units to increase the production of packaging tapes to meet the increasing demand. The low investment required in the market allows vendors to enter the market easily.

Leading vendors in the market are -

• 3M
• Avery Dennison
• Henkel
• Nitto Denko
• Tesa

Other prominent vendors in the packaging tapes market include Advance Tapes International, Adhesives Research, Bostik, Dow Corning, Evans Adhesive, Franklin International, H.B. Fuller, Intertape Polymer Group, Lintec, Lohmann, LORD Corp., MACtac, Hexion, Nova Films and Foils, Powerband, Royal Adhesives & Sealants, RPM International, Scapa Group, and Shurtape Technologies.

Segmentation by type and analysis of packaging tapes market

• Parcel tapes
• Light-duty packaging tapes
• Filament tapes
• Security packaging tapes

Parcel tapes will occupy the largest share in the packaging tapes market and is likely to hold more than 42% of the overall market by 2020. These tapes have wide acceptance in packaging across several verticals including automotive and food and beverage. These are the medium-strength tapes used to package products in corrugated boxes. The most commonly used parcel tapes are brown or translucent and are primarily used for the packaging of corrugated boxes, and common enclosing or sealing. They are also called box tapes or packing tapes.

Segmentation by type of raw materials and analysis of the packaging tapes market

• Polypropylene (PP)
• Paper
• Polyvinyl chloride (PVC)

Polypropylene will have the highest market share during the forecast period and is anticipated to occupy more than 58% of the total market share. Much of this segment’s growth is because polypropylene is preferred over other resins such as high-density polyethylene and low-density polyethylene owing to its high barrier properties. Also, polypropylene is a low coat material and provides better flexibility and conformability because of its softness. With the growing applications of parcel tapes for sealing packages in shipments, the growth prospects for this segment will increase over the next few years.

 Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global packaging tapes market?
• What are the key market trends impacting the growth of the global packaging tapes market?
• What are the challenges to market growth?
• Who are the key vendors in the global packaging tapes market?
• What are the market opportunities and threats faced by the vendors in the global packaging tapes market?
• Trending factors influencing the market shares of APAC, Europe, North America, and ROW.
• What are the key outcomes of the five forces analysis of the global packaging tapes market?

Technavio also offers customization on reports based on specific client requirement.

Related reports:

• Global Adhesive Tapes Market 2016-2020
• Global Pressure-Sensitive Tapes Market 2015-2019
• Pressure-Sensitive Tapes Market in North America 2015-2019

Adhesive tapes easily stick to substances with the application of a little pressure, without the need for any other activator, heat, or solvent. The tapes are coated with adhesives, either on one side or both sides and are available in many variants like single-sided, double-sided, adhesive transfer, single-coated, double-coated, carton sealing, masking tapes. The increasing use of corrugated boxes will lead to the augmented adoption of sealing tapes and adhesives. 3M, Berry, and Avery Dennison are some of the prominent players identified in this market space.

The report, global packaging tapes market, is part of Technavio’s transportation and logistics research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as logistics, packaging, transportation and distribution, and warehouse and storage. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.