The rise of the e-commerce sector is proliferating packaging tape

NEWARK, Del, June 02, 2022 (GLOBE NEWSWIRE) — The packaging tape market is expected to grow at a CAGR of 4.8%, from USD 21.8 billion in 2022 to USD 34.9 billion through 2032 Due to lack of transportation and scarcity of raw resources, the expansion of packaging tape market has been hampered. Even for e-commerce sectors, transportation was not an option. The packaging tape market share also slowed as a result.

The packaging tape market is expected to grow at a slow rate, with a CAGR of 2.3% from 2015 to 2021 increasing to 4.8% during the forecast period. One of the key aspects contributing to the Packaging Tape market statistics is the rapid growth in economic growth in purchasing e-commerce platform products.

One of the major growth drivers for the packaging tape market is the use of packaging products in the food and beverage industry. Additionally, the expansion of the automotive industry is driving the demand for packaging tapes.

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In addition, the fluctuation in the cost of raw materials for manufacturing during the pandemic is one of the major reasons hampering the packaging tapes market analysis. As the packaging tape business continues to grow, people are starting to think more about tapes. Therefore, manufacturing companies need to improve their technological skills.

With the slow rise of packaging industries in recent days, the demand for packaging tape is constant and stable. The adoption of packaging tapes in the food and beverage, automotive and e-commerce industries has contributed to this recent growth.

In the coming years, the Asia-Pacific packaging tape market is expected to grow at the fastest rate. China and India are expected to witness the fastest market growth in the Asia-Pacific region.

Key points to remember

  1. The packaging tape market is expected to be valued at US$34.9 billion by 2032.
  2. The packaging tape market is expected to grow at a CAGR of 4.8% owing to creative designs and product innovations.
  3. The packaging tape market was valued at US$20.9 billion in 2021.
  4. The acrylic segment of the packaging tape market, which falls under the category of material type, is expected to grow at a CAGR of 3.8% through 2032.

Competitive landscape

The major key players in the packaging tape market are Ethicon, Medtronic, Intuitive Surgical, Apollo Endosurgery, ReShape Life Sciences which are contributing the packaging tape market share.
To expand their influence over the packaging tape market trends, these vendors have utilized a variety of organic and inorganic growth tactics.

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RECENT DEVELOPMENTS:

1. In August 2019, the kite packing company launched four new machine bands, one of which is 48mm wide and the other is 75mm wide.

2. The new low noise kite remover strip and vinyl strips were introduced in 2019 by the kite wrapping company. Due to the low cost of these types of containers, cassettes are readily available.

3. Monta launched natural rubber adhesive tapes in February 2020.

4. Tesa SE bought FormFormForm Ltd. (UK), a manufacturer of adhesive tapes and self-adhesive system solutions, in May 2018. Tesa SE’s product portfolio, geographic reach, go-to-market channels and sectors served have all been strengthened as the result of this transaction.

Contents

1. Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply-side trends
1.4. Analysis of the technology roadmap
1.5. Analysis and recommendations

2. Market overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limits

3. Market context
3.1. Market dynamics
3.1.1. Drivers
3.1.2. Constraints
3.1.3. Opportunity
3.1.4. Tendencies
3.2. Scenario forecast
3.2.1. Demand in the optimistic scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in the conservative scenario
3.3. Opportunity Map Analysis
3.4. Supply chain analysis
3.5. Value chain analysis
3.5.1. Profit Margin Analysis
3.5.2. Wholesalers and distributors
3.5.3. Retailers
3.6. PESTLE and Porter’s analysis

4. Global packaging tape market analysis 2017-2021 and forecast, 2022-2032
4.1. Historical Market Size (Million US$) and Volume (Units) Value Analysis, 2017-2021
4.2. Current and Future Value Projections of Market Size (Million US$) and Volume (Units), 2022-2032
4.2.1. Analysis of annual growth trends
4.2.2. Analysis of opportunities in absolute dollars

5. Global Packaging Tape Market Analysis 2017-2021 and Forecast 2022-2032, By Tape Type
5.1. Introduction / Main results
5.2. Historical Market Size (Million US$) and Volume (Units) Value Analysis by Tape Type, 2017-2021

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Key sectors

By type:

  • Filament tapes
  • Double-sided tapes
  • Parcel tapes
  • Lightweight Packing Tapes
  • Others

By type of material:

Per application:

  • Food and drinks
  • Chemical
  • Consumer goods
  • Others

By region:

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

Explore the breadth of IMF In progress Cover on Packaging

Cohesive Packaging Market Size: Global cohesive packaging sales were valued at around US$1.5 billion at the end of 2022. The global cohesive packaging market is expected to register a CAGR of 6.6% between 2022 and 2032 and exceed a valuation of US$2.8 billion in 2032.

Cryo Boxes Market Share: The global Cryo Boxes market is expected to grow at a CAGR of 7.3% between 2022 and 2032. The market value is expected to grow from US$326.2 million in 2022 to US$657.3 million Americans by 2032.

Food Packaging Market Trends: The global food packaging market was valued at approximately US$319 billion in 2021, registering an annual growth of 4.8%.

Biodegradable Films Market Analysis: The global biodegradable films market is expected to grow at a CAGR of 5.6%. The market value is expected to grow from US$1,040.1 million in 2022 to US$1.7 billion by 2032.

Wrapping Paper Market Forecast: The wrapping paper market is expected to have an effective CAGR of 4.8% during the period 2022-2032.

Wine Packaging Market: The global wine packaging market is expected to grow at a CAGR of 5.4% during the forecast period (2022-2032). The market value is expected to increase from US$3.4 billion in 2022 to US$5.7 billion by 2032.

Hamburger Box Market: The hamburger box market is expected to grow with an estimated CAGR of 5.7% from 2022 to 2032. The hamburger box market share was worth US$3.5 billion in 2022.

Corrugated Box Market: The corrugated box market is expected to have an effective CAGR of 5.0% during the period 2022-2032.

Packaging Tape Market Application: The packaging tape market is expected to have a significant CAGR of 4.8% during the period 2022-2032. According to the IMF, the packaging tape market will grow from US$21.8 billion in 2022 to US$34.9 billion in 2032.

Metal Packaging Market Outlook: Global demand for metal packaging stood at approximately US$121 billion in 2021 and is expected to increase with a compound annual growth rate (CAGR) of 3.6% to reach a valuation US$178 billion by 2032.

About Future Market Insights (IMF)

Future Market Insights (ESOMAR certified market research organization and member of the Greater New York Chamber of Commerce) provides in-depth insights into the driving factors that increase demand in the market. It reveals opportunities that will drive 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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