June 02, 2022 11:30 ET | Source: Future Market Insights Global and Consulting Pvt. Ltd. Future Market Insights Global and Consulting Pvt. Ltd.
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NEWARK, Del, June 02, 2022 (GLOBE NEWSWIRE) -- The packing tape market is expected to escalate at a CAGR of 4.8%, from USD 21.8 billion in 2022 to USD 34.9 billion through 2032. Owing to the lack of transportation and the scarcity of raw resources, expansion of the packing tape market has been hampered. Even for the E-Commerce sectors, transportation was not an option. The packing tape market share has also slowed as a result of this.
The packing tape market is expected to grow at a sluggish pace, with a CAGR of 2.3% from 2015 to 2021 rising to 4.8% during the forecast period. One of the key aspects that contribute to the packing tape market statistics is the rapid rise in economic growth in the purchasing of products from the E-Commerce platform.
One of the primary factors driving the growth of the packing tape market is the use of packaging products in the food and beverage industry. In addition, the expansion of the vehicle industry stimulates demand for packing tapes.
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Furthermore, the fluctuation in the cost of raw materials for manufacturing during the pandemic is one of the key reasons impeding the packing tape market analysis. As the packing tape business continues to increase, people are beginning to think more about tapes. As a result, manufacturing companies must enhance their technological skills.
With the slow rise of the packing industries in recent days, the demand for the packing tape is consistent and steady. The adoption of packing tapes in food and beverage items, automotive industries, and E-Commerce industries has contributed to this recent growth.
In the following years, the Asia-Pacific market for packing tape is predicted to grow at the fastest rate. China and India are predicted to have the fastest market growth in the Asia-Pacific region.
Competitive Landscape Major key players in the packing tape market are Ethicon, Medtronic, Intuitive Surgical, Apollo Endosurgery, ReShape Life Sciences, contributing to the packing tape market share. To extend their influence in the packing tape market trends, these vendors have used a variety of organic and inorganic growth tactics.
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1. In August of 2019, the kite packaging company released four new machine tapes, one of which is 48mm wide and the other is 75mm wide. 2. The new kite low noise solvent tape and vinyl tapes were introduced in 2019 by the kite packaging company. Due to the inexpensive cost of these types of containers, cassettes are readily available. 3. Monta released self-adhesive tapes made of natural rubber adhesive in February 2020.
4. Tesa SE bought FormFormForm Ltd. (UK), a maker of adhesive tapes and self-adhesive systems solutions, in May 2018. Tesa SE's product portfolio, geographic reach, go-to-market channels, and sectors served were all strengthened as a result of this transaction. Table of Content
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations
2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations
3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in 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 Packing Tape Market Analysis 2017-2021 and Forecast, 2022-2032 4.1. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis, 2017-2021 4.2. Current and Future Market Size Value (US$ Mn) & Volume (Units) Projections, 2022-2032 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis
5. Global Packing Tape Market Analysis 2017-2021 and Forecast 2022-2032, By Tape Type 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Tape Type, 2017-2021
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Explore FMI’s Extensive Ongoing Coverage on Packaging
Cohesive Packaging Market Size: the global cohesive packaging sales were valued at around US$ 1.5 Bn at the end of 2022. The global cohesive packaging market is projected to register 6.6% CAGR between 2022 and 2032 and top a valuation of US$ 2.8 Bn by 2032.
Cryogenic Boxes Market Share: the global cryogenic boxes market is expected to grow at a CAGR of 7.3% between 2022 and 2032. The market value is projected to increase from US$ 326.2 Mn in 2022 to US$ 657.3 Mn by 2032.
Food Packaging Market Trends: The global food packaging market was valued at around US$ 319 Bn in 2021, registering Y-o-Y 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 projected to increase from US$ 1,040.1 Mn in 2022 to US$ 1.7 Bn by 2032.
Packing Paper Market Forecast: The packing paper market is anticipated to have an effective CAGR of 4.8% during the period of 2022-2032.
Wine Packaging Market: Global wine packaging market is expected to grow at a CAGR of 5.4% during the forecast period (2022-2032). The market value is projected to increase from US$ 3.4 Bn in 2022 to US$ 5.7 Bn by 2032.
Burger Boxes Market: The burger boxes market is likely to grow with an estimated CAGR of 5.7% from 2022 to 2032. The burger boxes market share was worth US$ 3.5 Bn in 2022.
Corrugated Box Market: The corrugated box market is anticipated to have an effective CAGR of 5.0% during the period of 2022-2032.
Packing Tape Market Application: The packing tape market is anticipated to have a significant CAGR of 4.8% during the period of 2022-2032. According to FMI, the packaging tape market will expand from US$ 21.8 billion in 2022 to US$ 34.9 billion in 2032.
Metal Packaging Market Outlook: The global demand of metal packaging stood at around US$ 121 Bn in 2021, and is slated to increase with compound annual growth rate (CAGR) of 3.6% to reach a valuation of US$ 178 Bn by 2032.
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