The global washi tapes market is currently valued at US$15.7Billion in 2023 and is anticipated to expand at a CAGR of 4.5%. Owing to the advances in packaging the market is likely to propel to US$ 24.3 Billion by 2033.
The main factor supporting the washi tapes market growth are –
Increasing spending in developing regions
the growing number of packaging facilities to meet the needs of expanding urban populations
Growing advancement in the packaging industry
Washi tape is available in different widths, textures, colors, and patterns. Washi tape is just like masking tape flexible and durable. And can be easily and safely applied to any surface without leaving any sticky residue behind. Any tape made from paper is a washi tape. Washi tapes are best for brightening any space and creating beautiful crafts. These tapes can be used in many things such as scrapbooking, interior design, gift wrapping, art projects, and many more.
The increasing growth of some industries increased the demand for fracture and construction activity to drive the demand for washi tapes. Washi tapes are pressure-sensitive tapes that can be used in home décor for decorating window blinds, and walls.
The demand in the construction industry has witnessed extensive sales of washi tapes in the past few years and is more likely to follow the same trend in the coming years.
The utilization of washi tapes in packaging is also a major factor to drive the business. The consumption of washi tapes in these industries has observed noteworthy sales in historical years and is expected to follow the same trajectory.
In addition, apart from traditional applications in packaging, the construction industry’s adoption of washi tapes is growing in automobiles for paintings, dent repairs, and in a few other activities in manufacturing and repair.
Washi tapes are highly preferred in food and beverage industry especially in packaging the coagulated boxes and other paper boxes to improve the look of the product with an aesthetic appearance.
Asia Pacific is one of the most prominent regions for washi tape business, the region accounts for more than 40.2% of global sales in 2023 and projecting a CAGR of 4.1% in the same time frame. Japan is the largest shareholder in the business as these tapes are originally from japan. Also, the rapidly growing automotive industry in countries like China, and India boosts market sales during the forecast period. Also, the growing population in ASEAN countries boosts the market growth.
Amid covid-19 pandemic, slight decline in growth of the global washi tapes market was observed on account of the disruption of the supply chain created a scarcity of raw materials, product availability, and other resources. The distribution of washi tapes is shifting from a traditional to an e-commerce medium. Sales via online platforms continue to rise.
FMI research indicates that washi tapes packaging shows great potential for not only durability but improving outcomes for buyers in different areas as washi tapes offers benefits like:
Cost effective
Fully customizable
High color accuracy
Eco-friendly
To meet all these objectives, the manufacturer of washi tapes offers a wide selection of sizes, shapes, and materials with easy-to-handle formats to bring out the best in packaging. Also, the manufacturer of washi tape packaging has increased R&D to address technological innovations and to provide customized and sustainable packaging solutions. Key player in the washi tapes market includes Gundo gami, Awa washi, Ecchu washi, Echizen washi, and Ise washi.
The market players are focusing on strategic collaboration, partnership, and new product launches to increase their market share. Also, the manufacturer of washi tapes increasing their production capacity to meet the increasing demand for washi tapes.
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Washi Tapes Market Overview
The term "washi" comes from wa means 'Japanese' and shi means 'paper'. Any tape which is made from paper may come under washi tapes. They are characterised in pretty, decorative paper masking tape.
The term is used to describe paper that uses local fiber, made by hand and in the traditional process. The Washi Tape Market has witnessed magnifying development over the past few years and is continued to grow tremendously over the forecast period.
The rise in growth of some industries leading to the demand for infrastructural development and construction sectors with additional business solutions has indirectly profited the washi tapes market.
Washi tapes are pressure-sensitive tapes which are basically utilized while painting in construction-related activities. Washi tapes are available in a range of strengths, widths and it is dependent on the strength of the adhesive property.
Washi Tapes Market: Market Dynamics
Due to the construction trends in spread globally, the building and construction sector shows a substantial demand for washi tapes for painting. Though ordinary household tapes are the same on some level, the integrity of the former displays on the lower track.
To place construction outline to a drawing board, when removed later will not damage the drawing. Usually, the strength of washi tapes is decided based on the duration they are placed for.
Painting activities typically require washi tapes that are placed for 7 to 14 days. On the other hand, washi tapes that are used for many days but have less adhesive property. They are suitable for smooth surfaces similar to newly painted walls or wallpapers.
Automotive industry growth is also taking the foremost role in the demand for washi tapes. More features of washi tapes are employed during dent repairs, painting and few other activities in automobile manufactures and repairs.
On the contrary, slow economic growth since the last decade, particularly in parts of Latin America has impacted negatively on the washi tapes market.
The most affected recession centre is Latin America especially Argentina and Brazil which has top automotive manufacturers in the region, and hence it is a key end-user of washi tapes.
Like any other product market, washi tapes market is also impacted badly due to the COVID-19 impact. On the production, supplier chain, sales, at every point market has collapsed up to a certain extent.
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Washi Tapes Market: Regional Outlook
Geographically, Asian countries especially Japan has acquired a large share of the market, as washi tapes are originated in Japan. Due to the huge electronic and automobile industry washi tapes has spread all over the Asian countries such as India and China. In the forecasted period, due to the increase in population countries like India and China will have a high market share.
The major demand of washi tape market is driving by global urbanization and industrialization of the developing countries. Latin America is having top automotive manufacturers which creates high opportunities for washi tapes market.
The rapid expansion seen in the construction industry in terms of market growth and share, showing large growth in washi tapes market. European countries are expected to follow the East Asian region in terms of market growth.
Shifting inclination towards sustainable solutions and improvisation in North America is also contributing the washi tapes market growth. On the contrary, in the Middle East and African countries, comparatively no bigger opportunities are expected in the forecasted period.
Washi Tapes Market: Key Players
Gundo gami
Awa washi
Ecchu washi
Echizen washi
Ise washi
Mino washi
Sekisy washi
Sugihara gami
Tosa washi
Yame washi
Uchiyama gami
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Regional Analysis Includes
North America
Latin America
Europe
Middle East & Africa (MEA)
South Asia
East Asia
Oceania
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