Fiber-reinforced Tapes Capture over 90% Market Share
Influenced by their excellent tear and abrasion resistance as well as better shelf life, fiber-reinforced tapes continue to define stakeholders’ bottom lines. As fiber-reinforced tapes account for over 90% share of market revenue, manufacturers are heavily focused on the backing material. By 2020, the sales of fiber-based packaging tapes will cross the US$ 1 Bn mark. However, they are likely to lose a slight share to paper gummed tapes due to manufacturing complexities as well as raw material expensiveness.
Opportunities Revolving Around Asian Markets
In the present scenario, North America and Europe are the epicenter of the global gummed tapes market growth. These developed regions reflect worthwhile sales opportunities, owing to the presence of industry giants and leading technology pioneers.
However, rapid emergence of verticals such as e-Commerce and electronics & electrical, in Asian countries – China, and India – is influencing manufacturers to realign their tactics. Cheaper availability of raw materials, strong presence of local vendors, and increasing cross-border trades are further boosting the market attractiveness in these developing economies.
Presence of Alternative Materials – A Potential Threat to Market Growth
Amidst the growing demand for packaging solutions that are environmentally sustainable, the global gummed tapes market – while flourishing – is facing the challenge of presence of alternative materials such as BOPP packaging tapes and heat-activated tapes. Paper gummed tapes are considered ideal for lightweight packaging, yet, can be replaced by relatively inexpensive pressure-sensitive tapes. However, as these alternatives lag behind in terms of mechanical properties, the overall gummed tapes market is poised to witness healthy growth in the coming years.
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How Growth will Unfold
Manufacturers of gummed tapes would continue to reap maximum returns from the shipping & logistics industry throughout the period of projection. Accounting for nearly one-fifth of global adoption, the prominence of gummed tapes in this end-use category is fueled by rising demand for tamper-evident packaging formats during transportation. While the use of gummed tapes in the general industries and food & beverage sector are also attracting huge investments from manufacturers, their application is likely to gain a boost in the metalworking industry.
FREQUENTLY ASKED QUESTIONS ABOUT GLOBAL GUMMED TAPES MARKET
What is the current and future market status of gummed tapes?
The global gummed tapes market is projected to witness significant growth in the foreseeable future, owing to their numerous applications in key end-use industries, and is expected to expand 1.8X its current market value by the end of 2029.
Why are gummed tapes gaining traction?
Gummed tapes are manufactured from natural adhesives such as paper and potato starch, which increases adhesive bonding when activated by water. The backing material used for making gummed tapes - reinforced fiber - offers tear-resistance, which makes them tamper-proof. Additionally, gummed tapes are sustainable for cold and hot environmental conditions.
Which end-use industries hold potential growth opportunities for manufacturers?
The demand for gummed tapes is consistently increasing from shipping and logistics industries, as these tapes offer high adhesive strength for corrugated box packaging and damage-free transportation of products. As per FMI analysis, shipping and logistics industries account for a majority of the market share in 2019, and are expected to maintain their dominance by the end of 2029. Building & construction, electrical & electronics, and automotive industries are also expected to offer substantial prospects for players in the gummed tapes market.
What are the factors driving the growth of the gummed tapes market?
Rising demand for corrugated packaging in the logistics and shipping sector is boosting the sales of gummed tapes across different regions. As water-activated gummed tapes form mono-material and ensure tamper-evident packaging, their use for the sealing of corrugated boxes is expected to rapidly increase during the forecast period. Furthermore, rapid industrialization and cross-border trade boost the sales of global gummed tapes. Demand for eco-friendly and recyclable packaging solutions is another factor propelling growth of the gummed tapes market.
What is the degree of competition in the gummed tapes market?
The global gummed tapes market is dynamic in nature. 3M Company, Intertape Polymer Group Inc., and Shurtape Technologies, LLC are some of the leading manufacturers operating in the global gummed tapes market. Along with these players, Can-Do National Tape, Loytape Industries SDN.BHD., Neubronner GmbH & Co., and Ibergum, S.A. collectively hold 1/4 of the total revenue share.
Which region is estimated to lead in terms of consumption of gummed tapes in the global market?
In terms of sales and market growth rate, East and South Asia are the fastest growing regions in the global gummed tapes market. The gummed tapes market in East Asia is projected to register an impressive CAGR during the forecast period of 2019-2029.
GUMMED TAPE MARKET TAXONOMY
The global gummed tapes market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
- Paper Gummed Tape
- Fiber-reinforced Tape
- White Gummed Tapes
- Brown Gummed Tapes
- Starch Adhesives
- Other Adhesives
- Box & Carton Sealing
- Shipping & Logistics
- Building & Construction
- Food & Beverages
- Electrical & Electronics
- Healthcare & Hygiene
- Oil & Gas
- General Industries
- Consumer Goods
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa