According to Future Market Insights research, during the projected period, the global packaging tapes market is set to enjoy a market valuation of US$ 71.7 Billion in 2021, and register a CAGR of 4.8% % to reach US$ 120.1 Billion by 2032. The packaging tapes market revenues are estimated to propel with the top 3 countries projected to hold 30 to 35 % of the global packaging tapes market by the end of 2022.
The plastic packaging tape market is segmented by material, tape type, and end-use. Based on the material segment, plastic material is projected to hold the major portion of the global packaging tapes market due to its benefits such as being a durable, waterproof designer, sustainable, recyclable, and cost-effective.
| Attributes | Details |
|---|---|
| Market Size 2022 | US$ 74.8 Billion |
| Market Size 2032 | US$ 120.1 Billion |
| Value CAGR (2022 to 2032) | 4.8% |
| Collective Value Share: Top 3 Countries (2022E) | 30 to 35% |
The global packaging tapes market has reached 71.7 Billion for the year 2021, according to FMI analysis. The demand for packaging tapes is estimated to bolster with the top 5 companies estimated to hold approximately 30 to 35% of the global packaging tapes market by 2022.
The packaging tapes market is projected to witness a rising growth outlook during the forecast period. A new forecast by FMI anticipates that rigid packaging tape market revenue will rise from 2022 to 2032 and is anticipated to offer a growth opportunity of US$ 45.3 Billion.
The shipping and logistics industry is anticipated to grow rapidly due to rising population, changes in lifestyle, and rapid urbanization. Packaging tapes are widely used in the shipping industry. The packaging tapes are reusable and cost-effective. The packaging tapes market is projected to expand 1.7 times the current value from 2022 to 2032.
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The global packaging tapes market expanded at a CAGR of 4.8 % during the historic period and reached US$ 71.7 Billion in 2021 from US$ 58.6 Billion in 2015.
The packaging tapes market is expanding due to higher demand from the shipping and logistics industry. It is used in wrapping the product during transportation. It is used by companies for branding purposes as well. The packaging tapes provide damage protection from external force. Based on the tape type segment, packaging tapes are segmented as pressure-sensitive tapes, masking tapes, and filament tapes. End-use industry manufacturers prefer packaging tapes over others, owing to their high flexibility and ease of applicability. These packaging tapes are the ideal choice for packing and sealing heavier and overfilled cartons, which brought about a significant change in the way goods are packaged and shipped.
The packaging tapes market is expected to create lucrative revenue-generating opportunities from 2022 to 2032, attributed to increasing consumer preference for packaging tapes in various end-use industries.
The demand for packaging tapes is increasing rapidly as they can be used in automotive, building & construction, health care, shipping and logistics, and various industry. The rising adoption of packaging tapes for light and heavy-duty applications across the globe is supporting the packaging tapes market growth. Packaging tapes have emerged as the most economical and efficient solution for indoor applications and outdoor applications. These packaging tapes are capable of sustaining in outdoor applications, especially in the construction and logistics industries which makes packaging tapes popular among industry players. The packaging tapes are used for safeguarding dressings, catheters, tubing, and other medical purposes. These tapes are used in medicine and first aid to hold a bandage or other bandage onto a wound.
In packaging tapes, paper tapes are widely used in the health care industry. It is easy to use as compared with different methods of covering wounds. These tapes are usually chemical free which suits the nature of the sensitive healthcare industry. There are various types of specific medical tapes on the market but medical paper tapes are growing rapidly, as these tapes are hypo-allergenic and made by using latex-free material which is very gentle for the skin, these tapes are especially used in elderly patients to prevent destruction in skin layers. These factors are creating a lucrative demand for the packaging tapes market.
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Based on the material segment, plastic material is anticipated to hold around 45% of the market value share during the forecast period. It is expected to grow at a 5.5% CAGR from 2022 to 2032.
Plastic material offers various valuable features such as water-resistant properties, cost-effectiveness, and moisture resistance. Plastic material is used significantly in the packaging industry. In the automotive and electrical industries, plastic material is widely used electrical & electronics industry due to it provides flexibility, heat resistance, and protection against any climatic change.
The shipping and logistics industry has driven significantly the packaging tapes market. It is projected to grow 1.8X during the forecast period.
Packaging tapes have an everlasting adhesive that works in both hot and cold temperatures and works finest when cartons are sealed for transferring goods from one place to another or storing them in a warehouse. Shipping tape manufacturers use a hot melt adhesive that makes it more durable over a short time. Packaging large cartons with utmost safety to deliver globally, with speed, to cover the loss from being damaged, packaging tapes have a great opportunity to grow in the shipping and logistic segment. These factors will create higher demand for packaging tapes.
The packaging tapes market is expected to grow at 6.0% CAGR from 2022 to 2032. The Paper industry is expected to expand rapidly in India. It drives higher demand for the packaging tapes market.
According to the Indian Paper Manufacturers Association, the Indian paper industry contributes around 5% of global paper production. Per capita, paper consumption in India is around 15kg. These factors have propelled the demand for the packaging tapes market over the period. These factors will create a positive growth environment for the packaging tapes market.
China’s packaging tapes market is projected to grow at a CAGR of 5.6% from 2022 to 2032. China is estimated to hold the higher market portion of the East Asia packaging tapes market and is projected to create an incremental opportunity of US$ 10.7 Billion from 2022 to 2032.
China has a large-scale production capacity. China has cheap labor costs, availability of raw materials, and advanced technology in the designing process. The E-commerce industry is increasing significantly in China. These factors are responsible for the lucrative demand for packaging tapes in China.
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The competitors operating in the packaging tapes market are trying to increase their sales and revenues by expanding their business to meet the market demand. The key players are trying to adopt a merger & acquisition strategy to expand their resources and develop new products to meet customer needs. Also, the players are focusing on advancing their facilities to cater to the demand. Some of the recent key developments in the market by the leading players are as follows –
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.8 % from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Sq. Meter and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Material, Tape Type, End-users, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Middle East and Africa; Oceania |
| Key Countries Covered | USA, Canada, Mexico, Brazil, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, India, GCC countries, Australia |
| Key Companies Profiled | Nitto Denko Corporation; Berry Global Group Inc.; Saint Gobain Corporate; Sonoco Products Company; Intertape Polymer Group Inc.; Shurtape Technologies, Llc; PPM Industries SpA; Pro Tapes & Specialities Inc.; Kruse Adhesive Tape, Inc.; ADH Tape; Tesa SE Group; Atlas Tapes S.A; Sicad S.p.A.; 3M; H.B Fuller company; Avery Dennison Corporation; Bostik SA; Lord corporation |
| Customization & Pricing | Available upon Request |
The market is likely to register a CAGR of 4.8% through 2032.
The market is currently valued at US$ 21.35 Billion in 2022.
The market is likely to grow to a valuation of US$ 34.12 Billion by 2032.
Asia Pacific is likely to be a leading market during the forecast period.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Material 6.2. Tape Type 6.3. End Use 7. Global Market Analysis and Forecast, By Material 7.1. Paper 7.2. Plastic 7.3. Metal Foil 8. Global Market Analysis and Forecast, By Tape Type 8.1. Pressure-Sensitive Tape 8.2. Masking Tape 8.3. Duct Tape 8.4. Filament Tape 8.5. Other Packaging Tapes 9. Global Market Analysis and Forecast, By End Use 9.1. Automotive 9.2. Electric and Electronics 9.3. Building and Construction 9.4. Healthcare 9.5. Aerospace 9.6. Defense/Military 9.7. Shipping & Logistics 9.8. Other Consumer Durables 10. Global Market Analysis and Forecast, By Region 10.1. North America 10.2. Latin America 10.3. Europe 10.4. South Asia 10.5. East Asia 10.6. Middle East & Africa 10.7. Oceania 11. North America Sales Analysis and Forecast, by Key Segments and Countries 12. Latin America Sales Analysis and Forecast, by Key Segments and Countries 13. Europe Sales Analysis and Forecast, by Key Segments and Countries 14. South Asia Sales Analysis and Forecast, by Key Segments and Countries 15. East Asia Sales Analysis and Forecast, by Key Segments and Countries 16. Middle East & Africa Sales Analysis and Forecast, by Key Segments and Countries 17. Oceania Sales Analysis and Forecast, by Key Segments and Countries 18. Sales Forecast by Material, Tape Type, and End Use for 30 Countries 19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 20. Company Profile 20.1. Nitto Denko Corporation 20.2. Berry Global Group Inc. 20.3. Saint Gobain Corporate 20.4. Sonoco Products Company 20.5. Intertape Polymer Group Inc. 20.6. Shurtape Technologies, Llc 20.7. PPM Industries SpA 20.8. Pro Tapes & Specialities Inc. 20.9. Kruse Adhesive Tape, Inc. 20.10. ADH Tape 20.11. Tesa SE Group 20.12. Atlas Tapes S.A 20.13. Sicad S.p.A. 20.14. 3M 20.15. H.B Fuller Company 20.16. Avery Dennison Corporation 20.17. Bostik SA 20.18. Lord Corporation
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