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Packaging Tapes Market

Market Insights on Packaging Tapes covering sales outlook, demand forecast & up-to-date key trends

Packaging Tapes Market by Material, Tape Type, End Use & Region - Forecast 2022 - 2032

Packaging Tapes Market Snapshot 2022 - 2032

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 Bn in 2021, and register a CAGR of 4.8% % to reach US$ 120.1 Bn by 2032. The packaging tapes market revenues are estimated to propel with the top 3 countries projected to hold 30-35 % of the global packaging tapes market by the end of 2022.

The plastic packaging tapes 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 durable, waterproof designer, sustainable, recyclable, cost-effectiveness.

Market Size 2022

US$ 74.8 Bn

Market Size 2032

US$ 120.1 Bn

Value CAGR (2022-2032)

4.8%

Collective Value Share: Top 3 Countries (2022E)

30-35%

The global packaging tapes market has reached 71.7 Bn 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 30-35% 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 during 2022-2032 and is anticipated to offer a growth opportunity of US$ 45.3 Bn.

The shipping and logistic industry is anticipated to grow rapidly due to rising population, changes in life-style, 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 during 2022-2032.

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Historic Market Outlook for Packaging tapes market

The global packaging tapes market is expanded at a CAGR of 4.8 % during the historic period and reached US$ 71.7 Bn in 2021 from US$ 58.6 Bn 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 during 2022-2032, attributed to increasing consumer preference for packaging tapes in various end use industries.

What Augment the Demand for Packaging Tapes across the Globe?

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 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.

Ismail Sutaria
Ismail Sutaria
Principal Consultant
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Category-wise Insights

How does Plastic Material Generate a Positive Growth Outlook for Packaging Tapes Market?

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 during 2022-2032.

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 industry, plastic material is widely used electrical & electronics industry due to it provides flexibility, heat resistance, and protection against any climatic change.

Which End Use is projected to Increase Demand for Packaging Tapes?

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 tapes 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 having a great opportunity to grow in shipping and logistic segment. These factors will create higher demand for the packaging tapes.

Country-wise insights

How does Paper Industry in India Create Demand for Packaging Tapes Market?

The packaging tapes market is expected to grow at 6.0% CAGR during 2022-2032. 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, 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.

Why China has a Prominent Market Share in Packaging Tapes Market?

China’s packaging tapes market is projected to grow at CAGR 5.6% during 2022-2032. 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 Bn during 2022-2032.

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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Competitive Landscape

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 developing 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 –

  • In September 2022, Tesa developed a new packaging tape with backing material made from recycled post-consumer PET. The company is focusing on sustainability by launching a new product, the product includes 70% recycled (PCR) PET and a water-based acrylic adhesive system.
  • In July 2022, H.B Fuller Company has entered strategic partnership with Enimac to strengthen their e- commerce packaging.
  • In May 2022, Avery Dennison has announced investment of 60 Million euros in capacity expansion in European region.

Scope of the Report

Attribute

Details

Growth Rate

CAGR of 4.8 % from 2022 to 2032

Base Year for Estimation

2021

Historical Data

2015-2020

Forecast Period

2022-2032

Quantitative Units

Revenue in USD Billion, Volume in Sq. Meter and CAGR from 2022-2032

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

  • US
  • Canada
  • Mexico
  • Brazil
  • Germany
  • U.K.
  • 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

Packaging Tape Market by Category

By Material, Packaging Tape Market is Segmented as:

  • Paper
  • Plastic
  • Metal Foil

By Tape Type, Packaging Tape Market is Segmented as:

  • Pressure-Sensitive Tape
  • Masking Tape
  • Duct Tape
  • Filament Tape
  • Other Packaging Tapes

By End Use, Packaging Tape Market is Segmented as:

  • Automotive
  • Electric and Electronics
  • Building and Construction
  • Healthcare
  • Aerospace
  • Defence/Military
  • Shipping & Logistics
  • Other Consumer Durables

By Region, Packaging Tape Market is Segmented as:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Middle East & Africa
  • Oceania

Frequently Asked Questions

The market is likely to register a CAGR of 4.8% through 2032.

The market is currently valued at US$ 21.35 Bn in 2022.

The market is likely to grow to a valuation of US$ 34.12 Bn by 2032.

Asia Pacific is likely to be a leading market during the forecast period.

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Ismail Sutaria
Principal Consultant
LinkedIn
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Packaging Tapes Market