Tape Stretching Line Market Overview
Newly released data from tape stretching line market analysis shows that global demand of the overall tape stretching line market is anticipated to register a CAGR of ~7% during the forecasted period and reach millions of units by 2031.
The market in East Asia and South Asia regions is projected to expand at higher growth rates and capture a significant share in the global market during the forecast period.
Global Tape Stretching Line Market: Market Outlook
Tape stretching lines commonly work on the principle of extrusion of films into homogenized melt and then conversion of the film from liquid state to uniform gauge tapes.
The tape stretching lines are used to manufacture bundles of tape of desired width and also widely used in conjunction to other machines in an effort to minimize the production time of final product.
The tapes manufactured are used in several applications like geo textiles, carpet backing, agro textiles, woven bags and wrapping fabrics among others. The consistently increasing demand for these applications in the end use industries is anticipated to augment the demand for tape strapping lines in the global market.
What are the Key Trends Impacting Growth of the Tape Stretching Line Market?
The increasing popularity of expanding the level of automation in the manufacturing process and integrating complete production lines is one of the trends which is positively influencing the tape stretching line market.
Several end use industry manufacturers are installing the tape stretching line instead of getting the tapes from the market in an attempt to increase efficiency and profitability margins for their products. Manufacturers in the target market are expanding their existing product portfolio with tape stretching line as per the demands of the end-use industry manufacturers’ existing machinery.
How is the Drastically Growing Construction Industry Reshaping the Tape Stretching Line Market?
Stretched tapes are widely used for various construction industry application and products. The woven bags made for the tapes are a preferred packaging item for sand, cement and many other products. The tapes are also used in wrapping the construction materials in order to avoid or minimize any damage caused due to the transportation.
There are several others small but significant application of the stretched tapes in the construction industry that is driving manufacturers and suppliers of materials and products in the industry to install in-house tape stretching lines. The growing construction industry is anticipated to bolster the sales of tape stretching lines especially in the emerging nations.
What are the Key Challenges that may Restrain Growth of the Tape Stretching Line Market?
The growing concern of rapidly increasing plastic waste across the globe is a cause of concern for many organizations as well as national governments across the globe. In order to tackle this issue of plastic waste many countries are imposing restrictions on some of the applications of plastic in the packaging industry.
Further, the growing aversion of the consumers towards the plastic packaging solution and increasing adaptations to its alternatives is contributing in dampening the demand for stretched tapes across the developed economies which might restrain the growth of tape stretching line market.
Key global players such as
- Signode Industrial Group
- Starlinger Group
- Windmöller & Hölscher Group
- STC Spinnzwirn GmbH
- Exzakta Meccanica Limited
- J P Extrusiontech (Pvt) Ltd.
- and Zhejiang Nanyi Plastic Machinery Co.Ltd.
- among others
are in the tape stretching line market.
In the Asian region, players like
- Lohia Group
- Heaven Extrusions
- Ocean Rotoflex
- ATA Machinery (Guangzhou) Co.Ltd.
- Shree Radhe Industries
- Zhejiang Tianfeng Plastic Machinery Co.Ltd.
- Hao Yu Precision Machinery Industry Co.Ltd.etc.
are actively involved in the tape stretching line market.
What Strategies are the Key Players adopting to Increase their Market Share in the Tape Stretching Line Market?
Key players in the tape stretching line market are adopting a combination of strategies to increase their market share. To gain maximum markets share in the competitive market the manufacturers of tape stretching line are launching innovative customizable products and establishing strategic partnerships with end-use industry manufacturers. The players are introducing tape stretching line targeted towards specific end-use segments to capture the attention of manufacturers.
What are the Key Opportunities for Tape Stretching Line Market Manufacturers?
In the market for tape stretching lines, the increasing demand for customized and innovative products is very high. The manufacturers in the construction and agriculture industry need attractive and customized stretched tapes to enhance their branding and marketing strategies.
The players in the tape stretching line market have the opportunity to specifically target these manufacturers by offering equipment that can support customization in terms of color dying, dimensional specifications and elasticity of the final product.
Why will the China Generate Significant Demand for the Tape Stretching Line Market?
The equipment industry of China is anticipated to expand consistently due to its favorable manufacturing industry infrastructure. The country offers ease in the procurement of raw materials, availability of cheaper labor and favorable national government policies for manufacturing processes.
Further, the flexible packaging industry in China is well developed as a result of the presence of many regional as well as global manufacturers. All these factors are anticipated to augment the demand for tape stretching line market in the country.
What is the Impact of the Pandemic on the Growth of the Tape Stretching Line Market?
The COVID-19 pandemic had a severe negative impact on the tape stretching line. The cost-cutting strategies adopted by some end-use industry manufacturers to tackle the losses due to the pandemic dampened the demand for the automatic tape stretching line in the market.
However, the tape stretching line market is anticipated to recover rapidly as a result of the heightened growth of end-use industries projected in the post-pandemic scenario.
Key Segments of Tape Stretching Line Market Covered in the Report
Based on Capacity:
- Below 350 kg/hour
- 350 to 700 kg/hour
- Above 700 kg/hour
Based on End use:
- Others (Textile, Furniture)
Based on the Region:
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa