Sealing and strapping tapes are used in the packaging of cartons, bales, and boxes, to ensure safe transportation wherein the contents remain safe and intact. These tapes are capable of bearing considerable weight and hence are suitable for carton sealing, unitizing, palletizing, bundling, color coding, and general packaging.
As several leading manufacturers are offering high-quality sealing and strapping packaging tapes, the market will garner considerable revenue through the forecast period.
Global Sealing and Strapping Packaging Tapes Market: Growth Factors
The boom in numerous industries such as food & beverages, e-commerce, healthcare, pharmaceuticals, and personal care products has propelled the demand for packaging materials including sealing and strapping packaging tapes, boosting its growth. The surging demand for protective clothing used in various sectors such as healthcare, military, and chemical industry is presently one of the top trends in the global sealing and strapping packaging tapes market, owing to the outbreak of Covid-19.
The chief factor curtailing the growth of the global sealing and strapping packaging tapes market is the rising cost of raw materials. Raw materials such as paper, acrylic, organic & inorganic chemicals, natural rubber, synthetic rubber, and polyester and other resins are required in massive quantities for the production of sealing and strapping packaging tapes. As the cost of these materials goes up, the market can witness considerable hurdles.
The compulsion to adhere to a high number of rules and regulations, especially in the chemical industry, is another major restraint affecting the expansion of the global sealing and strapping packaging tapes market. Manufacturers in North America and Europe are following regulatory policies laid down by authorities such as Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH), Control of Substances Hazardous to Health (COSHH), and Environmental Protection Agency (EPA).
Notwithstanding these impediments, the global sealing and strapping packaging tapes market promises considerable growth as automation and cutting-edge technologies are being adopted in manufacturing procedures.
Global Sealing and Strapping Packaging Tapes Market: Segmentation
The global sealing and strapping packaging tapes market is segmented on the basis of material, type of adhesive, application, end-user and region. By material, the global sealing and strapping packaging tapes market can be segmented into paper, polypropylene (PP), and polyvinyl chloride (PVC). The polypropylene segment is expected to dominate the market by the end of the forecast period, driven by its properties such as resistance to humidity and elasticity, making it an ideal tool in manufacturing processes. By application, carton sealing and bundling & strapping, are the two major categories. The strapping and bundling segment will dominate the market in the coming years. There is a high probability that the carton sealing tapes segment might hold the highest share in the sealing and strapping packaging tapes market. Silicon, acrylic, and rubber are some key segments by type of adhesive. Of these, the acrylic segment is likely to contribute a majority of the share of the global sealing and strapping packaging tapes market. The major end-user segments in the global sealing and strapping packaging tapes market are e-commerce, transportation & logistics, electronics, food & beverages, automotive, kitchen appliances, furniture, and others.
Global Sealing and Strapping Packaging Tapes Market: Regional Analysis
The Asia Pacific region has been leading the pack in the global sealing and strapping packaging tapes market owing to escalating demand originating from the food & beverage and the e-commerce end-user segments. India, Japan, and China bear considerable untapped opportunities that might prove to be beneficial for market growth.
Large-scale adoption of advanced technology, increasing per capita incomes, improving lifestyle standards, increasing consumption due to fast growth of population, and industrial development in countries like China and India are some of the key drivers. The market is also receiving substantial impetus from increased adoption of low-cost packaging coupled with fast curing time of sealing and strapping packaging tapes.
Global Sealing and Strapping Packaging Tapes Market: Competitive Players
Scapa Group PLC, Nichiban Co. Ltd., 3M Company, Avery Corporation, Intertape, Tesa SE, and Nitto Denko Corporation, and Shurtape Technologies are some of the foremost market players in the arena of global sealing and strapping packaging tapes market. As per the latest developments, strategic acquisition is one of the most frequently used business tactics of the competitors in the global sealing and strapping packaging tapes market.