Sealing and Strapping Packaging Tape Market Expected to Reach $ 24.62 Billion by 2026, According to Reports and Data
Growing acceptance of packaging tapes due to their easy application, heavy use in the packaging industry and increasing demand
NEW YORK, NY, UNITED STATES, Sept. 24, 2021 /EINPresswire.com/ – Global Sealing and Strapping Packaging Tape Market Expected to Reach $ 24.62 Billion by 2026, New Report Says of Reports and Data. An integration of different market factors drives the growth of the market. One of the notable factors in this regard is the growth of the e-commerce industry. In the functioning of the e-commerce sector, protective packaging plays an essential role. This type of packaging tapes is known for its characteristics such as lightness, flexibility and high tensile strength, which has resulted in its increased integration in the e-commerce sector.
In addition, the availability of packaging tapes of different qualities, some with a tensile strength of 600 pounds per inch in width and the continued expansion of the packaging and logistics industry is another notable market driver. which supports market expansion. The continuously growing manufacturing industry in different regions like Asia-Pacific and Europe is also increasing the demand for this type of packaging tapes. Another aspect that opens up new avenues of exploitation for the market is the evolution of market trends. There has been a growing demand for environmentally friendly products. Such changing preferences open up avenues for this type of packaging tapes which are formed from recyclable and biodegradable materials.
In the context of the region, Europe holds a considerable market share. The presence of major sealing and strapping packaging tape manufacturers in this region and a well established manufacturing industry contributes to the market growth in this region.
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Other key findings from the report suggest:
The sealing and strapping packaging tapes market held a market share of USD 17.10 billion in 2018. It is expected to experience a growth rate of 4.5% during the forecast period.
When it comes to the type of adhesive, the acrylic segment leads the market which generated the highest revenue of $ 7.70 billion in 2018 with a CAGR of 4.8% during the year. forecast period. The revenues generated by the Acrylic segment are the result of its characteristics such as tensile strength, elasticity and transparency which translates into its strong preference among end users.
When it comes to raw materials, the polypropylene (PP) segment generated the highest revenue of $ 7.35 billion in 2018, with the fastest growth rate of 5.2% during of the forecast period. The revenue generated by the PP segment is the consequence of its characteristics such as impact resistance, breaking strength and chemical resistance, which is reflected in its strong preference among the packaging tape manufacturers in the market.
In the context of application, Carton Sealing segment holds the largest market share of 63.0% in 2018 with growth rate of 3.7% during the forecast period. The market share occupied by this segment is attributed to the strong demand for carton sealing in different types of packaging for tertiary, secondary and primary packaging products.
Regarding the region, Europe holds the second largest market share of 23.0% in 2018 with the second highest growth rate of 4.9% during the forecast period. Factors such as the presence of major sealing and strapping packaging tape manufacturers in this region and a well established manufacturing industry contribute to the market share occupied by this region.
The main participants are 3M Company, Tesa SE, Avery Dennison Corporation, Nitto Denko Corporation, Scapa Group PLC, Intertape Polymer Group, Inc., Wuhan Huaxia Nanfeng Adhesive Tapes, Nichiban Co. Ltd, Mactac, LLC. and CCT Tapes.
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For the purpose of this report, reports and data have segmented the global Sealing and Strapping Packaging Tapes market on the basis of adhesive type, raw material, application, and region:
Adhesive Type Outlook (Volume, Million Meters; Revenue, $ Billion; 2016-2026)
Raw Material Type Outlook (Volume, Million Meters; Revenue, Billion USD; 2016-2026)
Outlook Application Type (Volume, Million Meters; Revenue, Billion USD; 2016-2026)
Strapping and bundling
Sealing of cartons
Regional Outlook (Volume, Million Meters; Revenue, Billion USD; 2016-2026)
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Chapter 1. Market synopsis
1.1. Market definition
1.2. Scope and premise of the research
1.4. Market estimation technology
Chapter 2. Executive summary
2.1. Summary overview, 2018-2026
Chapter 3. Indicative measures
Chapter 4. Market Segmentation and Impact Analysis of Sealing and Strapping Packaging Tapes
4.1. Sealing and Strapping Packaging Tapes Market Segmentation Analysis
4.2. Industrial outlook
4.2.1. Analysis of market indicators
4.2.2. Market driver analysis
22.214.171.124. Intensive use in the packaging industry
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