NEW YORK, March 23, 2016 /PRNewswire/ -- The report "North American Packaging Tape Printing Market by Product Type (Hot Melt, Acrylic Based), Material (Polypropylene, PVC), Printing Ink (Water Based, UV-Curable), Mechanism (Digital, Flexography), End-user (Food & Beverages, Consumer Durables) - Forecast to 2020" Published by MarketsandMarkets, the Packaging Tape Printing Market size is estimated to grow from USD 5.4 Billion in 2015 to reach USD 7.0 Billion by 2020, at an estimated CAGR of 5.4% from 2015 to 2020.
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Printing on the packaging tapes highlights the company's name and logo, enables ease of stock handling and identification, enhances the visibility of product, and safeguards the merchandise during transit. It also makes the product visually appealing, thereby resulting in instant recognition of the packages. The high growth of the Packaging Tape Printing Market can be attributed to the fact that a significant number of brand owners are harnessing the printing technology over packaging tapes.
Growing demand for aesthetic appeal and innovative printing styles to print packaging tapes
Packaging tape printing has evolved as an integral part of the creative process for companies across the region seeking to garner attention or give their brand an aesthetically pleasing appearance, transforming it into a rapidly growing industry of its own. Printing on packaging tapes possesses high marketing potential; it enables product differentiation and ensures that the product is distinct and easily recognizable. Growth in the packaging printing industry, demand for aesthetic appeal, product differentiation, and technological advancements are some of the drivers behind the growth of the Packaging Tape Printing Market. The advent of global brands, rising consumerism, and growth of the packaging industry accounted for a significant increase in the scope of the Packaging Tape Printing Market.
Water-based inks to witness largest market size in the packaging tape printing market
Water-based inks offer better performance and low printing cost with less damage to the environment. It exhibits high level of compliance with the current environmental protection standards. Water-based inks are expected to hold the largest market share and dominate the Packaging Tape Printing Market from 2015 to 2020. The increased demand of ink having low volatile organic compound (VOC) content is fueling the market to grow.
Digital printing to play a key role in the packaging tape printing market
Digital printing in the Packaging Tape Printing Market is the fastest-growing printing mechanism with its ability to provide a high-quality and cost-effective solution for manufacturing high designed printed tapes along with the recycling options. Printer convertors are adding digital printers in their printing press to leverage its benefits of improved productivity, reliability, and cost-effectiveness over higher runs.
Hot melt carton sealing tapes to witness the largest value in the packaging tape printing market
The market of hot melt carton sealing tapes is expected to be the largest in terms of value, during the forecast period. The high demand for hot melt carton sealing tapes in the large number of industrial applications has contributed significantly in accelerating its demand in the Packaging Tape Printing Market.
Polypropylene to witness largest demand in the packaging tape printing market
Polypropylene in the Packaging Tape Printing Market is expected to attain the largest market size, during the forecast period. Polypropylene films, owing to their high strength and rigidity, are one of the most versatile, economic, and pre-potent barrier films that offer excellent moisture barrier, temperature resistance, clarity, gloss, durability, the ability to print, embossability, aroma strength, dimensional stability, and processibility. It has emerged as an economically viable alternative for packaging converters, thereby commanding a major market share in the packaging tape printing industry.
Food & beverage industry contributes maximum market share
Food & beverage, consumer durables, and transportation & logistics are some of the end-user industries contributing towards the high growth of the Packaging Tape Printing Market. The food & beverage industry is projected to witness the largest market size owing to the increased demand for innovative packaging and printing technologies in order to enhance the visibility of packaged products.
The U.S. is expected to attain the largest market share in the North American Packaging Tape Printing Market
The U.S. is expected to hold the largest market share and dominate the North American Packaging Tape Printing Market from 2015 to 2020. The U.S., being the largest manufacturer and supplier of printing materials and equipment, exhibits high-potential growth opportunities for the Packaging Tape Printing Market. However, the market continues to face challenges due to demand for high-quality printing at low cost while adhering to the government regulations. The major players in the Packaging Tape Printing Market include Quad/Graphics (U.S.), Hewlett-Packard Development Company, L.P. (U.S.), Xerox Corporation (U.S.), E.I. du Pont de Nemours and Company (U.S.), RR Donnelley & Sons (U.S.), SIAT S.p.A (Italy), and others.
The scope of the report covers detailed information regarding the major factors influencing the growth of the Packaging Tape Printing Market such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into their business overview, products and services, key strategies, new product launches, mergers & acquisitions, partnerships, agreements, collaborations, and recent developments associated with the Packaging Tape Printing Market.
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