$22.1 Bn Sealing & Strapping Packaging Tapes Market - Global Forecast to 2023

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Feb 27, 2019, 05:45 ET

DUBLIN, Feb. 27, 2019 /PRNewswire/ -- The "Sealing & Strapping Packaging Tapes Market by Material (PP, Paper, PVC), type of adhesive (Acrylic, Rubber-based, and Silicone), Applications (Carton sealing and Strapping & bundling), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The global market for sealing & strapping packaging tapes is projected to grow from USD 17.4 billion in 2018, to reach USD 22.1 billion by 2023, at a CAGR of 4.89%.

Strategies such as product innovation are driving the sealing & strapping packaging tapes market, as manufacturers are focusing on developing new and innovative tapes to have a competitive edge. Sealing & strapping packaging tapes are widely accepted by various end-user industries due to its key properties such as sealing heavy boxes and bundling of unpacked products.

Other advantages associated with the use of sealing & strapping packaging tapes include good shear strength, better adhesion property, longer shelf life, due to the presence of filaments & adhesive, and allows printing & illustrations to be seen through the tape. Sealing & strapping tapes used while packaging cartons and boxes help during transport and strengthens the packages bearing significant weight. This tape is best suited for carton sealing, palletizing, unitizing, bundling, general packaging, and color coding.

Thus, the demand for sealing & strapping packaging tapes is projected to grow at a CAGR of 4.89% globally during the forecast period. Emerging markets such as countries in the Asia Pacific region have led to an increase in the application of sealing & strapping packaging tapes for packaging products. Stringent regulations for reshaping the adhesive-based packaging tapes market is a major restraint for the sealing & strapping packaging tapes market.

The acrylic segment is projected to grow at the highest CAGR during the forecast period

The rubber-based segment is projected to grow at the highest rate between 2018 and 2023. This adhesive provides excellent resistance to oxidation and protection in various temperature conditions and UV radiation. It also provides color stability, exceptional anti-aging properties, a good balance of adhesion & cohesion, excellent water resistance, high peel, tack, and shear strength. Rubber-based type of adhesive is extensively used in the packaging industry for manufacturing secure & sustainable packaging tapes.

The Asia Pacific region is projected to record the fastest growth during the forecast period

The Asia Pacific region is projected to be the fastest-growing market during the forecast period, followed by North America. In the Asia Pacific, China is projected to be the largest consumer for sealing & strapping packaging tapes, followed by Japan. However, India, with its growing packaging, construction, automotive, and healthcare industries is projected to drive the sealing & strapping packaging tapes market in the Asia Pacific region. The growing inclination toward sustainable and secure packaging solutions is projected to impact the sealing & strapping packaging tapes market growth in India.
Breakdown of primaries

The sealing & strapping packaging tapes market is dominated by large players, such as 3M Company (US), Avery Dennison (US), Intertape Polymer Group (Canada), Nitto Denko Corporation (Japan), Shurtape Technologies LLC (US), and Tesa SE (Germany).

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Developing Economies to Register High Growth in Demand for Sealing & Strapping Packaging Tapes
4.2 Sealing & Strapping Packaging Tapes Market, By Material
4.3 Sealing & Strapping Packaging Tapes Market, By Type of Adhesive
4.4 Sealing & Strapping Packaging Tapes Market, By Application
4.5 Asia Pacific Sealing & Strapping Packaging Tapes Market, By Application and Country
4.6 Sealing & Strapping Packaging Tapes Market: Key Countries

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Wide Range of Applications in the Packaging Industry
5.2.1.2 Increasing Demand From the Asia Pacific Region
5.2.1.3 Wide Acceptance of Packaging Tapes Due to Ease of Applicability
5.2.2 Restraints
5.2.2.1 Rise in Raw Material Prices
5.2.3 Opportunities
5.2.3.1 Emerging Economies in the Asia Pacific Region
5.2.4 Challenges
5.2.4.1 Stringent Government Regulations Reshaping the Packaging Tapes Market

6 Sealing & Strapping Tapes Market, By Material
6.1 Introduction
6.2 Paper
6.3 Polypropylene
6.4 Polyvinyl Chloride
6.5 Others

7 Sealing & Strapping Packaging Tapes Market, By Type of Adhesive
7.1 Introduction
7.2 Acrylic
7.3 Rubber
7.4 Silicone
7.5 Others

8 Sealing & Strapping Packaging Tapes Market, By Application
8.1 Introduction
8.2 Carton Sealing
8.3 Strapping & Bundling

9 Sealing & Strapping Packaging Tapes Market, By Region

10 Competitive Landscape
10.1 Overview
10.2 Competitive Leadership Mapping, 2017
10.2.1 Visionary Leaders
10.2.2 Innovators
10.2.3 Dynamic Differentiator
10.2.4 Emerging Companies
10.3 Source
10.4 Market Ranking

11 Company Profiles
11.1 Avery Dennison Corporation
11.2 3M Company
11.3 Nitto Denko Corporation.
11.4 Intertape Polymer Group
11.5 Tesa SE
11.6 Scapa Group PLC
11.7 Shurtapes Technologies
11.8 Nichiban
11.9 Mactac
11.10 Wuhan Huaxia Nanfeng Adhesive Tapes
11.11 Other Companies
11.11.1 Ajit Industries
11.11.2 Advanced Tapes International
11.11.3 Canadian Technical Tape Ltd.
11.11.4 Industrias Tuk, S.A. De C.V.
11.11.5 Berry Plastics Corporation.
11.11.6 Adchem Corporation
11.11.7 CCT Tapes
11.11.8 Dewal Industries
11.11.9 Adhesive Research, Inc.
11.11.10 Gergonne - the Adhesive Solution

For more information about this report visit https://www.researchandmarkets.com/research/w9n76j/22_1_bn_sealing?w=5

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