CLEVELAND, Dec. 26, 2018 /PRNewswire/ -- Demand for pressure sensitive carton sealing tapes is projected to grow 2.7% per year to $1.5 billion in 2022, on par with the overall pressure sensitive tape market. Contributing to growth is the increasing manufacture and retail sale of items that are shipped in boxes. Continued interest in online shopping will raise demand for corrugated boxes and the associated carton sealing tape. These and other trends are presented in Pressure Sensitive Tapes in the US, 12th Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm.
Faster growth will be prevented by:
- competition from lower-cost tape imports from Asia
- competition with water-activated tape and alternative sealing methods
- slow growth in corrugated box demand overall
- the commodity nature of carton sealing tapes, which prevent value growth
More information about this study is here: https://www.freedoniagroup.com/industry-study/pressure-sensitive-tapes-3645.htm
Pressure sensitive carton sealing tapes account for the majority of tape used to seal boxes for shipping, and the growing popularity of e-commerce facilitated an increased number of box shipments to US households. However, PSA tapes see competition from water-activated tapes, which possess such advantages as:
- tamper evidence
- permanent bond to cartons
- relatively favorable environmental profile
For example, e-commerce giant Amazon uses water-activated tapes with security printing to allow both ease-of-opening by the customer, as well as obvious evidence of tampering. Further adoption of water-based tapes will limit the growth prospects of pressure sensitive carton sealing tape, but the additional effort required for water-activated tapes will confine its use to larger box shippers for the foreseeable future.
About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Packaging studies can be purchased at https://www.freedoniagroup.com, www.marketresearch.com and www.profound.com.
SOURCE The Freedonia Group