Packaging Tapes Market Size was valued at USD 14.14 Billion in 2023. The Packaging Tapes industry is projected to grow from USD 14.82 Billion in 2024 to USD 20.58 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.19% during the forecast period (2024 - 2032). The expanding online shopping market and the growing world e-commerce market are the key market drivers boosting the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The complexity of the supply chain for direct channels has increased due to the growth of e-commerce. Therefore, it is anticipated that e-commerce shipping will be handled around 15 times more than the regular distribution channel, which serves as an indirect delivery channel to consumers. Thus, it will increase the need for supplementary corrugated packing and broaden the range of taping options and boost the market CAGR.
Tapes are now one of the key marketing tools for brand owners, thanks to developments in digital printing and a growing need for printing techniques and systems in the tape production industry. The increased usefulness of packaging tapes is therefore anticipated to increase demand.
One of the best marketing tools available to brand owners is the packaging. To extend the reach of their brand beyond retail stores and into consumers' homes, brand owners are now requesting secondary packages. Over the projected period, this aspect is anticipated to fuel the retail sector's need for sealing and strapping packaging materials.
Because packing tapes are widely used in the automotive, building and construction, logistics and shipping, healthcare, and many other industries, demand for them is rising quickly. The market growth is also moderated by the increasing use of such tapes for both light- and heavy-duty applications ly. The most effective option for both indoor and outdoor uses has similarly been found to be packaging tapes. Because they can endure in outdoor applications like the construction and logistics sectors, they are helping the market grow. As they are extensively used for protecting dressings, catheters, and many other medical uses, packaging tapes are likely to expand the market significantly. Thus, driving the Packaging Tapes market revenue.
August 2023: Sustainability became a major focus, with companies introducing eco-friendly packaging tapes made from recycled materials or bio-based adhesives. This trend catered to growing environmental concerns and consumer preferences
September 2023: Innovation took center stage as manufacturers developed high-performance tapes with features like improved temperature resistance, tear strength, and longer shelf life. These advancements aimed to address specific needs in various packaging applications
Based on type, the Packaging Tapes market segmentation includes Filament Tapes, Double-Sided Tapes, Parcel Tapes, Light-Duty Packaging Tapes, and Others. The parcel tapes category comprise the greatest portion of the worldwide packaging tapes market. For shipping and transit, parcel tapes seal and secure parcels. Usually constructed of paper or plastic, the package is held together by a powerful glue. Parcel tapes come in various widths and lengths to suit various package sizes.
The Packaging Tapes market segmentation, based on Material, includes s Acrylic, Hot Melt, and Others. The acrylic category is the largest worldwide packaging tapes market segment. The clear, robust, and water-resistant synthetic resin creates acrylic tapes. They are popular for various packaging applications since they are reasonably priced and available.
Figure 1: Packaging Tapes Market, by Material, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The Packaging Tapes market segmentation, based on application, includes Food & Beverages, Chemicals, Consumer Goods, and Others. Food & beverages category comprise the largest application-based category in the world market for packaging tapes. Food and beverage containers, including boxes, bottles, and cans, are sealed and held together with food and beverage packaging tapes. Products for food and drink are also labeled with them. Population expansion, urbanization, and increased earnings are the main drivers of this rise.
The report provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World by region. The biggest market for packaging tapes is in North America, which accounts for around 40% of the market. The market is expanding in North America due to rising e-commerce shipping demand, the expansion of the food and beverage sector, and rising interest in eco-friendly packaging materials.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: PACKAGING TAPES MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe’s Packaging Tapes market is the second-largest packaging tapes market in the world. The same forces driving market expansion in North America are also propelling expansion in the region's manufacturing sector. Further, the German Packaging Tapes market held the major market share, and the UK Packaging Tapes market was the fastest-growing market in this region.
The Asia-Pacific Packaging Tapes Market is the third largest market in 2022. The market is expanding in Asia Pacific due to the region's booming e-commerce sector and the expansion of the food and beverage and manufacturing sectors. Moreover, China’s Packaging Tapes market held the largest market share, and the Indian Packaging Tapes market was the fastest-growing market in this region.
The packaging tapes industry is extremely competitive, with numerous big and small businesses vying for market share. Leading market players run their operations through well-recognized brands, a broad selection of products, and a strong geographic presence in numerous areas. Additionally, they continually try to demonstrate high innovation and use cutting-edge technology to get a competitive edge in the sector, solidifying their position in the Packaging Tapes industry.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Packaging Tapes industry to benefit clients and increase the market sector. The Packaging Tapes industry has recently offered some of the most significant medical advantages. Major players in the Packaging Tapes market include 3M, H.B. Fuller Company, Avery Dennison Corporation, Henkel AG & Co. KGaA, Nitto Denko Corporation, Advance Tapes International, Adhesives Research Inc., Bostik SA, Dow Corning Corporation, Evans Adhesive Corporation, Ltd., Franklin International, Intertape Polymer Group and Lord Corporation.
The 3M Company is a multinational enterprise with its main office in St. Paul, Minnesota. Five former workers of the Minnesota Mining and Manufacturing Company formed it in 1902, and since then, it has expanded into one of the most ly diversified technological corporations. Adhesives, abrasive chemicals, films, laminated materials, medical equipment, electronic parts, and optical films are just a few of the many goods that 3M makes. In addition to sealing boxes and packages for shipment, securely holding materials during assembly, and adding decorative elements to packaging, 3M packaging tapes are utilized in various ways.
German multinational company Henkel AG & Co. KGaA has its headquarters in Düsseldorf. One of the world's biggest chemical manufacturers, it offers various goods such as adhesives, detergents, cosmetics, and industrial chemicals. Packaging tapes made by Henkel are renowned for their superior quality, dependability, and adaptability. They are a dependable option for both customers and corporations. There are numerous colors, widths, and thicknesses of Henkel’s tapes. You may buy them online or at the majority of big-box stores.
April 2022: Avery Dennison opened their new production site in India and started operating there. The company intended to consolidate its manufacturing processes through this new facility to meet customer expectations while utilizing modern technologies and gaining from increased efficiencies.
July 2022: A high-performance tear tape using at least 70% post-consumer material was introduced by Essentra Tapes for packaging applications in various industries, including tobacco, FMCG, and electronics. Its goal is to produce sustainable packaging solutions. Thus this action fits into that aim.
June 2022: To fuse Bend laboratories' experience in sensing devices with Nitto's customer base and essential technologies, such as flexible printed circuit technology and adhesive technology, to launch new businesses, Nitto bought Bend laboratories.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 14.14 Billion |
| Market Size 2024 | USD 14.82 Billion |
| Market Size 2032 | USD 20.58 Billion |
| Compound Annual Growth Rate (CAGR) | 4.19% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Material, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | 3M, H.B. Fuller Company, Avery Dennison Corporation, Henkel AG & Co. KGaA, Nitto Denko Corporation, Advance Tapes International, Adhesives Research Inc., Bostik SA, Dow Corning Corporation, Evans Adhesive Corporation, Ltd., Franklin International, Intertape Polymer Group and Lord Corporation |
| Key Market Opportunities | Technological advancements |
| Key Market Dynamics | Increase the e-commerce industryGrowing online shopping |
Packaging Tapes Market Highlights:
Frequently Asked Questions (FAQ) :
The Packaging Tapes market size was valued at USD 14.14 Billion in 2023.
The Packaging Tapes market is probable to grow at a CAGR of 4.19% during the forecast period, 2024-2032.
North America had the largest share of the Packaging Tapes market
The leading players in the Packaging Tapes market are 3M, H.B. Fuller Company, Avery Dennison Corporation, Henkel AG & Co. KGaA, Nitto Denko Corporation, Advance Tapes International, Adhesives Research Inc., Bostik SA, Dow Corning Corporation, Evans Adhesive Corporation, Ltd., Franklin International, Intertape Polymer Group and Lord Corporation.
The Parcel Tapes category dominated the Packaging Tapes market in 2023.
The Acrylic base had the largest share in the Packaging Tapes market.
Research Analyst Experienced business professional with a demonstrated history of working in the cfnb industry. skilled in market research, and market estimation. strong professional with a masters focused in marketing management.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
