Printed Tapes Market Overview
Printed Tapes market Size was valued at USD 34.30 Billion in 2023. The Printed Tapes industry is projected to grow from USD 36.45 Billion in 2024 to USD 55.38 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.4% during the forecast period (2024 - 2032).
Printed tapes are significantly used to pack, seal and branding of extensive range of products. It is a beneficial option for the market player to focus more on logo and name of the company. These tapes turn a normal item into highly visual promotional tools for the company product and brand. Printed tapes are used for the purpose of tamper-proof security. Apart from providing security and visual appeal, the printed tapes also help in immediate recognition of the package and water resistance to secure the package from the water.
The growing demand for sustainable printing, increasing demand for aesthetic appeal and innovative printing styles, and emerging need from end-user industry such as transportation & logistics, food & beverages, and consumer durables will boost the global printed tapes market growth in the near future.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
COVID-19 Impact on the Printed Tapes Market:
The instantaneous spread of COVID-19 has caused considerable disturbance to a wide range of industries across the globe. Some of the major printed tapes end-users who were enormously hit by the pandemic include the Food & Beverages, Consumer Durables, and Transportation & logistics.
At the start, the outbreak of COVID-19 has immensely impacted the materials supply chains, mining operations, international trade, and production processes across the globe. As a result of a lockdown across geographies, the manufacturing facilities have faced serious troubles. The market players have had to close production facilities or operate the facilities below the optimal manufacturing capacities to stop the spread of COVID-19. Regardless of the aforementioned reasons due to the impacts of the COVID-19, global material production was gradually raised in August 2020.
The pandemic, which began in 2020, has highly impacted the printed tapes market due to the major capacity fall and sluggish demand growth. The effect of the novel coronavirus on printed tapes market demand was uneven throughout value chains, with sharp drops in various applications and high demand for medical applications. On the other hand, several manufacturers altered their current factories to fulfill the growing demand for Printed Tapes.
Printed Tapes Market Dynamics
Drivers
- Increasing demand from End-Use Industry
Printed tapes are gaining traction in the end-use industry, these tapes are used to enhance product traceability, ensures brand visibility, and safeguards the merchandise during transit. Moreover, companies are going for unique packaging that makes their products stand out from other. Printed tapes provide end-user with the option to make their brand recognizable from the outside of the package and deliver a message or warning right on the tape used to seal the carton box. These tapes find application in industries such as food & beverages, consumer durables, and transport & logistics.
Restraints
- Fluctuating Raw Material Prices
The quality of raw materials has a direct effect on the quality of printed tapes. A higher cost of raw materials will lead to a higher cost of production. The fluctuating price of raw material have a direct impact on the company to produce a product. Moreover, when the raw material price increases, the production cost also increases, which in the end increases the overall price of the finished product. Therefore, fluctuating price of raw material is going to restrain the global printed tapes industry in the years to come.
Opportunity
- Increase in Investment by Major Player and Expanding Digital Expertise
The augmented investment by major players such 3M, Nitto Denko Corporation, Tesa SE, and Intertape Polymer Group Inc for developing successful track record of new product, and the evolution of modern 3D printing technologies predominantly in the developing countries is anticipated to create lucrative opportunities for printed tapes market. The demand for printed tapes is redirecting towards the Asia-Pacific, majorly in China and India. Consequently, the scope of expansion for most industries is vast in these Asian countries. The printed tapes market is substantially developing, which proposes plentiful opportunities for the manufacturers.
Challenges
- Harmful Impact on the Environment
Printed tapes cause unfavorable environmental effects as, during the production, it emits harmful compounds such as formaldehyde, carbon dioxide, carbon monoxide, and others. Also, printed tapes are made up of materials like polypropylene and polyethylene, which ultimately release greenhouse gases and toxic chemicals into the environment, when dumped into landfills. These chemicals and gases impact the air, the water bodies, and the surrounding atmosphere.
Printed Tapes Market Segmentation
By Product Type
- Hot Melt Carton Sealing Tape
- Acrylic Carton Sealing Tape
- Natural Rubber Carton Sealing Tape
By Material
- Polyvinyl Chloride
- Polypropylene
- Polyethylene
By Technology
By Printing Ink
- Water-Based Ink
- UV-Curable Ink
- Solvent-Based Ink
By End-user
- Food & Beverages
- Consumer Durables
- Transportation & logistics
Regional Analysis
The Asia-Pacific printed tapes market is predicted to hold the most considerable share, by value, and the growth in the Asian region can be primarily due to the collaboration of key players, high-demand end-use industries, expansion of production capacity, and an upsurge in government investments. The Asia-Pacific market provides considerable opportunities for growth to the manufacturers and is foreseen to record the highest CAGR. Moreover, many global companies are constructing new facilities and preparing to expand, followed by technological advancements in the European region, which is expected to have a substantial market in the region. North America was foreseen to have increased demand for printed tapes, owing to the well-established food & beverage Industry in the USA and Canada, which has significantly increased the demand for printed tapes.
Competitive Landscape
The global printed tapes market is expected to highlight healthy growth throughout the forecast period. The global market represents strong numbers in terms of consumption and is expected to grow year on year. The global printed tapes market is highly fragmented, with a majority presence of tier-1 players.
List of the key players operating in the global printed tapes market are 3M Company, Nitto Denko Corporation, Tesa SE, Intertape Polymer Group Inc., Berry Global Inc., Shurtape Technologies, LLC, Vibac Group S.p.a, Atlas Tapes S.A., Advance Tapes International, BOLEX, Windmill Tapes, ADH Tape.
Some of the key developments include:
- In February 2022, Windmill Tapes has launched new LT5C digital LED printer and Plotter Cutter. This Digital printer is expected to achieve an exceptional 600dpi print quality and is capable of printing virtually all material types and further enhance the company product portfolio
- In April 2022, 3M has Collaborated with Innovative Automation to provide Robotic Tape System. This partnership will allow industrial manufacturers to take advantage of the benefits of 3M Tape in their assembly processes and also help in maximizing production, improving quality, reducing manual labor, and limiting re-work.
Report Overview:
The printed tapes market is segmented by product type, material, technology, printing ink, end-user, and region in the report. In terms of insights, this report has focused on various levels of analysis such as market dynamics, value chain analysis, Porter's five forces, competitive landscape, and company profiles—all of which comprise and discuss views on the global printed tapes emerging and fast-growing segments, regions, and countries.
Objectives of the Study
- To get a comprehensive overview of the global printed tapes market
- To get wide-ranging information about the key factors driving the market and market opportunities
- To gain information regarding the key players in the industry, their product portfolio, strategies, and key developments
- To gain insights about the key country/region in which the market is growing
Intended Audience
- Printed Tapes Companies
- Plastic Companies
- Research Institutes
- Academic Institutes
- Government Organizations
| Report Attribute/Metric |
Details |
| Market Size 2023 |
USD 34.30 Billion |
| Market Size 2024 |
USD 36.45 Billion |
| Market Size 2032 |
USD 55.38 Billion |
| Compound Annual Growth Rate (CAGR) |
5.4% (2024-2030) |
| Base Year |
2023 |
| Market Forecast Period |
2024-2032 |
| Historical Data |
2018 - 2021 |
| Market Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Product Type, Material, Technology, Printing Ink, and End-User |
| Geographies Covered |
North America, Europe, Asia Pacific, and Rest of the World |
| Countries Covered |
The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled |
3M Company, Nitto Denko Corporation, Tesa SE, Intertape Polymer Group Inc., Berry Global Inc., Shurtape Technologies |
| Key Market Opportunities |
Increase in Investment by Major Players and Expanding Digital Expertise |
| Key Market Dynamics |
Increasing demand from End-Use Industry |
Printed Tapes Market Highlights:
Frequently Asked Questions (FAQ) :
The global printed tapes market would register a growth of 5.4%.
The food & beverage industry will play a prominent role in taking the market forward.
Fluctuating raw material prices is key restraining factor.
Asia-Pacific would enjoy the upper hand in the printed tapes market.
China, as the largest consumer, would set the trend.
