Dublin, March 19, 2021 (GLOBE NEWSWIRE) -- The "Sealing Strapping Packaging Tapes Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The sealing-strapping-packaging-tapes market is expected to grow at a CAGR of 9% over the forecast period (2021-2026). These tapes are used for sealing, closing of corrugated fiberboard boxes, reinforcing of packages, bundling items, pallet unitizing, etc.
The e-commerce industry, wherein more and more consumer goods are being transported in single parcel shipments, the safety of such packages becomes an essential concern for the players. These tapes, therefore, provide a perfect solution to such players ensuring good sealability and closure of the packages. This is expected to boost the adoption of market growth over the forecast period.
For instance, during the 2019 edition of the Singles' Day Bonanza, Alibaba logged more than 268 billion yuan (USD 38.3 billion) of purchases, in which it shipped an estimated billion packages in a single day.
Some of the prominent players in the market, therefore, to cater to the future demand are increasingly conducting research and development activities that enable them to come up with product development.
In September 2019, 3M announced the availability of Scotch High Tack Box Sealing Tape 375+, an industrial packaging tape used for box sealing, splicing, recuperate, and other packaging applications.
The growing foodservice industry is increasingly deploying tamper-evident sealing tapes, which enables the food distributors to provide enhanced safety during delivery. For instance, in December 2018, Zomato introduced tamper-proof tapes to ensure protection against any chances of tampering with food.
Key Market Trends
E-commerce Industry is Expected to Hold Significant Market Share
The increasing shift from brick-and-mortar shopping towards the convenience of online shopping is expected to drive the adoption of sealing strapping packaging tapes. This is because in traditional brick-and-mortar supply chain products are shipped via palatalized loads, in bulk that involves the usage of standardized automated packaging equipment that uses a film-based pressure-sensitive packaging tape owing to its effectiveness in the automated application.
However, in the e-commerce industry, the distribution is manual making an easy-to-use carton sealing the perfect solution owing to its properties such as sealing heavy boxes and bundling of unpacked products that are used for moving, shipping and distribution offering flexibility.
Players such as 3M, Tesa and many more are offering sealing-strapping-packaging-tapes catering to the e-commerce industry that provides Reliability, Quick, easy application by hand, manual dispensers, Choice of lengths, widths, backings, adhesives, and colors to meet specific needs.
The growth of the e-commerce industry, therefore, would boost the adoption of the sealing and strapping packaging tapes. For instance, In 2018 there were 19.8 million eCommerce users in Canada it is expected that an additional 5.21 million users would be shopping online by 2021, according to data released by export.gov.
Asia Pacific is Expected to Hold Significant Market Share
The growth of the logistics industry in the region, coupled with the rise in online shopping, is expected to boost the adoption of the sealing-strapping packaging tapes in the region positively.
For instance, according to the National Development and Reform Commission (NDRC), the total value of social logistics in the January-July (2019) period grew 5.9% year-on-year incomparable prices to CNY 163.8 trillion (about USD 23.1 trillion). Additionally, the value of industrial goods logistics expanded by 5.8% year-on-year to CNY 148.5 trillion.
The growth of the e-commerce industry in the region is one of the significant factors that would fuel the market growth over the forecast period. For instance, according to Invest India, the e-commerce market in India is also set to witness a CAGR of 30% for gross merchandise value to reach USD 200 billion by 2026 and have a market penetration of 12% compared to the current 2%.
Such instances are indicative of the fact that the market in the region is expected to grow over the forecast period.
The competitive rivalry in the sealing strapping packaging tapes market is high owing to the presence of some key players such as 3M Company, Berry Global Inc., amongst others. The players in the market through research and development have been able to come up with the product developments that enable them to better serve the market, in turn, boosting the growth. However, the market remains fragmented.
In August 2019 - Kite Packaging launched four new machine tapes that are available in two width sizes - a 48mm and a 75mm. The company also introduced a new Kite low noise solvent tape and a vinyl tape, both of which are lower cost than the businesses' previous low noise and vinyl tapes and are Kite branded.
In February 2020 - Monta launched a new self-adhesive tape, monta biopack, a sustainable self-adhesive tape that consists of a bio-based film, the natural rubber adhesive consists of predominantly renewable primary materials.
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The market estimate (ME) sheet in Excel format
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Key Topics Covered:
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Demand for superior strength, toughness and break strength of Sealing Materials
4.3 Market Restraints
4.3.1 Strict Regulations regarding Single Use Plastics
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness - Porter's Five Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Material Type
5.2 By Adhesive Type
5.2.3 Hot Melt Adhesive
5.3 By End-user Industries
5.3.2 Food Services
5.4.1 North America
18.104.22.168 Rest of Europe
5.4.3 Asia Pacific
22.214.171.124 Rest of Asia-Pacific
5.4.4 Latin America
5.4.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Berry Global Inc.
6.1.2 CCT Tapes
6.1.3 Mactac, LLC
6.1.4 Nichiban Co., Ltd.
6.1.5 Intertape Polymer Group, Inc.
6.1.6 Ajit Industries
6.1.7 Scapa Group plc
6.1.8 Nitto Denko Corporation
6.1.9 Tesa SE - A Beiersdorf Company
6.1.10 3M Company
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
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