The packaging tapes market is slated to register a CAGR of 2.2% over the period from 2024 to 2034. Demand is estimated to be worth USD 82.4 billion in 2024. By 2034, sales are anticipated to have reached USD 102.5 billion.
Demand for packaging tapes is climbing as a result of increased shipping and logistics activities. With import-export activities reaching new heights, the importance of shipping and logistics has only surged. As such, the logistics packaging market is set to reach around USD 33 billion by 2034. The rise in demand for logistics packaging is benefitting sales of packaging tapes too.
The function of packaging tapes is not limited to just sealing products. Companies are using the tape for branding purposes. Manufacturers are making customizable packaging tapes available to satisfy this need. Through these customized tapes, end-users are able to advertise further.
| Attributes | Description |
|---|---|
| Estimated Global Packaging Tape Market Size (2024E) | USD 82.4 billion |
| Projected Global Packaging Tape Market Value (2034F) | USD 102.5 billion |
| Value-based CAGR (2024 to 2034) | 2.2% |
An emerging use of the tapes is in the healthcare sector, specifically paper tapes. Hospitalization rates around the globe are increasing, due to the growing population and increase in the number of road accidents, among others. Hence, the role of paper tape in hospitals is becoming more important.
Paper tapes are vital in wound care management, preventing contamination and helping in the healing. Another way tapes are utilized in the healthcare sector is in laboratories. Tapes are part of the protective garments in labs, safeguarding researchers from contamination. Hence, the application of these tapes in healthcare settings is escalating.
Another significant end user industry for the product is the automotive industry. Packaging tapes are used in a variety of automotive parts, safeguarding against moisture and keeping things intact. Automotive production is ramping up throughout the world.
Initiatives like The Automotive Mission Plan 2016-26, a joint effort between the government of India and the Indian automobile industry, are expected to further aid production. Thus, market giants like 3M are making specialized tapes targeted toward the automobile sector.
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The table below highlights the CAGRs for the packaging tape market for the periods from 2023 to 2033 and 2024 to 2034. The periods are broken down into two semi-annual periods, the first half (H1) comprising January to June, while the second half (H2) comprises July to December. This section highlights the changes that take place in the demand with the time period changing.
For the 2023 to 2033 period, the CAGR for H1 is predicted to be 2.4%. A substantial decrease is predicted for H2 however, with the CAGR coming down to 2.1%.
| Particular | Value CAGR |
|---|---|
| H1 | 2.4% (2023 to 2033) |
| H2 | 2.1% (2023 to 2033) |
| H1 | 2.5% (2024 to 2034) |
| H2 | 2% (2024 to 2034) |
The CAGR for H1 is set to be 2.5% in the 2024 to 2034 period. Just like in the 2023 to 2033 period, H2 of the 2024-2034 period is set to see a substantial decrease in CAGR, projected to be 2%. Thus, in both periods, it is the first half that is set to be more beneficial.
Proliferation of E-commerce Platforms: A Wrapped Opportunity for Packaging Tapes’ Manufacturers
The use of packing tapes is being bolstered by the increased packaging needs brought on by e-commerce sales. Sales of packed food & beverage items, consumer goods, and more have reached unprecedented levels due to online activities.
Moreover, the presence of e-commerce giants like Amazon, eBay, and Alibaba makes it convenient for packaging manufacturers to capitalize on the growing demand. The e-commerce packaging market is set to cross the USD 200 billion threshold by 2034. The need for packaging equipment too has subsequently increased with growing sales over the e-commerce platforms.
Building and Construction Sector Making Greater Use of Packaging Tapes
The packaging tape market is benefiting from the increasing construction activities worldwide. Growing urbanization, population numbers, and the sizes of buildings getting bigger are all contributing to the robustness of the construction sector. Countries like the United States and Japan are witnessing construction expenditures go through the roof.
Packaging tapes play a vital role in construction. From propping up walls to preventing leaks in rooks, the use of tapes in construction is varied. Builders also tend to use these tapes as they are durable, able to withstand temperature fluctuations and exposure to light, as well as being cost-effective. Prominent companies like Avery Dennison Corporation and 3M are thus manufacturing tapes specially for construction purposes.
Sustainable Packaging Tapes Making Their Mark
The sustainability wave has hit the packaging tape market and more manufacturers are opting for sustainable products. From big-scale companies to eco-focused startups, sustainability has become a prime area of focus among stakeholders.
The manufacture of plastic tapes, especially single-use plastic, is drastically reducing. Producers are instead looking at more eco-friendly materials like kraft paper and plant-based materials. The production of compostable and biodegradable tapes has also developed rapidly. Environmentally focused manufacturers like Better Packaging Co. are thus getting more of the limelight.
The need for eco-friendly packaging tapes is also being fuelled by end-users who want to make the whole of their packaging sustainable. A substantial number of customers are focused on making the whole of their packaging equipment compostable or biodegradable. Commercial end-users also require eco-friendly tapes for their environmentally conscious packaging facilities. Hence, sustainable tapes are seen as the way forward in the market.
Disdain Over Plastic Tapes Cuts Short Growth
Even though a considerable number of manufacturers are switching to sustainable alternatives, plastic packaging tapes remain the norm. However, there is a growing aversion to the use of plastic in packaging. There is thus a shift towards the use of stretch films and stapling in packaging, even though these alternatives do not provide the sturdiness of tapes.
Manufacturers are seeking alternatives to plastic but that often requires investment in research and development and increases production costs. There are also doubts about tapes made of materials like fiber and paper, providing the same durability as plastic.
Plastic use in tapes also brings with it increasing regulations. Governments are clamping down on the use of plastic, making procurement difficult as well as pricey for manufacturers. These factors combine to negatively impact the growth of the market.
Principal Consultant
The packaging tape market was USD 74.9 billion in 2019. The market registered a CAGR of 2.1% during the historical period, ending up at USD 81.4 billion by 2023.
Sustainability continued to be a major concern for manufacturers in the historical period. A whole host of players came up with innovative sustainable products in the historical period. For instance, Essentra Tapes launched the SupaStrip PCR in July 2022. The tapes are made from 70% recycled content.
The influence of e-commerce was also felt in the industry. Manufacturers strived to make products suitable for the increased needs of the e-commerce industry. Thus, production levels ramped up in the historical period.
Tier 1 companies have established a dominating presence in the packaging tape market. These companies control large swathes of the demand. The companies also have well-established relationships with clients and thus end-users trust their products. Some of the well-known tier 1 companies are 3M Company, Avery Dennison Corporation, and Tesa SE. These companies are characterized by their wide portfolio of products.
Tier 2 companies do not possess the financial might of tier 1 companies but have still carved out a niche for themselves. They do it by offering a variety of products and catering to regional demand. Some notable tier 2 companies are Shurtape Technologies, LLC, Advanced Tapes International Ltd., and Folsen Tapes.
Tier 3 companies are concentrated on local demand, having a small gathering of loyal clients. These companies often distinguish themselves by offering sustainable products. Some notable tier 3 companies are Tape Technologies, Kraton Corporation, and Shenzhen Kylin Adhesive Products.
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The product most favored by end users is the pressure sensitive tape. Among adhesives, it is the hot melt variety that is the highest in demand.
| Segment | Pressure Sensitive Tape (Product) |
|---|---|
| Value Share (2024) | 32.7% |
Pressure sensitive tapes are estimated to account for 32.7% of the market share in 2024. These tapes are renowned for their bonding ability, helping non-compatible materials to stick together. The lightweight nature is another reason why the packaging sector prefers pressure sensitive tapes.
Pressure sensitive tapes provide uniform thickness, helping not only with storage and transportation but also not impacting the look of the packaging. Another reason for the tapes being high in demand is the constant new applications being found for it. For instance, the bonding abilities of the tape are seeing it being used more frequently in aerospace manufacturing.
| Segment | Hot Melt Adhesive (Adhesives) |
|---|---|
| Value Share (2024) | 40.1% |
Hot melt adhesives are estimated to take up 40.1% of the market share in 2024. Hot melt adhesives have overtaken solvent-based adhesives in terms of share. One of the prominent reasons for this is the low cost of these adhesives. Hot melt adhesives also have quicker cooling times, enabling manufacturers to speed up the manufacturing process.
With manufacturers experimenting with newer materials in the making of the tapes, versatile adhesives are required. Hot melt adhesives are able to bond with materials like plastic, foam, and cardboard, among many others. Hence, hot melt adhesives are climbing in popularity.
The encouragement for the packaging sector shown by the governments in the Asia Pacific makes the region a lucrative one for stakeholders. The manufacturing sector thriving on the back of increasing foreign investment and expanding facilities, sees Europe offers plentiful opportunities for companies in the market.
| Countries | CAGR (2024 to 2034) |
|---|---|
| India | 4.6% |
| United States | 1.3% |
| China | 4.2% |
| Spain | 2.5% |
| Thailand | 3.2% |
The packaging tapes market in India is estimated to register a CAGR of 4.6% over the forecast period. Branding has become an indispensable strategy for Indian businesses. Hence, packaging that is amenable to branding is highly sought after in India.
Packing tapes are no exception. Indian players like Sivakasi are providing branding options on packing tapes. Sivaksi, which is mostly known in India for producing firecrackers but also dabbles in packing tapes, also provides QR codes on their tapes.
Another key trend is the smart packaging. The advent of AI and advanced technology in the packaging industry is another sticky strategy key players are adopting. Technologies like NFC are integrated in the packaging tapes for real-time tracking and engagement with consumers. The tech-savvy consumers are wildly receptive to such trends, which is propelling the demand.
The China market is anticipated to advance at a CAGR of 4.2% over the projected period. The urbanization rates in China are high and coupled with government planning to modernize cities, the construction sector is thriving in the country. China is also building new cities, a case in point being Xiongan, near the capital Beijing. Thus, the scope of construction is expanding in the country. Packaging tapes are used extensively in construction projects. The growing construction sector is thus providing more incentives for the development of the market in China.
Another prominent reason for the progress of the product in China is the growing e-commerce business. Sites like Taobao and Alibaba are seeing increasing traffic, leading to more sales. According to data from the Chinese Commerce Ministry, online retail sales for 2024 rose 9.8% as compared to 2023, clocking in at nearly USD 1,000 billion. The increased e-commerce activities are necessitating more packaging equipment in the country, including tapes.
The Spain packaging tape market is set to register a CAGR of 2.5% over the period from 2024 to 2034. The environment in Spain is conducive to growth, not just for local companies but also for foreign players.
Foreign players are entering the Spanish space or expanding their presence in the country. For instance, French paper giant Antalis acquired the Spanish Cohal Group, which manufactured packaging tapes among other packaging equipment, in 2022. Antalis already had a subsidiary in Spain and through means of the acquisition further expanded its presence in the country.
The packaging tape market is dominated by a few giants. Any new entrants have to deal with competition from well-established giants. However, even with the consolidated nature of the market, small and medium-scale operations have still managed to make a name for themselves.
One of the prime strategies being focused upon by players is launching sustainable products. Both small-scale and big-name competitors have launched sustainable products recently, often made from recycled material. Significant amounts of money are also being invested in research and development. Research and development is tasked to come up with innovative material for sustainable tapes.
Key Industrial Developments:
Based on the product, the industry is divided into pressure sensitive tape, masking tape, duct tape, filament tape, and others.
Based on the material, the packaging tape market can be divided into plastic, paper, fiber, glass fiber, foam, and cloth.
Based on the end use, the packaging tape market is divided into logistics & shipping, building & construction, automotive parts packaging, pharmaceutical & medical devices, food & beverages, and other industrial end use.
Based on the adhesives, the packaging tape market can be divided into the following segments: rubber-based adhesives, acrylic-based adhesives, silicon-based adhesives, and hot melt adhesives.
The sector has been analyzed with the following regions covered: North America, Latin America, Europe, South Asia, East Asia, Oceania, and the Middle East and Africa.
The market is likely to register a CAGR of 4.8% through 2032.
The market is currently valued at USD 21.35 Billion in 2022.
The market is likely to grow to a valuation of USD 34.12 Billion by 2032.
Asia Pacific is likely to be a leading market during the forecast period.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034 6.1. Product 6.2. Material 6.3. End Use 6.4. Adhesive 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product 7.1. Pressure Sensitive Tape 7.2. Masking Tape 7.3. Duct Tape 7.4. Filament Tape 7.5. Others 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Material 8.1. Plastic 8.2. Paper 8.3. Fiber 8.4. Glass Fiber 8.5. Foam 8.6. Cloth 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End Use 9.1. Logistics and Shipping 9.2. Building and Construction 9.3. Automotive Parts Packaging 9.4. Pharmaceutical and Medical Devices 9.5. Food and Beverages 9.6. Other Industrial Use 10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Adhesive 10.1. Rubber Based Adhesives 10.2. Acrylic Based Adhesives 10.3. Silicon Based Adhesives 10.4. Hot Melt Adhesives 11. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 11.1. North America 11.2. Latin America 11.3. Western Europe 11.4. South Asia and Pacific 11.5. East Asia 11.6. Middle East and Africa 12. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 13. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 14. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 15. South Asia and Pacific Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 16. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 17. Middle East and Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 18. Sales Forecast 2024 to 2034 by Product, Material, End Use, and Adhesive for 30 Countries 19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 20. Company Profile 20.1. 3M Company 20.2. Nitto Denko Corporation 20.3. Avery Dennison Corporation 20.4. Tesa SE 20.5. Scapa Industrial 20.6. Saint Gobain Corporate 20.7. Intertape Polymer Group Inc. 20.8. Shurtape Technologies, LLC 20.9. PPI Adhesive Products Limited 20.10. Berry Global Inc. 20.11. Advanced Tapes International Ltd. 20.12. Vibac Group S.p.a 20.13. Folsen Tapes 20.14. PPM Industries SpA 20.15. Can-Do National Tape 20.16. H.B. Fuller Company 20.17. Schweitzer-Mauduit International (SWM) 20.18. Kruse Adhesive Tape, Inc. 20.19. NADCO Tapes & Labels, Inc. 20.20. Atlas Tapes S.A
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Packaging Tapes Market
