The global shipping tapes market is set to reach a valuation of USD 18.1 Billion in 2022 and expand at a CAGR of 4.3% in the forecast period (2022 to 2032). The global shipping tapes market is currently valued at around USD 17.6 Billion, and is anticipated to grow 1.6x to reach USD 27.6 Billion by 2032.
| Attributes | Details |
|---|---|
| Shipping Tapes Market Estimate (2022E) | USD 18.1 Billion |
| Market Size (2032F) | USD 27.6 Billion |
| Market Value CAGR (2022 to 2032) | 4.3% |
| Top 3 Countries Market Share | 37.6% |
The global shipping tapes market is estimated to hold nearly 24% of the global tapes market which is likely to be worth USD 74.8 Billion in 2022.
In the shipping tapes market, revenues in the acrylic adhesive segment showcased a year-on-year growth of 3.3% in 2021. Demand for natural rubber adhesives increased by 4.8% between 2020 and 2021, finds FMI.
By backing material, the plastic segment is expected to surge 2x, as compared to current sales by the end of 2031, growing at a CAGR of 3.1% during 2020 to 31. On the other hand, revenue of the paper backing material segment totalled USD 9.8 Billion in 2021. Demand for paper backed shipping tapes will accelerate as top 5 providers were holding 15-20% of the global shipping tapes market in 2021.
Sales of shipping tapes grew at a CAGR of 4.2% in 2021 with increasing consumption in the e-commerce industry. However, Future Market Insights (FMI) expects the global shipping tapes market to expand owing to the expansion of the pharmaceutical and food & beverage industries.
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Packing tape is one of the indispensable packaging materials used for both residential and commercial applications. Some packing tapes not only seal containers, but also help to load and unload them safely and efficiently.
Shipping tape offers excellent safety advantages, significant strength, high flexibility and durability, as well as outstanding endurance. It is also capable of keeping an individual’s package safe and sealed for a longer duration when it is used for shipping and storage purposes. Besides, it is resistant to temperature punctures and tears and thus can prevent package tampering.
Growing application of packaging tapes in various industries such as food, pharmaceuticals, and cosmetics is projected to elevate the global shipping tapes market. Continuous innovation, customization, new product development, and unique product processing activities are likely to create more promising opportunities in industries such as e-commerce.
Spurred by the aforementioned factors, the global shipping tapes market is anticipated to expand at a 4.3% CAGR during the forecast period.
Rapid expansion of the e-commerce sector and increasing online shopping activities across the globe are likely to drive the popularity of clear tapes. The e-commerce sector is set to propel the demand for secure packaging as robust mail packages help in protecting goods throughout the entire supply chain, as well as during transportation.
Growing importance of package security is another vital factor that would drive the market. Shipping tapes help in increasing the level of security in the e-commerce sector. These can also secure packages of any size while they are being shipped across the globe. These tapes are considered to be ideal for packaging lightweight products as they have very strong adhesives, which would prevent wear and tear before delivery. Manufacturers are using shipping tapes to restrict the entry of unwanted air and moisture into the product to prevent spoilage.
Emergence of unique branded shipping tapes is projected to excite buyers to open the product. Surging penetration of the internet is another vital factor that would push sales of products through e-commerce channels in developing countries. Thus, increasing demand for shipping tapes in the e-commerce industry is set to boost the global market.
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Customization is considered to be significant for improving brand exposure and package deliverability. Customized shipping tapes not only help in building brand recognition but also show the customer that the company pays attention to small details. Customized tape further conveys important information such as safety warnings and handling instructions.
It also encourages customer interaction by printing phone numbers, email, physical addresses, website, and other contact information. The development of several advanced designs and materials in the global shipping tapes market has increased their usage in some end-use industries. Custom shipping tapes provide a superior unboxing experience and help in connecting customers emotionally with the brand. Thus, rising popularity of the customization trend worldwide is expected to drive the shipping tapes market in the upcoming decade.
Trend of Online Shopping to Augment the Demand for Printed Tapes in China
According to the International Trade Administration, China is the largest e-commerce market globally and it generated around 50% of the world’s e-commerce transactions. In 2020, China’s online retail sector transactions reached USD 2.29 trillion. In 2021, the country’s e-commerce sales were 52% of the total retail sales, which made it the first country in the world to have more sales online, as compared to traditional retail sales.
Frequent shipping and transportation of products through e-commerce channels are boosting the demand for transportation tapes in China. The China shipping tapes market is thus expected to showcase a significant CAGR of 5.3% during the forecast period.
Increasing Exports of Pharmaceutical Products in India to Spur Sales of Sealing Tapes
India is estimated to register a CAGR of 6.7% in the shipping tapes market during 2022 to 2032. As per the facts published by Invest India, the Indian pharmaceutical industry plays an important role in the global pharmaceutical sector. By value, India ranks 14th and by volume, it ranks 3rd in terms of the production of medicines globally.
India is considered to be the largest generic medicines provider worldwide, with a 20% share in the global supply of medicines by volume. Also, it is the top vaccine manufacturer across the globe. The country is the largest exporter of pharmaceuticals with more than 200 countries aided by Indian pharma exports. Thus, rising import and export activities in the pharmaceutical industry are anticipated to foster the demand for laminated tapes in India.
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E-commerce Sector to Extensively Use Carton Sealing Tapes through 2022 & Beyond
According to FMI, the e-commerce end-use segment is expected to grow at a CAGR of 5.0% in the forecast period. These days, e-commerce sales are proliferated with the benefit of doorstep delivery. Strapping tapes are best in this regard as these allow manufacturers to ship their products without the fear of damages, thereby delivering a positive push to the e-commerce segment in the global shipping tapes market.
Acrylic Adhesion to Remain Highly Sought-After for Barcode Tapes
The acrylic adhesive type segment is expected to generate the largest shipping tapes market share of 47.1% in 2032. Acrylic carton sealing tapes can instantly bond to the packages such as corrugated boxes and can withstand a wide temperature range, as well as harsh environments. Their long-lasting surface adhesion is likely to spur demand in the promotional tapes industry.
Key players operating in the global shipping tapes market are adopting a variety of marketing strategies, including acquisitions, expansions, and partnerships to gain a competitive edge. Some of the key manufacturers are also focusing on new product development to expand their market presence among customers. A few recent developments in the global market are as follows:
In January 2022, tesa SE Group established a new manufacturing facility at Vietnam. Through this expansion, the company is planning to increase its consumer reach and fulfil the increasing demand for adhesive tapes by producing 40 Million=n.Sq.M. tapes per year.
In May 2021, Intertape Polymer Group launched a sleek and durable manual water-activated tape called Curby Mini-Taper for e-commerce retailers who require all the unique benefits of this tape to ship packages globally.
| Attributes | Details |
|---|---|
| Market Value in 2022 | USD 18.1 Billion |
| Market CAGR 2022 to 2032 | 4.3% |
| Share of Top 3 Countries | 37.6% |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2015 to 2021 |
| Market Analysis | Value (In USD Billion) and Volume (Billion Sq M) |
| Key Countries Covered | USA, Canada, Mexico, Brazil, Germany, UK, France, Italy, Spain, Russia, China, Japan, India, GCC countries, and Australia |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; the Middle East & Africa; and Oceania |
| Key Segments Covered | Adhesive Type, Backing Material, End Use, and Region |
| Key Companies Profiled | 3M Company; Intertape Polymer Group Inc.; Shurtape Technologies LLC; tesa SE Group; Nitto Denko Corp; Papertec, Inc.; Holland Manufacturing Co. Inc.; Berry Global, Inc.; Scapa Group plc.; Bolex (Shenzhen) Adhesive Products Co. Ltd.; Vibac Group S.p.a.; Ultratape Industries Inc.; Shanghai Yongguan Adhesive Productions Corp., Ltd.; Pro Tapes & Specialties, Inc.; Maxfel S.R.l; NEUBRONNER GmbH & Co.KG; Loytape Industries SDN.BHD.; Windmill Tapes & Labels Ltd.; Avery Dennison Corporation; American Biltrite Inc. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The global shipping tapes market size was valued at USD 17.6 Billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 4.3% from 2022 to 2032.
The acrylic adhesive type segment is expected to lead the global shipping tapes market during the forecast period.
The rapid expansion of the e-commerce sector and ongoing developments in the food & beverages and pharmaceutical industries are expected to drive the global shipping tapes market.
The e-commerce end use segment is expected to lead in terms of the global shipping tapes market share.
The U.S., China, India, the U.K., and Japan are the top 5 countries exhibiting high demand for shipping tapes.
The top five companies operating in the shipping tapes market are 3M Company, Intertape Polymer Group Inc., tesa SE Group, Shurtape Technologies LLC, and Nitto Denko Corporation.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Shipping Tapes Market Analysis 2015 to 2021 and Forecast 2022 to 2032 5. Global Shipping Tapes Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Adhesive Type 5.1. Natural Rubber 5.2. Acrylic 5.3. Others (Hot Melt, Water-Activated Tape, etc.) 6. Global Shipping Tapes Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Backing Material 6.1. Paper 6.2. Plastic 6.3. Others (Metal Foil, Glass Fiber, etc.) 7. Global Shipping Tapes Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By End Use 7.1. Food & Beverages 7.2. Pharmaceuticals 7.3. Building & Construction 7.4. E-Commerce 7.5. Cosmetics & Personal Care 7.6. Electrical & Electronics 7.7. Shipping & Logistics 7.8. Others (Textile, etc.) 8. Global Shipping Tapes Market Analysis 2015 to 2021 and Forecast 2022 to 2032, by Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Middle East and Africa (MEA) 8.5. East Asia 8.6. South Asia 8.7. Oceania 9. North America Shipping Tapes Market Analysis 2015 to 2021 and Forecast 2022 to 2032 10. Latin America Shipping Tapes Market Analysis 2015 to 2021 and Forecast 2022 to 2032 11. Europe Shipping Tapes Market Analysis 2015 to 2021 and Forecast 2022 to 2032 12. East Asia Shipping Tapes Market Analysis 2015 to 2021 and Forecast 2022 to 2032 13. South Asia Shipping Tapes Market Analysis 2015 to 2021 and Forecast 2022 to 2032 14. Oceania Shipping Tapes Market Analysis 2015 to 2021 and Forecast 2022 to 2032 15. Middle East & Africa Shipping Tapes Market Analysis 2015 to 2021 and Forecast 2022 to 2032 16. Country wise Shipping Tapes Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. 3M Company 18.2. Intertape Polymer Group Inc. 18.3. Shurtape Technologies LLC 18.4. tesa SE Group 18.5. Nitto Denko Corp 18.6. Berry Global Group Inc. 18.7. Scapa Group plc. 18.8. Bolex (Shenzhen) Adhesive Products Co. Ltd. 18.9. Vibac Group S.p.a. 18.10. Ultratape Industries Inc. 18.11. Shanghai Yongguan Adhesive Productions Corp., Ltd. 18.12. Pro Tapes & Specialties, Inc. 18.13. Maxfel S.R.l 18.14. NEUBRONNER GmbH & Co.KG 18.15. Loytape Industries SDN.BHD. 18.16. Papertec, Inc. 18.17. Windmill Tapes & Labels Ltd. 18.18. Holland Manufacturing Co. Inc. 18.19. Avery Dennison Corporation 18.20. American Biltrite Inc. 19. Assumptions and Acronyms Used 20. Research Methodology
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