The global tape banding machine market size reached USD 2.29 billion in 2022 and is estimated to reach a valuation of USD 2.39 billion in 2023. With growing adoption across end-use industries such as food & beverages, logistics, healthcare, and electronics, the overall sales of tape banding machines are slated to rise at 4.3% CAGR between 2023 and 2033, totaling USD 3.65 billion by 2033.
Emerging trends indicate that growing demand for advanced packaging solutions across various industries may boost tape banding machine market revenues during the next ten years, with the top three countries holding around 29% of the market by the end of 2023.
Based on operation, the automatic segment may continue to dominate the global tape banding machine market and is anticipated to hold around 65% of the market value share by 2033.
Tape banding machines are innovative packaging equipment that use paper tape or plastic film to wrap several items together. They have become ideal packaging solutions across industries like food and beverages, healthcare, and electronics as they offer higher productivity levels, save time, reduce waste or unnecessary packaging, and are environmentally friendly.
The tape banding machine industry is estimated to experience a positive growth outlook as these machines optimize time, energy, and excess materials. According to FMI analysis, the tape banding machine sales may propel from 2023 to 2033 and is projected to create an absolute incremental opportunity of USD 1.2 billion.
The rise in demand for packing straps among various end-use industries is anticipated to supplement the sales of tape banding machines. The tape banding machine market is projected to grow 1.5 times the current market value during the forecast period.
Similarly, the growing need for improving productivity across manufacturing industries and innovations in banding machines may accelerate the growth of the tape banding machine market.
Tape Banding Machine Industry (From 2023 to 2033)
| CAGR | 4.3% |
|---|---|
| Market Size - 2022 | USD 2.29 billion |
| Market Size - 2023 | USD 2.39 billion |
| Market Size - 2033 | USD 3.65 billion |
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Global demand for tape banding machines is projected to record a steady CAGR of 4.3% between 2023 and 2033, compared to the 2.0% HCAGR registered from 2018 to 2022.
The increasing need for safe shipping of various products and the rising demand for strapping in the food & beverage industry is responsible for the growth of the tape banding machine market.
Tape banding machines are used for various commercial and industrial applications as they require low maintenance costs and have a high production capacity. Among the prominent businesses where tape banding machines are used mostly are logistics & warehousing, food & beverage, healthcare & pharmaceutical, electronics & electrical, and others.
The growth in logistics & warehousing and the food & beverage industries has led to an increase in the adoption of machines for various applications such as packaging food products, consumer goods, and pharmaceuticals products. The market value is projected to escalate in the coming few years as tape banding machines are great for quickly wrapping small or large amounts of goods and boosting the overall productivity of a business.
Growing Popularity of Sustainable Food Packaging to Trigger Market Growth
Tape banding machines are widely used in the food packaging industry. Over the last few years, the packaging industry has continually grown, creating the demand for advanced packaging solutions like tape banding machines due to their ability to secure packaged food products.
According to the industry report by the Foodservice Packaging Institute, 80% of foodservice suppliers and manufacturers experienced growth in volume and 58% expected profit growth in 2022. The increasing rise in the consumption of packaged food and online delivery is expected to push the demand for food packaging during the forecast period. Driven by this, sales in the tape banding machine market are poised to grow steadily.
Banding is the standard for sustainable food packaging because it reduces waste and carbon footprint as it is 100% recyclable. Banding machines help to reduce carbon footprint and are extremely economical. With increasing environmental concerns and stringent rules and regulations imposed by the government, numerous manufacturers are developing sustainability strategies to reduce plastic waste and shift towards eco-friendly food packaging. Thus, the rise in the packaging sector may fuel the demand in the tape banding machine market over the forecast period.
Increasing Usage of Banding in the Logistics and Warehousing Industry for Solving Packaging and Storage Issues to Foster Sales
Banding offers numerous benefits in packaging and storing goods. Bands are used to unitize multi-item goods or to secure individual products to boxes. The bands keep the units together on the conveyor belt to the packaging machine and provide a secure hold in the on-demand shipping carton. Optional and just-in-time codes printed directly on the bands support the digitization of the process.
Bands are sometimes used to seal shipping cartons instead of strapping them, especially for heavier items like pet food, furniture, car accessories, or household products. The wide bands, unlike strapping, do not damage the shipment cartons while facilitating handling to the product's end users.
Banding can help logistics and warehousing facilities improve productivity while solving packaging and storage issues. The increasing usage of banding in packaging and storage may boost the demand for tape banding machines during the forecast period.
Principal Consultant
1.6 to 2 Seconds Per Strap Tape Banding Machines Remain Mostly Preferred by End Users
End users mostly prefer the 1.6 to 2 seconds per strap capacity machines, and this category is expected to reach the highest market value of USD 1.5 billion in 2023. FMI predicts the 1.6 to 2 seconds per strap segment to expand at a CAGR of 5.4% in the tape banding machine market from 2023 to 2033.
There are different tape banding machines available in the market. Still, manufacturers prefer a device with a 1.6 to 2 seconds capacity as it reduces operator labor time, eliminates repetitive motion injuries, and minimizes room for error. As these machines strap at a quick speed and with high efficiency, many e-commerce and logistics industries are planning to install these machines to boost overall productivity. Due to this capacity, the 1.6 to 2 seconds per strap machines segment is estimated to reach a market valuation of USD 2.2 billion during the forecast period.
High Efficiency of Automatic Banding Machines, Making Them Ideal Packaging Solutions
Automatic tape banding machines are ideal for strapping businesses across various industries as they provide high performance, reduce operator labor time, and increase productivity. Banding machines are used during packing to save energy, time, and excess materials. The two most widely used tape banding machines are automatic and semi-automatic.
The tape banding machine manufacturers mostly prefer automatic banding machines as this machine increases the efficiency of the bundling process. They are easy to set up, use and maintain. Automatic banding machines are also extremely adaptable, allowing for various applications.
The strapping band is wrapped around the product horizontally or vertically, with the ends of the strapping material coming together. After applying the proper tension, the banding machine links these ends and closes the strapping band with a seal or buckle. Banding used by automated machines may not damage the corners and edges of the product, therefore enhancing the overall look of the product. Many tape banding machine manufacturers are adopting these machines to improve workers' safety, bolstering the market growth of tape banding machines.
The United States held around 14.9% of the market value share in the tape banding machine market in 2023, and it is likely to record a CAGR of 2.6% during the forecast period. Growth in the United States tape banding machine market is driven by the rising adoption of advanced packaging solutions across various sectors. To secure packaged goods and increase productivity, the heavy presence of leading banding machine manufacturers, and the rapid growth of packaging and e-commerce industries.
According to the Flexible Packaging Association, the flexible packaging market held almost USD 33.6 billion in 2019, with 52 individual plant locations accounting for about 52% of shipments. As tape banding machines have become an integral part of the packaging industry, the rapid growth of the packaging industry may continue to boost the demand for tape banding machines across the United States.
India’s tape banding machine market is anticipated to grow from USD 139.5 million in 2023 to USD 269.5 million by 2033. Demand in the market is driven by the rapid expansion of the logistics and warehousing sector, flourishing export business, and growing popularity of banding in the packaging industry.
According to the Federation of Freight Forwarders Association in India, after leaving the EU, the United Kingdom is working overtime to establish new trade agreements, and the deal with India is predicted to improve total trade by USD 30.2 billion annually by 2035.
As the trade business expands, the need for tape banding machines may increase as they save costs with a reduced volume of packaging materials and securely shipped goods.
FMI predicts the Indian tape banding machine market to expand at a CAGR of 4.8% during the forecast period.
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Most key players operating in the tape banding machine market are switching towards advanced packaging. Leading tape banding machine manufacturers similarly utilize new product development to grow their market presence among customers.
StraPack, Transpak, and ATS are the Top Leaders in Making Banding Easy, Sustainable, and Efficient
If you are looking for advanced packaging tools for your business, StraPack, Transpak, and ATS are the right companies. They have become leading providers of some most popular tape banding machines.
Since its establishment, StarPack Inc. has emerged as a leading manufacturer of pallet banding equipment, strapping machines, hand tools, etc. The business has a loyal client base and has solidified its position as the world's most reliable strapping and banding equipment manufacturer.
StarPack Inc. has historically provided various packaging solutions to multiple end-use sectors, such as strapping equipment, banding equipment, tape banding machines, hand tools, plastic strapping materials, and other packaging equipment. The business has a strong customer base and has built a solid reputation for producing the world's most reliable strapping and banding machines.
StarPack has become a popular site for customers wishing to buy high-quality strapping and banding machines. It provides customers with customized solutions ranging from cardboard packing to meal preparation.
Another key provider of tape banding machines is Transpak. The company has risen to fame as a leading manufacturer and provider of pallet banding and strapping machinery worldwide. The firm constantly develops pallet banding and strapping equipment with advanced features to increase its revenue share.
According to senior adviser and owner Chi-Jan Su, Transpak's yearly overseas sales in 2021 reached a record high of USD 55.6 million. Additionally, sales rose 33.5% in the first quarter of 2022. Significant increases in sales of specialty (transit) machines account for the majority of this income.
ATS provides premium quality, innovative, and sustainable banding solutions for sales packaging and packaging logistics. These machines offer outstanding reliability in the production process and enable businesses to improve their productivity.
ATS banding machines are portable and can be smoothly incorporated into current production lines, but they also provide stationary equipment that can be moved about. They are appropriate for clean rooms and perform flawlessly in cold, dry, and dusty settings. These machines are quite simple to use.
Switzerland is still the place where ATS banding machines are produced. Its banding devices are of the greatest caliber, have a very low maintenance requirement, and are energy-efficient. The company constantly strives to provide its customers with better packaging materials and solutions.
Recent Breakthroughs
The market is valued at USD 2.39 billion in 2023.
The United States held around 14.9% of the global market.
The market is estimated to reach USD 3.65 billion by 2033.
The growth potential of the market is 4.3% through 2033.
India’s market is anticipated to be valued at USD 139.5 million in 2023.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Capacity 5.1. 1-1.5 second(s) per strap 5.2. 1.6-2 seconds per strap 5.3. More than 2 seconds per strap 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Operation 6.1. Semi-Automatic 6.2. Automatic 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 7.1. Logistics & Warehousing 7.2. Food & Beverage 7.3. Healthcare & Pharmaceutical 7.4. Electronics and Electrical 7.5. Agriculture & Construction 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Dynaric, Inc. 18.2. StraPack, Inc. 18.3. HAMME MAKINE A.S. 18.4. SUNPACK 18.5. Transpak Equipment Corp. 18.6. Signode Industrial Group LLC 18.7. Fromm Holding AG 18.8. ATS-Tanner Banding Systems AG 18.9. FELINS 18.10. Bandall International. 18.11. Avi International Packaging Co. 18.12. The Plastic Strapping Company Ltd 18.13. Join Pack Machines Private Limited. 18.14. Millenium Packaging Solutions 18.15. TPC Packaging Solutions 18.16. Cyklop Global Packaging Solutions 18.17. Kopack Enterprises 19. Assumptions & Acronyms Used 20. Research Methodology
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Tape Banding Machine Market
