VALLEY COTTAGE, N.Y. – Adoption of sustainable packaging across various industries, owing to its excellent conformability, shock-resistant, and good adhesion at changing ambient conditions, remains a key aspect driving the growth of the paper tapes market. A new Future Market Insights (FMI)’s study forecasts the paper tapes market size to reach a value of US$ 9.9 Bn by 2029, growing at a CAGR of 5.8% during the period 2019-2029.
Paper Tapes Reinforcing Market Growth
With an increasing inclination towards online shopping and growing environmental concerns regarding plastic usage, the demand for gummed paper tapes has surged. These tapes are an emerging trend in the retail & logistics sector for packaging, offering excellent tamper evident and temperature tolerant solutions. Moreover, eco-friendly paper tape is garnering significant traction, as it enables easy customization and offers a high degree of tamper-proof solution.
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Takeaways – Paper Tapes Market Study
- Rubber-based adhesives tapes are highly preferred by end-user industries, and the sales value is expected to grow at a CAGR of 6% over the forecast period. This growth can be attributed to high peel strength, good electrical and thermal insulation power, affordability, and versatility in the formulation.
- Use of paper tapes for masking and packaging in a number of end-use industries continues to account for relatively high sales, while growing application in decoration, labelling, and framing is likely to result in increased market share. These tapes ensure durable, precise, and safe packaging.
- Single-sided paper tapes are projected to be preferred over double-sided tapes. The market for single-sided tapes was valued at US$ 4.9 Bn in 2018, and is expected to grow significantly over the forecast period. These pressure-sensitive tapes are adhesive coated and are used for masking, carton sealing, electrical usage, and medical tapes.
- Manufacturers are tapping opportunities in building & construction, and retail & logistics verticals. The demand from these industries is projected to increase at a CAGR of 5.8% and 5.7% during the forecast period, respectively.
Preview Analysis of 2019 Analysis and Review of Paper Tapes Market by Product – Masking Tape, Packaging Tape, and Consumer & Stationary Tape for 2019 – 2029:https://www.futuremarketinsights.com/reports/paper-tapes-market
- In the building & construction sector, paper tapes is extensively used in window attachments, bonding of trims and door panels, and mounting of glass elements.
- North America accounted for approximately one-fourth of the revenue share in 2018, and the region will continue to maintain its lead in the global paper tapes market. However, Europe’s paper tapes market is expected to surpass the North American market by 2023. East Asia, on the other hand, is set to witness a quantum leap, taking over the European market in following years.
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Focus on Market Consolidation in Developing Regions
Key players in the paper tapes market are targeting opportunities in developing countries in Asia Pacific, in order to strengthen their market positions. Significant growth of end-use industries in the region is leading realignment of manufacturers’ strategies. Further, product innovation and R&D for more eco-friendly materials remain key focus area of these manufacturers to expand their customer base and ensure brand loyalty.
“Ease of application and user-friendly factors of paper tapes generate high demand for decorating, labeling, and framing applications. These tapes are relatively thin, smooth, and flexible, making them perfectly suitable for use in the paper and printing industry,” says FMI analyst.
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