A recent market intelligence report that is published by Data Insights Partner on the global Sealing and Strapping Packaging Tapes Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Sealing and Strapping Packaging Tapes Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Sealing and Strapping Packaging Tapes Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Sealing and Strapping Packaging Tapes Market is offered. In accordance with the report, the global Sealing and Strapping Packaging Tapes Market is projected to expand by healthy CAGR over the period of forecast.
Market Insight, Drivers, Restraints, Opportunity & Trends of the Market:
Pressure sensitive tapes aimed at performing packaging functions like pallet unitizing, bundling units, reinforced packaging and many more is called sealing and strapping packaging tapes. Owing to a series of benefits, these goods have found widespread application in the food and beverage industry, automotive sector and electronics sector. The thriving end use sector is positively influencing the growth of this market.
The convenience associated with the usage of sealing and strapping packaging tapes is providing the initial impetus to this market. These tapes can be highly utilized for specific purposes that include bonding dissimilar things, vibration reduction, easy applicability and user-friendliness. They can tactfully be implemented in the room temperature and does not need additional heat, solvent and water to strengthen the adhesive capabilities. The high speed processibility and the absence of residual on removal of the tapes are positively influencing its market growth. They can be used in replacement of mechanical fasteners due to the lower levels of stress and vibration generated by the sealing and strapping packaging tapes relative to their mechanical counterparts. Numerous benefits associated with the use of this product is fueling the growth of sealing and strapping packaging tapes market.
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The surging development and growth of the e-commerce platforms are bolstering the market growth. The craze for packaging tapes to aid e-commerce shipments. Moreover, the complex handling of e-commerce shipments relative to the traditional distributional channel is driving the corrugated secondary packaging demand in turn charging up the taping solutions market. Further, advancement in e-commerce platforms at a lightning speed coupled with the drive for digitalization of the economy is augmenting the growth of this market.
Upsurge in environmental concern and the stringent regulations of the government across the globe for environmental conservation is bolstering the growth of this market since these products does not make harmful emissions in the environment.
The raw materials used in the production of sealing and strapping packaging tapes include organic and inorganic chemicals, natural rubber, synthetic rubber, acrylic which are derived on the basis of petroleum. These raw materials have volatile prices. The fluctuating oil prices and shortage feedstock and monomers used in the production of adhesive is leading to the immoderate prices of the sealing and strapping packaging tapes. Increasing cost of energy and fluctuating raw material prices is retarding the growth of the sealing and strapping packaging market.
The rigid directives of the government and the strict adherence to these laws on the utilization adhesive-based tapes is straining the growth of this market. Further, the firm regulations imposed on the chemical industry and restructuring of packaging tapes is restraining the growth of this market.
The growth of the e-commerce platforms and the positive influence of the acceptance of these platforms for shopping is likely to expand the shipments and provide lucrative opportunities to this market.
The booming food and beverage sector coupled with the widening base of the food delivery applications and the rising dependence of the consumers on it is a good scope for the sealing and strapping packaging tapes market.
The sealing and strapping packaging tapes market in North America and Europe is expected to dominate the market in the forecast period. The already presence and operation of the market for this good and the surging number of sports enthusiasts in the Europe region is expected to be the causes behind the domination of these regions in the market. The Asia Pacific region is projected to be the fastest growing region owing to the presence of emerging economies like China and India. The availability of labor at a cheap cost and the also the availability of raw materials that assists production in this region can be traced as the causes of such significant growth of this region in the forecast period. Acrylic adhesive segment of the sealing and strapping packaging tapes is expected to showcase a significant growth with an approximate CAGR of 4.9% in the forecast period.
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This market intelligence report on the global Sealing and Strapping Packaging Tapes Market encompasses market segments based on material, type of adhesive, application and country.
By Material the global Sealing and Strapping Packaging Tapes Market has been divided into:
q Polyvinyl Chloride
By Type of Adhesive the global Sealing and Strapping Packaging Tapes Market has been divided into:
By Application the global Sealing and Strapping Packaging Tapes Market has been divided into:
q Strapping and building
q Carton Sealing Tapes
By country/region, the global Sealing and Strapping Packaging Tapes Market has been divided into:
q North America (the U.S., Canada),
q Latin America (Brazil, Mexico, Argentina and other countries),
q Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as:
q Intertape Polymer Group
q 3M Company
q Shurtape Technologies LLC
q Berry Global Inc
q Nichiban Company Ltd
q CCT Tapes
q Nitto Denko Corporation
q Advance Tapes International
q Avery Dennison Corporation
q Ultra Tape
others have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Sealing and Strapping Packaging Tapes Market related investment & spending and developments by major players of the market are tracked in this global report.
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Few Recent Developments
Intertape Polymer Group
In November 2018, a 29% stake of Powerband (India) was acquired by Intertape Polymer Group with USD 9.9 million. This acquisition was supposed to improve consumer services in North American and European Market. The manufacturing facilities at low cost would benefit the company.
In September 2019, the obtainability of Scotch High Tack Box Sealing Tape 375+ was announced by 3M Company. It is a sort of industrial packaging tape that is utilized for splicing, box sealing, recuperate and other packaging solutions.
Shurtape Technologies LLC
In February 2017, Syntac Coated Products was acquired by Shurtape Technologies LLC. The former is a specialized manufacturer and designer of of adhesive coated products. The latter is a dominant manufacturer of adhesive tapes.
Ø This study offers comprehensive yet detailed analysis of the Sealing and Strapping Packaging Tapes Market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking into account 2019 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Sealing and Strapping Packaging Tapes Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of Type of models, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for Sealing and Strapping Packaging Tapes caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Sealing and Strapping Packaging Tapes Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
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v Position yourself to gain the maximum advantage of the industry’s growth potential
v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants
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