Packaging Tapes Market To Exhibit Over 4.80% CAGR during 2020-2030
Research Reports
Dec 14, 2022
One of the markets that have recently experienced growth is the packaging tapes industry. In the year 2030, this attained a value of USD 19,550 million, and in the following year, a CAGR of 4.80% is predicted. The rise in the need for shipping protection and security is the key factor driving the packaging tapes market growth.
The use of e-commerce has grown significantly in recent years, which is the primary factor driving the expansion of the packaging tapes’ market value. E-Commerce businesses use tapes to package the items before sending them to the clients. One of the primary factors that have a favorable bearing on the market’s expansion is the economy’s rapid increase in the purchase of goods through e-commerce platforms.
One of the primary factors driving the growth of the packaging tapes market is the use of packaging goods in the food and beverage sector. The need for the production of packaging tapes is also increased by the expansion of the automotive industry. Another benefit that accelerates the growth of the packaging tapes market is the rise in the use of packaging tapes in healthcare facilities to carry medications.
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Regional analysis:
The Packaging Tapes Market is now more widely available in many places. They are the Middle East, Africa, Asia Pacific, North America, and Europe.
the crucial area that controls the market in the Asia Pacific region. This rise is a result of the economy’s quick expansion as well as more people using the E-Commerce platform to make purchases. The need for packaging tapes and the rise in investment activity in the retail sectors are also contributing to the market’s expansion.
Later, North America was followed by the Asia-Pacific area. North America is anticipated to have grown throughout the projection period. Countries like the US, Canada, and others are to thank for this expansion
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Market Segmentation:
Filament tapes, double-sided tapes, parcel tapes, light-duty packaging tapes, and others are listed by product.
Types of materials: acrylic, hot melt Others
By final users Chemicals, consumer goods, food and beverages, and other products
Key Players
Intertape Polymer Group, Avery Dennison Corporation, 3M, H.B. Fuller Company, Avery Dennison Corporation, Evans Adhesive Corporation, Ltd. Adhesives Research Inc., Nitto Denko Corporation, Bostik SA, Dow Corning Corporation, Henkel AG & Co. KGaA, franklin International, and Lord Corporation are some of the companies that have invested in the company.
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