Sealing and Strapping Packaging Tapes Market Forecasts to 2030 - Global Analysis By Adhesive Type, Material, Application, End User and by Geography

According to Stratistics MRC, the Global Sealing and Strapping Packaging Tapes Market is accounted for $24.24 billion in 2023 and is expected to reach $38.64 billion by 2030 growing at a CAGR of 6.89% during the forecast period. Packaging tapes for sealing and strapping are essential tools in the shipping and logistics industry, offering a dependable and safe method of packaging and shipping goods. Usually composed of polypropylene or PVC, sealing tapes are used to safely seal boxes, cartons, and packages. They provide resistance against tearing, moisture, and temperature changes. They are available in different adhesive strengths and widths to meet different packaging requirements.

According to the American Packaging Association, Effective packaging plays a critical role in protecting products, enhancing brand visibility, and ensuring consumer satisfaction throughout the entire supply chain.

Market Dynamics:

Driver:

Growing need from the e-commerce industry

The market for sealing and strapping packaging tapes has expanded dramatically as a result of the emergence of e-commerce platforms. The need for effective and safe packaging solutions that can survive the rigors of shipping and handling has increased as more people shop online. When it comes to making sure that online-ordered goods arrive at customers' locations undamaged, sealing and strapping tapes are essential. Moreover, it is anticipated that the need for these packing tapes will increase in tandem with the ongoing global expansion of e-commerce.

Restraint:

Environmental issues and sustainability difficulties

Growing environmental consciousness and an emphasis on sustainability are two major challenges facing the market for sealing and strapping packaging tapes. Conventional packing tapes contribute to plastic waste and pollution in the environment, especially if they are made of non-biodegradable materials like PVC or polypropylene. Additionally, there is a growing need for environmentally friendly substitutes that reduce the impact of packaging processes on the environment. The challenge for manufacturers now is to create sealing and strapping tapes that are recyclable or biodegradable without sacrificing strength and performance, in light of the growing sustainability movement.

Opportunity:

Developments in materials and tape technology

The market for sealing and strapping packaging tapes offers chances for innovation and distinction due to continuous advancements in tape technology and materials. In order to produce tapes with improved performance qualities-such as increased adhesion, strength, and environmental sustainability-manufacturers are investing in research and development. For instance, the creation of bio-based materials and pressure-sensitive adhesives enables the manufacturing of tapes that satisfy environmental standards in addition to performance demands. Furthermore, businesses can create cutting-edge sealing and strapping tapes that meet changing consumer demands and perform better by utilizing technological advancements.

Threat:

Price wars and intense competition

The existence of fierce competition and pricing wars among manufacturers is one of the main threats to the market for sealing and strapping packaging tapes. Many companies on the market are selling comparable goods, which puts pressure on prices and erodes margins. Manufacturers are frequently forced to cut prices in order to stay competitive, which can have a detrimental effect on sustainability and profitability. Moreover, aggressive pricing tactics have the potential to undermine product innovation or quality, which would ultimately lower customers' perceptions of the value of sealing and strapping tapes.

Covid-19 Impact:

The market for sealing and strapping packaging tapes has been significantly impacted by the COVID-19 pandemic, presenting both opportunities and challenges. At first, lockdowns, travel bans, and factory closures caused supply chain disruptions in the market, which resulted in a shortage of raw materials and production delays. However, the need for packaging tapes to secure and protect shipments increased due to the rising demand for necessities, especially in the e-commerce industry. In order to meet the demands of a market that was changing quickly, there was an increasing emphasis on effective and dependable packaging solutions as businesses adjusted to remote work and consumers began to shop online.

The Acrylic segment is expected to be the largest during the forecast period

It is projected that the acrylic category will have the largest market share. The strong adhesive qualities of acrylic tapes make them popular because they can be applied to a variety of surfaces, such as cardboard, plastic, and metal. Their superior temperature resistance, UV stability, and durability make them ideal for a wide range of packaging applications in the manufacturing, logistics, and e-commerce sectors. Additionally, acrylic tapes are renowned for their fast track and durable holding power, which guarantees dependable package strapping and sealing during storage and transit.

The Polypropylene segment is expected to have the highest CAGR during the forecast period

The market's highest CAGR is predicted for the polypropylene segment. Because of their superior tensile strength, affordability, and resistance to tearing, polypropylene tapes are extensively used in the packaging industry. They are useful for sealing light to medium-weight packages because they have strong adherence to a range of surfaces. Furthermore, polypropylene tapes are renowned for their adaptability, which makes them perfect for use in a variety of industries like logistics, food and beverage, and e-commerce. The polypropylene segment of the sealing and strapping packaging tape market is expected to grow strongly due to the rising demand for dependable and affordable packaging options as well as developments in tape manufacturing technologies.

Region with largest share:

Packaging tapes for sealing and strapping have the largest market share in the Asia-Pacific region. The quick industrialization, the growing e-commerce industry, and the expansion of manufacturing activities throughout nations like China, India, Japan, and South Korea are some of the reasons for this dominance. In order to secure shipments during transit, sealing and strapping tapes have become increasingly in demand due to the growth of online retailing and the growing need for effective packaging solutions. Moreover, packaging tape demand is further fueled by the region's strong infrastructure development and logistics investments.

Region with highest CAGR:

The Latin America region is anticipated to hold the highest CAGR in the packaging tape market for sealing and strapping. Growing industrial activity is largely responsible for the region's growth, especially in nations like Argentina, Brazil, and Mexico. Reliable packaging solutions are in more demand as the e-commerce industry grows and customer preferences shift to online shopping in order to ensure the safe transit of goods. Additionally, the development of logistics networks and infrastructure is another factor driving the expansion of the packaging sector in Latin America.

Key players in the market

Some of the key players in Sealing and Strapping Packaging Tapes market include Intertape Polymer Group, Inc., Mactac, LLC, 3M Company, Nitto Denko Corporation, Tesa SE, Shurtapes Technologies, Adchem Corporation, Nichiban Co., Ltd., Avery Dennison Corporation, Scapa Group plc, Canadian Technical Tape Ltd, Advanced Tapes International and Berry Global Inc.

Key Developments:

In March 2024, 3M and HD Hyundai Korea Shipbuilding & Marine Engineering (KSOE) have signed a joint research project agreement to develop large liquid hydrogen storage tanks using Glass Bubbles from 3M - a high-strength, low-density hollow glass microsphere. The collaborative research will focus on developing a high-performance vacuum insulation system for liquified hydrogen storage and transportation.

In August 2022, Shurtape Technologies LLC, a manufacturer and marketer of adhesive tape and consumer home and office products, has announced a partnership with Nastro Technologies, a tech startup specializing in asset tracking technology located in San Antonio, Texas.

In January 2022, Mactac, a Lintec company, has announced it has entered into an agreement to purchase the assets of Spinnaker Coating, LLC, representing $130 million of specialty revenue at a price of $40 million. With Spinnaker, Lintec, and Duramark Products (formally Ritrama USA and acquired by Mactac earlier in 2021) serving the industry together, Mactac says it delivers customers unmatched technology, capability, service, and value.

Adhesive Types Covered:

• Acrylic
• Rubber-Based
• Silicone
• Other Adhesives Types

Materials Covered:

• Paper
• Polypropylene
• Polyvinyl Chloride
• Polyester
• Other Materials

Applications Covered:

• Carton Sealing Tapes
• Strapping & Building
• Other Applications

End Users Covered:

• Food & Beverages
• Pharmaceuticals
• Automotive
• Logistics
• Oil & Gas
• E-Commerce
• Electronics
• Sports
• Furniture
• Kitchen Appliances
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances