" Overview of Gummed Tapes Market"
Global Gummed Tape Market Was valued around USS XX Mn In 2018. It Is Projected To Witness A CAGR Of XX % During The Forecast Period 2019-2027.
Gummed Tapes are light in weight and durable and these benefits offered by gummed tapes are expected to boost the market growth. Gummed tapes are widely adopted in industries such as food & beverages, e-commerce and others. Moreover, manufacturers are investing on R&D to comply with changing requirements of the clients.
Rising demand for tamper evident packaging is a contributor to the growth of gummed tapes market. Also, gummed tapes are rapidly adopted in other industries such as metal and industrial sectors.
High demand for corrugated packaging in the logistics and shipping sector is supporting the growth of gummed tape market. As water-activated gummed tapes form mono-materials and ensure tamper-evident packaging, their use for sealing corrugated boxes is expected to increase rapidly during the forecast period. In addition to this, rapid industrialization and cross-border trade are boosting sales of global rubber bands. Demand for environmentally friendly and recyclable packaging solutions is another factor boosting the growth of gummed tapes market.
However, Market growth is going to be strictly controlled by the presence of substitutes, including Bopp tapes, touch screen tapes and self-adhesives for cardboard sealing. Pressure sensitive tapes receive a massively higher efficiency than gummed tape in sealing cartons bearing light-duty products. Implementation of evidence-based tampering technologies in pressure sensitive tapes has led to higher end-user preferences for these tapes.
Fiber-Reinforced Tape Had Accounted For a Significant Share of XX% in 2018 and Is Expected To Remain Dominant during the Forecast Period
This form of additive segment is predicted to be the most lucrative segment in the market and expected to witness a CAGR of 4% by 2027. Influenced by their excellent tear and abrasion resistance as well as improved shelf life, fiber-reinforced tapes continue to define the bottom lines of the stakeholders. As fiber-reinforced tapes account for a significant share of total sales, suppliers are heavily focused on manufacturing these. Various key players across the globe are focusing on product innovation and these players are offering fiber-reinforced tapes in the market. Sales of fiber-based packaging tapes is expected to account for US $ 1.2 Bn by 2020.
On The Basis Of End Use Sector, Shipping And Logistics Based Gummed Tape Expected To Witness High Demand During The Forecast Period 2019-2027.
The market for gummed taped in shipping and logistics sector is expected to increase at a CAGR of 4.7 % in terms of volume during forecast period. Shipping and logistics industries had accounted for a majority of the share in 2018 and are expected to remain dominant by the end of 2027. Gummed Tapes are widely adopted in shipping and logistics sector owing to its various benefits and these factors are boosting the growth of gummed tapes in the market. High demand for corrugated packaging and high preference for gummed tapes in logistics and shipping sector is expected to fuel growth in the gummed tapes market.
Asia Pacific Gummed Tape Market had dominated Global Markets in 2018
Asia Pacific region accounted for a significant share of xx% in 2018 and is expected to remain dominant during the forecast period (2019-2027). Rapid growth of various industries in China and India such as e-commerce and electronics & electrical are expected to boost the growth of gummed tapes market. This is also encouraging various manufacturers to realign their strategies and focus on product innovation.
Availability of raw materials at low cost, strong presence of local suppliers and growing cross-border trade are further improving the market share of Asia Pacific in global total sales of gummed tapes.
North America and Europe are also expected to witness moderate growth during forecast period as these regions represent value added selling opportunities owing to participation of industry giants and leading technology pioneers.
Competitive Landscape Analysis
Holland Manufacturing Co. Inc., Waterproof Corporation Private Limited, Loytape Industries SDN.BHD., Papertec. Inc., LPS Industries LLC., Tesglo Pte. Ltd., Guangdong Yue Hui Polytron Technologies lnc., are some of the key players in gummed tape market across the globe.
Gummed Tape Market Segmentation:
Global Gummed Tape Market by Backing Material:
- Paper Gummed Tape
- Fiber-reinforced Tape
Global Gummed Tape Market by Product Type:
- White Gummed Tapes
- Brown Gummed Tapes
Global Gummed Tape Market by Adhesive Type:
- Starch Adhesive
- Other Adhesive
Global Gummed Tape Market by Application Type:
- Box & Carton Sealing
Global Gummed Tape Market by End-use Industry:
- Shipping and logistics
- Food and beverages
- Healthcare and hygiene
- Building and constructions
- Electricals and electronics
Global Gummed Tape Market by Region:
- North America
- Latin America
- Middle East & Africa