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The global market for paper tape is expected to witness CAGR of 5% over the forecast period (2020-2028). Global Paper Tape Market is expected to exceed US$ 6.7 Bn by 2028
Paper tape producers are tapping white spaces in the healthcare and pharmaceutical industries. These industries are expected to generate revenues of more than a billion dollars by the end of 2029. Increasing preference towards online shopping and growing environmental concerns about high usage of plastics, together with an increase in the adoption of sustainable packaging has boosted the market share of paper tapes.
The extensive use of adhesive tapes in various industries, such as automotive, food and beverage, is a key driver supporting the growth of market. Moreover, Automotive manufacturers are gradually using adhesive tapes instead of mechanical fasteners such as bolts and screws to reduce vehicle weight and increase fuel efficiency. In addition, skin-friendly adhesive tapes are widely used in the manufacture of infant and adult diapers. In addition to this, the growing demand for environmentally friendly water-based adhesive products, coupled with the introduction of recyclable tapes made from biodegradable polymers, has increased the growth of the paper tapes market.
Market players also concentrate on the retail & logistics market, where paper tapes are extensively used for light and heavy duty applications. Sale of paper tapes in this end-use category is expected to witness growth in revenues in next coming years, particularly in developed regions. In addition to this, paper tapes are rapidly used in automotive industries.
Building and Construction Sector Driving the Growth of Paper Tapes Market
Building and Construction sector is expected to witness high growth in the forecast period. It is expected to witness a CAGR of xx% during the forecast period. Manufacturers of paper tapes are focusing on opportunities in various industries such as retail & logistics, building & construction sector. In the building and construction sector, paper tapes are widely used for fixing of windows, for the bonding of door panels and for the mounting of glass panels.
Demand for Masking and Packaging Tapes Triggering the Growth of Global Paper Tapes Market.
Masking and packaging tapes together accounted for more than 3/4 of total sales in 2019, attributing to their increasing use for a variety of packaging applications. Masking and packaging tapes are expected to account for significant share of xx% in 2028. Masking tape is expected to remain as a top selling product in the paper tape industry however packaging tape has recently gained momentum. These factors are expected to drive revenues of over US$ 2.2 Billion by the end of 202u.
Moreover, Increased adoption of paper tapes in the healthcare and pharmaceutical industries for the efficient treatment of wounds and injuries is generating tremendous opportunities for the stakeholders.
North America Continues to Lead the Global Paper Tape Market.
With almost a fifth of total paper tape consumption, North America continues to lead the global paper tapes market. North America Paper Tape Market is expected to hold signssificant share of xx% in 2028. However, Europe is expected to outpace the North America Market in next few years and continue to do so by 2028. In addition to this, East Asia Paper tape market is expected to surpass the European market in terms of growth during the latter half of the forecast period. South Asia paper tape market is estimated to witness a high CAGR during next decade.
Key players are focusing on opportunities available in various emerging economies in APAC. To sustain in the competitive market, various leading manufacturers are adopting strategies such as product innovation and high investments in R&D of eco-friendly products. These strategies remain key focus areas for the manufacturers.
Some of the key players of Paper Tapes Market are 3 M Company, Nitto Denko Corporation, Tesa SE, Lintec Corporation, Avery Dennison Corporation, Intertape Polymer Group, Inc., Shurtape Technologies, LLC., Scapa Group PLC, Lohmann GmbH & Co. Oh, Kg, Nichiban Co. Ltd, Sekisui Chemical Co., Ltd.
Paper Tape Market Segmentation:
- Masking Tape
- Packaging Tape
- Consumer & Stationary Tape
- Rubber-based Adhesive
- Acrylic-based Adhesive
- Silicon-based Adhesive
- General Use
- Tabbing & Splicing
By End User:
- Building & Construction
- Retail & Logistics
- Aerospace & Defense
- Electronic & Electrical
- General Industries
- North America
- Asia Pacific
- Latin America
- Middle East & Africa