The sealing & strapping packaging tapes market size was estimated at USD 17.37 billion in 2018 and is projected to reach USD 22.07 billion by 2023 at a CAGR of 4.89%. Furthermore, the market is estimated at USD 17.38 billion for the consumption of 35.61 billion square meters in 2018 and is projected to reach 43.92 billion square meters by 2023 at a CAGR of 4.28%, in terms of volume.
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Key Market Players
Avery Dennison Corporation (US), 3M Company (US), Nitto Denko Corporation (Japan), Intertape Polymer Group (Canada), Tesa SE (Germany).
In November 2018, Intertape Polymer Group acquired the control of a 29% stake for USD 9.9 Million in Powerband (India). Acquiring a controlling interest in Powerband in 2016 provided the company with additional capacity for acrylic carton-sealing tapes in a low-cost manufacturing region to export these competitively-priced tape products to North America and Europe. Since then, having the overseas asset has enabled IPG to expand its market share in North America and negotiate better terms on raw materials for the US production of similar packaging tapes.
In September 2018, Scapa acquired Systagenix Wound Management Manufacturing Limited (US). With this acquisition, both the companies entered into an exclusive five-year manufacturing & supply agreement. With this acquisition, the company would be able to strengthen its product portfolio and cater to the increasing demand, thereby growing its geographic penetration.
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Critical questions the report answers:
What are the upcoming trends in the aftermarket? What impact do they make post-2020?
What will be the revenue-generating pockets for the key players in the market?
Which segment or region will lead the market, and why?
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Sealing & Strapping Packaging Tapes
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HOME ❯ TOP MARKET REPORTS ❯ SEALING & STRAPPING PACKAGING TAPES
Sealing & Strapping Packaging Tapes Market by Material (PP, Paper,
PVC), type of adhesive (Acrylic, Rubber-based, and Silicone),
Applications (Carton sealing and Strapping & bundling), and Region -
Global Forecast to 2023
[126 Pages Report] Sealing & strapping packaging tapes are continuous flexible strips of paper,
plastic, cloth, metal, or foam that are coated on a single or both sides with an adhesive. Sealing
tapes can adhere to a variety of substrates by applying light pressure at room temperature. On the
other hand, strapping does not require any adhesive and is majorly used in bundling and pelletizing.
The primary raw materials used to manufacture these packaging tapes are acrylic, rubber, silicone,
and other resins such as polyurethanes, poly-iso-butanes hybrid, nitriles, and hydrophilic adhesive
along with substrates such as PVC, paper, PP, fabric, metal, and foam.
The market size was estimated at USD 17.37 billion in 2018 and is projected to reach USD 22.07
billion by 2023 at a CAGR of 4.89%. Furthermore, the market is estimated at USD 17.38 billion for
the consumption of 35.61 billion square meters in 2018 and is projected to reach 43.92 billion
square meters by 2023 at a CAGR of 4.28%, in terms of volume.
The increasing use of these packaging adhesive-based tapes for various applications in all end-use
industries and the high demand for these tapes in the Asia Pacific region are some of the factors
driving the market. Increasing adoption of low-cost, flexible packaging and fast curing time of
sealing & strapping tapes are the major factors driving the sealing & strapping packaging tapes
market growth. However, the rise in raw material prices is a significant restraint for the growth of
By material, the polypropylene segment is