Global Sealing and Strapping Packaging Tapes Market 2019-2023
Global Sealing and Strapping Packaging Tapes Market: About this market
Sealing and strapping packaging tapes are used for bundling and securing of goods during shipment. They are also used for sealing reinforcement packages and carton closing. Technavio’s sealing and strapping packaging tapes market analysis considers sales from the polypropylene, paper, and polyvinyl chloride (PVC) segments. Our analysis also considers the sales of sealing and strapping packaging tapes in APAC, Europe, MEA, North America, and South America. In 2018, the polypropylene segment held the highest market share, which is expected to remain prevalent over the forecast period. Polypropylene tapes cannot be torn by hand, and they are available with various adhesives, making them the preferred choice for package sealing applications. These factors will significantly help the polypropylene segment in maintaining its leading market position. Also, our global sealing and strapping packaging tapes report has observed market growth factors such as the economical and efficient properties, growth of end-user industries, and increasing demand from developing regions. However, fluctuating prices of polypropylene and PVC, rising prices of wood pulp and paper, and stringent regulations curbing the use of plastic and polymers may hamper the growth of the sealing and strapping packaging tapes industry over the forecast period.
Global Sealing and Strapping Packaging Tapes Market: Overview
Economical and efficient properties
Sealing and strapping packaging tapes are low-cost and lightweight alternatives to polyester and steel straps. They also have superior break strength, low elongation, and impact resistance. These factors are increasing their applications in the automotive and packaging industries. As a result, vendors are recording increased sales. Therefore, economical and efficient properties of sealing and strapping packaging will cater to the growth of the global paraphonic synthesizers market at a CAGR of almost 5% during the forecast period.
Increasing demand for eco-friendly products
Countries such as the US, Canada, and Germany are increasingly seeking ways to reduce their carbon footprint. Therefore, the majority of the industries in these countries are deploying eco-friendly products such as sealing and strapping packaging tapes. Vendors are making the most of this trend and are offering bio-degradable and recyclable sealing and strapping packaging tapes to increase their sales. As a result, the increasing demand for eco-friendly products is a crucial trend that will have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global sealing and strapping packaging tapes market during the forecast period 2019-2023, click here.
With the presence of several major players, the global sealing and strapping packaging tapes market is fragmented. Technavio’s robust vendor analysis is designed to help clients in improving their market positions, and in line with this, this report provides a detailed analysis of several leading sealing and strapping packaging tapes manufacturers, which include 3M Co., Berry Global Inc., H.B. Fuller Co., Intertape Polymer Group Inc., and Nitto Denko Corp.
Also, the sealing and strapping packaging tapes market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunitie
3M Co., Berry Global Inc., H.B. Fuller Co., Intertape Polymer Group Inc., and Nitto Denko Corp.
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