Printed Tape Market Size Estimated To Reach USD 44.56 Billion By 2027-Reports And Data
Reports And Data
The global Printed Tape market is forecast to reach USD 44.56 Billion by 2027, according to a new report by Reports and Data. The growing demand from the food and beverage industry for the purpose of packaging, promoting, and branding activities are leading to an increased demand for the Printed Tape Market. The product offers protection of materials in transit, along with ease of classification, which is leading to an increased demand for it.
Fluctuations in the raw material prices lead to reduced demand for the product. Also, the product requires high capital investment in the form of equipment and components used in production, which leads to a higher overall cost, thus acting as a restraint for the market. Also, a longer time is required for drying, which leads to a longer time for packaging, thereby hampering the market growth.
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The COVID-19 impact:
Due to the COVID-19 Pandemic, many countries have implemented lockdowns, due to which the majority of the industries have been shut down temporarily. The industries where printed tape finds applications, such as food and beverage and consumer durables, have not been operating or are experiencing a reduced demand in the current situation. Due to this, there is a reduced demand for printed tape, as well.
It is expected that when the situation becomes normal again, and the industries start operating again, the demand for printed tape will rise again. Also, some of the manufacturers which are not operating currently, are involved in innovations, so that they can capture a larger market size when the industries start operating again, which will lead to a higher demand for the new products and hence will lead to increased market size.
For the purpose of this report, Reports and Data have segmented into the global Printed Tape market on the basis of product, technology, application, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
Acrylic Catron Sealing Tape
Hot Melt Carton Sealing Tape
Natural Rubber Carton Sealing Tape
Technology Outlook (Revenue, USD Billion; 2017-2027)
Gravure
Screen Printing
Digital Printing
Lithography
Flexography
Others
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Application Outlook (Revenue, USD Billion; 2017-2027)
Food and Beverage
Consumer Durables
Transportation and Logistics
Others
Regional Outlook (Revenue, USD Billion; 2017-2027)
North America
Europe
Asia Pacific
MEA
Latin America
Further key findings from the report suggest:
Flexography is forecasted to grow at a CAGR of 6.0% in the forecast period. The primary reason behind this is the benefits that flexography offers, such as being able to be applied on any non-absorbent substrate in a wide variety of colors. However, flexography is unable to print intricate artwork, which can hamper the growth of the segment.
Printed Tapes find extensive applications in hazard safety and barricading. Newer technologies used in printed tapes allow multicolor and dual-color tapes, which help in denoting various types of dangers and signals in colors specific to the hazard. Due to this, the demand for hazard safety applications and road making is expected to grow high during the forecast period.
Natural Rubber Carton Sealing Tape is likely to grow at a rate of 5.6% over the forecast period. The product contains long-polymer chains, which when mixed with resin, provides an extremely flexible adhesive, which gives high strength adhesion. Also, natural rubber can stay flexible even at low temperatures, which is expected to lead to an increased demand for the product.
North America occupied the third-largest market share of over 20.0% in 2019. The primary reason for this is the growing demand for packaging, along with new technologies that print intricate artwork. The countries present in the region, such as the US contribute the largest to the market share, in terms of revenue, due to extensive applications in transportation and logistics.
Gravure held a significant market share in 2019. This is because of the properties of gravure printing, such as outstanding print quality, along with high printing speed. It uses a simple printing process, the flexibility of printing machine structures, and an accurate ink use, which is why it is popular among the manufacturers.
Key participants include 3M, Windmill Tapes, Bron Tapes, Kilby Packaging, Print-O-Tape, Fabo s.p.a., Supertape, Le Mark Group, Dalpo sp. z.o.o., and Shurtape Technologies, LLC, among others.
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Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2028
Chapter 3. Indicative Metrics
Chapter 4. Printed Tape Market Segmentation & Impact Analysis
4.1. Printed Tape Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
Continue…
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Finally, all aspects of the Printed Tape market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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