The global paper tapes market is likely to foresee a robust CAGR of 6.4% over the projected period, 2020-2030. The market is primarily driven by the varied applications of paper tapes all over diverse sectors. However, the stoppage of the paper sector had a direct effect on the manufacturing of paper tapes owing to delays triggered by supplies of raw materials on the onset of COVID-19, subsequently causing a drop-in paper tape to demand.
“Paper tapes are usually sold quickly and are considered an excellent investment by market players seeking to fulfill packaging requirements of consumers,” says an FMI analyst.
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Paper Tapes Market – Key Highlights
- East Asia holds the majority of the market share due to growing investment in infrastructure expansion and construction projects in both industrial and residential sectors.
- The building & construction end-use segment will remain lucrative due to increasing investments in several construction projects in both developed and emerging economies.
- The single-sided feature segment remains the most preferred option throughout the projected period.
- The packaging segment will remain key beneficiaries over the forecast period.
- The rubber-based adhesive category will be gaining traction in the global market.
- The masking tape category will remain dominant during the estimated period.
Paper Tapes Market – Drivers
- Escalating outdoor applications of paper tapes will be the generating growth prospects in the global market.
- Growing demand from electronics, furniture manufacturing, automobile industries, healthcare, and other industries emerges as a significant growth driver
- The rising focus on advanced and sustainable packaging solutions is creating development opportunities for paper tapes manufactured from natural materials.
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Paper Tapes Market – Restraints
- High investment in paper tapes and fluctuating raw material costs are posing a huge threat to players operating in the market.
- Preference towards using rubber-based gum can make paper tapes lose market share.
COVID-19 Impact on the Market
The COVID-19 pandemic has severely the paper tapes market. The absence of goods transportation owing to lockdown has declined the requirement for paper tapes. Insufficient supply of raw materials also has impacted manufacturing. This is projected to cause a drop in prices for paper tapes. Consecutively, FMI anticipates recovery amid the projected period owing mainly to the growing healthcare and construction industries.
Competitive Landscape
Leading players operating in the paper tapes market are NITTO DENKO CORPORATION, 3M Company, Tesa SE, Berry Global Inc., Intertape Polymer Group Inc., Shurtape Technologies, LLC, Atlas Tapes S.A., Vibac Group S.p.a, Advance Tapes International, Can-Do National Tape, BOLEX, SICAD S.p.A, FABO s.p.a., Pro Tapes & Specialties, Inc, PPI Adhesive Products, UBIS, PPM Industries S.P.A., ADH Tape, RITU RAJ TAPES PVT. LTD, and Speciality Tapes Industry.
PAPER TAPES MARKET TAXONOMY
Product Type
- Masking Tape
- Packaging Tape
- Consumer & Stationary Tape
- Others
Adhesive Market
- Rubber Based Adhesive
- Acrylic Based Adhesive
- Silicon Based Adhesive
Application
- Masking
- Packaging
- Sealing
- Bundling
- Fixing
- General Use
- Decorating
- Labelling
- Framing
- Others
- Tabbing & Splicing
Feature Type
- Single sided
- Double Sided
End Use
- Building & Construction
- Automotive
- Retail & Logistics
- Aerospace & Defense
- Healthcare
- Electronics & Electrical
- General Industries