Cartons sealed with gummed tape degrade at a much slower rate on variation in temperature, and perform better in humid environments and under very low temperature in comparison with regular pressure-sensitive tapes. Besides, the prolonged use of tape guns for sealing cartons has an adverse effect on the wrists of workers, reducing overall productivity. In contrast, gummed tape can be cut easily to obtain the desired length with the use of tape dispensers.
On the back of these factors, the global gummed tapes market is expected to exhibit a steady CAGR of 6.2% over 2019-2029, and is estimated to reach US$ 1.9 Bn by 2029.
Key Takeaways of Gummed Tapes Market Study
- The reinforced gummed tapes segment is expected to create substantial incremental revenue opportunity over 2019-2029, as these consist of fibers that provide additional mechanical strength such as high durability and abrasion resistance, and improve the tear-resistance of gummed tapes.
- Brown gummed tapes are expected to hold a major share of the gummed tapes market.
- Starch adhesive-based gummed tapes are expected to gain significant traction, attributable to the use of eco-friendly material such as potato starch and paper in these tapes. Starch-based gummed tapes provide effective bonding with packaging material.
- Gummed tapes are primarily used for box and carton sealing applications, as they offer strong adhesion and air-tight sealing.
- Expansion of shipping & logistics industries is expected to offer significant growth opportunities to players in the gummed tapes market during the forecast period. Increasing demand for tamper-evident packaging solutions during transportation is expected to boost the sales of gummed tapes.
- Europe is dominating the global gummed tapes market. Asia Pacific countries such as China, India, and Japan are anticipated to gain substantial market share over the decade, on the back of the high production of gummed tapes and low raw material prices in China.
“Key players operating in the global gummed tapes market can gain significant profits by focusing on enhancing their market presence in untapped markets and developing countries such as China and India, attributable to increasing industrialization and cross border trade in these countries.”
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Gummed Tapes Market Landscape
The gummed tapes market is highly competitive, and substantial growth is expected in next decade, attributable to the increasing adoption of tapes with environment-friendly material and excellent adhesion properties over other alternatives such as pressure-sensitive tapes and BOPP tapes.
Some of the leading manufacturers in the gummed tapes market are 3M Company, Intertape Polymer Group. Inc, Shurtape Technologies, LLC, Loytape Industries SDN.BHD., Holland Manufacturing Co. Inc., Papertec, Inc., LPS Industries, LLC, Windmill Tapes & Labels Ltd., Neubronner GmbH & Co., Can-Do National Tape, etc. FMI has identified 3M Company as a tier-I company. Product innovation and acquisition are the key strategies of this company. Tier-II companies include Polymer Group. Inc, Shurtape Technologies, LLC, and Loytape Industries SDN.BHD. Key players in the gummed tapes market are focusing on increasing their footprint in developing countries.
- In 2018, 3M Company invested more than 5% of its revenue on research & development to enhance product quality and product offerings.
- Intertape Polymer Group Inc. acquired Canadian Technical Tapes Ltd., a manufacturer of packaging tapes, in early 2018.