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, 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 drop in paper tapes demand.
“Paper tapes are usually sold quickly and are considered excellent investment by market players seeking to fulfil packaging requirements of consumers,” says an FMI analyst.
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Paper Tapes Market – Key Highlights
- East Asia holds majority of market share due to growing investment in infrastructure expansion and construction projects in both industrial and residential sectors.
- Building & construction end use segment will remain lucrative due to increasing investments in several construction projects in both developed and emerging economies.
- Single sided feature segment remains the most preferred option throughout the projected period.
- Packaging segment will remain key beneficiary over the forecast period.
- Rubber based adhesive category will be gaining traction in the global market.
- Masking tape category will remain the 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 significant growth driver
- Rising focus on advanced and sustainable packaging solutions is creating development opportunities for paper tapes manufactured from natural materials.
Paper Tapes Market – Restraints
- High investment on paper tapes and fluctuating raw material costs are posing 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 the manufacturing. This is projected to cause drop in prices for paper tapes. Consecutively, FMI anticipates recovery amid the projected period owing mainly to the growing healthcare and construction industries.
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 Report: Scope
|Historical Data Available for||2015-2019|
|Market Analysis||US$ Mn for Value and Volume in Mn Sq.M|
|Key Regions Covered||North America, Latin America, South Asia, Europe, East Asia, Middle East and Africa, Oceania|
|Key Segments Covered||Product Type, Application, Adhesive Type, Feature Type, End Use, and Regions|
|Key Companies Profiled||3M Company, NITTO DENKO CORPORATION, tesa SE, Intertape Polymer Group Inc., Berry Global Inc., Shurtape Technologies, LLC, Vibac Group S.p.a, Atlas Tapes S.A., Advance Tapes International, BOLEX, Can-Do National Tape, SICAD S.p.A, Pro Tapes & Specialties, Inc, FABO s.p.a., PPI Adhesive Products, PPM Industries S.P.A., UBIS, ADH Tape, Speciality Tapes Industry., RITU RAJ TAPES PVT. LTD|
|Report Coverage||Market Forecast, Competitive Landscape, Region-wise and Category-wise Analysis, COVID-19 Impacts, Key Trends|
|Customization & Pricing||Available upon Request|
Key Questions Answered by the Report
- At what CAGR the paper tapes market is expected to grow?
The global paper tapes market is forecast to rise at 3.4% CAGR between 2020 and 2030.
- Which is the largest market for paper tapes?
Asia Pacific currently holds dominance backed by surging demand and production in strong markets like India and China.
- Which are the top companies in the paper tapes market?
Some of the leading companies operating in the paper tapes market are 3M Company, NITTO DENKO CORPORATION, tesa SE, Intertape Polymer Group Inc., Berry Global Inc., Shurtape Technologies, LLC, Vibac Group S.p.a, Atlas Tapes S.A., Advance Tapes International, BOLEX, Can-Do National Tape, SICAD S.p.A, Pro Tapes & Specialties, Inc, FABO s.p.a., PPI Adhesive Products, PPM Industries S.P.A., UBIS, ADH Tape, Speciality Tapes Industry., and RITU RAJ TAPES PVT. LTD, among others.
- What is the outlook on the paper tapes market?
Due to COVID-19, the paper tapes market was hit severely. However, FMI foresees recovery during the assessment period owing primarily to the expanding construction and healthcare industries.