The gummed tapes market size is projected to experience a compound annual growth rate (CAGR) of approximately 6.2% during the period from 2021 to 2031. According to a recent forecast, it is predicted that the sales of gummed tapes will almost double between the years 2021 and 2031.
The gummed tapes market is predicted to grow significantly during the course of the forecast period (2021–2031). Sticky tapes used in a number of packaging applications include gummed tapes, often known as water-activated tapes.
One of the main factors fueling the gummed tapes market’s growth is the expanding demand for these tapes in the packaging industry. Gummed tapes are often used in the packaging of food, beverages, and other consumer items due to their strong adhesive capabilities to guarantee that the containers stay sealed during transit and storage.
Request Sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-2821
Another factor driving market growth is the increasing use of gummed tapes in e-commerce and online retailing. The rise in e-commerce and online retailing has led to an increase in the demand for packaging materials that can ensure the safe and secure delivery of goods. Gummed tapes are well suited for this purpose as they provide a strong seal that cannot be easily tampered with, and are tamper-evident.
The gummed tapes market is segmented based on type, application, and region. On the basis of type, the market is segmented into paper gummed tapes, polypropylene water-activated tapes, and others. Paper gummed tapes are the most widely used type due to their cost-effectiveness and environmental friendliness.
On the basis of application, the market is segmented into packaging, construction, and others. The packaging industry is the largest end-user of gummed tapes due to the increasing demand for packaged food and beverages and the rise in e-commerce and online retailing.
Geographically, the gummed tapes market is segmented into North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is expected to be the fastest-growing region due to the increasing demand for gummed tapes in the packaging industry in countries such as China and India.
In conclusion, the global gummed tapes market is expected to grow at a significant rate during the forecast period due to the increasing demand for these tapes in the packaging industry and the rise in e-commerce and online retailing. The market is segmented based on type, application, and region, with Asia-Pacific expected to be the fastest-growing region.
Request Discount @ https://www.futuremarketinsights.com/request-discount/rep-gb-2821
Competitive Landscape
Key manufacturers operating in gummed tapes market are focusing on increasing their production capacity. They are also increasing research & development activities to meet the increasing demand from food & beverages, shipping & logistics, automobiles, and building & construction industries.
FMI opines, tier-1 players are adopting inorganic expansion strategies such as the acquisition of small or local players and thereby expanding the product portfolio. Meanwhile, the other market players are improving their product portfolio to cater to the growing demand for sustainable gummed tapes.
For instance,
- In September 2021, Ajit Industries Private Limited (AIPL) announced the launch of a new range of tapes that are made from biodegradable and recyclable materials. The product range includes self-adhesive tapes, water-activated kraft paper tapes, etc.
In June 2020, Irplast developed a removable gummed pvc-free tape as floor tape, covid-19 emergency, which is a removable floor-applied warning tape designed to delimit specific areas to guarantee social distancing.
Key Players:
- 3M Company
- Intertape Polymer Group Inc.
- Shurtape Technologies LLC
- Holland Manufacturing Co., Inc.
- Loytape Industries Sdn Bhd
- Papertec, Inc.
- LPS Industries, LLC.
- LPS Industries, LLC.
- Windmill Tapes & Labels Ltd.
Key Takeaways:
- By backing material, the fibre reinforced tape is expected to hold around 90% of the market by 2031.
- Brown gummed tapes segment is forecast to hold maximum share in the global market registering 6% CAGR during the assessment period.
- In terms of adhesives, the starch adhesives is projected to expand by 2x over the next decade.
- Based on application, the splicing segment is poised to expand at a CAGR of 7.5% by 2031, registering year-on-year growth by 8% during 2025-2027.
- By end use, shipping & logistics, food & beverages segment and electrical & electronics segment are anticipated to, collectively, hold around 40% of the market share.
- North America, Europe, and East Asia are projected to hold approximately 65% of the market share by the end of 2031.
“Increasing need for enhanced product safety and improved package sealing solutions across shipping & logistics, electrical & electronics, and building & construction industries is propelling the demand for gummed tapes. Expansion of aforementioned end-use industries in East Asia is expected to create growth opportunities for market players.” says an FMI analyst.
Buy Now/Purchase @ https://www.futuremarketinsights.com/checkout/2821
Gummed Tapes Market by Category
By Backing Material:
- Paper Gummed Tapes
- Fiber Reinforced Gummed Tapes
By Product Type:
- White Gummed Tapes
- Brown Gummed Tapes
By Adhesive Type:
- Starch Adhesives
- Other Adhesives
By Application:
- Box & Carton Sealing
- Splicing
- Others
By End Use:
- Shipping & Logistics
- Building & Construction
- Food & Beverages
- Electrical & Electronics
- Automotive
- Healthcare & Hygiene
- Metalworking
- Oil & Gas
- General Industries
- Consumer Goods
About Us:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com