Market Research Blog

As per a recent market analysis by Future Market Insights (FMI), the global degassing valve market size is projected to top US$ 140 Mn in 2022. With sales growing at a 4.9% CAGR, the market size will total US$ 215.7 Mn in 2031.

Degassing valves are used for emitting/degassing the carbon dioxide and air inside various bags and pouches. With their exceptional functionality, these valves maintain the freshness, aroma, and quality of food such as coffee, dairy products, pet food, etc.

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With their degassing mechanism, these valves have brought about a significant change in the way coffee and other food products are packed and transported. The introduction of flexible packaging is also expected to boost sales of degassing valves over the assessment period.

Factors such as rising consumption of coffee among millennials and increasing import and export of coffee products worldwide are key factors driving the degassing valves market.

Degassing valves are available with or without a filter. Both types have their own mechanism and functionality. Degassing valves with integrated filters are mostly suitable for powdered food and coffee products. The filter can prevent small powder particles from getting into the degassing valve.

Leading manufacturers operating in the market are providing valves with filters to fulfil the precise requirements of brand owners. The addition of these filters enables manufacturers to offer degassing valves for both coffee bean and powdered coffee packaging.

Surging demand for degassing valves with integrated filter mechanism among the small as well as leading coffee brand owners is expected to complement the growth of the market over the assessment period.

Key Takeaways:

• By product type, the filter integrated valves segment is projected to account for 3/4th of the total market share through 2031.
• Based on material type, PE (Polyethylene) will emerge as the most preferred material for degassing valves production. The segment is projected to offer an incremental opportunity of US$ 38.0 Mn during the forecast period.
• Collectively North America and Europe are projected to hold around 52.0% of the degassing valve market share in 2022.

“Increasing consumption and trade of coffee in developing regions, along with the introduction of flexible coffee packaging to maintain the freshness of these products will continue pushing sales over the forecast period,” says the FMI analyst.

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Competition Landscape

CCL Industries, Goglio SpA, Fres-co System USA, Inc are the top players operating in the global degassing valve market. Furthermore, TricorBraun Flex, Plitek Valves Inc., Syntegon Technology GmbH, FLAIR Flexible Packaging Corporation, Layfield Group. Ltd., Amcor plc are among the leading players operating in the market.

The Tier 3 players in the market hold 35-45% in the global degassing valve market. In conclusion, key players contribute almost 55-65% of the global degassing valve market.

Leading players operating in the global degassing market are investing in research and development to develop flexible packaging solutions for coffee and other products. In addition to this, players are investing in mergers, acquisitions, and collaborations to gain a competitive edge in the market.

Among various industries using bag-in-box packaging solutions, the beverage sector has emerged dominant. According to a study by Future Market Insights, the beverages sector is expected to account for over 65% of sales in bag-in-box market.

Within the beverages industry, the wine segment holds the largest share.Using bag-in-boxes for packaging wines are particularly handy when it comes to use by an individual. Bag-in-boxes are lightweight than glass bottles commonly used for packaging, and are easier to be stored away.

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Europe has emerged as a key market and one of the leading producers of wine. The region has been exhibiting increasing application of bag-in-box for packaging and transportation of premium wines. Even wine expertsacknowledge that the wines in bag-in-box have a fully conserved taste.

Manufacturers are adhering to stringent food regulationsto ensure the flavor of the wine stays intact. Besides this, hygienic &useful access to the inside content, the plastic film deliberately guards wines against oxygen and light are some of the important aspects that made bag-in-box a foremost packaging solution for wines.

Several industries are opting for bag-in-box packaging solutions as these collapse easily into a flat bag and box which minimizes shipping cost and storage requirements. These factors are expected to enable growth in the market in the coming years.

Key Takeaways from Bag-in-Box Market

• Bag-in-box demand will rise steadily, exhibiting a steady growth at 5.7% between 2022 and 2031
• Rising demand from various industries will enable the U.S. account for over 86% sales in North America
• Increasing wine production will fuel demand from Germany, France, and Italy
• After a period of negative growth, sales in U.K. will revive exhibiting, 1.8% y-o-y growth in 2022
• China will account for leading share in East Asia, followed by Japan and South Korea

“The rising demand for flexible and sustainable packaging solutions will continue driving sales, especially in food and beverages sector. In order to cater to the rising demand, companies are focusing on various innovations” says FMI analyst.

Additional Equipment Costs Associated with Bag-in-Box Likely to Hamper Growth

Although bag-in-boxes are economical packaging solutioncompared to traditional packagingalternatives, addedequipment costs of bag-in-box are expected to limittheir sales.Costs associated with bag-in-box containers are anticipated to adversely affect the demand for bag-in-box, especially in emerging economies.

Impact of COVID-19 on Bag-in-Box Market

Withsurge in challenging conditions during COVID-19 pandemic, the sales ofbag-in-boxhas declinesubstantially across the globe. Therefore, the Y-o-Y growth rate in the year 2022 end has been lowered by nearly 1.3% in compare with 2031.Moderate negative influence in the demand for bag-in-boxamongstbeverage, food, and chemical segments has been observed, due to difficulties in the maintaining supply chains.

Opposing to this a study by packaging company Smurfit Kappa Group in association with Wine Intelligence uncoveredthat bag-in-box wine productshad 3.7 million new customersin France and the UK during the last six months of 2020.This is mainly due to people have increasingly shiftedto drinking and enjoining at home due to the limitations caused of the pandemic.

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Who is winning?

Smurfit Kappa Group plc, DS Smith plc, Amcor plc, Liqui-Box Corporation, Scholle IPN, CDF Corporation, TPS Rental Systems Ltd, Optopack Ltd., NWB Finland Oy, Aran Group and among others arethe prominent players in the global bag-in-box market. The Tier 3 players in the market hold 50-60% in the global bag-in-box market.

Companies operating in the market are focusing on innovations to cater to the rising demand. For instance:

• In September 2022, Smurfit Kappa launched innovative new Vitop® Blue tap for Bag-in-Box cleaning products which was first being used for Bag-in-Box hand sanitizer packaging – one of the most sought-after products during the Covid-19 pandemic.
• MondiStyria have launched a pair of next-generation films developed for multilayer BIB products used to package liquid food products and more.

Bag-in-Box Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the global bag-in-boxmarket, analyzinghistorical demand from 2016-2021 and forecast statistics for 2022-2031. The study reveals growth projections on the bag-in-boxmarket on the basis of  capacity (less than 5 litres, 5 – 10 litres, 10 – 15 litres, 15 – 20 litres and more than 20 litres), material (paper &paperboard and plastic(LDPE, ethylene vinyl acetate, metallized-PET, ethylene vinyl alcohol, nylon, and others))and end use (food (dairy products, sauces, vinegar & flavoring, and liquid egg products), beverages (alcoholic beverages, non-alcoholic beverages, water, and others), chemicals, petroleum, home care, and cosmetics & personal care) acrossseven regions of the globe.

Future Market Insights (FMI) in its latest research study estimated the demand for aluminum cans is expected to increase at 4.5% CAGR, surpassing US$ 112.3 Bn through 2031. Growing demand for beverage packaging is propelling the growth in the market.

Increased demand for smaller pack sizes coupled with a preference for convenient packaging will boost the market. Furthermore, rising use of flavored alcoholic beverages, wine, soft drinks, and energy drinks is predicted to improve aluminium can sales.

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Consequently, growing consumption of beverages among millennials across the globe will also aid the growth in the market. Furthermore, brand-owners are treating aluminium cans as a promotional tool, which is expected to create growth opportunities for the market players.

Key players are also focusing on improving the shapes and sizes to woo the end-users. Unique shapes, finishes, and features will also improve the shelf visibility of these cans. Hence, adoption of aluminium cans to achieve product differentiation, and eye-catchy prints will result in increased sales.

Manufacturers are focusing on product offerings and developing self-chilling and self-heating cans in metal can packaging innovations, which in turn is expected to boost the demand for aluminium cans over the forecast period.

Key Takeaways

• By product type, the 2-piece aluminium cans segment is anticipated to remain the leading segment, accounting for 52% of the market share in 2021.
• Based on capacity, more than 1000ml segment is projected to register a CAGR of 4.9% during the forecast period.
• In terms of end-use, the beverage industry is projected to remain primary end user in aluminium cans market, holding around 79% of the market share in 2021.
• South Asia and East Asia, cumulatively, will account for nearly 40% of the global aluminium cans market in 2021.
• Europe and North America, collectively, are projected to hold approximately 48% of the market share in 2021.

“Aluminium cans manufacturers are likely to collaborate with leading food and beverage companies to develop and innovate convenience technology for aluminium cans in order to maximize profits. Key players are also focusing on innovation in coating materials, patterns, and unique shapes to meet the requirement for product distinctiveness, which is in turn creating remunerative opportunities for the growth of the market” says an FMI analyst.

Use of Aluminium Cans to Enhance Point-of-sale Appeal and Product Differentiation

Aluminium is a lustrous metal, which widens its applications for point-of-sale packaging solutions. Its unique physical attributes are enhancing the aesthetics of the packaging, and plays a key role in product differentiation.

Furthermore, shaped aluminium cans with distinct prints & decorations are used to increase shelf visibility of products. Increased shelf visibility are aiding the sales of end users, as most beverage purchase decisions are made on the spot.

Hence, premium brands are adopting aluminium cans with distinctive shapes and eye catchy graphics which can grab consumers’ attention to boost their sales. These factors are also anticipated to fuel demand for aluminium cans for packaging of deodorants, perfumes and other personal care products.

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Aluminium Cans Market Landscape

Crown Holdings Inc., Ball Corporation, Ardagh Group S.A., are the top players operating in the target market. Furthermore, Silgan Containers LLC, Toyo Seikan Co., Ltd., Nampak Ltd., CCL Industries Inc., CPMC Holdings Inc. Kian Joo Can Factory Berhad, CAN-PACK S.A. are also noticeable players in the market. The Tier 1 players in the market hold 25-30% in the global market for aluminium cans.

Accounting for nearly 80% of total sales of insulated coolers, developed regional markets continue to lead their way in the global insulated coolers market. North America will particularly remain the key consumer market, as the U.S. has been witnessing a rapid surge outdoor recreational and sports activities over the recent past. Sales of insulated coolers, popularly known as camping coolers, will surpass the value of US$ 699 Mn in 2022 and would be witnessing a robust hike in demand through 2029.

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Increasing proclivity for luxury products continues to translate into inflating sales within the premium category, which would be a continuing trend in insulated coolers market. However, a new Future Market Insights (FMI) study suggests that this would reflect a measurable cost difference shaping the market over the following players.

Key Takeaways – Insulated Coolers Market Study

• Increasing preference for outdoor and sports activities such as camping, fishing, and hiking are expected boost demand for insulated coolers in the U.S.
• Hard coolers remain the most preferred insulated coolers, attributable to better durability and high ice retention ability as compared to soft coolers.
• Globally, 26-75 quart insulated coolers are estimated to be high selling among all insulated coolers in terms of capacity in 2019. Customers opt for 26-75 quart insulated coolers, as result of easy outdoor handling and conveying and adequate storage capacity.

Manufacturers can gain significant profits by focusing on hard insulated coolers with side handles, as consumers seek durability and ease in carrying while purchasing insulated coolers.

Acquisitions to Remain Key Developmental Strategy

The insulated coolers market is undergoing product development and expansion. Key players aim to introduce new designs of insulated coolers in the market in response to changing consumer preferences. Additionally, big companies offering insulated coolers are focusing on opening retail stores to expand their customer base.

• In June 2022, Yeti Holdings Inc. opened a 5,000-square-foot retail location in Charleston, S.C., U.S. In September 2019, it opened a 4,900 square-foot store in Chicago, U.S.
• In April 2022, Igloo Products Corporation launched RECOOLER, a pulp-based biodegradable cooler, as an alternative to Styrofoam coolers.

US Brands Become Trendsetters, with Online Sales Strategy

The U.S., home of high-end insulated cooler manufacturers, is estimated to dominate in terms of demand. Moreover, U.S.-based manufacturers will be the trend setters with regard to insulated cooler design. Leading companies in the insulated coolers market are investing in online stores and supply chain development, and are leveraging E-commerce and social media to shape buying patterns of their potential customers.

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About Insulated Coolers Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the global insulated coolers market, analysing historical demand from 2014-2021 and forecast statistics for 2022-2029. The study unravels growth projections of the insulated coolers market on the basis of capacity (below 25 quart, 26-75 quart, 76-150 quart and, above 150 quart), product type (hard coolers and soft coolers), and carrying method (side handles, lid handle, shoulder strap, wheel) across seven major regions.

The global cup filling machines market is projected to witness an average yearly growth of 4% through 2029. The considerable growth in cup filling machines market is majorly driven by rising consumption of dairy products and technological advancement associated with packaging machinery. Exceptional efficiency of cup filling machines is promoting their popularity among food manufacturers and suppliers.

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Expansion of the packaged food sector is particularly creating opportunity for cup filling machines manufacturers, attributing to their abilities to efficiently sealing and labelling the cups. This feature is likely to accelerate the demand for cup filling machines across the globe during 2022 – 2029.

Key Takeaways – Cup Filling Machines Market Study

• Rapid expansion of the food industry and considerable upgradation of packaging machinery are factors that reinforce market growth of cup filling machines, worldwide.
• The food industry has been recognised as key end users for cup filling machines, as this industry is witnessing a consistent demand for cup filling machines to fill and seal various food products such as dairy products, bakery & confectionary, and ready-to-eat meals.
• Moreover, widespread trend of working with less to create more, especially in the food packaging sector is contributing significantly to the growth of the cup filling machines market.
• Rotary cup filling machines are likely to remain prominent in the global cup filling machines market in next ten years.
• Automatic and semi-automatic cup filling machines are experiencing a soaring demand in the market. The capability of these advanced cup filling machines to facilitate the whole cup filling procedure with less interference of humans is enhancing market growth considerably.

Rising automation for high-speed packaging is one of the prime factors that continues to promote the growth of cup filling machines market. Furthermore, the demand for cup filling machines is anticipated to touch a new level in upcoming years as food product suppliers and manufacturers are focusing to raise production bars.

Europe and South Asia Emerging as Lucrative Investment Pockets

Over the past several years, the food and beverages industry has witnessed the astonishing growth in regions such as European and South Asian countries. Leading cup filling machines manufacturers are targeting these regions to capture a prominent market share. Top milk producing countries such as India, France, and Germany continue to create enormous opportunities for cup filling machines manufacturers that are seeking a stronger foothold in these regions as well as at a global level. Consistently increasing rate of cup filling machinery installations in these economies will drive the market growth in the near future.

• For instance, on June 6, 2022, NHM Machinery, one of the cup fill machines manufacturers installed CFM 2L automatic cup filling machines in Boeren Van Amstel dairy processing plant in the Netherlands.

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Learn More About Cup Filling Machines Market Report

Future Market Insights, in its new offering, offers an unbiased analysis of the global cup filling machines market, analyzing historical demand from 2014-2018 and forecast statistics for 2022-2029. The study unravels growth projections on the cup filling machines market on the basis of machine Type (rotary, linear), technology (automatic, semi-automatic and manual), capacity (Below 1000/Hr, 1001 to 3000/Hr, 3001 to 6000/Hr and above 6000/Hr) and end use (Food, beverage and others), across the seven major regions.

As per the recent research study of Future Market Insights (FMI), the global sales of VCI packaging was valued at ~US$ 600 Mn in 2018. According to the report, the global VCI packaging market is projected to expand at a CAGR of ~6% during the forecast period. According to FMI’s report, the rising export of primary metal & products from emerging economies is offering momentum to the global VCI packaging market. The growing need for efficient & secured metal packaging solutions is expected to be a primary factor for the growth of the market. Manufacturers of VCI packaging are grabbing the attention of end users by offering new designed VCI packaging products, which are highly suitable for specific applications.

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To satisfy consumers’ demand, manufacturers are adopting the strategy of product development, customer support & expansion. The packaging industry leaders across the globe are expanding product portfolio based on VCI packaging. The Mondi Group is also focusing on developing VCI packaging solutions to take benefits from the growing demand. The increasing demand for eco-friendly & sustainable VCI packaging is attributed to be beneficial for the paper packaging industry leaders to enter the market. 

VCI bags are expected to witness an increased in market share owing to large volume bags offered by manufacturers. The quick adoption of VCI bags by metal parts and components manufacturers is a vital factor for the rising demand for VCI bags in the market. Manufacturers are adding new types and formats in the VCI packaging product portfolio by understanding the end users’ need. The VCI paper is attributed to be the best alternative in the fulfillment of sustainable and low-cost packaging products. The VCI paper is expected to expand at a maximum CAGR while VCI film is projected to witness sluggish growth during 2019-2029. The VCI packaging product growth in the global market closely depends upon the rising need for packaging of different metal products and current & future packaging products available in the market. For instance, VCI film was highly used for packaging in the past, which is expected to a slowly replaced by VCI paper & bio-based VCI products in the future.

Investment of Emerging Economies in Manufacturing Sectors

The VCI packaging market is highly based on industries where metal parts and components are mostly used. Globally, the VCI packaging market is likely to grow due to demand from the primary metal & metal works industries. Owing to the adoption of VCI liquids and powders, the automotive industry is expected to witness a sluggish growth in the future. The aerospace & components industries are projected to increase the consumption of VCI packaging during the forecast period. The emerging countries are boosting the demand for VCI packaging by investing in the aerospace, metal, and electrical & electronics industries. Other processing industry are also shifting towards VCI liquid and powder to protect metal products & components due to new easy techniques for removal & applicators.

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FMI’s also highlights noteworthy insights into the competitive scenario of the VCI packaging market along with the key player’s main strategies. Key players in the VCI packaging market are engaging in product developments and introductions in new markets. For instance, in June 2019, the leading VCI packaging manufacturer, Cortec Corporation, launched biodegradable VCI packaging film (EcoCorr® Film), which provides contact, barrier, and vapor corrosion inhibition. In May 2019, the company also developed bioplastics and anticorrosion films plant in Baranja, Croatia.

This study underlines key opportunities in the VCI packaging market and finds that the market is projected to exhibit growth at a value CAGR of ~6% during the forecast period.

A new research report by Future Market Insights (FMI) on the thermoplastic tape market includes global industry analysis 2014 – 2018 and opportunity assessment 2019 – 2029. The report investigates the thermoplastic tape market and provides critical insights for the forecast period of 2019 – 2029. As per findings of the report, the global thermoplastic tape market is expected to witness a substantial growth during the forecast period. Low cost and effective performance of the thermoplastic tape in the manufacturing of automotive components are expected to drive the market growth in the upcoming years. In addition to enhancing visual appearance of the automotive parts, the diversification in usage and consumption of thermoplastic tape in different end-use sectors including aerospace and building & construction is likely to drive the market growth in the next ten years.

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According to FMI’s analysis, thermoplastic tape market players are targeted towards capitalizing on evolving scenario of the automotive industry, where lightweight components have been gaining significant momentum to enhance fuel efficiency and achieve low-carbon emissions.

Manufacturers Foresee Lucrative Opportunities in East Asia

Europe will continue to hold a prominent share in the thermoplastic tape market. However, high growth opportunities are expected in East Asia in 2019 and beyond. China is anticipated to represent high incremental opportunity and maximum growth rate in the region. With mounting environmental concerns, the government in the country are continuously imposing regulations to reduce dependency on fossil fuel, which led to increased adoption of composites in automotive and aircraft manufacturing. As a result, thermoplastic tape is likely to gain significant traction in the East Asian countries.

Industry Leader’s Perspective:

According to  R&D Vice President of Arkema – leading player in the thermoplastic tape market, carmakers in Europe are focusing on the development of lighter vehicles by replacing metal components with composites, in order to achieve the carbon emissions cap for new cars which will drop from 130 grams to 95 grams per kilometer by 2020. The company’s thermoplastic is set to be a part of this solution, by offering lightweight, efficient, recyclable properties.

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PAEK Resin Family Remain a Material of Choice

• By thickness, thermoplastic tape of 0.21-0.40 mm is expected to hold prominent value share in the market. Although it remains the most common thickness range used in the end-use industries, manufacturers are likely to focus on offering varying range of thickness to sustain the demand for different applications.
• On the basis of material, PAEK is a widely used resin family in thermoplastic tape, followed by polyamide resin. According to the manufacturers, high quality composites are formed when these materials are combined with carbon or glass fibers. However, the carbon-reinforced fiber provides more strength to thermoplastic tapes as compared to the glass-reinforced fiber.
• By end-use industry, significant adoption by the automotive industry will continue to account for relatively high sales.

Thermoplastic Tape Market: Vendor Insights

The report highlights prominent market players who have established themselves as market leaders in the global thermoplastic tape market. Some of the key players operating in the global market are Evonik Industries AG, Toray Industries Inc., Solvay S.A., Teijin Ltd., Mitsui Chemicals Inc. and Sabic Corporation, among others.

The global thermoplastic tape market is considered as consolidated with some market players holding prominent share of the market. Manufacturers in the thermoplastic tape market are investing in expansions and mergers to expand their product portfolio as well as their foothold in the market.

The latest market research report by Future Market Insights on the IBC rental business includes global industry analysis 2014–2021, and opportunity assessment 2022–2029. The report studies the IBC rental business and provides critical insights for the forecast period 2019–2029. As per the findings of the report, the global IBC rental business is projected to experience significant growth over the forecast period, due to various driving factors such as the growing demand from low-capital end-users and stringent shipping and storing regulations.

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The global IBC rental business is estimated to be valued at ~ US$ 1 Bn in 2019, projecting a CAGR of ~ 5% during the period of 2019-2029. The growth of the IBC rental business is remarkably driven by increasing demand from small to middle-scale chemical companies.

The IBC rental business is expected to witness a steady growth rate in the foreseeable future, owing to the growth of the global chemical industry. In addition, continued urbanization in the developing economies of South and East Asia has increased the demand for chemical which is expected to directly impact the growth of the IBC rental business.

Europe to Remain as Dominating Market Region throughout the Forecast Period

The IBC rental business is closely related to the export activities and manufacturing of chemical and value-added products of different countries. The domestic production of end user in different regions are estimated to be a key factor in analyzing the leading end-use industries for the IBC rental services. Europe is expected to dominate the regional market in terms of demand, owing to its established export business. In 2018, Europe contributed nearly 40% of the total global export of chemical products. The Benelux and Germany are estimated to account cumulatively 1/3 of market share in the European IBC rental business. South Asia is anticipated to witness a fast-paced growth, owing to government policies to increase the export of chemical products from ASEAN regions and India.

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Temperature-controlled IBCs to Gain Traction in Coming Years

The global market of IBC rental business has been segmented in terms of material type, product type, content, capacity, end use, and regions. The regions are segmented into North America, Latin America, Europe, East Asia, South Asia, and Middle East & Africa.

• By product type, carbon steel IBC is generally preferred in the IBC rental business. In terms of value, stainless steel IBC is estimated to be the leading product in the market. The reusability and secure handling of hazardous and flammable products are critical features, due to which steel IBCs are highly used in IBC rental business.
• By content, shipping and storing of liquid are the main applications of rental IBCs. The higher safety, filling, and dispensing offered by IBCs are expected to prove itself as great packaging formant for industrial products packaging.
• By capacity type, the IBCs with the capacity of 1,001-1,500 liters are estimated to be prominent in the global IBC rental business, owing to the specific standard size mentioned by regulatory authorities.
• By end use, the industrial chemicals segment is leading for IBC rental business. The food & beverages segment is projected to be an emerging segment for IBC rental business, due to estimated increment in export volume based on previous five-year trade.

IBC Rental Business: Market Vendor Insights

The report highlights some of the market players, who have recognized themselves as leaders in the global IBC rental business. Some of the global key players in the IBC rental business profiled in report are Good Pack Ltd., Hoover Ferguson Group, Arlington Packaging (Rental) Limited, Precision IBC, Inc., Hoyer Group, Metano IBC Services, Inc., CMO Enterprises, Inc., Mitchell Container Services, Inc., Global Packaging Services (GPS), Brambles Limited, Envirotainer AB, Americold, HCS (Hawman Container Services), SCHÄFER WERKE GmbH, and TPS Rental Systems.

Some of the IBC manufacturers are also showing interest to enter in IBC rental business owing to high-profit opportunity in renting, cleaning, and maintaining services of IBCs. It will show remarkable increment in the volume of rental IBCs in the global fleet.

A new market research report by Future Market Insights on the self-adhesive tear tapes market includes global industry analysis 2014–2021 and opportunity assessment 2022–2029. The report scrutinizes the self-adhesive tear tapes market and provides critical insights for the forecast period of 2022-2029.

As per the findings of the report, the global self-adhesive tear tapes market is projected to experience significant growth during the forecast period, owing to driving factors such as easy and convenient opening of the packaged products and temper evident packaging.

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Self-adhesive tear tapes are designed to use as an easy opening for packaging applications. These can be used to remove the top of the pack, to form a lid, or in applications where a heavy duty opening system is required. These provide tamper evidence, indicating packaging is intact.

These are effectively used in overwraps, shrink sleeves, flow packs, and blister packs, among others, for products in different end-use industries such as tobacco, food, pharmaceuticals, personal care, cosmetics, etc.

“Polypropylene is expected to be the most preferred choice of material for the manufacturing of self-adhesive tear tapes, as their properties align with the current requirements of the packaging sector. Further, the acrylic adhesive technology in PP tapes is likely to replace traditional techniques including spray adhesives and more.”

Tier-1 Players to Hold Prominent Market Share in the Global Market

Europe region is anticipated to witness a significant chunk of the total market share owing to the presence of well-established market players operating in the such as Essentra Plc, Tann Germany GmbH, and tesa SE, among others.

However, the presence of many local and unorganized market players in the Asian countries such as China and ASEAN countries are emerging and are expected to contribute significantly in the global self-adhesive tear tapes market.

Food Industry to Fillip the Demand for Self-adhesive Tear Tapes

The global market for self-adhesive tear tapes has been segmented based on the width of self-adhesive tear tapes, material, various end-use industries, and regions such as North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa.

• By width, the self-adhesive tear tapes market has been segmented into: Up to 2.5 mm, 2.6 mm to 5.0 mm, and above 5.0 mm. 2.6 mm to 5.0 mm is estimated to hold prominent market value share in the global self-adhesive tear tapes market due to standardized application in the tobacco packaging industry.
• On the basis of material, polypropylene is the preferred material in manufacturing self-adhesive tear tapes, with MOPP sub-segment expected to account for ~ 2/5 of the total market share by polypropylene segment during the forecast period.
• Based on end use, the global self-adhesive tear tapes market has been segmented as: food, tobacco, pharmaceutical, personal care & cosmetics, electrical & electronics, and other industries including agriculture. The food & beverages end-use segment is projected to expand at an above average value CAGR during the forecast period.
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Self-adhesive Tear Tapes Market: Vendor Insights

The report highlights some of the prominent market players, who have established themselves as market leaders in the global self-adhesive tear tapes market.

The key players in the global self-adhesive tear tapes market are DS Smith Plc., Bagla Group, H.B. Fuller Company, 3M Company, tesa SE, Wavelock Advanced Technology Co., Ltd, Marotech Inc., Tann Germany GmbH, Essentra Plc., NADCO Tapes & Labels, Inc., Uyumplast Ambalaj San.tic.ltd.Şti, NOWOFOL Kunststoffprodukte GmbH & Co. KG, AEC Group, and Western Paper Industries (Pvt) Ltd.

The global self-adhesive tear tapes market is significantly consolidated with tier-1 players operating in the global self-adhesive tear tapes market such as Essentra Plc, Tann Germany GmbH, and 3M Company holding a prominent share of the market. There are relatively less number of manufacturers operating in the self-adhesive tear tapes market.

The global demand for steel drums & IBCs accounted for revenues equating US$ 16.3 Bn in 2022; FMI’s new study estimates growth to hover at 4% mark during the next decade. Increasing global trade and growing proclivity to invest in efficient transportation are supporting market growth, according to the authors of the report.

Increasing focus on achieving cost-effectiveness in logistics, along with growing transportation of hazardous and non-hazardous materials have brought steel drums and IBCs at the center stage. Moreover, as steel drums & IBCs are considered as one of the safest forms of packaging for dangerous goods such as chemicals, demand has remained steady over the years. The market is likely to be influenced by reusability that results in cost-savings in reverse logistics and traceability that enhances consumer services.

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Growing Demand for Steel Drums & IBCs in China

East Asian countries continue to offer significant opportunities for steel drums & IBC manufacturers. The demand for steel drums & IBCs in China, South Korea, and other East Asian countries is majorly driven by increased spending on trade activities and the growing demand for chemical packaging. The growing investments in increasing production facilities is likely to create significant growth opportunities for market players over the course of the forecast period.

In addition to East Asia, South Asia is likely to remain a lucrative region for the steel drums & IBCs market on account of the expansion of end-use industries which are likely to push the demand during the assessment period. Expanding cross-border trade witnessed across this region is expected to propel sales of steel drums & IBCs. Further, key investments in the European economies focused at IBC production by companies such as Mauser Packaging Solutions and Greif reflect the opportunities offered by the European economies.

Chemical Industry Remains the Largest Consumer

Major consumption of steel drums and IBCs is witnessed across the chemical sector. The chemical segments is expected to hold approximately 40% share in the global steel drums & IBCs market in 2022. The growing incidents of storage and transportation of hazardous chemicals is expected to support this consumption as steel drums & IBCs are perceived to be safe packaging solutions for such goods. As chemicals pose health risks on leakage and leach, the demand for packaging solutions that prevent exposure to external environment continues to rise, driving steel drums & IBCs’ demand. Another factor supporting the growing consumption of steel drums & IBCs for chemical packaging is the increasing inclination towards sustainable packaging solutions, considering the negative environmental impact of plastic which has been previously used for chemical storage and transport owing to its higher safety standards.

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Companies operating in the steel drums & IBCs market focus on maximizing the production on account of the constant demand growth from the chemical and petroleum and lubricants. Apart from these sectors, newer solutions are also being designed to address the requirements of the food processing and pharmaceutical sectors which include exceptional performance, enhanced handling and labor savings. Moreover, manufacturers continue to emphasize production of customized solutions that are designed to meet specific end-use requirements. Leading manufacturers of steel drums & IBCs are likely to consider expansion of global footprint through acquisitions or collaborations with regional providers.