From 2021 to 2031, the gummed tapes market is anticipated to increase at a compound annual growth rate (CAGR) of almost 6.2%. A new estimate states that between 2021 and 2031, sales of gummed tapes are expected to nearly treble.
The market for gummed tapes is anticipated to expand significantly throughout the projected period (2021–2031). Gummed tapes, also referred to as water-activated tapes, are sticky tapes that are utilised in a variety of packaging applications.
The rising need for these tapes in the packaging sector is one of the major drivers of the gummed tapes market’s expansion. Due to their powerful adhesive properties and ability to ensure that the containers stay sealed during transit and storage, gummed tapes are frequently employed in the packaging of food, beverages, and other consumer goods.
Request Sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-2821
The expanding use of gummed tapes in online shopping and e-commerce is another factor fueling market expansion. The demand for packing materials that can guarantee the safe and secure delivery of goods has increased as a result of the growth of e-commerce and online shopping. Gummed tapes are ideal for this use because they offer a robust seal that is difficult to tamper with and is tamper obvious.
Based on kind, use, and region, the gummed tapes market is divided. The market is divided into different types based on type, including polypropylene water-activated tapes, paper gummed tapes, and others. The most popular kind of tapes are paper gummed tapes since they are inexpensive and environmentally friendly.
The market is divided into packaging, construction, and other categories based on application. Due to the rising demand for packaged foods and beverages, the growth of e-commerce, and the increase of online retailing, the packaging industry is the largest end-user of gummed tapes.
The gummed tapes market is divided into four geographic regions: North America, Europe, Asia-Pacific, and LAMEA. Due to the rising need for gummed tapes in the packaging industry in nations like China and India, Asia-Pacific is anticipated to have the quickest growth.
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.
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.
Request Discount @ https://www.futuremarketinsights.com/request-discount/rep-gb-2821
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.
Key Insights oF The Report
• Key Trends in the gummed tapes market
• New Advancements in Production Technologies
• New Product Launches, Expansions of gummed tapes market
“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
