Technavio Announces the Publication of its Research Report Global Packaging Tapes Market 2016-2020
Technavio recognizes the following companies as the key players in the global packaging tapes market: 3M, Avery Dennison, Henkel, Nitto Denko, and Tesa.
Other Prominent Vendors in the market are: Advance Tapes International, Adhesives Research, Bostik, Dow Corning, Evans Adhesive, Franklin International, H.B. Fuller, Intertape Polymer, Lintec, Lohmann, LORD, MACtac, Hexion, Nova Films and Foils, Powerband, Royal Adhesives & Sealants, RPM International, Scapa, and Shurtape Technologies.
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Commenting on the report, an analyst from Technavios team said: Growing demand for printed packaging tapes will be a key trend for market growth. With growing demand from the packaging industry, the printed packaging tapes market is growing. Printed packaging tapes are in high demand because of the need to differentiate products for easy identification and marketing purposes. The printed packaging tapes market was valued at approximately $23 billion in 2015 and is expected to grow at a CAGR of around 6% during the forecast period.
According to the report, use of multiple packaging tapes in diverse industries will be a key driver for market growth. One of the main factors that affects the market positively is the growing demand for packaging tapes in a variety of applications. An increase in the availability of innovative designs and materials used in the packaging tapes market has increased the use or application of packaging tapes in various industries. Industries such as automotive, retail packaging, food and beverage, and e-commerce are putting packaging tapes to multiple uses. The demand for high-quality tapes such as filament tapes is increasing in the automotive industry.
Further, the report states that the production techniques involved in the manufacture of plastic tapes right from the procurement of raw materials to the production of end-products have a bearing on the carbon footprint. This poses a major challenge for vendors in the market because of growing concerns regarding resource depletion, increase in harmful emissions, and stricter regulations for climate change mitigation, such as the signing of the Paris Agreement by 195 member states of the UN Framework Convention on Climate Change in December, 2015.This agreement is a universal agreement that aims to limit the rise in global temperature to below 35.6°F in this century, and further makes efforts to limit the rise to 34.7°F. Such measures have a positive impact on technologies such as CCGTs that have the potential to reduce pollutants and emissions from power plants as well as improve efficiency in power production.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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About Packaging Tapes
Packaging tapes are a type of adhesive tapes. The global packaging tapes market accounted for a share of 65.97% of the global adhesive tapes market in 2015. There are different kinds of packaging tapes available in the market.
Technavios analysts forecast the global packaging tapes market to grow at a CAGR of 5.34% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global packaging tapes market for 2016-2020. To calculate the market size, the report considers the volume of packaging tapes manufactured for different industries such as automotive packaging, retail ready packaging, food and beverage packaging, e-commerce packaging, and others.
The market is divided into the following segments based on geography:
Technavio’s report, Global Packaging Tapes Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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