Use of use of printed tapes to increase for message printing to ensure the safe handling of different goods in transit, says Fact.MR report.
/EIN News/ — Rockville, Jan. 19, 2023 (GLOBE NEWSWIRE) — Worldwide sales of printed tapes are forecasted to accelerate at a CAGR of 7.6% from 2023 to 2033, as per a new industry analysis conducted by Fact.MR, a market research and competitive intelligence provider. As such, the global printed tapes market is estimated to reach a valuation of US$ 74.5 billion by the end of 2033.
Printed tapes are helpful to spotlight logos, products, or companies. These are hot melt and are also used as an efficient alternative for printed cartons which are further predicted to contribute to market opportunities. Printed tapes come with the fast adhesive strength of artificial rubber even at low temperatures compared to other adhesives, such as acrylic adhesives. Furthermore, they are more resistant to UV radiation and aging. Sellers can feel protected towards their respective products owing to professional design assistance, quality checks, and alignments provide by these tapes at every step. These tapes are applied to avoid black marketing.
Furthermore, printed tapes are also used to reduce cartoon printing due to their economical price. Increasing interest of companies in printed tapes for packaging is projected to enhance the overall demand for these products over the coming years. The use of printed tapes also assists in printing messages to ensure the appropriate handling of goods in transit. This further increases the confidence of consumers and thus the market is gaining impetuses. Furthermore, the rising use of various technologies for some specific printing requirements along with the application of high-strength polymer tapes are predicted to contribute to generating new growth opportunities in the industry.
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The market in the Asia Pacific region is anticipated to grow at a noticeable rate during the forecast period due to the growing demand for printed adhesive tapes from different applications such as die packaging, branding, and others.
On the flip side, in recent years, there has been a noteworthy increase in environmental concerns with the use of plastic tapes, which is estimated to create hurdles for new entrants in the global market. Different operations that are used to manufacture plastic and paper or pulp tape products are releasing a lot of components into the environment that can pollute air and water. Even for the production of non-decomposable plastic tapes, numerous harsh compounds are generated, which can adversely impact market growth.
Key Takeaways from Market Study
- The global printed tapes market is estimated to reach a valuation of US$ 74.5 billion by the end of 2033.
- Sales of printed tapestry in Canada are predicted to increase at a CAGR of 6.2% through 2033.
- The current value of the global printed tapes market is US$ 35.5 billion.
- The expected CAGR for the market is 7.6% through 2033.
- The U.S. market accounted for US$ 7.9 billion in the year 2022.
“Rising requirement for printed tapes in food & beverage applications for packaging, promotion, and branding activities are anticipated to drive market growth,” mentions a Fact.MR analyst.
Segmentation of Printed Tapes Industry Research
By Type :
- Polyvinyl Chloride
- Other Raw Materials
By Application :
- Food & Beverages
- Consumer Durables
- Transportation & Logistics
By Printing Ink :
- UV Curable
By Region :
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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Research & development, acquisitions, and technology launches are some key strategies that are adopted by industry players in the global printed tapes industry.
- 3M in October 2019 acquired Acelity, Inc. along with its KCI subsidiaries around the world with a significant value. Acelity is a prominent global company that is leading in medical technology and concentrating on specialty surgical applications and advanced wound care marketed under the brand, KCI.
Key Companies Profiled
- ADH Tape
- Windmill Tapes
- BSK Print
- Kilby Packaging
- Packit Packaging Solutions
- Shurtape Technologies LLC
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global printed tapes market for the period of 2023-2033.
The study divulges essential insights into the market on the basis of type (polypropylene, polyvinyl chloride, other raw materials), application (food & beverages, consumer durables, transportation & logistics, others), and printing ink (water-based, solvent-based, UV curable), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).
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