Market Research Report
Global Paper Tape Market - 2021-2028
|Global Paper Tape Market - 2021-2028|
Published: October 11, 2021
Content info: 180 Pages
Delivery time: 2 business days
The global Paper Tape market size was worth US$ YY million in 2020 and is estimated to reach US$ YY million by 2028, growing at a CAGR of YY % during the forecast period (2021-2028).
Paper tape is a sequential data storage medium that was employed in early communications and computing systems. It is sluggish, has a low capacity and is sequential. The data is stored on the paper tape as punched hole patterns, with data represented by the lack or presence of holes at certain locations.
Special tape reading and writing systems were used to write and store the data. It was widely used for teleprinter communication in the early twentieth century and the computing world in the 1950s and 1960s. Paper tape is no longer widely used. Perforated paper tape is another name for paper tape.
Various applications across various industries drive the global paper tapes market. For instance, rising demand for surgical paper tapes in healthcare and pharmaceutical sectors will aid the expansion of the market and its new outdoor applications.
The automotive industry has been steadily expanding. One of the primary drivers enabling growth in this sector is customers' increased interest in automotive modification. Paper tapes are used in a variety of ways to customize a vehicle. Masking, spray painting, varnishing, sealing and other techniques are among them. After surface painting, these tapes provide exceptional surface protection and a clean paint line. Surface protection has aided the car industry's expansion. The increased demand for masking tapes in this industry is expected to boost the market's growth.
A major development driver has been demand from the logistics and retail sectors. Previously, plastic tapes were utilized in these industries, but as people become more aware of the dangers that plastic waste poses to the environment, paper tapes are becoming more popular. Paper tapes are also considered more environmentally friendly for outdoor applications, which has aided the market's growth in the construction and logistics industries. Paper tapes are frequently utilized during paint projects to achieve the greatest precision, especially at sharp edges.
The Covid-19 problem is unprecedented and it is currently unfolding daily. The downturn in end-use industries such as logistics, building and construction and automotive has created issues across many industries and led to a reduction in demand for paper tapes. Furthermore, due to delays in raw material deliveries, the slowdown in the paper industry had a direct influence on the manufacture of paper tapes. Transportation restrictions imposed during the early stages of Covid-19 resulted in a lack of raw materials, hurting production across numerous industries and, as a result, a drop in demand for paper tapes.
By Product, the paper tape market is classified into masking tape, packaging tape and others.
The global paper tape market is likely to be dominated by masking tape.
The masking tape segment is expected to maintain its dominance in terms of product type during the projection period. Growth in this section of the market is enabled by the expansion of the building and construction sector. Masking tapes are generally used in the construction industry for painting. Masking tapes are also being used during painting, dent repairs and other vehicle manufacturing and repair activities, offering new growth potential.
By adhesive, the paper tape market is classified into rubber-based adhesive, acrylic-based adhesive and silicon-based adhesive.
The rubber-based adhesive sector has the largest market share in terms of adhesive type. Rubber-based adhesives are the most popular adhesive type because of their ability to stick quickly to various surfaces and their ease of removal. The automobile industry's rise, which is increasingly using these tapes in place of mechanical fasteners to reduce vehicle weight, is one of the primary drivers of the rubber-based adhesive segment.
By application, the paper tape market comprises five categories: masking, labeling, packaging, sealing and others.
The packaging segment leads the market in terms of application. The segment's growth is expected to continue during the forecast period, owing to the rising demand for protective eco-friendly packaging solutions across a variety of end-use sectors. Following packing, the sealing and bundling industries are expected to increase significantly throughout the projected period.
North America, led by the United States, ranks second in market share in the worldwide paper tapes market. North America dominates the healthcare business. As a result, the region's growth is fueled by the region's expanding need for paper tapes in the healthcare business. The building industry in the region is growing at a steady pace, increasing the demand for paper tapes.
Governments in the region are continually launching aeronautical initiatives. For example, the Solar Orbiter project is a next-generation solar-observing satellite that will provide unprecedented data of the solar system and images of the sun's poles while researching the heliosphere.
The worldwide Paper Tape market is highly consolidated. Key players operating in the global market for Paper Tape include 3M Company, Intertape Polymer Group Inc., Berry Global Inc., Shurtape Technologies, LLC, Atlas Tapes S.A., Advance Tapes International, Alpha Packaging, Inc, O.Berk Company, LLC, C.L. Smith, Aaron Packaging Inc. and Bolex.
The global paper tape report would provide access to an approx. 65 market data table, 63 figures and 180 pages.