Market Research Report
Carton Sealing Adhesive Tape Market - Forecasts from 2022 to 2027
|Carton Sealing Adhesive Tape Market - Forecasts from 2022 to 2027|
Published: April 4, 2022
Knowledge Sourcing Intelligence
Content info: 125 Pages
Delivery time: 1-2 business days
The carton sealing adhesive tape market is evaluated at US$30.749 billion for the year 2020 and is growing at a CAGR of 6.11% to reach a market size of US$46.582 billion by the year 2027.
Adhesives are synthetic compounds that are used to adhere to things. These are the materials that are utilized to firmly hold two surfaces together for an extended period. The carton sealing tapes are, as the name implies, tapes that are used to pack cartons. Carton sealing or packaging tapes are pressure-sensitive tapes composed of a pressure-sensitive adhesive placed on a backing material (typically polypropylene or polyester film) and fibreglass filaments. There is a large selection of carton sealing tapes available on the market, which can be purchased both online and offline.
The safety of single parcel shipments has become an important concern for companies in the e-commerce business since so many consumer goods are shipped in single parcel shipments. As a result, these tapes are an ideal choice for such players, assuring good package sealability and closure. The value of the carton sealing tape market is increasing as wholesalers and distributors require more packaged food and beverage items in bulk. Increased demand for water-activated carton sealing tapes for commercial and industrial applications, as well as the growth and expansion of the food and beverage industries, will boost the market value of carton sealing tapes. Other indirect factors driving the carton sealing tape market growth rate include the growth and expansion of the e-commerce industry, particularly in developing economies, the rise in consumer preferences for retail formats, the ever-increasing global population, and increasing personal disposable income. In the long run, rising consumer demand will also provide growth opportunities.
Due to its qualities, such as sealing hefty cartons and bundles of unpacked products that are used for transporting, shipping, and distribution in the e-commerce business, easy-to-use carton sealing is the right answer owing to its versatility. As a result, the usage of sealing and strapping packing tapes increased as the e-commerce business accelerated. According to data given by export.gov, there were 19.8 million e-commerce users in Canada in 2018, and an additional 5.21 million people are predicted to buy online by 2021.
Variations in the pricing and raw material availability, on the other hand, may slow the growth rate of the carton sealing tape market. Recycling is a difficult and time-consuming operation, which will slow the growth of the carton sealing tape industry. The carton sealing tape market's development pace will be slowed by rising environmental issues and rigorous rules governing the usage of plastic.
Because of its qualities such as water resistance, high flexibility, high abrasion, and others, the polypropylene sector is expected to contribute the most revenue share contribution in the target market in the approaching years. The rubber-based adhesive sector is expected to increase at the fastest rate in the prospective market.
Due to increased demand from the e-commerce industry for the packaging of various shipments, the carton sealing segment is expected to account for considerable revenue growth in the target market in the coming years.
The carton packaging adhesive tape market is expected to be dominated by the Asia-Pacific market, which is expected to hold the greatest share in terms of value. The region's growing logistics business, combined with an increase in online shopping, is likely to expand the use of sealing-strapping packaging tapes in the region. According to the National Development and Reform Commission (NDRC), the total value of social logistics increased 5.9% year on year at constant prices to CNY 163.8 trillion in the January-July (2019) period (about USD 23.1 trillion). Furthermore, the value of industrial product logistics increased 5.8% year over year to CNY 148.5 trillion.
COVID-19 Impact on Carton Sealing Adhesive Tape Market
The carton sealing adhesive tape industry has experienced mixed impacts worldwide. Due to trade and transportation restrictions between countries, the upstream supply chain of carton sealing adhesives was damaged, since companies had difficulty obtaining raw materials such as glue and other chemicals from other companies. However, a drastic increase in end-user demand in some applications has significantly expanded the scope of this paper packaging. Some of the key drivers of the examined market that arose from the COVID-19 epidemic include an increase in food packaging and an ever-increasing need for corrugated packaging in growing e-commerce shipments. Packaging of groceries, healthcare supplies, and e-commerce shipments has seen a substantial surge in demand on e-commerce platforms.
Kite Packaging introduced four new machine tapes in August 2019 that are available in two widths: 48mm and 75mm. The company also debuted a new Kite low-noise solvent tape and a vinyl tape, both of which are less expensive than the company's prior low noise and vinyl tapes and are branded with the Kite logo.
Monta launched a new self-adhesive tape, the Monta bio pack, in February 2020. Monta bio pack is a sustainable self-adhesive tape made up of a bio-based film and a natural rubber adhesive made up of mostly renewable primary resources.
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