Tape Dispenser Market is expected to reach US$ 7.3 Bn by 2030, expanding at a CAGR of 4.4%
The development of technologically advanced tape dispensers and the desire for them over traditional tape dispensers for packaging solutions globally are expected to have a significant impact on the expansion of the tape dispenser market.
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Demand Analysis for Tape Dispensers (2015-2021) Compared to Market Prospects (2022 to 2030)
The market for tape dispensers is anticipated to grow at a CAGR of 4.4% from 2022 to 2030, driven by rising end-user demand for secured packaging and sealing. Offices, businesses, and industries are paying increasing attention to tape dispensers. However, there is a noticeable rise in the popularity of handheld tape dispensers in commercials and offices.
Therefore, this segment is expected to hold more than 57% value share in the global market in the next decade. Automatic tape dispenser segment is expected to expand at a CAGR of 4.3% by 2030, attributing to ease of use and fast-paced packaging operations.
Besides, end-users have maximum preference for such dispensers to minimize wastage caused due to human errors. Table top tape dispensers are most commonly used as compared to the other product types in the tape dispenser market. Two fold investments by the key players in research & development activities for developing convenient and tailor-made solutions of tape dispensing system are expected to leverage growth of tape dispensers during the forecast period.
How has COVID-19 impacted the Tape Dispenser Market?
COVID-19 is calling for protective and hygienic packaging solutions. To ensure maximum product safety, end-users are opting for automatic tape dispensers, so that minimum human and product contact could be maintained during packaging activities amid COVID-19. Therefore, the global tapes dispenser market is expected to clock a CAGR of nearly 4% during next ten years, amid COVID-19.
On the flip side, frequent lockdowns and scarcity of raw material reduced the profit margins of the key players in 2020-21. Besides, less-efficient transport facilities reduced further gain in the international tape dispenser market. Therefore, the market growth witnessed a negative growth of 0.2% in 2020-2021. However, with the strategic planning of the manufacturers in collaboration with government authorities, this market is expected to register peak y-o-y of 5.3% in the next ten years.
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The Tape Dispenser market holds the distinction of being driven by tier-3 players. They hold more than 75% of the market share. Everything, right from product launches, acquisitions, and collaborations is being tried out. AI is also being tried out.
3M Company does market Scotch and Tartan Manual Tape Dispensers. These hand-held dispensers come in HR933, H150, and HR80 versions. The advantages offered by these devices are being lightweight and proper pistol-grip, along with retractable blades and pressure bars for reducing noise.
Intertape Polymer Group Inc. has its Smart Tape solution that adopts the latest security technologies for preventing cargo theft, and product diversion and proliferation.
Key Companies Profiled
Intertape Polymer Group Inc.
Shurtape Technologies LLC
Prisma Pressure Sensitive Products Ltd.
Spec-Tech (Xiamen) Co. Ltd.
Aroindia Electromech Pvt. Ltd.
Excel Factory Inc.
Key Segments Covered in Tape Dispenser Industry Research
Tape Dispenser Market by Product Type
Definite Length Dispenser
Stretchable Tape Dispenser
Tape Dispenser Market by Technology
Tape Dispenser Market by End-use
Office & Commercial
Tape Dispenser Market by Region
North America Tape Dispenser Market
Latin America Tape Dispenser Market
Europe Tape Dispenser Market
East Asia Tape Dispenser Market
South Asia Tape Dispenser Market
Oceania Tape Dispenser Market
Middle East & Africa (MEA) Tape Dispenser Market
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