Printed Tapes Market Garners Traction as Demand in F&B Sector Soars

Market Scope

Market Research Future (MRFR) expects the printed tapes market to reach USD 12.6 billion by 2030. The market size will be expanding at a decent rate of 5.8% between 2022 and 2030.

Growth Boosters and Challenges

The heightened demand and use of printed tapes in food & beverage applications for promoting, packaging, and branding activities will bolster the market strength in the coming years. The provision of protection of content in transit combined with the easy classification enhances the demand for printed tapes. In addition, the rising use of cutting-edge technologies for certain printing needs and the extensive deployment of high-strength polymer tapes in various sectors will most likely benefit the worldwide market.
The printed tape market's highest penetration will be in the food & beverage sector, however the demand in the consumable durable sector as well. Their use for printing and packaging the logos and names of the brands will ensure relentless market expansion. The majority of the printer developers in the market, instead of printing technologies with heavy machinery, are now focusing on software-centric technologies. This has accelerated the multicolor printing on tapes with better quality. Additionally, the mounting deployment of digital technology that facilitates significant precision rapid printing, will favor the global industry as well.

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Segmental Review

Product type, material, technology, printing ink, and end-use are the key segments analyzed in the MRFR study.
Natural Rubber Carton Sealing Tape, Acrylic Carton Sealing Tape, and Hot Melt Carton Sealing Tape are the top product types covered in the study. The hot melt carton sealing tape market is currently in the lead, given its significant demand in diverse industrial applications worldwide.
Material-wise, the key segments are Polypropylene, Polyvinyl Chloride, and Polyethylene. Polypropylene is the top material-based segment in the market. Polypropylene films are extremely rigid and strong in addition to being versatile, and economic. They provide an impressive moisture barrier, clarity, temperature resistance, durability, gloss, aroma strength, embossability, processability, and dimensional stability.
 
Technologies are Flexography, Digital Printing, Screen Printing, and Lithography.
Depending on printing ink, the key segments are UV-Curable Ink, Water-Based Ink, and Solvent Based Ink.

The end-users of printed tapes are Transportation & logistics, Consumer Durables, Food & Beverages, and more. Food & beverages, transportation & logistics and consumer durables all generate considerable demand for printed tape. However, it is the food & beverage industry that would be securing the top spot in the worldwide market, on account of the escalating demand for innovative printing technologies, to improve the visibility of the products.

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Regional Insight

The Asia-Pacific market is predicted to hold the most considerable share, by value, and the growth in the Asian region can be primarily due to the collaboration of key players, high demand end-use industries, expansion of production capacity, and an upsurge in government investments. The Asia-Pacific market provides considerable opportunities for growth to the manufacturers and is foreseen to record the highest CAGR. Moreover, many global companies are constructing new facilities and preparing to expand, followed by technological advancements in the European region, which is expected to have a substantial market in the region. growing investment by numerous big players in developed and emerging countries around the world and rising demand from developing countries such as India and China are expected to generate substantial opportunities for manufacturers operating in the global printed tapes industry.

North America is expected to be the second-largest market in 2016. The growing demand in the packaging applications coupled with the ability of the new technologies to print intricate artwork is expected to be the key reason for the demand growth in the region. The U.S. is expected to account for the highest revenue share owing to the use in transportation & logistic application.
Middle East & African market is expected to witness substantial growth with high demand for polypropylene printed tapes as it offers high resistance to moisture and heat. In addition, the growing utilization of the tapes in food & beverage transportation is expected to have a positive impact on the growth over the next eight years.

Top Companies

ADH Tape, Nitto Denko Corporation, Tesa SE, Atlas Tapes S.A., Vibac Group S.p.a, 3M Company, Advance Tapes International, BOLEX, Berry Global Inc., Intertape Polymer Group Inc., Windmill Tapes, Shurtape Technologies LLC are the top contenders in the printed tapes industry.

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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR's approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and also about what action to take based on these aspects.

This release was published on openPR.