Product Overview
The strapping tapes are used by the various manufacturing industries such as food and beverage, automotive and other industries for the packaging of the heavy boxes and bundling of the unpacked products. The main purpose of using strapping tapes is that it keeps it safe from the external damages. These tapes are suitable for the palletizing, uniting, packaging and color coding. It is also a pressure sensitive tape that is used for packaging of the corrugated fiberboard boxes. Various companies are increasing the development of the innovative strapping tapes which has enhanced features in order to cater to the increasing demand for the strappings tapes.
Market Size and Forecast
The increasing demand for the better packaging materials coupled with the rising innovation in the field of strapping tapes is anticipated to boost the growth of the global strapping tapes market during the forecast period.The global strapping tapes market can be segmented on the basis of adhesive, material, end-user and region. On the adhesive, it is sub-segmented into natural rubber and synthetic rubber. Natural rubber is anticipated to be major sub-segment during the forecast period. The cost effective property of the natural rubber coupled with high tensile strength is anticipated to be the major reason fostering the growth of the sub-segment during the forecast period. On the basis of material, it is sub-segmented into polyester, polypropylene, polyethylene and others. Polyethylene sub-segment is anticipated to be the major sub-segment during the forecast period. The various properties of the polyethylene such as high flexibility, durability and tear resistant is anticipated to be the major reason for the growth of the sub-segment during the forecast period. On the basis of end-user, it is sub-segmented into electronics, kitchen appliances, food & beverages, automotive, furniture and oil & gas.
“3M Company produces the ideal strapping tapes which has enforcements of tensilized polypropylene and also has variety of tensile strength and adhesives types”
By region, global strapping tapes market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. Asia-Pacific is anticipated to hold the largest market share for the global strapping tapes market during the forecast period. The increasing industrialization in the region leads to the expansion of the industries such as food & beverages, automotive and electronics. This is anticipated to boost the growth of the global strapping tapes market in the region. Additionally, low cost of manufacturing and labor in the region is also another reason for the growth of the global strapping tapes market in the region. North America is anticipated to showcase substantial growth for the global strapping tapes market. The high disposable income of the population in the region is increasing spending of the population towards luxurious and aesthetic packaging materials. This is anticipated to boost the growth of the global strapping tapes market. For instance, according to U.S. Bureau of Labor Statistics the total average income of the people of US in USD 73,573 in which USD 7,729 is spent towards food and beverage in 2017.
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Market Segmentation
Our in-depth analysis segmented the global strapping tapes market in the following segments:
By Adhesive:
- Natural rubber
- Synthetic rubber
By Material:
- Polyester
- Polypropylene
- Polyethylene
- Others
By End-User:
- Electronics
- Kitchen appliances
- Food & Beverages
- Automotive
- Furniture
- Oil & gas
By Region
Global strapping tapes market is further classified on the basis of region as follows:
- North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Growth Drivers and Challenges
The increasing expansion of the automotive industry across the globe is anticipated to be the major reason driving the growth of the global strapping tapes market during the forecast period. The various properties of the strapping tapes such as suitability and multi functionality is anticipated to be major factor supporting the growth of the global strapping tapes market during the forecast period. Additionally, the increasing application of the strapping tapes for wrapping of the sports equipment is anticipated to further drive the global strapping tapes market.
The high cost of the strapping tapes coupled with the development of the alternative products is anticipated to restrain the growth of the global strapping tapes market during the forecast period.
Top Featured Companies Dominating The Market
- 3M
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- TART
- Global Packaging, Inc.
- Rapid Packaging Systems Ltd.
- Müroll GmbH
- Shurtape Technologies, LLC
- Can-Do National Tape
