The revenue share of the brown gummed tape segment is expected to experience a gain of 150 basis point by 2027. Revenue contribution of the brown gummed tape segment is expected to increase at a CAGR of 5.7% over the forecast period.
Albany, NY -- (SBWIRE) -- 09/26/2017 -- The global gummed tapes market is projected to witness steady growth during the period 2017-2027, according to a new report added to the database of Market Research Reports Search Engine (MRRSE). The report titled, "Gummed Tapes Market: Global Industry Analysis and Opportunity Assessment 2017-2027" projects global demand for gummed tapes to surpass 1,600 Mn Sq. m by 2027.
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The demand for gummed tapes is impacted by the push of corporations towards sustainability and eco-conservation. Currently, self-adhesive tapes are widely used in the packaging sector, which highly adds to the total waste produced in a country or region. In contrast, using gummed tapes is a feasible solution, as the quantity used to seal a carton using these tapes is relatively lesser as compared to self-adhesive tapes. However, it is also worthwhile to mention that manufacturers have other effective options available including pressure sensitive tapes and Bopp tapes. These tapes also offer the same features and advantages as gummed tapes. Owing to availability of these alternatives, demand for gummed tapes is impacted.
On the basis of material, the gummed tapes available in the market include fibre-reinforced and paper. Among these, the demand for former is higher, while paper gummed tapes are projected to witness slow growth during the forecast period. Demand for fibre-reinforced gummed tapes is projected to surpass 1000 Mn sq. m by 2027, growing at over 5% CAGR during the forecast period. By product type, brown gummed tapes remain sought-after, and the trend is anticipated to continue during the forecast period.
The key application areas of gummed tapes include box & carton sealing and splicing. Currently, box & carton sealing remains the leading application, and it is projected that demand from this application segment will surpass 1,500 Mn sq. m by the end of 2027.
In terms of end-users, the key segments include shipping & logistics, industrial, and consumer goods. Among these, demand for use of gummed tapes in shipping & logistics sector is projected to witness steady growth over the forecast period.
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Asia Pacific excluding Japan (APEJ) is one of the most lucrative markets for gummed tapes globally. According to the report, the market in APEJ will grow at the fastest pace during the forecast period. Demand for gummed tapes in APEJ is expected to reach 600 Mn sq. m by 2027. Other markets, specifically North America and MEA are also anticipated to offer growth opportunities to manufacturers during the forecast period.
The leading players in the global gummed tapes market include 3M Company, Holland Manufacturing Co. Inc.., Papertec, Inc., LPS Industries LLC, NITTO DENKO CORPORATION ADH TAPE, Neubronner GmbH & Co.,Shurtape Technologies LLC, Hade Heinrich Dorseifer KG Abco Kovex, Intertape Polymer Group. Inc Loytape Industries SDN.BHD., Windmill Tapes & Labels Ltd., Maxfel S.R.l, STA LLC., Waterproof Corporation Private Limited, Green Packaging Group, Tesglo Pte. Ltd., Guangdong Yue Hui Polytron Technologies lnc, and Packsize.
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