According to a recent report by Reports and Data, the global Printed Tape market is projected to reach USD 44.56 Billion by 2027. The increased demand for Printed Tape is primarily driven by the growing needs of the food and beverage industry for packaging, promotion, and branding purposes. Printed Tape offers material protection during transit and facilitates easy categorization, leading to its rising demand.
Printed Tape is widely used for printing logos, names, and packaging in various industries, resulting in increased market penetration. Manufacturers have transitioned to software-centric technologies, enabling the production of high-quality tapes with multicolor printing. Technological advancements have also led to rapid printing with high precision, contributing to the expansion of the market.
However, fluctuations in raw material prices and the high capital investment required for production equipment and components act as restraints for the Printed Tape market. Additionally, longer drying times for the tape during packaging processes hinder market growth.
The COVID-19 pandemic has impacted the Printed Tape market as industries, including food and beverage and consumer durables, have faced temporary shutdowns or reduced demand. Nevertheless, it is expected that as industries resume operations and manufacturers focus on innovation, the demand for Printed Tape will rebound, driving market growth.
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Key findings from the report include:
- Flexography is projected to grow at a CAGR of 6.0% due to its ability to be applied on non-absorbent substrates in a wide range of colors, although it may face limitations in printing intricate artwork.
- Printed Tapes are extensively used for hazard safety and barricading applications. Newer technologies allow for multicolor and dual-color tapes, aiding in denoting specific hazards and signals. Consequently, the demand for hazard safety applications and road marking is expected to increase during the forecast period.
- Natural Rubber Carton Sealing Tape is anticipated to grow at a rate of 5.6% owing to its flexible adhesive properties and high strength adhesion, even at low temperatures.
- North America held the third-largest market share (over 20.0%) in 2019, driven by packaging demand and advancements in intricate artwork printing, with the US being a significant contributor.
- Gravure printing held a substantial market share in 2019 due to its outstanding print quality, high printing speed, simple printing process, and flexibility in machine structures, making it popular among manufacturers.
Key participants in the Printed Tape market include 3M, Windmill Tapes, Bron Tapes, Kilby Packaging, Print-O-Tape, Fabo s.p.a., Supertape, Le Mark Group, Dalpo sp. z.o.o., and Shurtape Technologies, LLC, among others.
The global Printed Tape market is segmented based on product, technology, application, and region:
Product Outlook (Revenue, USD Billion; 2017-2027):
- Acrylic Carton Sealing Tape
- Hot Melt Carton Sealing Tape
- Natural Rubber Carton Sealing Tape
Technology Outlook (Revenue, USD Billion; 2017-2027):
- Gravure
- Screen Printing
- Digital Printing
- Lithography
- Flexography
- Others
Application Outlook (Revenue, USD Billion; 2017-2027):
- Food and Beverage
- Consumer Durables
- Transportation and Logistics
- Others
Regional Outlook (Revenue, USD Billion; 2017-2027):
- North America (U.S.)
- Europe (UK, France)
- Asia Pacific (China, India, Japan)
- MEA
- Latin America (Brazil)
Printed Tape Market: Drive factors
Factors driving the Printed Tape market include:
- Increasing demand from the food and beverage industry: The food and beverage industry requires Printed Tape for packaging, promoting, and branding activities. The need for attractive and informative packaging, coupled with branding initiatives, has led to a higher demand for Printed Tape in this sector.
- Material protection during transit: Printed Tape offers protection to materials during transportation. It helps secure packages and prevent damage or tampering. The assurance of safe transit and product integrity has contributed to the growing demand for Printed Tape.
- Hazard safety and barricading applications: Printed Tape is extensively utilized for hazard safety and barricading purposes. The availability of multicolor and dual-color tapes allows for denoting various types of dangers and signals in colors specific to the hazard. This has driven the demand for Printed Tape in hazard safety applications and road marking.
- Growing demand for innovative products: Continuous innovations in Printed Tape, including improved printing quality, design capabilities, and adhesive properties, have generated interest and demand for new products. Manufacturers strive to develop advanced tapes that cater to specific customer requirements, leading to an expanded market size.
It is important to note that these factors contribute to the growth of the Printed Tape market, but there may be additional factors specific to regional markets or industry segments that can also drive its expansion.
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