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Global Gummed Tapes Market to reach US$ 1.9 Bn by 2031 – FMI
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The global gummed tapes market is set to reach $1.9 Bn by 2031, driven by demand in shipping, logistics, and eco-friendly packaging.
The global gummed tapes market is estimated to expand at 6.2% CAGR between 2021 and 2031, find Future Market Insights (FMI). These tapes are most preferred for sealing heavy equipment, furniture, and other bulky items to reduce the risk of damage during the transportation of the products.
Sales of these tapes are expected to burgeon on the back of surging application in various end-use industries such as food & beverages, electricals & electronics, printing, and others. The excellent bond forming ability, resulting into better sticking and gluing properties of gummed tapes will also fuel the demand.
These tapes perform well in the normal temperature ranges once applied to the corrugated box. They also provide ease and convenience to seal the box with the highest level of safety and security to the box and also can be easily opened without the use of cutting tools.
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On the back of such aforementioned factors, the global gummed tapes market is projected to surpass US$ 1.9 Bn by the end of 2031.
Key Takeaways:
“Increasing need for enhanced product safety and improved package sealing solutions across shipping & logistics, electrical & electronics, and building & construction industries is propelling the demand for gummed tapes. Expansion of aforementioned end-use industries in East Asia is expected to create growth opportunities for market players.” says an FMI analyst.
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Elimination Of The Gluing Step To Fuel The Sales Of Gummed Tapes
The tapes applied with glue have the risk of falling off from the product or container as the temperature or weather conditions changes. Therefore, this not only leads to the defect in the sticking but also affects the product safety by increasing the risk of product damage during the transportation process.
Use of gummed tapes eliminates the gluing step and thereby makes the sticking and tape application process easy. This also saves time along with the better sticking and adhesion properties as compared to the traditional tapes.
Sustainability Concerns To Encourage Gummed Taped Demand
Gummed paper tapes are made using the natural paper and are much easier to use as compared to the plastic packaging tapes. Due to mono materials, these tapes are easy to recycle along with waste carton boxes and therefore reduces recycling challenges over multi material packaging formats.
Unlike the traditional tapes, the gummed tapes do not need an additional synthetic adhesive for the sealing process and thereby proves an eco-friendly sealing option for the variety of end-user industries. This is expected to burgeon the sales of gummed tapes.
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Competitive Landscape
3M Company, Intertape Polymer Group Inc., Shurtape Technologies LLC, Holland Manufacturing Co., Inc., Loytape Industries Sdn Bhd, Papertec Inc., LPS Industries LLC, Windmill Tapes & Labels Ltd., Neubronner GmbH & Co., KG, Maxfel Srl, Can-Do National Tape, Suzhou Tongxie Adhesive Tape Co., Ibergum S.A., and Waterproof Corporation Pvt. Ltd. are key players operating in the global gummed tapes market.
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The article discusses the growth and future projections of the global gummed tapes market.
Increased demand in shipping, logistics, and eco-friendly packaging solutions are key drivers.
North America, Europe, and East Asia are projected to hold significant market shares.
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