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Corrugated carton-sealing tapes will remain the most widely used tape type, accounting for over two-thirds of aggregate sales volume. Tapes will make further inroads at the expense of competitive carton-sealing media, such as glues and mechanical fasteners. Rising corrugated box sales will also bode favorably for packaging tape demand, although a slowdown in processed food and beverage output will limit potential gains.
The U.S. accounts for over one-fifth of global demand, although its share of the world market will continue to decline, as bedrock applications (such as corrugated shipping and paint masking) are now largely mature. The same can be said for other developed countries, including Western European nations, Japan, Canada, and Australia, where annual demand growth will be in the low single digits.
By contrast, there is ample room for additional market penetration in the world’s developing countries; India, China and Eastern Europe in particular are enjoying favorable prospects. China is expected to surpass the United States as the world’s largest tape user by the end of the decade, with gains driven by explosive economic growth, rising consumer incomes, swift development of tape-intensive industries, and greater availability of high-quality, domestically produced tapes, especially industrial and specialty types. China is also developing a strong export position. East Asia is the leading global market for advanced electronic fabrication tapes.
For more information, contact Corinne Gangloff, The Freedonia Group Inc., 767 Beta Drive, Cleveland, OH 44143-2326; phone (440) 684-9600; fax (440) 646-0484; e-mail email@example.com; or visit www.freedoniagroup.com.