Global Packaging Tapes Market to Grow 5%
The global packaging tapes market is expected to grow at a CAGR of 5.34%.
The global packaging tapes market is expected to grow at a compound annual growth rate (CAGR) of 5.34%, according to latest recent market study from Technavio.
Parcel tapes will reportedly account for the maximum share owing to their different applications in industries such as automotive and food and beverage. The most commonly used parcel tapes are mainly used for the packaging of corrugated boxes, and common enclosing or sealing. Corrugated boxes are used for packaging applications in almost all industries, such as food and beverage, electronics, and chemical. This makes parcel tapes the most widely used tapes in the packaging industry.
Light-duty packaging tapes are easy to handle and have comparatively less strength and durability than parcel tapes. This is because they are mainly used for packaging products such as bundles, bags, tins, and boxes carrying lightweight products such as chocolate and apparel. These tapes are commonly used for plastic bag closures, garment bundling, party tray closures, wrapper closures, document envelope closures, and others. These tapes usually have pressure sensitive, rubber resin, or acrylic adhesive. Rubber resin is mainly for adhesion and high initial bond strength, whereas acrylic is used for UV resistance and durability. Light-duty packaging tapes are usually backed with molded plastic, clay-coated paper board, or molded fabric.
In terms of production, the global light-duty packaging tapes market is expected to reach 10.17 billion m2 by 2020.
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