Soaring demand for corrugated box packaging, along with an increasing preference for gummed tapes in the logistics and shipping sector, are expected to fuel growth in the global gummed tapes market, according to a new report by Future Market Insights (FMI). The market is projected to grow at 4.9% compound annual growth rate (CAGR) in terms of volume through 2027. Sales of gummed tapes were projected to reach nearly 1 billion sq m in 2017; by the end of 2027, the market is expected to reach 1.6 billion sq m.
Sealing cartons with self-adhesive tapes can be harmful for the environment, due to their weak bonding strength, which results into excessive usage of tapes for secured packaging. This leads to a surge in plastic waste. In contrast, only one strip of gummed tape, which is stable and comprises paper and adhesives, is required to seal the carton, making it a more resource-efficient option. These factors are expected to sustain growth of the global gummed tapes market.