Why Sealing & Strapping Packaging Tapes Market Is Become So Famous?

The sealing & strapping packaging tapes market size was estimated at USD 17.37 billion in 2018 and is projected to reach USD 22.07 billion by 2023 at a CAGR of 4.89%. Furthermore, the market is estimated at USD 17.38 billion for the consumption of 35.61 billion square meters in 2018 and is projected to reach 43.92 billion square meters by 2023 at a CAGR of 4.28%, in terms of volume.

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Key Market Players

Avery Dennison Corporation (US), 3M Company (US), Nitto Denko Corporation (Japan), Intertape Polymer Group (Canada), Tesa SE (Germany).

Recent Developments

• In November 2018, Intertape Polymer Group acquired the control of a 29% stake for USD 9.9 Million in Powerband (India). Acquiring a controlling interest in Powerband in 2016 provided the company with additional capacity for acrylic carton-sealing tapes in a low-cost manufacturing region to export these competitively-priced tape products to North America and Europe. Since then, having the overseas asset has enabled IPG to expand its market share in North America and negotiate better terms on raw materials for the US production of similar packaging tapes.
• In September 2018, Scapa acquired Systagenix Wound Management Manufacturing Limited (US). With this acquisition, both the companies entered into an exclusive five-year manufacturing & supply agreement. With this acquisition, the company would be able to strengthen its product portfolio and cater to the increasing demand, thereby growing its geographic penetration.

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Critical questions the report answers:

• What are the upcoming trends in the aftermarket? What impact do they make post-2020?
• What will be the revenue-generating pockets for the key players in the market?
• Which segment or region will lead the market, and why?

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