The sealing & strapping packaging tapes market is projected to grow from USD 17.4 billion in 2018 to USD 22.1 billion by 2023, at a CAGR of 4.89% from 2018. The growth in the sports and outdoor apparel industry, due to the growing health awareness among consumers and increasing fitness activities, are driving the growth of the sealing & strapping packaging tapes market during the forecast period. In addition, the increase in demand for protective clothing and accessories such as military, surgical/medical, and chemical protection garments are influencing the growth of the market.

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Applications - “Carton sealing and Strapping & bundling”

Type of adhesive “Acrylic, Rubber-based, and Silicone”

Key Market Players –

The sealing & strapping packaging tapes market is dominated by large players such as Avery Dennison Corporation (US), 3M Company (US), Nitto Denko Corporation (Japan), Intertape Polymer Group (Canada), Tesa SE (Germany), Scapa Group plc (UK), Shrutapes (US), Nichiban (Japan), Mactac (US), and Wuhan Huaxia Nanfeng Adhesive Tapes (China). These players have established brands, a wide product portfolio, and a strong geographical presence in various countries.

The Asia Pacific sealing & strapping packaging tapes market is projected to register the highest CAGR during the forecast period

The Asia Pacific region is projected to witness the fastest growth in the sealing & strapping packaging tapes market, in terms of value. This high growth of the market is attributed to the growth of the packaging industry in emerging economies such as China, India, Vietnam, and Taiwan in the Asia Pacific region. In addition, these countries are the largest exporters of packaging materials globally. Cheap labor costs and the availability of domestically produced raw materials have further contributed to the growth of the market in this region.

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The polypropylene segment is projected to dominate the sealing & strapping packaging tapes market through 2023

The polypropylene segment is projected to account for the largest share of the sealing & strapping packaging tapes market, in terms of value and volume, from 2018 to 2023. This dominance of this segment is attributed to its properties such as high abrasion, impact-resistant, water-resistant, and high flexibility. These properties have led to an increasing preference for polypropylene, which is used in the production of sealing & strapping packaging tapes. The paper segment is projected to be the second-largest segment, in terms of value and volume, from 2018 to 2023, due to various properties such as flexibility, transparency, light-weight, and a good barrier to oxygen and water.