The report "Sealing & Strapping Packaging Tapes Market by Material (PP, Paper, PVC), type of adhesive (Acrylic, Rubber-based, and Silicone), Applications (Carton sealing and Strapping & bundling), and Region - Global Forecast to 2023", The sealing & strapping packaging tapes market is projected to grow from USD 17.4 billion in 2018 to USD 22.1 billion by 2023, recording a CAGR of 4.89%. The rising demand for carton sealing tapes in the packaging industry, due to its wide range of applications including carton sealing, bundling, unitizing, pelletizing, and general packaging is projected to drive the demand for sealing & strapping packaging tapes. Furthermore, these tapes are economical alternatives to plastic and metal sealing & strapping tapes, which is further projected to boost its market growth.

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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 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.

Browse 97 market data Tables and 35 Figures spread through 126 Pages here - https://www.marketsandmarkets.com/PressReleases/sealing-strapping-packaging-tape.asp

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.