Market Trends of Sealing Strapping Packaging Tapes Industry
This section covers the major market trends shaping the Sealing Strapping Packaging Tapes Market according to our research experts:
E-commerce Industry is Expected to Hold Significant Market Share
- The increasing shift from brick-and-mortar shopping towards the convenience of online shopping is expected to drive the adoption of sealing strapping packaging tapes. This is because in traditional brick-and-mortar supply chain products are shipped via palatalized loads, in bulk that involves the usage of standardized automated packaging equipment that uses a film-based pressure-sensitive packaging tape owing to its effectiveness in the automated application.
- However, in the e-commerce industry, the distribution is manual making an easy-to-use carton sealing the perfect solution owing to its properties such as sealing heavy boxes and bundling of unpacked products that are used for moving, shipping and distribution offering flexibility.
- Players such as 3M, Tesa and many more are offering sealing-strapping-packaging-tapes catering to the e-commerce industry that provides Reliability, Quick, easy application by hand, manual dispensers, Choice of lengths, widths, backings, adhesives, and colors to meet specific needs.
- The growth of the e-commerce industry, therefore, would boost the adoption of the sealing and strapping packaging tapes. For instance, In 2018 there were 19.8 million eCommerce users in Canada it is expected that an additional 5.21 million users would be shopping online by 2021, according to data released by export.gov.
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Asia Pacific is Expected to Hold Significant Market Share
- The growth of the logistics industry in the region, coupled with the rise in online shopping, is expected to boost the adoption of the sealing-strapping packaging tapes in the region positively.
- For instance, according to the National Development and Reform Commission (NDRC), the total value of social logistics in the January-July (2019) period grew 5.9% year-on-year incomparable prices to CNY 163.8 trillion (about USD 23.1 trillion). Additionally, the value of industrial goods logistics expanded by 5.8% year-on-year to CNY 148.5 trillion.
- The growth of the e-commerce industry in the region is one of the significant factors that would fuel the market growth over the forecast period. For instance, according to Invest India, the e-commerce market in India is also set to witness a CAGR of 30% for gross merchandise value to reach USD 200 billion by 2026 and have a market penetration of 12% compared to the current 2%.
- Such instances are indicative of the fact that the market in the region is expected to grow over the forecast period.
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