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From customers to product manufacturers to the packaging business, paper tape packaging is gaining favour. As the demand for quick stick and strong adhesion packaging grows, so will investments in this area. As a result, innovative materials, processes, techniques, and designs will emerge that suit consumer wants while also being environmentally sustainable.
Between 2022 and 2030, the global paper tapes market is estimated to reach US$ 7.6 billion, growing at a CAGR of 4.3 percent.
Paper tapes are in high demand for masking and packaging applications in a variety of sectors. The paper tapes market is being driven by increased demand from healthcare, automobile sectors, furniture manufacturing, electronics, and other industries, according to a recent analysis by Future Market Insights (FMI).
Some of the main brands are adding new features in their tapes that demonstrate greater heat and water resistance. Such advancements aid in the market’s overall expansion. Paper tapes made of natural materials are seeing increased demand as the focus shifts to more sustainable and innovative packaging solutions.
The paper tapes market study from FMI provides a thorough analysis, including growth drivers and restraints. The following are some of the report’s most important takeaways.
The market for paper tapes is fragmented, with Tier 1 players accounting for roughly 40-45 percent of the total market. To make their products more appealing to consumers, market players are expected to focus on obtaining materials from renewable sources. Intertape Polymer Group Inc., Berry Global Inc., Advance Tapes International, Pro Tapes & Specialities Inc., PPI Adhesive Products, Specialty Tapes Industry, Shurtape Technologies LLC, Atlas Tapes S.A., PPM Industries S.P.A., and Can-Do National Tape are some of the leading companies in the market.
The Paper Tapes Market Report’s Key Takeaways
Paper tapes are seen as feasible packaging options, owing to their recyclability. They’re one-time-use items. When these tapes are no longer useful, they can be recycled into environmentally friendly items. They are typically sold quickly and are seen as a good investment by producers looking to meet consumer packaging needs,” according to an FMI analyst.
The post Paper Tapes Market Estimated to Reach US$ 7.6 billion, Growing at a CAGR of 4.3% by 2030 appeared first on Future Market Insights.
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