The global tear tape market size is expected to showcase a substantial growth during the forecast period. Fortune Business Insights, in its upcoming report, titled, “Tear Tape Market Size, Share & Industry Analysis, By Product Type (Hot Melted Thermo Activated Tear Tapes, Self-Adhesive Tear Tapes, Individually Laminated Tapes), By Material (Biaxial Oriented Polypropylene (BOPP), Polyvinyl Chloride (PVC)), By End-Use (Food Packaging, Pharmaceuticals and Others.) and Regional Forecast, 2019-2026.”, reports that the increasing demand for adhesive tear tape in the construction and food & beverage sectors across the globe will favor the market growth between 2019 and 2026.
The widespread effect of the global pandemic, COVID-19, has been felt across several economies that are facing unprecedented loss. Owing to the lockdown announced by the government agencies to curb the spread of the novel coronavirus, several industries have been on a standstill with zero operational activities. However, a collective effort from the government, as well as the industries is anticipated to bring the economy back on track and aid in resuming industrial activities.
https://www.fortunebusinessinsights.com/tear-tape-market-102572
A tear type is a type of tensile polypropylene tape that is designed using an acrylic adhesive system. These tapes offer strong adhesive properties, along with providing an excellent shear resistance across several industrial applications such as automotive, paper and pulp, packaging, and construction, among others. In addition to this, they are extensively adopted in the binding process of the wires and in the electronic appliances.
What does the Report Include?
The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaborations that will further contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will further drive the market growth in the forthcoming years.
Increasing Construction Activities to Bolster Growth
Rapid urbanization and the increasing emphasis on quality are propelling the demand for construction activities across the globe. The increasing focus on developing residential and commercial complexes, along with modification to the existing building structures are driving the demand for adhesive tear tape in the construction activities. The tear tape has excellent properties such as strong resistance to weather and sunlight, high durability, and high tensile strength that enables it to be widely adopted in several constructional applications. Additionally, the growing food and beverage sector is propelling the companies to innovate tear tape products that will bode well for the growth of the tear tape market during the forecast period.
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/tear-tape-market-102572
Established Packaging Industry in North America to Favor Growth
Among all the regions, North America is expected to remain dominant and hold the highest global tear tape market share in the forthcoming years. This is attributable to the presence of an established packaging industry in countries such as the U.S. and the increasing disposable incomes of the working people in the region. The market in Asia-Pacific is anticipated to showcase a considerable growth during the forecast period. This is ascribable to factors such as the growing food and beverage industry that is set to drive the demand for tear tape in countries such as India and China during the forecast period.
Sonoco Acquires Corenso Holdings to Strengthen its Market Position
The global tear tape market is highly fragmented on account of the presence of several key players striving to consolidate their positions. These companies are adopting strategies such as merger and acquisition, collaboration, and partnership to gain a competitive edge over their rivals in the competitive global marketplace. For instance, in August 2019, Sonoco announced the acquisition of Corenso Holdings America, Inc. This acquisition will enable Sonoco to gain complete control of Corenso’s manufacturing facility that produces uncoated tear tape, and recycled paperboard, among others.
List of the Companies Operating in the Global Market for Tear Tape
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https://www.woddal.com/post/742699_acetone-market-growth-analysis-size-trends-emerging-factors-demands-key-players.html
https://gab.com/hingegunjan/posts/108010929187464126
https://huduma.social/blogs/107423/Thermoplastic-Elastomer-Market-Size-Share-Supply-Demand-Segments-and-Forecast
https://www.skreebee.com/read-blog/96625
https://www.reusealways.com/read-blog/99474
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