Packaging Tapes Market Growing at 5.34% CAGR to 2020 Driven by APAC
Aug 26, 2016
RnRMarketResearch.com adds Global Packaging Tapes Market 2016-2020 latest research report, the analysts forecast global packaging tapes market to grow at a CAGR of 5.34% during the period 2016-2020.
August 26, 2016 /MarketersMedia/ —
The global packaging tapes market analyst says growing demand for printed packaging tapes will be a key trend for market growth. With growing demand from the packaging industry, the printed packaging tapes market is growing. Printed packaging tapes are in high demand because of the need to differentiate products for easy identification and marketing purposes. The printed packaging tapes market was valued at approximately $23 billion in 2015.
Complete report on packaging tapes market spread across 83 pages, analyzing 5 major companies and providing 43 data exhibits are now available at http://www.rnrmarketresearch.com/global-packaging-tapes-market-2016-2020-market-report.html
According to the 2016 packaging tapes market report, use of multiple packaging tapes in diverse industries will be a key driver for market growth. One of the main factors that affect the market positively is the growing demand for packaging tapes in a variety of applications. An increase in the availability of innovative designs and materials used in the packaging tapes market has increased the use or application of packaging tapes in various industries. Industries such as automotive, retail packaging, food and beverage, and e-commerce are putting packaging tapes to multiple uses. The demand for high-quality tapes such as filament tapes is increasing in the automotive industry.
APAC will be the fastest-growing region in packaging tapes market and is anticipated to grow at a CAGR of around 6% during the forecast period. The high purchasing power of people in countries like China and India has increased the demand for different retail and food products and beverages, resulting in the rapid growth of packaging tapes. China is the dominating nation in the packaging tapes market in APAC because of the large scale manufacturing activities in the country. Order a copy of Global Packaging Tapes Market 2016-2020 report @ http://www.rnrmarketresearch.com/contacts/purchase?rname=672196
The following companies are the key players in the global packaging tapes market: 3M, Avery Dennison, Henkel, Nitto Denko, and Tesa. Other prominent vendors in the market are: Advance Tapes International, Adhesives Research, Bostik, Dow Corning, Evans Adhesive, Franklin International, H.B. Fuller, Intertape Polymer, Lintec, Lohmann, LORD, MACtac, Hexion, Nova Films and Foils, Powerband, Royal Adhesives & Sealants, RPM International, Scapa, and Shurtape Technologies.
Parcel tapes will occupy the largest share in the packaging tapes market and is likely to hold more than 42% of the overall market by 2020. These tapes have wide acceptance in packaging across several verticals including automotive and food and beverage. These are the medium-strength tapes used to package products in corrugated boxes. The most commonly used parcel tapes are brown or translucent and are primarily used for the packaging of corrugated boxes, and common enclosing or sealing.
Global Packaging Tapes Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. The report covers the present scenario and the growth prospects of the global packaging tapes market for 2016-2020. To calculate the market size, the report considers the volume of packaging tapes manufactured for different industries such as automotive packaging, retail ready packaging, food and beverage packaging, e-commerce packaging, and others.
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Source: http://marketersmedia.com/packaging-tapes-market-growing-at-5-34-cagr-to-2020-driven-by-apac/129710
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