Overview
The enhanced product design of packaging tapes available presently is motivating the need for printing on packaging tapes to promote brand individuality. Reports that explore the packaging and transport industry have been presented by Market Research Future, which produces reports on industry verticals that appraise the market expansion and prospects. The market is anticipated to gain from a CAGR of 6.2 % roughly in the forecast period.
The elevated demand for securely packed products is motivating the packaging tape printing market to an extent. The increased reliance on e-commerce activities is anticipated to spur the demand for printing of packaging tapes to enable easy identification and tracking. Moreover, the development in printing technologies is anticipated to spur the packaging tape printing market in the coming period.
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Segmental Analysis
The segmentation of the packaging tape printing market is conducted on the basis of product, material, printing ink and region. On the basis of product, the packaging tape printing market is segmented into hot melt, and acrylic. Based on the material, the packaging tape printing market is segmented into PVC, polypropylene, and others. On the basis of printing ink, the packaging tape printing market is segmented into UV-curable and water-based. Based on the Regions, the packaging tape printing market is segmented into APAC, Europe, North America and rest of the world.
Detailed Regional Analysis
The regional assessment of the packaging tape printing market is carried out on the basis of APAC, Europe, North America and others. As per the study, the Asia Pacific region is anticipated to control the principal segment of the packaging tape printing market during the forecast period. Countries in the APAC region like China are establishing themselves as an important manufacturer and dealer of printing materials and equipment. This advantage has led to the market exhibiting high growth prospects for the packaging tape printing market. Moreover, the North American region was responsible for the next major market for packaging tape printing in the forecast period.
Competitive Analysis
The rise of sponsors in the market has put on an essential role in the advancement of the market. The market has obtained an incremental stride in the past few years, which is emphasized by the accomplishments in terms of valuation. The motive of properly bolstering the global economy is being driven through the development of this market as well. The global administrations have also contributed substantially towards the development of the market in current years. Also, the competition being noticed in the market is not unfavorable to the distinct player’s progress in the market. The market is well equipped to navigate the shifting tides, abrupt upheavals, and unexplored waters in the global economy. The fiscal inflows in the market are being focused towards growing the inventions in the central product offering presented in the market so that the development doesn’t go off in the approaching period. The decrease in the barriers to trade is anticipated to extend innovative areas for development in the forthcoming years. The expansion of the resources required to withstand against competition has enhanced significantly leading to a record progress rate.
The well-known contenders in the packaging tape printing market are Hewlett-Packard Development Company, L.P. (U.S.), Quad/Graphics Inc. (U.S.), Xerox Corporation (U.S.), SIAT S.p.A (Italy), RR Donnelley & Sons (U.S.), E.I. du Pont de Nemours and Company (U.S.), WS Packaging Group (U.S.), FLEXcon Company, Inc. (U.S.), Canon U.S.A., Inc. (U.S.), and Cenveo, Inc. (U.S.).
Industry Updates:
Aug 2019 Essentra Tapes' product, RE:CLOSE is enabling Kettle Foods Ltd in promoting its new KETTLE & More range to customers while also offering user-friendly pack reclosability to preserve freshness and aid in portion control.
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