Bizizz Market Research has recently published a research report, “c By backing material Type (Paper Gummed Tape and Fiber-reinforced Tape), Payload (White Gummed Tapes and Brown Gummed Tapes), adhesive type(Starch Adhesive and Other Adhesive) Application (Box & Carton Sealing, Splicing and Others), End-user (Shipping and logistics, Food and beverages, Automotive, Healthcare and hygiene, Building and constructions, Electricals and electronics and Others) Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Gummed Tapes Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 1.45 Bn by 2027, witnessing a CAGR of 5.5 % during the forecast period. Key drivers of the market are increased demand from different end-user industries by its various properties including durability coupled with light weight nature.
The Gummed Tapes market is anticipated to register a CAGR of over 5.5% during the forecast period.
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By Matterials, Fiber-Reinforced Tape segment held a key/prominent share in Global Gummed Tapes Market in 2018.
The Fiber reinforced tape segment is anticipated to be the most lucrative segment in the market and is anticipated to witness a CAGR of 4% by 2027. This market demand could be because of its excellent tear and abrasion resistance along with good shelf life period of fiber-reinforced tapes. As fiber-reinforced tapes are estimated to have a significant market demand by total sales, suppliers are increased focused on manufacturing. Different companies worldwide are concentrating on product innovation and these players are contributing fiber-reinforced tapes in the market. Sales of fiber-based packaging tapes are anticipated to account around US $ xx Bn by 2020.
Asia pacific region is Anticipated to Dominate the Global Gummed Tapes Market during the Forecast Period.
Asia Pacific region estimated for a significant share of xx% in 2018 and is projected to remain its leading position during the forecast period. Rapid growth of different industries in developing countries such as China and India is exhibiting growth in e-commerce and electronics & electrical that is expected to fuel the growth of gummed tapes market. It is encouraging different manufacturers to restructure their strategies and concentrate on product innovation. Existence of raw materials with low cost, high presence of local suppliers and growing bilateral trade are propelling the market share of Asia Pacific in global total sales of gummed tapes.
Global Gummed Tapes market was moderately consolidated with key players accounting for significant share in 2018. The companies are offering advanced gummed tapes to compete in the global market,
Prominent players operating in the Global Gummed Tapes Market are: Loytape Industries SDN.BHD., Holland Manufacturing Co. Inc., Waterproof Corporation Private Limited, Papertec. Inc., LPS Industries LLC., Tesglo Pte. Ltd.,Guangdong Yue Hui Polytron Technologies lnc., among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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