Global Paper Tapes Market: Overview
Packaging Solutions are high in demand and growing owing to a variety of factors such as increasing disposable income, growth in e-commerce and so on. From 2020 to 2030, these solutions will lead to notable growth in the global paper tapes market, opines Transparency Market Research. The robust CAGR will pave way towards lucrative opportunities and better worth.
On the other hand it is quite worth noting that region-wise their competition between Asian and European markets is set to grow more intense over the forecast period. However, North America will continue to hold a significant share in market. Players in the market are trying to tap into novel opportunities in these regions.
Global Paper Tapes Market: Competitive Landscape
The global paper tapes market is fragmented as far as the number of players operating its vendor landscape is concerned. These players are in a fierce competition as far as market share is concerned are opting for a diverse range of organic and inorganic strategy to stay ahead of the game. Some of the most prominent market players that are marking the vendor landscape of global paper tapes market are:
- 3M Company (US)
- tesa SE (Germany)
- Nitto Denko Corporation (Japan)
- Lintec Corporation (Japan)
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Global Paper Tapes Market: Key Trends and Drivers
- Pharmaceutical sector is anticipated to emerge as a lucrative avenue. New opportunities and billion dollar profits would be enabled by this sector, creating white spaces in healthcare. This would help demand for surgical paper tapes grow notably. The many benefits of these tapes will keep the trajectory for growth in global paper tapes market upward. Some of these benefits include swifter recovery, gentle removal, long-lasting bond, and preserved skin integrity.
- Growth in the retail and logistics domain is also set to be a notable growth propeller in the global paper tapes market over the forecast period. Building and construction, which is set to witness a massive volume boost in the coming decade is set to propel demand in the market too. Growing population is driving demand for housing and other amenities and buildings, while an increase in disposable income is oiling the wheels of retail and logistics over the forecast period. In the latter these tapes perform heavy duty tasks and are set to witness high revenues.