Tear Tape Market Revenue, Future Growth, Trends, Top Key Players, Business Opportunities, Industry Share, Size Analysis by Forecast 2030
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, 2023-2030.”, 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 2023 and 2030.
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.
Fortune Business Insights™ lists out all the tear tape market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
- Tann Group
- Business Tobacco Supplies
- UYUMPLAST AMBALAJ
- SPETA GmbH
- Bagla Group
- Wavelock Advanced Technology Co. Ltd.
- HB Fuller
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.
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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.
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The Global Tear Tape Market Research/Analysis Report Contains Answers to your following Questions:
- Which Manufacturing Technology is used for Tear Tape? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Tear Tape Market? What are Their Company Profile, Their Product Information, and Contact Information?
- What Was Global Market Status of Tear Tape Market? What Was Capacity, Production Value, Cost and PROFIT of Tear Tape Market?
- What Is Current Market Status of Tear Tape Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Tear Tape Market Trends by Taking Applications and Types in Consideration?
- What Are Projections of Global Tear Tape Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export?
- What Is Tear Tape Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is Economic Impact On Tear Tape Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of Tear Tape Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Tear Tape Industry?
Highlights of the Report:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the Supply Chain Analytics market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, RandD activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Supply Chain Analytics market
- June 2020: Essentra Tapes announced the launch of the first-ever recycled tear tape for flexible packaging. According to the company, SupaStrip PCR is produced from recycled PET and consists of 70% of post-consumer resin (PCR). The product further delivers sustainable solutions to the consumers without compromising performance.
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