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The global packaging tape printing market size is expected to grow at a strong CAGR of 6.2% over the forecast period from 2017 to 2023, according to the latest research from Market Research Future (MRFR). The global packaging tape printing market is mainly driven by the growth of the packaging industry and the growing awareness about the benefits of packaging tape printing in terms of customer outreach and marketing.
Packaging tape printing is used to print information or graphics on packaging tape, so that it is visible on the exterior when the packaging tape is applied to the container. The global packaging tape printing is mainly driven by the growing demand from the packaging industry, where the significant benefits of packaging tape printing are just now being realized. Packaging tape printing allows companies to display marketing information on the outside, where it can easily be seen by customers. Packaging tape printing also allows companies to establish a visual identity of their company and make customers more familiar with it. Besides being used for commercial or brand-building purposes, packaging tape printing can also help offer a simple cosmetic upgrade in terms of how the package looks when packed. The growing demand for customized packaging and innovations in packaging processes is thus likely to be a major driver for the global packaging tape printing market over the forecast period.
On the other hand, the packaging tape printing market size faces certain impediments such as the price volatility of raw materials used in packaging tape printing setups. However, the significant benefits of packaging tape printing in terms of increasing the brand visibility are likely to lead to rising adoption of packaging tape printing processes in various end-use industries regardless of their drawbacks.
Competitive Analysis
Leading players in the global packaging tape printing market include Cenveo Inc., WS Packaging Group, FLEXcon Company Inc., Canon USA Inc., RR Donnelley & Sons, SIAT SpA, Xerox Corporation, E.I. du Pont de Nemours and Company, Hewlett-Packard Development Company LP, and Quad/Graphics Inc.
In May 2019, Cepak launched a new suite of e-commerce-oriented packaging solutions. The suite takes into account the increasing importance of product packaging in terms of brand awareness and recognition and is thus built to maximize a company’s gains from these means.
Segmentation
The global packaging tape printing market is segmented on the basis of product, material, printing ink, and region.
By product type, the global packaging tape printing market is segmented into hot melt and acrylic.
By material, the market is segmented into polypropylene, PVC, and others.
By printing ink, the packaging tape printing market is segmented into water-based and UV-curable ink.
Regional Analysis
Asia Pacific is likely to dominate the global packaging tape printing market over the forecast period due to the growing demand from the packaging industry in China. China has become a major global leader in the packaging industry, partly due to the growing demand from China-based online retailers. This has driven the demand for packaging tape printing in China and elsewhere in Asia Pacific. China is likely to remain one of the leading manufacturers as well as consumers of packaging tape over the forecast period, which is likely to drive the packaging tape printing market at a stable growth rate in this region. The growing prospects of the ecommerce industry in Asia Pacific are likely to be the major driver for the packaging tape printing market in in the region over the forecast period.
North America is likely to hold the second largest share in the global packaging tape printing market over the forecast period, followed by Europe. North American companies such as Canon, Xerox, and WS Packaging are among the leading manufacturers in the global packaging tape printing market, giving this region a strong foundation to build on. The growing ecommerce market in North America is likely to drive the demand from the packaging tape printing market in the region over the forecast period.
Read More :
http://www.tanews.us/sagark18/plastic_packaging_market_size_2020_-_overview_and_analysis
https://wwwmarketresearchfuturecom.prnews.io/173641-Food-Container-Plastic-Market-2020-Overview.html
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