The global packaging tape printing market has continued to remain robust across all regions. This is mainly because a significant number of brand owners harness the printing technology in the packaging tapes. Printing on the packaging tapes highlights company names and logos, enables ease of stock handling and identification, enhances the visibility of product, and safeguard the merchandise during transit. It also makes the product visually appealing, thereby resulting into instant recognition of the packages. MarketsandMarkets projects the global packaging tape printing market size to grow from USD 21.42 Billion in 2015 to USD 28.78 Billion by 2020, at a CAGR of 6.08% from 2015 to 2020.
Water-based inks are estimated to have the largest share in the packaging tape printing market in 2015 and the current trend is expected to follow during the forecast period. The high consumption of water-based inks in the packaging tape printing market can be attributed to its high level of compliance with the current environmental protection standards. These inks offer better performance and low printing cost, with less damage to both people and environment. UV curable inks are expected to grow at the fastest rate during the forecast period. As these inks are cured by exposure to strong UV light, they can be applied to a wide range of uncoated substrates and produce a very robust image. Unlike water-based ink, the UV-curable inks dry as soon as they are cured, thereby increasing the print speed. These inks possess high density, and hence are capable to print onto rigid substrates.
Digital printing in the packaging tape printing market is projected to have the largest market share in terms of size, during the forecast period. It is also forecasted to grow at the fastest rate owing to its ability to provide a high-quality and cost-effective solution for manufacturing high designed printed tapes along with the recycling options. Therefore, printer convertors are adding digital printers in their printing press to reap the benefit of improved productivity, reliability, and cost-effectiveness over higher runs.
The food & beverages industry in the packaging tape printing market is expected to be the highest contributor as compared with other end-user industries. Rising demand of innovative packaging and printing technologies, in order to enhance the visibility of packaged products, is one of the factors enhancing the growth of food & beverages industry in the packaging tape printing market. Other end-user industries which are expected to grow at a high rate include consumer durables, transportation & logistics, and others.
Hot melt carton sealing tapes in the packaging tape printing market is projected to have the largest share in terms of size, during the forecast period. Owing to the faster set-up time, these tapes have found wide utility in industrial applications that require high-speed production lines using semi-automated or automated packaging machinery, bonding versatility, large gap filling, fast green strength, and minimal shrinkage. It is also easier to release these tapes from the roll, and hence can be used in the absence of a tape dispenser. The high demand of hot melt carton sealing tapes has contributed significantly in accelerating its demand in the packaging tape printing market.
Polypropylene in the packaging tape printing market is projected to have the largest market size, during the forecast period. Polypropylene films, very strong and rigid in nature, are one of the most versatile, economic, and prepotent barrier films that offer excellent moisture barrier, temperature resistance, clarity, gloss, durability, the ability to print, embossability, aroma strength, dimensional stability, and processability. It provides stiffness and high tensile strength to the printed tapes. Polypropylene retains the same corrosion-resistant properties throughout, which eliminates the need for additional maintenance such as re-coating the inside or outside to safeguard against corrosion. It require less energy and fewer raw materials for its manufacturing, and hence emerged as an economically viable alternative for the packaging converters and commanded a major share in the packaging tape printing industry.
Packaging Tape Printing Market by product type (Hot Melt, Acrylic), Material (Polypropylene, PVC), Printing Ink (Water-based, UV-curable), Mechanism (Digital Printing, Flexography), End-user industry (Food & Beverages, Consumer Durables) - Forecast to 2020
Markets and Markets
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