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, 2024-2032

Tear tapes are commonly used to stick paper, paper boards, corrugated fibreboards, and plastics in the packaging of the various products; hence, increasing demand for the tear tapes in the packaging industry is expected to drive the global tear tape market growth. Multiple companies in the tear tape market immensely use push strategies to sell the tear tapes in the bulk quantities to various retail outlets, department stores, shopping malls, and convenience stores; this, in turn, helps to drive the revenues of the companies. Additionally, various companies use tear tapes for branding and promotional activities for their product and services.

Manufacturers design different types of tear tapes according to the size, and the applications to provide easy opening and packaging solutions to the products. Tear tapes are widely used in the binding of the wires and components in the design and packaging of the electronic appliances, therefore, increasing the electronic appliance market propels the growth of the market. Tear tapes are widely used in recent times to stick the technology-enabled RFID tags that help to detect the owner of the product and also aids in merchandising related activities that effectively foster the global retail sector. 

Key Market Driver -

Flourishing residential and commercial buildings and constructions is projected to fuel the tear tape market.

Key Market Restraint -

Easy availability of the various substitute products such as stick gums, and various other adhesives is anticipated to hamper the market growth

Increasing the spread of residential and commercial buildings and construction that majorly require tear tapes for packaging along with the growing global population is anticipated to drive the tear tape market. According to The Institute of Civil Engineers (ICE), the global construction market is projected to grow by USD 8 trillion by 2030. Moreover, increasing the repair and maintenance industry influences the necessities of the repair and packaging tools and other related products drive the demand for tear tape products.

Tear tapes are widely utilized in the various FMCG industry sectors such as pharmaceuticals, food, and toiletaries that helps to provide efficient sticking solution during the packaging of the products, hence growth of these sectors is projected to boost the demand for tear tapes. Additionally, tear tapes are widely used in sticking various parts in the decorative crafts, and hence growing interior and decoration industry.

Easy availability of the various substitute products such as sticky gum, adhesives, glue is anticipated to restrain the tear tape market growth. Moreover, stringent government regulations in the use of sticky chemicals in the tear tapes to avoid the chemical decomposition of the product impact the market.  

Key industry players:

The global tear tape market involves various key industry players such as Tann Group, REXOR, Business Tobacco Supplies, UYUMPLAST AMBALAJ, SPETA GmbH, Bagla Group, Wavelock Advanced Technology Co. Ltd., ESSENTRA, HB Fuller, etc.  

The global tear tape market is segmented by product type, by material, by end-use, and by geography. Based on the product type, the tear tape market is segmented into hot melted thermos activated tear tapes, self-adhesive tear tapes, and individually laminated tapes. The self-adhesive tear tapes segment is expected to hold a major share of the global tear tape market owing to the various technological advancements in the adhesives, along with the easy usability and cost-effective as compared to other tear tape types.

Based on material, the global tear tape market is segmented into biaxial oriented polypropylene (BOPP) and polyvinyl chloride (PVC) types of material segments. Biaxial oriented polypropylene (BOPP) segment is expected to hold the major share, as tapes made up of BOPP material are easily recyclable and have lesser emissions of the toxic substances as compared to tapes made up of PVC types.

Based on the end-use, the global tear tape market is segmented by food packaging, pharmaceuticals, and others such as groceries, toiletries, and decoration. Growing the restaurant industry with rising food orders that require packing ultimately fuels the demand for tear tapes. According to the National Restaurant Association, the US restaurant industry is accounted for USD 863 million in 2019, which is expected to employ 16.9 million peoples by 2029.

Regional Analysis:

Based on geography, the tear tape market is segmented into regions such as North America, Europe, Asia Pacific, South America, Africa & Middle East.

North America region is projected to dominate the global tear tape market. The developed country, such as the United States is expected to hold the major share in the tear tape market in North America owing to the presence of the world’s major consumer market in the country that results into the presence of the efficient packaging industry that requires tear tape products. According to the United States International Trade Administration, in 2017, the US consumer market is the biggest in the world accounted for USD 13.3 Trillion in goods and services. In addition to this, increasing disposable incomes of the population in the North American region results in the region to hold a major share for the global tear tape market.

Asia Pacific region is projected to grow at a faster rate owing to countries such as China, and Japan are the major contributor to the growth of the market. Rising food and beverage products results in increasing needs for packaging. According to USDA Food & Agriculture service, the Japanese food processing industry is accounted to produce USD 216.1 billion value of food and beverage products, and the revenue has increased to USD 218 billion in 2017.

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Moreover, increasing sales growth in the adhesives and tape industry boosts the consumption of the tear tapes in China. According to China Adhesives and Tape Industry Association, sales volume of the adhesives and tear tapes in the mainland China has grew by 10.1% in 2017 as compared to previous year. Furthermore, improving the e-commerce industry that propels the demand for the packaging industry drives the market in the Asia Pacific region. According to the United Nations ESCAP, the e-commerce industry in Asia and the Pacific region is projected to grow 37% annually from 2014 to 2020.

Segmentation

Recent key developments:

• In August 2019, Sonoco completes the acquisition of the Corenso Holdings America Inc.  to acquire Colenso’s manufacturing facility of uncoated recycled paperboards, tapes, and speciality industries business and to provide long term partnership to the customers.


• In November 2017, Clock Spring Company LLP, has launched Contour WA, a composite solution introducing an engineered bi-axial stitched e-glass tape impregnated with a water activated polyurethane resin designed for abrasion resistant coatings for pipes under roads and rivers.