Global Edge Band Tapes Market Overview
Edge band tapes have gained momentum in the market over the last decade with the rising globalization and increasing growth in the transportation & logistics sector. Generally, edge band tapes are made up of many different material types for packaging various products in numerous end-use industries, such as food & beverages, pharmaceutical, consumer products, automotive, and electrical & electronics, etc. among many other industries. Also, increasing use of warehouses for storage of goods have raised the demand for cartons and packaging. As a result, to keep safe their products in warehouses, many transportation & logistics companies are using edge band tapes. The global market for edge band tapes houses over a hundred many small and large manufacturers who work at a regional and global level. Edge band tapes have replaced many packaging materials used for transportation & logistics over the years with unique material types such as PVC, ABS, PMMA and solid wood among others and hold the highest demand among end users.
Global Edge Band Tapes Market Scenario
The market for edge band tapes is anticipated to create a sizable incremental opportunity across the globe mainly in Asia Pacific region in 2028 over 2018 owing to the presence of strong economies with high GDP growth rate such as China and India. Also, the global edge band tapes market is expected to witness a strong compound annual growth rate (CAGR) from during the forecast period from 2018 to 2028. Edge band tapes market across the world has grown sizably due to the increasing foreign trade, which is expected to amplify the sales of the edge band tapes globally through direct sales, third-party online channel, and modern trade, etc. among many other sales channels. By geography, Asia Pacific is expected to dominate the global edge band tapes market over the forecast period with a strong CAGR followed by North America and Europe. Owing to the significant presence of manufacturing plant for edge band tapes in China and also holding the largest share in foreign trade have created many opportunities for manufacturers and end-use industries in this region.
Global Edge Band Tapes Market Dynamics
One of the key drivers behind the growth of the edge band tapes market in the packaging industry over the forecast period is the low average sales price of edge band tapes and the market for edge band tapes is expected to witness same pricing trend in the upcoming years. Alternate factors which are amplifying the growth of the market for edge band tapes are the low inflation rate, spending patterns, per capita GDP, environment-friendly, and consumer income. Over the decade, laser technology for adding edge band tapes in designing residential as well as commercial furniture has gained popularity among the end users. Thereby, creating a large market opportunity for manufacturers as well as distributors to gain a high-profit margin in global edge band tapes market over the forecast period.
However, continuous exposure of edge band tapes to sunlight may result in changing chemical properties and thereby hampering the product’s overall lifecycle. This is anticipated to hamper the growth of global edge band tapes market. Moreover, limited penetration of these edge band tapes in emerging economies is expected to restrict market growth
Global Edge Band Tapes Market Segmentation
The edge band tapes market can be segmented on material type, thickness, end user and sales channel. On the basis of material type, edge band tapes can be categorized into PVC, ABS, PMMA, metal, solid wood and melamine. On the basis of thickness, the edge band tapes market can be segmented into thin (<1 mm) and thick (over 1 mm). On the basis of end user, the edge band tapes market can be classified into residential and commercial. On the basis of sales channel, the global market for edge band tapes can be classified into direct sales, modern trade, third-party sales, retail stores, and bricks & mortar stores. Geographically, the global edge band tapes market can be segmented into seven regions, namely North America, Latin America, Europe, CIS & Russia, Japan, the Asia Pacific excluding Japan, and Middle East & Africa.
Global Edge Band Tapes Market Key Players
APEJ, North America and Europe have a large presence of manufacturers for edge band tapes who are continuously working on introducing environment-friendly, qualitative and cost-effective edge band tapes. Some of the key market participants in the global edge band tapes market are Thermoplast; Pattex; Dollken Woodtape Company; Blazic; REHAU AG + Co; and other prominent players in edge band tapes market.
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