Carry Handle Adhesive Tapes Market By Type (Acrylic, Rubber, Silicone, Ethylene Vinyl Acetate, Others), By Technology (Water-Based, Solvent-Based, Hot Melt, Radiation-Based, UV Cured, Electronic Beam Cured), By End-User Industry (Packaging, Electronics, Construction, Medical, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global carry handle adhesive tapes market was valued at $233.49 million in 2021, and is projected to reach $414.33 million by 2031, growing at a CAGR of 6% from 2022 to 2031.
Carry handle adhesive tapes facilitate transportation due to ease in packaging and bundling. Instead of stuffing products into plastic bags and cardboard boxes, carry handle tapes make it easy to transport shrink wrapped products anywhere. Depending on the package format, these tapes are available in a variety of sizes. Moreover, they exhibit excellent features, such as resistance to temperature variations and moisture conditions. In addition, adhesive tapes are also defined as backing materials, which are coated with adhesive. These tapes are classified on the basis of features, strength, and adhesive type. Carry handle adhesive tapes also have fluorescent properties that allow them to glow in the dark.
The carry handle adhesive tapes market is predicted to increase primarily due to growth in end-user industries. The rise in use of adhesive tapes in developing countries poses a lucrative opportunity for the market growth. These self-adhesive handles are an affordable, convenient, and environment-friendly option to carry packages, which reduces the need for plastic shopping bags. Moreover, demand for light-weight vehicles and use of bolts, rivets, screws, and other traditional fastening techniques and devices are substituted by carry handle adhesive tapes. In addition, the need for adhesive tapes for electronic device miniaturization is further expected to fuel the market growth. Furthermore, the growth of the packaging industry is anticipated to pose promising opportunities for manufacturers in the global carry handle adhesive tapes market during the forecast period. Moreover, rise in number of applications is expected to contribute toward the development of the market across the globe. However, stringent regulatory approvals required for the production of tapes is expected to hinder the market growth.
The carry handle adhesive tapes market is segmented on the basis of type, technology, end-user industry, and region. On the basis of type, the market is classified into acrylic, rubber, silicone, ethylene vinyl acetate, and others. On the basis of technology, the market is classified into water-based, solvent-based, hot melt, radiation-based, UV-cured, and electronic beam-cured. On the basis of end-user industry, the market is classified into packaging, electronics, construction, medical, and others. The packaging segment is further divided into food, beverages, and tissues & toiletries. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the industry include, 3M, Airmaster Adhesive Tapes, Alimac Srl, Boston Tapes Commercial Srl, Davik Industries, Logo tape GmbH & Co. KG, NRG Tapes, Supertape, Tesa SE, and VENERA D.O.O. These players have adopted product launch, acquisition, and business expansion as their key strategies to increase their market shares.
IMPACT OF COVID-19 ON CARRY HANDLE ADHESIVE TAPES MARKET
COVID-19 has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
Some of the major economies suffered from the COVID-19 crises include, Germany, France, Italy, Spain, UK, and Norway.
Due to the COVID-19 pandemic, transport limitations were implemented, which resulted in reduced industrial production and disrupted supply chains. Thus, affecting the global economic growth by a substantial proportion and severely impacting the market growth.
Companies were not earning any profit as a result of the work stoppage and not only the companies lost the money but they also lost suppliers who were providing the required materials to various companies to be used in the construction sector. All those suppliers also faced huge losses.
Carry handle adhesive tape is used in the packaging industry, primarily for packaging of food & beverages, cosmetics, industrial, and personal care products. Online grocery sales accounted for 12.4% of all e-commerce sales in the U.S. in 2021. During and after the lockdown, a large number of people switched to online food shopping, and hence, the trend of sustainable packaging was continued.
Companies are incorporating various techniques to increase production volume and are attempting to develop innovative solutions at an affordable price that can meet customer requirements at a lower cost and support the overall breakthrough required for increased carry handle tape penetration sustainability.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the carry handle adhesive tapes market analysis from 2021 to 2031 to identify the prevailing carry handle adhesive tapes market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the carry handle adhesive tapes market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Key Market Segments
By Type
Rubber
Silicone
Ethylene Vinyl Acetate
Others
Acrylic
By Technology
Water-Based
Solvent-Based
Hot Melt
Radiation-Based
UV Cured
Electronic Beam Cured
By End-User Industry
Packaging
Electronics
Construction
Medical
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Tesa SE
VENERA D.O.O.
Supertape
3M
Airmaster Adhesive Tape
Alimac Srl
Boston Tapes Commercial Srl
Davik Industries
NRG Tapes
Logo tape GmbH & Co. KG
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