Use of tapes plays a crucial role for packaging, sealing and masking applications in industrial and non-industrial applications. Tapes are made of thin sheets, so to provide strength to the overall structure of tapes and to increase the convenience in its usage cores of various sizes are used. New developments in cores have led to the innovations for tape dispensing while enabling end users to use tapes more frequently and efficiently.Tape cores are commonly made of Paper and paperboard, plastic and metal for some applications. Apart from providing strength to the tape and increasing end user convenience, tape cores can be printed with company name or logo to leverage the use vast use of tapes in creating the brand image of the tape manufacturing company.
Tape and Label Cores Market: Market Dynamics
Tapes market is rapidly growing due to its wide range application from sealing to masking in shipping and logistic industries to building and construction. To tap the potential tapes, market manufacturers are focusing on improving the consumer experience while using the tapes. World tape market is estimated to be around US$ 50 Bn and is expected to grow at a CAGR of over 5% over the forecast period. The growth in the use of tapes is the key driver for tape and label cores market. Trough prints of company’s name and logo on the cores companies are leveraging the wide range of application of tapes in various industries for building brand image while boosting the growth in tape and label cores market.
Tape cores are essential to provide strength to tape and labels for providing the convenience in the usage of tapes which provides the sustainability in tape and label cores market. Low cost of the raw material utilized in manufacturing of tape and label cores is another factor supporting the demand in tape and label cores market. However, technological advancements such as digital dispensers may limit the use of tape core in industries while limiting the growth in tape and label cores market.
Being the largest exporter of the world merchandise APEJ region is expected to lead the tape and label cores market. North America is expected to follow APEJ region in tape and label cores market due to its high consumption of pressure sensitive tapes and labels for commercial and non-commercial purposes. Western and Eastern Europe are expected to grow moderately in tape and label cores market. MEA is expected to be a small but rapidly growing region in tape and label cores market while Japan is expected to contribute the significant share in tape and label cores market attributed to its high exports.
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Tape and Label Cores Market: Key Players:
Some key players in tape and label cores market are Sonoco Products Company, PTS Manufacturing Co., Western Container Corporation, MAGNETICS, COREX Group, Denka Company, Teel Plastics, Inc., Northcore Industries Inc., Available Plastics, Inc. and Excalibur Extrusion, Inc.