Label Protection Tapes – Market Outlook
Increasing cross border trade, population migration and expansion of global e-Commerce services into rural and semi urban areas has led to the demand for increased protection for packages and attached labels. Packages have to pass through harsh weather and are also roughly handled through the delivery process. In such a scenario, there are high chances of labels getting torn, and wet due to moisture or abrasion. To protect labels from such damages during delivery process, label protection films are used. Label protection films are made of plastic, fiber based paper or synthetic paper materials.
These tapes are moisture, chemical and grease resistant, waterproof and tamperproof. Label protection tapes manufacturers are increasingly focusing on design and development of new label protection tapes for end use industries such as food & beverages, automotive & electronics, chemicals and pharmaceuticals. Label protection tapes market in Asia Pacific excluding Japan (APEJ) region is highly contributed by small, medium and unorganized manufacturers.
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According to World Trade Organization (WTO), global trade growth in 2018 is estimated to stand at approximately 3.2%. The main attributing factors are rise in inter regional trade in Asia Pacific and increasing imports in the U.S. China’s industrial growth is expected to push the Asia Pacific export levels. The global label protection tapes market has direct correlation with the dynamics of global labels market. In the year 2017, the global labels market is estimated to be valued at nearly US$ 40.8 Bn.
Increasing consumer preference towards clean and attractive labels is driving the global label protection tapes market. Label protection tapes protects the labels from tearing and abrasion through delivery process. Label protection tapes easily adhere on many packaging formats and material surfaces. Once bonded, these tapes provide secure adhesion for extended periods . Label protection tapes can be clear/ transparent, and feature a low-glare surface for easy reading of label contents.
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Food & beverages end use segment is expected to dominate the global label protection tapes market. Construction & building materials industry is increasingly adopting label protection tapes. Cosmetics & personal care and chemicals industries are growing at an attractive year on year growth rates. Developing world is adopting label protection tapes at a higher annual growth rates. Developing world label protection tapes market is highly contributed by emerging economies such as India, Brazil, Argentina, Mexico, South Africa and Nigeria. The recent trends in label protection tapes market is rising end user preference for matte finish, acrylic adhesive and PP backing material.
Asia Pacific Excluding Japan (APEJ) is anticipated to dominate the global label protection tapes market. Improving consumer confidence in retail and dominating food & beverages sector in APEJ is the major driver for APEJ label protection tapes market. Europe label protection tapes market is expected to grow at a moderate CAGR during forecast period. Improving economic conditions and positive consumer sentiments in Eastern Europe region is the major region driving overall Europe label protection tapes market.
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Global Label Protection Tapes market: Key Players
Some of the key players operating in the global Label Protection Tapes market are – 3M Co., Shurtape Technologies Llc, International Plastics, Inc., Ajit Industries Private Limited (AIPL), ECHOtape, Nova Films & Foils, Inc., Godson Tapes Pvt. Limited., Can-Do National Tape, Cosmos Tapes & Labels Private Limited, Decofix Papers & Tapes and others.
The global label protection tapes market is expected to be driven by increasing demand from end use industries such as food & beverages, automotive & electronics and building & construction. Consumer convenience and product differentiation are the major strategies followed by label protection tapes manufacturers worldwide.