The printing on the packaging tapes draws attention to the company's name and logo, makes stock handling and identification easier, boosts product visibility, and protects the products throughout transit. It additionally enhances the visual appeal of the contents, resulting in faster packaging detection. The global packaging tape printing industry has shifted from a heavy-machinery-based business model to a more software-centric one. Printer convertors are now outfitted with the most up-to-date computer-controlled printing machines and binding flow lines, while cutting-edge digital technologies are used in pre-press. A growth in demand for cost-effective, ecologically friendly, and creative printing technologies presents an opportunity for the packaging tape printing business.
Europe Packaging Tape Printing Market Driving Factors and Challenges
There are several drivers that driving market growth. One of the primary factors providing the expansion of the packaging tape printing sector is the global increase in demand for stylish clothing. The increasing need for these tapes, which assure product distinctiveness, make packaged products easily recognizable, and allow for easy product differentiation, as well as the increasing demand for creative printing method to print packaging tapes, are propelling the market growth. The market is also influenced by brand owners' increasing usage of printing technologies on packaging tapes, as well as an increase in demand for aesthetic aesthetics and new printing styles on packaging tapes. Furthermore, rising consumer awareness, increased electronic product exports, technological improvements, and growth in the packaging printing industry all contribute to the growth of the packaging tape printing market.
High raw material costs: The global packaging tape printing sector is vulnerable to fluctuations in raw material pricing. These oscillations are caused by the availability, demand, and pricing of commodities such as paper, adhesives, and printing inks. Profit margins may be strained if the cost of raw materials rises, lowering the industry's competitiveness.
Increased competition from alternative products: alternative products such as electronic labels and shrink wrap are posing a threat to the global packaging tape printing business. These alternatives are frequently less expensive and may diminish demand for traditional packaging tape printing.
Impact of COVID-19 on Europe Packaging Tape Printing Market
COVID-19 stifled growth in the packaging tapes market. Packaging tape manufacturers were developing innovative solutions that were environmentally friendly, reusable, and biodegradable. Concerns regarding the hygiene and safety of packaging tapes, on the other hand, have stymied the industry's efforts to transition to a more sustainable and circular supply chain. The packaging tapes industry is currently recovering from the epidemic and rapidly increasing.
Europe Packaging Tape Printing Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; ADH Tape, American Packaging Specialists, Can-Do National Tape, Continental Tape Printers, Duck Tape, John Kilby and Son, Le Mark, Packit Packaging Solutions, Phoenix-tape, Printatape, WS Packaging Group.
Europe Packaging Tape Printing Market Segmentation:
By Product Type: Based on the Product Type, Europe Packaging Tape Printing Market is segmented as; Hot Melt, Acrylic.
By Material: Based on the Material, Europe Packaging Tape Printing Market is segmented as; Hot Melt, Acrylic.
By Printing Ink: Based on the Printing Ink, Europe Packaging Tape Printing Market is segmented as; Water-based, UV-curable.
By Region: This research also includes data for Netherlands, France, United Kingdom, Italy, Germany, Spain, Portugal, and Poland.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.