Carry Handle Adhesive Tapes Market

Carry Handle Adhesive Tapes Market Research, 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.

Decline in demand for carry handle adhesive tapes in the packaging and other industries have negative impact on the market during this pandemic period.

The carry handle adhesive tapes market is segmented into Type, Technology and End-User Industry.

Carry handle adhesive tapes are small, flexible strips of self-adhesive film with a non-sticky holding part. The tapes are primarily used as a sealant agent that offers superior convenience in gripping, lifting, carrying, and transporting products by facilitating packing and bundling of compact boxes, bulk packaging of bottles, and food products. One of the most important features of these adhesive tapes is that they have advanced properties, such as temperature and moisture resistance. Carry handle adhesive tapes are a cost-effective, easy, and environmentally beneficial way to transport products, eliminating the need for plastic shopping bags or any additional bags. These tapes are extensively used to pack bulky products due to their physical characteristics, and some of these handles can sustain up to 9kg weight of fast-moving consumer goods, such as mineral water, carbonated soft drinks, beers, tissues products, and toiletries.

In recent years, the carry handle adhesive tapes market witnessed exceptional growth, which is expected to continue in the next years. Rise in investments in research and development activities, entry of new players, product innovation, technological breakthroughs, effective resource allocation, and growing competition among business rivals to expand its regional and customer base are all factors contributing to the industry's growth. In the near future, positive government policies and incentives, as well as favorable laws, are expected to drive the growth of the carry handle adhesive tapes market. Customers' spending capacity will expand as their disposable income rises, adding to the market's profits for carry handle adhesive tapes. All these benefits are expected to aid the market growth during the forecast period.

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.

By type, the rubber segment dominated the global carry handle adhesive tapes market in 2021, and is projected to remain the fastest-growing segment during the forecast period.

By technology, the hot melt segment accounted for the highest market share of around 36.0% in 2021, and is projected to maintain the same during the forecast period.

By end user, the packaging segment accounted for around 40.4% of the global carry handle adhesive tapes market share in 2021. Carry handle adhesive tapes hold to a wide variety of packaging, from single-unit bottles to shrink film multipacks and cartons of various surfaces owing to superior adhesion properties, tensile strength, and easy unwinding to ensure consistent, holding force, and reliable.

By region, Asia-Pacific is projected to be the fastest growing market. The growing food processing industry is beneficial for the rising production of food products, which is expected to increase the need for food packaging, thus help to drive the carry handle adhesive market growth during the forecast period.

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.

 Carry Handle Adhesive Tapes Market Report Highlights