Tape Dispenser Industry's Growth Propelled by Sustainable Initiatives, Automation Drive, and E-commerce Surge

The tape dispenser market is on a progressive trajectory, anticipated to reach US$ 7,926.82 million by 2033, with a steady Compound Annual Growth Rate (CAGR) of 4.4% from 2023 to 2033.

Several driving factors contribute to the growth of the tape dispenser industry. Firstly, the escalating demand for eco-friendly and sustainable products prompts manufacturers to innovate tape dispensers using recyclable materials. Secondly, the packaging industry's increasing automation drive propels the sales of automatic tape dispensers.

Additionally, the surge in e-commerce activities and the consequent need for efficient packaging solutions further amplifies the demand for packing tape dispensers. Lastly, the burgeoning popularity of DIY projects and home renovations stimulates the market through increased demand for masking tape dispensers and double-sided tape dispensers, opening up new growth avenues.

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A few factors influencing the tape dispenser industry's expansion include:

* Manufacturers are creating new tape dispensers comprised of recyclable materials in response to rising consumer demand for environmentally friendly and sustainable products.
* Automatic tape dispenser sales are increasing as a result of the packaging industry's increased need for automation.
* The need for packing tape dispensers is increasing as e-commerce develops and there is a greater need for effective packaging solutions.
* The need for double-sided tape dispensers and masking tape dispensers is growing due to the growing popularity of DIY projects and home improvement projects, opening up new market opportunities.

How has COVID-19 impacted the Tape Dispenser Market?

COVID-19 is calling for protective and hygienic packaging solutions. To ensure maximum product safety, end-users are opting for automatic tape dispensers, so that minimum human and product contact could be maintained during packaging activities amid COVID-19. Therefore, the global tapes dispenser market is expected to clock a CAGR of nearly 4% during next ten years, amid COVID-19.

On the flip side, frequent lockdowns and scarcity of raw material reduced the profit margins of the key players in 2020-21. Besides, less-efficient transport facilities reduced further gain in the international tape dispenser market. Therefore, the market growth witnessed a negative growth of 0.2% in 2020-2021. However, with the strategic planning of the manufacturers in collaboration with government authorities, this market is expected to register peak y-o-y of 5.3% in the next ten years.

Competitive Landscape

The Tape Dispenser market holds the distinction of being driven by tier-3 players. They hold more than 75% of the market share. Everything, right from product launches, acquisitions, and collaborations is being tried out. AI is also being tried out.

3M Company does market Scotch and Tartan Manual Tape Dispensers. These hand-held dispensers come in HR933, H150, and HR80 versions. The advantages offered by these devices are being lightweight and proper pistol-grip, along with retractable blades and pressure bars for reducing noise.
Intertape Polymer Group Inc. has its Smart Tape solution that adopts the latest security technologies for preventing cargo theft, and product diversion and proliferation.

Key Companies Profiled

3M Company
Tesa SE
Intertape Polymer Group Inc.
Fellow Brands
Shurtape Technologies LLC
Koziol USA
START International
Prisma Pressure Sensitive Products Ltd.
Spec-Tech (Xiamen) Co. Ltd.
Aroindia Electromech Pvt. Ltd.
Excel Factory Inc.

Key Segments Covered in Tape Dispenser Industry Research

Tape Dispenser Market by Product Type

Hand Held
Table Top
Definite Length Dispenser
Stretchable Tape Dispenser

Tape Dispenser Market by Technology

Automatic
Manual

Tape Dispenser Market by End-use

Office & Commercial
Industrial

Tape Dispenser Market by Region

North America Tape Dispenser Market
Latin America Tape Dispenser Market
Europe Tape Dispenser Market
East Asia Tape Dispenser Market
South Asia Tape Dispenser Market
Oceania Tape Dispenser Market
Middle East & Africa (MEA) Tape Dispenser Market

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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

This release was published on openPR.