Labelling tapes are typically designed in two basic formats that are primarily labels applied to exterior of the tape and another the data is recorded on tape itself. The recording data is not a new concept for many years the barcodes and data tapes are being used in many industries like Automobile, Healthcare & Pharmaceuticals, Personal care and Food & Beverages sector as well. Labelling tapes are well sound and effective in many of the chemical industries as well were the detail information is stored on the bar codes for reference to end user and operation or process gauging for manufacturers.
RFID Technology to enhance the market growth of Labelling tapes market
RFID technology is reported to be the most commonly used technological form, representing more than 65 percent of global demand for labelling tapes market. The main advantages associated with RFID labelling tapes are the ability to be implemented on various substrates, automated data collection, information consistency and real-time monitoring. Labelling tapes are basically designed to use the dynamic display mark that would increase dramatically as dynamic display of product information and pricing will result in easy pricing and precision for consumer decision making. Over the forecast period the segment is expected to experience the rapid growth for the Labelling tapes market.
Thanks to the broad variety of end-user industries such as data storage, consumer goods, packaging and labeling, the magnetic tape market is rising significantly the market growth of labelling tapes market. Data storage is a highly established magnetic tape market and the emerging regions are increasing the demand for labelling tapes at a global level due to the high adoption rate and ease of use. The fluctuation in these magnetic tape’s raw material, however, can impede the growth of the labelling tapes. Nevertheless, the growing concern in the industries for data integrity, theft, and loss these days provides the labelling tape industry worldwide with growth opportunities.
Globally, the Labelling tapes market is segmented into product type, material type, capacity, and end use.
By Technology, the global Labelling tapes market has been segmented as follows: -
By product types, the global Labelling tapes market has been segmented as follows: -
By Application, the global Labelling tapes market has been segmented as follows
APAC is identified as a prominent market for labelling tapes and is also expected to be the fastest growing market in the forecast period. The region is experiencing strong growth due to high sales of the electrical & electronics, and automotive. The labelling tapes market in emerging economies, such as China, India, Brazil, South Africa, and Indonesia, is expected to see substantial growth while more established markets such as the US, Germany, Japan, and the UK are expected to experience sluggish to no growth over the projected period. China is projected to be the major contributor, largely driven by the high demand from heavy industries and the manufacturing of consumer goods.
Socio-economic growth is helping grow the country's global adhesive tapes market. In addition, low raw material costs and easy availability of cheap labor for the manufacture of adhesive tapes resulted in increased production of low-priced tapes in APAC, which in turn contributed to the growth of the adhesive tapes market in the area.
Some of the key players operating in the global labelling tapes market are as follows-
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on labelling tapes market segments and geographies.
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