Plastic Tags Market: Overview
Plastic tags are used to provide information about the status of a product, safety, and for equipment inspection. Plastic tags are lightweight and have desirable resistance properties, thus increasing the shelf life of a label. Plastic tags are tamper-proof and durable. These properties are increasing the preference for plastic tags in various industries such as chemicals, pharmaceuticals, and automotive. Plastic tags are found to be more useful in differentiating products and manufacturing processes when labeled through different shapes, sizes, and color tags. Barcode-enabled tags are very useful for managing and tracing the assets of a company, which might add a new dimension to the growth of the plastic tags market. Plastic tags also serve as a punch card in many organizations. The global plastic tags market is expected to witness significant growth during the forecast, due to the customizability and versatile use of plastic tags. Plastic tags are used for inspection and warning purposes during processes such as manufacturing, maintenance, repairing, and transport. The consumption of plastic tags is expected to increase during the forecast period, owing to an increase in industrial safety and security requirements.
Plastic Tags Market: Dynamics
The dominating factor that is driving the plastic tags market is their cost-effectiveness. However, some plastic tags are reusable and recycled, which is further driving the growth of the market. Besides, branding and positioning of the product are also expected to act fueling factors for the growth of the plastic tags market. Nowadays, companies are increasingly focusing on the best practices for inventory management, which is expected to further push the growth of the plastic tags market. The importance of data notes within the consumer-product marketing mix is one of the major parameters for the increasing demand for plastic tags. The global manufacturing and automotive sector is being significantly transformed by upgrading processes with high speed. The global plastic tags market is expected to grow on the backdrop of these markets for having efficient processes. Modern trade used for product management in shipping and aviation sector is expected to surge the growth of the plastic tags market. Many hotels are using advanced technology for effective electricity (power) management, which is having a positive impact on the growth of the plastic tags market. RFID plastic tags also help in asset management for electronics products, books, bags, luggage, etc. Plastic tags have an added advantage over paper labels in any climatic conditions, due to their durability.
Plastic Tags Market: Segmentation
Depending upon product type, material used, end use, and application, the plastic tags market is segmented as follows:
On the basis of product type, the global plastic tags market has been segmented as:
- Self-locking Tags
- Tear-proof Plastic Tags
- Self-laminating Tags
- RFID Tags
On the basis of material type, the global plastic tags market has been segmented as:
- Poly Vinyl Chloride
- Others (Fiber, Vinyl)
On the basis of application, the global plastic tags market has been segmented as:
- Equipment Tags
- Safety Tags
On the basis of end use, the global plastic tags market has been segmented as:
- Electronics & Electricals
Plastic Tags Market: Regional Outlook
The plastic tags market is expected to witness moderate growth, owing to expansion in Asia Pacific and MEA, despite low growth opportunities in the North American and European regions. In emerging countries such as India, China, Mexico, and Thailand, the demand for plastic tags in the coming years is expected to increase, owing to the growing concerns for safety at the workplace, as well as industrial sector requirements. The Fair Packaging and Labelling Act for hazardous materials may positively impact the growth of the plastic tags market in the North American region. In Germany, regulations according to the Textile Labelling Act and German Packaging Act might negatively affect the growth of the plastic tags market. The plastic tags market in the European region is expected to witness a relatively low growth rate during the forecast period.
Plastic Tags Market: Key Players
The global manufacturers of plastic tags are as follows:
- Regaltags Global Ltd.
- Tailored label Products, Inc.
- Label Systems, Inc.
- Brady Corporation
The plastic tags market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segment. The plastic tags market report also maps the qualitative impact of various market factors on market segments and geographies.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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