Global Tape Dispenser Market: Overview
In today’s world, especially in commercial spaces, a tape dispenser has come up as widely used stationery. It is actually an essential item when it comes to taping of several packages. A tape dispenser assists in feeding and cutting tapes and thus diminishes wastage of tapes. In addition to that, tape dispenser simplifies the process of packaging and saves both energy and time when it about packaging multiple items. Such benefits of the product are likely to trigger growth opportunities for the global tape dispenser market in the years to come.
Depending on the type of applications and types of tapes to be used, tape dispensers come in various sizes and shapes. Tape dispensers are utilized for all types of tapes available in the market, such as pressure sensitive tapes, industrial tapes, and adhesive tapes. This can range from a very complicated automatic dispenser to very basic and plain ones. Availability of such a wide variety of dispensers is likely to open up new growth avenues of the global tape dispenser market over the tenure of analysis.
Product type, end use, basis of industries and region are the four important market parameters based on which the classification of the global tape dispenser market has been done. Such dissection of the market comes with the purpose to offer stakeholders with a detailed and clear analysis of the global tape dispenser market.
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Global Tape Dispenser Market: Notable Developments
One of the developments that offer a glimpse of the market dynamics about the global tape dispenser market is mentioned below:
- In February 2020, Canada-based manufacturer of packaging products, Intertape Polymer Group Inc., has entered into an agreement to make an acquisition of Nortech Packaging. The latter is a privately held packaging company based out of Chicago. This acquisition is estimated to diversify the product portfolio of Intertape Polymer Group Inc and expand its reach.
Some of the prominent organizations in the global tape dispenser market include the below-mentioned:
- ShurTech Brands LLC
- 3M Company
- Koziol USA
- Intertape Polymer Group
- X.L.T. International Electronics Co.
- Uline, Inc.
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Global Tape Dispenser Market: Key Trends
The global tape dispenser market is characterized by the presence of the following restraints, drivers, and opportunities.
Product Innovation to Offer More User Friendly Products and Attract More Customers
Innovation has come up as a recent trend in the global tape dispenser market as more manufacturers shift their focus on offering new, innovative products. At the time of designing, manufacturers are also emphasizing on the safety of customers along with ensuring hassle-free handling and storage. A case in point is launch of tape dispensers with foam handle that can be easily adjusted using a control knob. Addition of control knob makes it easier to use tape sans any discomfort and fatigue. Innovations such as these ensures that use of tape dispensers is easy, which is likely to amplify growth of the global tape dispenser market over the tenure of assessment.
Augmented use of packaging tapes in the packing of various materials is likely to augur well for the global tape dispenser market over the period of analysis. In addition, augmented manufacturing activities and launch of innovative products in many developing countries is likely to support growth of the global tape dispenser market in the years to come. On the other hand, high initial investment, certain safety issues at the time of handling these dispensers, and some complications in the loading of tapes are likely to pose challenge to the expansion of the market over the period of assessment.
Global Tape Dispenser Market: Geographical Analysis
Asia Pacific is anticipated to observe rapid growth in the global tape dispenser market and the region is estimated to grow at a healthy growth rate throughout the period of assessment. The regional market is estimated to be driven by China and India. Rise in disposable income of the people coupled with phenomenal growth of the packaging industry is forecasted to lay down highly promising trajectory of growth for the players in the market.
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