The report "North American Packaging Tape Printing Market by Product Type (Hot Melt, Acrylic Based), Material (Polypropylene, PVC), Printing Ink (Water Based, UV-Curable), Mechanism (Digital, Flexography), End-user (Food & Beverages, Consumer Durables) - Forecast to 2020", the North American packaging tape printing market size is estimated to grow from USD 5.4 Billion in 2015 to reach USD 7.0 Billion by 2020, at an estimated CAGR of 5.4% from 2015 to 2020.
Printing on the packaging tapes highlights the company’s name and logo, enables ease of stock handling and identification, enhances the visibility of product, and safeguards the merchandise during transit. It also makes the product visually appealing, thereby resulting in instant recognition of the packages. The high growth of the packaging tape printing market can be attributed to the fact that a significant number of brand owners are harnessing the printing technology over packaging tapes.
Packaging tape printing has evolved as an integral part of the creative process for companies across the region seeking to garner attention or give their brand an aesthetically pleasing appearance, transforming it into a rapidly growing industry of its own. Printing on packaging tapes possesses high marketing potential; it enables product differentiation and ensures that the product is distinct and easily recognizable. Growth in the packaging printing industry, demand for aesthetic appeal, product differentiation, and technological advancements are some of the drivers behind the growth of the packaging tape printing market. The advent of global brands, rising consumerism, and growth of the packaging industry accounted for a significant increase in the scope of the packaging tape printing market.
The U.S. is expected to hold the largest market share and dominate the North American packaging tape printing market from 2015 to 2020. The U.S., being the largest manufacturer and supplier of printing materials and equipment, exhibits high-potential growth opportunities for the packaging tape printing market. However, the market continues to face challenges due to demand for high-quality printing at low cost while adhering to the government regulations. The major players in the packaging tape printing market include Quad/Graphics (U.S.), Hewlett-Packard Development Company, L.P. (U.S.), Xerox Corporation (U.S.), E.I. du Pont de Nemours and Company (U.S.), RR Donnelley & Sons (U.S.), SIAT S.p.A (Italy), and others.
