NEWARK, Del, Sept. 06, 2022 (GLOBE NEWSWIRE) -- As per FMI, the global tape banding machine market is estimated to reach US$ 2.3 Bn in 2022 and is further expected to grow at 4.3% CAGR between 2022 and 2032, totalling around US$ 3.5 Bn by 2032.
Rising adoption of tape banding machines across diverse industries including food and beverages, electronics, logistics, and packaging is a key factor pushing demand in the global market.
Moreover, increasing consumption of packaged food and in the demand for online food delivery is anticipated to accelerate growth in the tape banding machines market during the forecast period.
Tape banding machines bundle and pack the products while also protecting fragile, high-end materials. To keep a strong grasp on objects without inflicting damage, the banding machine uses a wide, delicate material like paper tape, plastic film or a ribbon.
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These banding machines wrap the material around each good or bundle of products, then automatically cuts the band. They use ultrasonic technology or heat to seal the bands. Banding goods can be easily opened by hands, without tools.
The band tensioning method is more accurate and beneficial as compared to strapping. Banding allows high-quality printing, is easy to open and has a wider variety of binding materials.
Tape banding machines are available in both semi-automatic and automatic configurations. Automatic machines are majorly used for high-volume production lines and are high in performance. They are fully automated, bundle the product, seal it and cut the bands.
However, semi-automatic banding machines are low in cost as compared to automatic ones and are used to handle low volume to medium volume applications.
There are many factors contributing to the growth of the tape banding machines market such as being easy to use, economical and cost-effective. Banding is required to combine, hold, stabilize and fasten the goods tightly.
Growing need for protecting products during shipping and transportation, and utilization of these machines in various industries such as logistics and warehousing, food and beverage, healthcare and pharmaceutical, for packaging of goods are expected to fuel the market growth over the forecast years.
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Key Takeaways from Tape Banding Machine Market
· By operation, the automatic tape banding machines segment is expected to hold 62.6% of the market share in 2032.
· Based on end use, logistics and warehousing segment is expected to grow 1.5 times of its current size by the end of forecast period.
· By capacity, 1.6-2 seconds per strap is expected to grow at a CAGR of 5.1% during the forecasted year
· The U.S. tape banding machine market is likely to surge at 2% CAGR through 2032.
· Demand for tape banding machines in India is anticipated to rise at 4.3% CAGR, reaching a valuation of US$ 249.5 Mn by 2032.
“Rising demand for tape banding machines across various end-use industries, especially in logistics & warehousing and food & beverage, has been the major factor adding fuel to the market growth. Similarly, growing requirement for safe packaging of goods is producing a significant market demand for tape banding machines,” – Comments FMI analyst
With Advanced Technology, Banding Machines Are Acting as a Perfect Companion for Primary Packaging
When it comes to the bundling of consumer goods like fruits & vegetables, banding is the perfect primary packaging option for products as it does not generate any harmful waste. With ultrasonic technology, 100 % eco-friendly, non-toxic and adhesive-free bands are used.
Banding material is particularly gentle on edges and prevents unauthorized opening of products, replaces price labels, provides all the product-related information on the band and also creates considerably less waste than other packaging. Thus, the rising use of banding in primary packaging is expected to fuel the demand for the tape banding machines.
Who is Winning ?
Some of the leading players operating in tape banding space include Dynaric, Inc., StraPack, Inc., HAMME MAKINE A.S., SUNPACK, Transpak Equipment Corp., Signode Industrial Group LLC, Fromm Holding AG, ATS-Tanner Banding Systems AG, FELINS, Bandall International., Avi International Packaging Co., The Plastic Strapping Company Ltd, Join Pack Machines Private Limited, Millenium Packaging Solutions, TPC Packaging Solutions, Cyklop Global Packaging Solutions and Kopack Enterprises.
These players are continuously upgrading their products to help end users to improve their productivity and secure packages with better banding.
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Tape Banding Machine Market by Category
By Capacity:
- 1-1.5 second(s) per strap
- 1.6-2 seconds per strap
- More than 2 seconds per strap
By Operation:
- Semi-Automatic
- Automatic
By End Use:
- Logistics & Warehousing
- Food & Beverage
- Healthcare & Pharmaceutical
- Electronics and Electrical
- Agriculture & Construction
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1.1. Global Packaging Market Overview
3.1.2. Global Packaging Machine Market Overview
3.1.3. Global Plastics Industry Growth Outlook
3.1.4. Macro-Economic Factors
Click Here for Tape Banding Machine Market 260 pages TOC Report
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The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analysed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
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