Published on March 5th, 2020 | by Sunit Nandi0
How Online Shopping Has Exploded the Growth of Tape and Adhesive Companies
The Adhesive industry is growing at a very fast rate thanks to the extensive use of adhesive products and online shopping all around the world. As of 2018, this industry was worth $54.1 billion, and is projected to grow to $73.8 billion by 2024. Adhesive tape and other supplies are manufactured using a sticky chemical film bonded with a backing material. There are a variety of such tapes, including various paper masking tape types, which are most often used for binding things together. Manufacturers use various materials to make the backing material including plastic, cloth, foam, foil, and paper. They then add a release liner on one side.
These tapes have become popular with health care institutions, the automotive industry and even in the beauty industry due to their non-messy nature as compared to the earlier tapes. In the automotive industry, they are used to in place of bolts and nuts to bond vehicle parts, reducing the weight of vehicles hence less fuel consumption. In the health industry, they are used for assembly of medical devices, covering wounds, in surgery and attaching electrodes among other uses.
It is this wide usage of these products, coupled with e-commerce or online shopping growth, has seen the significant growth of tape and adhesive companies. Here is how online shopping has contributed to this growth.
Growth of Online Stores Apps
Online sales are slowly surpassing retail and general stores sales. Led by the giant online shopping space Amazon, online sales have hit an all-time high as more and more people become conversant with using mobile apps to do shopping online. In 2019, consumers spent approximately $ 3.46 trillion worldwide on online purchases. Both individuals and companies alike are now using these apps to buy their wares. Adhesive products have also not been left behind as one can easily find these products in various online stores and have them shipped to any part of the world. There are so many online stores where one can find a variety of products, hence no need to go to a brick and mortar store.
Social media began at first as a platform where people could connect and share social issues. With time, this initial purpose has changed. Social media platforms nowadays are used almost entirely for business. There are so many Facebook business pages selling all manner of stuff. Instagram, a picture sharing platform that was initially meant for sharing happy moments with friends and families has been completely turned into a business platform. Instagram users now clamor for popularity, trying to get as many followers as possible who are all potential clients. Twitter, though largely a news site, has also not been left behind in online marketing and shopping. Social media has, thus, spurred the continued growth of online shopping. You are bound to easily find any kind of adhesive products with just a few clicks on these platforms. Even if you do not find some selling the specific product you want, you will at least find someone who knows another person that stocks the product you want.
Online shopping is convenient for both the shopper and the seller of merchandise. With online shopping, buyers can carry out their research using their smartphones. They can compare prices of numerous stores without having to incur the cost and spending time visiting these stores. This allows shoppers to find a wide variety of products at favorable prices. Another factor is shipping. Shipping costs are now negligible, especially for small products. It makes buying products from companies far away from your location easier than going to your nearest general store. This ease of transactions has greatly widened the market for adhesive products. Sellers are also enjoying the convenience of online shopping. As a seller, you do not need to have any warehouse, or stock any merchandise, all you need to know is where to source for those products and have them shipped to your clients when they request for them. You just need to set up a website, market your products and then sell to anyone anywhere in the world. There are a lot of adhesive products in many online stores.
Improvement in technology has seen so many places, even remote areas around the world get internet connectivity. People can access the internet with their smartphones and a few bundles hence minimizing the cost of this service. Wide access to the internet has enabled online stores to get more markets as more people can access and buy from these stores. The adhesive industry has not been left behind in this venture, considering the numerous stores that market adhesive products.