This character is a Other Symbol and is commonly used, that is, in no specific script.
The glyph is not a composition. It has no designated width in East Asian texts. In bidirectional text it acts as Other Neutral. When changing direction it is not mirrored. U+1F5AD offers a line break opportunity at its position, except in some numeric contexts.
The Wikipedia has the following information about this codepoint:
A tape drive is a data storage device that reads and writes data on a magnetic tape. Magnetic-tape data storage is typically used for offline, archival data storage. Tape media generally has a favorable unit cost and a long archival stability.
A tape drive provides sequential access storage, unlike a hard disk drive, which provides direct access storage. A disk drive can move to any position on the disk in a few milliseconds, but a tape drive must physically wind tape between reels to read any one particular piece of data. As a result, tape drives have very large average access times. However, tape drives can stream data very quickly off a tape when the required position has been reached. For example, as of 2017 Linear Tape-Open (LTO) supports continuous data transfer rates of up to 360 MB/s, a rate comparable to hard disk drives.