The tape backing materials market is anticipated to expand at a CAGR of roughly 5% to 6% from 2022 to 2032. With a revenue share of roughly 60% to 70% from 2022 to 2032, polypropylene is anticipated to become the most popular material on the global market.
The expansion of the global market is anticipated to be aided by increasing uses of tape backing materials in packaging solutions across industries including electronic & electrical, food & beverage, personal care & cosmetics, confectioneries, home care, and others.
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Tape Backing Materials Market: Market Dynamics
The demand for packaging tapes in increasing at a decent CAGR value due to growing cross-border flow of products and e-commerce industry. Packaging tapes are extensively used to protect products from damage during shipping and transportation. With the high consumption of packaging tapes, the demand for tape backing materials will also grow simultaneously during the forecast period.
The demand for polypropylene backing material will outpace other segments in the global tape backing materials market. Manufacturing of tape backing materials require skilled labor and the high cap-ex which in turn emerge as major challenges to the tape backing materials manufacturers across the globe. With the increasing application of tapes in different end-use industries such as electrical & electronics, healthcare, etc., the demand for tape backing materials will also increase at the same pace as tape backing materials are the integral part of the tape products. It is noticed that there are numerous opportunities for the new entrants as well as existing manufacturers to establish good market presence in the global tape backing materials market.
Tape Backing Materials Market: Regional Overview
On the basis of region, the Tape Backing Materials market is segmented as North America, Latin America, Eastern Europe, Western Europe, APEJ (Asia-Pacific Excluding Japan), Middle East & Africa, and Japan. The Asia-Pacific region dominates the tape backing materials market in terms of both i.e. consumption and production. The China is the largest consumer of tape backing materials due to the presence of a large number of tape manufacturers in the region. However, the North America and European region occupy the second and third spot in the global tape backing materials market.
The U.S. accounts for more than 90% market share in the North America tape backing materials market. In MEA region, the shifting focus of local entrepreneurs to venture into new businesses will drive high growth in tape backing materials market. It should be noted that Saudi Arabia and UAE are the two largest market in the GCC tape backing materials market. Tape backing materials market in Japan is consolidated in nature with the presence of a few players dominating the market. It is noticed that the countries such as Brazil, Mexico, etc. also offer untapped growth potential in the global tape backing
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What are the Challenges Faced by the Tape Backing Materials Market?
Implementation of stringent standards and norm by regulatory organizations, such as the U.S. Food and Drug Administration, regarding the use of toxic plastic material such as PVC across medical and food & beverage industries, is estimated to hinder the sales of tape backing materials across the PVC segment.
In addition to this, increasing end user inclination towards using biodegradable and eco-friendly tapes, owing to the rising environmental concerns, is resulting in the adoption of paper & fabric-based tape backing materials. This is further hampering the demand for tape backing materials made of plastic.
Market Competition
Some of the leading players in the tape backing materials market are
- Ahlstrom-Munksjö,
- Muparo AG,
- Tesa SE, Neenah, Inc.,
and others.
Prominent players in the global tape backing materials market are aiming at launching sustainable products and capacity expansion to gain edge in the highly competitive market.
Key Segments Profiled in the Tape Backing Materials Market Survey
By Materials Type:
- Plastic
- Polypropylene
- Polyvinyl Chloride (PVC)
- Polyethylene Terephthalate (PET)
- Foam
- Paper
- Metal Foil
- Woven Fabric
- Others
By Application:
- Masking Tapes
- Double-Sided Tapes
- Electrical & Electronic Tapes
- Medical Tapes
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Japan
- Middle East and Africa
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Key Benefits
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the Tape Backing Materials market analysis from 2022 to 2032 to identify the prevailing Tape Backing Materials market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the Tape Backing Materials market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global Tape Backing Materials market trends, key players, market segments, application areas, and market growth strategies.
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https://ext-6251924.livejournal.com/770.html
https://icelisting.com/story14127816/vinyl-films-market-size-share-global-industry-report-for-2027
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