In 2022, the flatback tapes market is valued at approximately US$ 1.1 billion, with expectations to witness a robust growth, reaching US$ 1.5 billion by 2027, projecting a Compound Annual Growth Rate (CAGR) of 5.9% during the forecast period from 2022 to 2027. This upward trajectory is indicative of the rising demand and adoption of flatback tapes across various industries. Factors such as increased industrialization, packaging applications, and the need for efficient adhesion solutions contribute to the market’s expansion. The forecast underscores the sustained momentum and economic significance of flatback tapes in the global market landscape.
The surging demand for flatback tapes is driven by their versatile applicability on diverse surfaces such as paper, glass, wood, metal, plastic, and other delicate materials. As flatback tapes gain popularity for both light and heavy-duty applications globally, the market is experiencing substantial growth. This rise in demand underscores the increasing recognition of flatback tapes as a preferred choice across various industries, emphasizing their adaptability and reliability in addressing a wide range of surface requirements. The upward trajectory of the flatback tapes market is a testament to their effectiveness and suitability for numerous applications across different sectors worldwide.
Request Sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-2789
Market Drivers:
- Growing E-commerce Industry: The rise of e-commerce has led to an increased demand for packaging materials, including Flatback Tapes, for secure and efficient shipping.
- Industrial Applications: Flatback Tapes are often used in various industrial applications due to their strong adhesive properties and ability to withstand different environmental conditions.
- Advancements in Tape Technology: Innovations in tape manufacturing technology, such as improved adhesives and backing materials, can drive market growth by offering enhanced performance and versatility.
- Expansion of Construction and Automotive Sectors: The construction and automotive industries often use Flatback Tapes for masking, splicing, and other applications. The growth of these sectors can boost the demand for such tapes.
Market Restraints:
- Price Sensitivity: The market for Flatback Tapes may be affected by price fluctuations in raw materials and manufacturing processes, making it challenging for manufacturers to maintain competitive pricing.
- Environmental Concerns: Increasing awareness of environmental issues may lead to a preference for eco-friendly packaging alternatives, which could impact the demand for traditional Flatback Tapes.
- Competition from Alternative Products: Flatback Tapes face competition from other types of tapes and adhesive solutions, such as acrylic and hot melt tapes. Market share may be influenced by the availability and performance of these alternatives.
- Global Economic Factors: Economic uncertainties and fluctuations in global markets can impact the overall demand for industrial and packaging materials, including Flatback Tapes.
The Giant Players are:
- 3M Company
- Intertape Polymer Group Inc.
- Shurtape Technologies LLC
- tesa SE Group
- Scapa Group plc.
- Pro Tapes & Specialties, Inc.
- Nitto Denko Corp
- Canadian Technical Tape Ltd.
- others
Flatback Tapes Market – Competitive Landscape
The key manufacturers operating in flatback tapes market are trying to focus on increasing their production capacity to meet the increasing demand for flatback tapes. Moreover, the key players are increasing their product portfolio to cater for the growing flatback tapes market.
- In March 2021, Intertape Polymer Group Inc. expanded its capstone facility in India to cater to the Indian market.
- In April 2021, Tesa SE Group introduced bio-based materials for their adhesive taps. The company’s new package tapes featuring the EcoLogo: tesapack® Bio & Strong and tesapack® Paper Standard.
- In October 2021, a company named Ahlstrom-Munksjö, launched a dedicated product range MasterTape™ Pack of sustainable backing solutions tape. The tapes are offered in a extensive variety of saturation base papers with different weight and mechanical properties
Thickness to Turn out to be a Hindering Factor in the Global Flatback Tapes Market-
Flatback tapes have high basis weight compared to crepe paper tapes. This results in higher strength, thickness and low elongation. However, the thickness makes it unfit for majority of applications like carton sealing where the application area includes sharp edges or flexible surfaces. Due to the high strength and low elongation, flatback tapes are easily tear-able by hand. Tear strength is the main area of concern in flatback tapes resulting in a slowdown in the market’s growth.
Buy Now/Purchase: https://www.futuremarketinsights.com/checkout/2789
Flatback Tapes Market By Category
By Adhesive :
- Acrylic Flatback Tapes
- Silicon Flatback Tapes
- Rubber Flatback Tapes
- Others Flatback Tapes
By Product :
- Single Side Flatback Tapes
- Double Side Flatback Tapes
By Application :
- Splicing
- Packaging
- Masking
- Tabbing
By Thickness :
- < 10 Mil
- 10 Mil to 15 Mil
- > 15 Mil
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
