The global tape backing materials market is estimated to exhibit growth at a CAGR of around 5% to 6% during the forecast period 2022-2032. Polypropylene is expected to emerge as the most sought-after material in the global market, accounting for nearly 60% to 70% of revenue share from 2022 to 2032.
Surging tape backing materials applications in packaging solutions across industries such as electronic & electrical, food & beverage, personal care & cosmetics, confectioneries, home care, and others is expected to favor the growth in the global market
Tape backing materials, also known as tape carrier materials, are substrates that are relatively thin and flexible web-based materials coated with an adhesive to make functional tapes. Among numerous possibilities, the most common backing material are paper, foil, foam, laminates, non-woven fabric, and plastics films such as polyvinyl chloride (PVC) and polypropylene.
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These films are gaining huge popularity as an important raw material for manufacturing adhesive tapes, on account of their favorable attributes such as sealing ability, opacity, graphic reproduction, shelf appeal, resistivity to chemicals, and weather. Thus, increasing usage of tapes across the sectors such as automotive, electrical & electronic, medical, residential, and industrial among others is projected to bolster the sales of tape backing materials in the market.
In addition to this, ongoing expansion of the e-commerce industry and increasing use of adhesive tapes for packaging boxes and other products across the packaging and logistic sectors are anticipated to create lucrative growth opportunities in the global tape backing materials market.
Which are Some Prominent Drivers Spearheading Tape Backing Materials Market Growth?
With increasing obese population and increasing prevalence of lifestyle diseases, a significant rise in incidence of chronic wounds, such as diabetic leg ulcers, post-surgical wounds, and others, is being witnessed across the world. For instance, according to a report by the Mission Regional Medical Center, around 6.9 Mn people across the U.S. are projected to be currently suffering from chronic wounds.
Also, the incidence of cuts, burns, burses, and other acute wounds is growing at a rapid pace, creating demand for medical dressing products. According to the National Library of Medicine, more than 30,000 incidences of burn are reported every day globally, equating to around 11 million new burns every year.
As tape backing materials are extensively used in the production of wound dressing items such as transparent adhesive bandages, medical-grade tapes, and others, increasing burden of chronic and acute wounds is estimated to bolster the sales in the market.
With growing adoption of tapes across diverse industries, leading players in the market are aiming at launching novel water-based, solvent-based, and hot melt tape backing materials as per end use applications such as electrical & electronic, and industrial tapes. This is expected to facilitate the growth in the tape backing materials over the coming years.
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.
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Why is Asia Pacific Excluding Japan Emerging as an Opportunistic Tape Backing Materials Market?
Future Market Insights reveals that Asia Pacific excluding Japan is estimated to account for a significant share in the global tape backing materials market from 2022 to 2032.
Over the past couple of years, a swift rise in production and sales of automotive vehicles is being witnessed across the Asia Pacific, driven by the growing per capita income and increasing customer preference for comfort traveling. For instance, according to a report by the India Brand Equity Foundation, around 26.36 Mn vehicles were manufactured and nearly 21.55 Mn vehicles were sold across India in 2020.
As adhesive tapes made using plastics and rubber tape backing materials are extensively used in wiring, lighting, and other electronic automotive components during vehicle manufacturing, increasing products of automobiles are estimated to favor the sales in the Asia Pacific excluding Japan market.
How is Eastern Europe Contributing to the Growth of the Tape Backing Materials Market?
As per FMI, Eastern Europe is projected to exhibit growth at a robust CAGR in the global tape backing materials market during the forecast period 2022-2032.
With rapidly expanding packaging industry, increasing penetration of e-commerce, and growing inclination towards adopting eco-friendly products across Europe, demand for bio-degradable tapes is increasing at a rapid pace, creating new growth prospects for tape backing materials.
Hence, key companies in the market are aiming at launching novel products to capitalize on the existing opportunities. For instance, in 2022, Ahlstrom-Munksjö, a Finland-based sustainable and innovative fiber-based solutions manufacturer announced launching new tape backing, MasterTape™ Pack Green, made of bio-based material with greater sustainability attributes. A multiplicity of such new product launches are expected to favor the growth in the Eastern Europe market.
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.
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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
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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