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Flatback Tapes Market Projected to Register 5.8%CAGR through 2027

03-30-2018 09:11 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Future Market Insights

/ PR Agency: Future Market Insights
Flatback Tapes Market Projected to Register 5.8%CAGR through

Future Market Insights (FMI) has published a new report on flatback tapes. The report has been titled “Flatback Tapes Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 – 2027.” The report states that faltback tapes have very limited applications as these tapes are mostly used in sectors such as automotive, paper industry, electronics, and packaging. Flatback tapes have smooth paper backing (which is not creped). Creped tapes are a different form of tapes altogether and they have a larger application base as compared to flatback tapes.

Rubber, acrylic, silicon are commonly used as adhesives. The thickness of the tape varies from 2.5 Mil to 15 Mil. These tapes possess high basis weight, so they can withstand high loads. These tapes are hand tear-able, which makes the manufacturing process simpler and convenient. These tapes have large thickness compared to crepe tapes, but very little elongation, from 2% to 4% mostly. Flatback tapes are commonly used in splicing, packaging and masking applications. Manufacturers are trying to innovate flatback tapes so that they can increase its application base. For instance, in April 2016, the 3M Company introduced a hand tear masking tape under the brand name ‘Scotch Blue PLATINUM’ for painting applications and better performance. Along this line, in July 2016, Intertape Polymer Group Inc. launched ultra-thin washi paper backed moisture resistant masking tape under the brand name FineLine for achieving better performance while painting.

The other companies operating in the market are Shurtape Technologies LLC, tesa SE Group, Nitto Denko Corp, Scapa Group plc. and Pro Tapes & Specialties, Inc., among several others. According to the report, the global flatback tapes market is expected to witness a CAGR of 5.8% from 2017 to 2027. The market was worth US$ 858.1 Mn in 2017 and is expected to touch a valuation of US$ 1,505.1 Mn by the end of 2027.

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Returning Confidence of Consumers in Retail to Boost Global Market Growth

Regional optimism is rising in North America and Western Europe; is decreasing in regions such as Latin America and the Middle East & Africa; and holds steady in Asia Pacific. India, Brazil, and China represent the highest consumer confidence. The revival of consumer confidence is aiding in the growth of the automotive, FMCG, electronics, and other industries, where flatback tapes are used for the purpose of splicing, sealing, tabbing and masking applications. The flatback tapes market is moderately correlated with these end use industries as it follows the dynamics of these industries. Countries in Asia Pacific such as India, Indonesia, Philippines, China, Thailand and Honk Kong represent the highest consumer confidence due to high annual GDP growth rates and improving lifestyles of the people. Some countries in MEA such as UAE and Saudi Arabia also represent considerable consumer confidence in their markets.

Flatback tapes are made from paper material, which is biodegradable and highly recyclable. The rising intolerance towards plastic is favouring the demand for flatback tapes. Substitute products for flatback tapes are largely made of plastic, which are expected to create landfill issues. Thereby, implementation of regulations pertaining to environment friendliness, plastic usage and waste dumping in manufacturing industries and other businesses is influencing consumers to choose paper backed tapes such as flatback tapes.

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.

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ABOUT US:
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.

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Email: sales@futuremarketinsights.com
Website :www.futuremarketinsights.com

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