Flatback Tapes Market By Adhesive (Acrylic, Silicon, Rubber, and Others), Product (Single Side, and Double Side), Application (Splicing, Packaging, Masking, and Tabbing), Thickness (< 10 Mil, 10 Mil to 15 Mil, and > 15 Mil) & Region - Forecast to
The market for flatback tapes is anticipated to reach USD 1.5 billion by 2027, at a CAGR of 5.9% from 2022 to 2027, from an estimated USD 1.1 billion in 2022. According to Future Market Insights’ Annual Market Analysis of the flatback tapes market, the silicon and rubber sectors will bring in a combined total of USD 980 million in 2022.
The FMI team also projects that during the forecast period, the China flatback cassettes market will expand by 8.5% year over year, surpassing initial scepticism regarding how the sector would fare in the event of a global pandemic. In 2022, it is anticipated that flatback tape sales throughout Asia-Pacific, excluding Japan, will total USD 517.9 million.
Flatback Tapes Market – Country-Wise Insights
How will Germany Drive the Market for Masking Tapes?
Germany will hold market share of around 26% for the Western Europe flatback tapes market in the year 2022. The penetration of the various industrial sector coupled with increased usage of semiconductor equipment in the manufacturing sector, the demand for flatback tapes is anticipated to propel during the forecast period.
The increasing growth of the electrical & electronic industry in Europe augment the sales of flatback tapes. According to the European Adhesive Tape Association (Afrea), the electronic sector holds 16% of the total speciality tape market. This indicated that the growing electrical and electronics industry in European countries increases the demand for flatback tapes.
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Why the Rubber Adhesive Segment is considered to be the Most Lucrative Segment in Flatback Tapes Market?
Based on the adhesive, the rubber segment holds the largest share of the market. The targeted segment is anticipated to hold around 68% of the market share in 2022. The reason behind the same is the rubber adhesive costs low compared to all other adhesives. Due to its high tacking strength, low cost and high product life it is extensively used in flatback tapes manufacturing.
Why the Splicing is the Leading Segment based on Application in the Global Flatback Tapes Market?
Based on application, the splicing segment is estimated to remain the leading segment among the other segment and shall grow at a CAGR of 6.5% during the forecast period. The same segment is estimated to hold around 38% of the market share in 2022. Moreover, masking segment is estimated to hold around 31% of the market share in North America followed by japan in 2022.
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.
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Key Companies Profiled
Flatback Tapes Market By Category
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About Future Market Insights, Inc. Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Aw
Dec 28, 2022
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