Analysis of Backing Material market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Backing materials are made of paper, synthetic backing material and other coated materials, which are used as one of the components in adhesive tapes and to manufacture labels. Backing materials are used in food and beverages industry, pharmaceutical sector and other end-user industries for labeling purposes.
The rise in the packaged food and beverages industry is likely to expand the market for backing materials. Backing materials are used in the adhesive tapes to reduce the cost of labeling and packaging alternatives, as they are a blend of both.
With the increasing developments and innovation among the packaging industry, backing materials are becoming a significant segment in the market as a better product labeling application. The growing packing industry will have a positive impact on the backing material market as demand for labeling adhesive tapes are directly proportional to the need for backing material in the packaging industry.
The rising use of backing material for packaging in the food & beverages industry, chemical industry, the pharmaceutical industry and cosmetics industry is the key drivers for the growth of the global backing material market. Additionally, the properties of backing material such as its ability to stick to adhesives, good binding properties and water resistance due to silicone coatings are likely to increase the demand for backing material in the packaging industry.
The growing use for ready-to-eat food products and ready-to-drink beverages is expected to increase the demand for backing materials over the forecast period. Moreover, the expanding use of consumer products and cosmetics and beauty products will lead to an increase in the use of the backing material.
Furthermore, the backing material market is fragmented due to the presence of local and domestic players. The regional players have also adopted competitive price structure in line with the established manufacturers, resulting in a war for market capture. The established key players are likely to merge and acquire local and domestic backing material manufacturers to expand their presence and sales in the region.
However, a significant change in the labeling substitutes is expected to challenge the growth of the global backing material market during the forecast period.
Geographically, the backing material market has been categorized into seven critical regions: North America, Latin America, Europe, CIS & Russia, Japan, Asia Pacific Excluding Japan, and the Middle East and Africa. The backing material market is expected to register healthy growth during the forecast period due to the expanding food and beverages market across the world.
The Asia Pacific represents a considerably high market share and is increasing at a high growth rate due to rapid industrial developments. The backing material market is steadily increasing with the rising consumption of packaged goods across the globe.
Moreover, North America and Latin America are growing markets due to high per capita income and the demand by consumers for quality packaged products. The backing material market is steadily increasing with the increasing demand for food and beverages, cosmetics and beauty care, and household goods across the globe. The growth of labeling application in electronics and other industries will aid the expansion of the backing material market over the forecast period.
Some of the major players in the backing material market are Fabric Backing & Finishing Company, 3M Company, Bay Tech Label, Inc., QLM label makers, AM Labels Ltd, Rebsons Labels and Label Systems, Inc. among others.
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The backing material market is segmented into different parts based on the material type, end-user industries and geography. Among material types, synthetic backing is commonly used for the manufacturing of labels, adhesive tapes and other products.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Fact.MR
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