Splicing Tapes Market Scope
The purpose of this report on Splicing Tapes Market analysis is to assist business owners in making crucial decisions regarding which business ideas to pursue. It also aims to present insights into potential improvements, limitations, and factors driving the Splicing Tapes Market for the projected period. The study indicates that the launch of new products can impact sales, either positively or negatively. Through such market research, large corporations can remain informed about the latest trends and gain an accurate estimate of the overall demand for their products.
The splicing tapes market is projected to grow from USD 527 million in 2018 to USD 593 million by 2023, at a CAGR of 2.37% during the forecast period. The report presents and showcases a dynamic vision of the global scenario in terms of splicing tapes market size, market statistics, and competitive situation.
Report provides a comprehensive analysis of the global Splicing Tapes landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and MandA activity. This report also analyzes the strategies of leading global companies with a focus on Splicing Tapes portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Splicing Tapes market.
The splicing tapes market refers to the market for tapes that are used for splicing or joining two different materials together. These tapes are widely used in industries such as automotive, aerospace, electronics, and packaging. The growth of the splicing tapes market is driven by several factors, but it also faces some restraints.
What is Splicing Tapes Industry?
Splicing tapes are specialized adhesive tapes used in various industries to join or splice two different sections of material together, such as paper, film, foil, or fabric. The splicing tapes industry refers to the manufacturing, distribution, and sales of these specialized tapes.
Splicing tapes are commonly used in industries such as printing, packaging, automotive, electronics, and textiles, where the material needs to be continuously fed through a machine or production line. The tape's main purpose is to provide a seamless, secure, and reliable bond that can withstand the stresses of high-speed processing and handling.
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Splicing Tapes Market Drivers Restraints
Drivers:
- Increasing demand for lightweight and high-performance materials in various industries is driving the growth of the splicing tapes market. These tapes offer excellent bonding strength and durability, which is essential for manufacturing lightweight and high-performance products.
- The growing demand for electronic devices such as smartphones, tablets, and laptops is boosting the growth of the splicing tapes market. These tapes are used to join various components of electronic devices, such as touch screens, displays, and batteries.
- The expansion of the automotive industry is also driving the growth of the splicing tapes market. These tapes are used in the manufacturing process of automobiles for joining various parts, such as door panels, windows, and trims.
- The increasing adoption of automation in various industries is also driving the growth of the splicing tapes market. These tapes can be easily integrated into automated manufacturing processes, thereby improving efficiency and reducing production time.
Restraints:
- The high cost of splicing tapes is a significant restraint for the growth of the market. These tapes are relatively expensive compared to other bonding materials such as adhesives and sealants.
- The availability of alternative bonding materials, such as adhesives and sealants, is also a restraint for the growth of the splicing tapes market. These materials offer similar bonding strength and durability as splicing tapes and are often less expensive.
- The environmental concerns associated with the disposal of splicing tapes are also a restraint for the growth of the market. These tapes are not easily biodegradable and can contribute to environmental pollution.
- The lack of awareness about the benefits of splicing tapes among end-users is also a restraint for the growth of the market. Many end-users are not aware of the advantages of using splicing tapes over other bonding materials, which can limit the market's growth potential.
Splicing Tapes Market Key Players
- tesa SE (Germany)
- 3M Company (US)
- Nitto Denko Corporation (Japan)
- Avery Dennison Corporation (US)
- Intertape Polymer Group, Inc. (Canada)
- Scapa Group PLC (UK)
- Shurtape Technologies
- PLC (US), Echotape (US)
- Adhesive Research, Inc. (US)
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Splicing Tapes Market Segmentation
The splicing tapes market can be segmented on the basis of the following criteria:
On the basis of resin
- Acrylic
- Rubber
- Silicone
- Others (Polyurethane and Phenolic)
Acrylic is estimated to be the largest resin segment in the splicing tapes market during the forecast period.
The acrylic segment is expected to account for the largest market share during the forecast period because of its better adhesion to a variety of substrates. Acrylic splicing tapes are designed with high or low tack and high or low peel strength. These tapes are permeable to moisture that is measured by the moisture vapor transmission rate (MVTR).
On the basis of backing material
- Paper/Tissue
- PET/Polyester
- Non-Woven
- Others (PVC, Cloth fiber, PP, PE, and Polyolefin)
Paper/tissue is estimated to be the largest backing material in the splicing tapes market during the forecast period.
The paper/tissue is the most popular backing material used in the manufacturing of splicing tapes. Easy availability, flexibility, and a high degree of printability are driving the demand for paper/tissue backing splicing tapes. Also, paper/ tissue backing tape comes with many attractive features such as UV resistance, repulpablity, and others.
On the basis of application
- Paper Printing
- Packaging
- Labeling
- Electronics
- Others (Floor Covering, Plastic Bonding, Automotive, and Textile)
On the basis of region
- APAC
- North America
- Europe
- South America
- Middle East Africa
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APAC to account for the largest share of the splicing tapes market during the forecast period.
The rising demand for paper in various industries from economies such as Japan, India, China, South Korea, Vietnam, Taiwan, Singapore, among others is contributing to the growth of the APAC splicing tapes market to. China is expected to lead the production and demand for splicing tape due to the increased paper and film production. It is also reportedly among the largest consumers of splicing tapes in the region.
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