The report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Splicing tapes market is likely to witness a moderate CAGR of 2.4% during the forecast period. Increasing population and digitalization trends across the globe are the major factors contributing to the demand for splicing tapes during the forecast period..
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Splicing Tapes Market Share: By Backing Material Type
Based on the backing material type, the market is segmented as paper/tissue, PET/polyester, non-woven, and others. The paper/tissue segment held the largest share of the market in 2019, and is expected to remain dominant during the forecast period. These relatively thin and smooth splicing tapes are suitable for paper & printing application. The paper/tissue properties depend majorly on the raw material quality. The demand for raw material also depends on duration and area of application of the splicing tape.
Splicing Tapes Market Share: By Application Type
Based on the application type, the market is segmented as paper & printing, electronics, packaging, labeling, and others. The paper & printing segment dominates the market, and the tapes used in this application can be single-sided or double-sided and re-pulpable and non-repulpable. Splicing tapes are used for flexographic printing, end tabbing, permanent overlapped splices, paper for packaging application, and others. Splicing tapes’ main application is in the paper industry, where they are used during production of paper.
Splicing Tapes Market Share: By Region
In terms of regions, Asia-Pacific is estimated to be the largest as well as fastest-growing splicing tapes market during the forecast period, with China, Japan, and India being the major countries with lucrative growth opportunities. The paper & printing and packaging sectors are growing rapidly in tandem with the rising population, which is a major factor driving the region’s market. Currently, China is one of the largest pulps and paper product manufacturers in the world, and the Chinese manufacturers are creating a highly competitive environment for international trade of paper products by consistently investing in the latest paper manufacturing infrastructure. Manufacturers in the country use numerous advanced technologies and machinery in order to come up with the end products of splicing tapes using different backing materials. The more developed markets such as the US, Germany, Japan, and the UK, are likely to witness staggering growth during the forecast period.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
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