According to the current analysis of Reports and Data, the global splice tape market was valued at USD 564.5 Million in 2020 and is expected to reach USD 667.2 Million by 2028, at a CAGR of 2.10%. The study covers splicing tapes, a sticky paper like substance used to join the end of a web or roll of a material to the beginning of a web or roll of another new material to make the manufacturing process continual which in turn prevents rethreading the new roll through the machine or press, saving valuable down time.
Rising printing and labeling industry, growth of
digitization, rise in number of electronic manufacturers, significant focus of
splice tape companies on development of better technology, availability of
public as well private funds for research, and favorable regulatory scenario,
are some of the key factors propelling market growth in the industry. However
the environmental regulations related to the production of reliable paper could
act as a major restraint to the market. The market in the developed countries,
in regions such as Europe and North America, is expected to decline in the near
future, owing to the stagnant nature of their markets. These factors may further
hamper the market during the forecast period.
Key participants are include 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), ECHO tape (US), and Adhesive Research, Inc. (US)
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Digitalization of shopping has spiked the demand of
packaging and labelling which propels the demand for splicing tapes. Paperboard
packaging have recently been gaining consumer and producer attraction since
they have been shown to be more sustainable packages instead of other packages
like metal and plastic for food & beverages, manufacturing, healthcare,
personal care, and other industries which is also driving the splicing tapes
market.
For the purpose of this report, Reports and Data has
segmented the splice tape market on the basis of by resin type, backing
material, application and region:
By Resin Type (Revenue in USD Million;
Volume in Tons, 2018-2028)
- Acrylic
- Rubber
- Silicone
- Others
By Backing Material (Revenue in USD
Million; Volume in Tons, 2018-2028)
- Paper/Tissue
- Pet/Polyester
- Non-Woven
- Others
By Application (Revenue in USD Million;
Volume in Tons, 2018-2028)
- Paper
& Printing
- Electronics
- Packaging
- Labeling
- Others
By Regional Outlook (Revenue in USD
Million; Volume in Tons, 2018-2028)
- North
America
- Europe
- Asia
Pacific
- Middle
East & Africa
- Latin
America
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Further
key findings from the report suggest
- Splice
tape market is growing at a CAGR of 2.8% in Asia Pacific followed by North
America and Europe, with 2.1% and 1.9% CAGR, respectively. Rise in paper
packaging and labeling is the key factor to accelerate the market growth
during forecast period across all regions.
- As
of 2018, the acrylic resin type dominated the market accounting for 29.1%
of the revenue market share and is also projected to maintain its
dominance during the forecast period due to its constant technological
advancements and its high adoption by industrialists
- On
the basis of end use, the electronic segment is expected to be the fastest
growing market segment during forecast period 2019-2026 with a CAGR of
3.2%
- On
the basis of end use, paper & packaging segment dominated the market
holding 41.3% of the market share
- Asia
Pacific dominates the market, expecting to account for the 43% of the
market share. China is the largest manufacturer of splice tapes in the
world…Continued
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