Splicing Tapes Market Forecast and CAGR
Demand from the paper & printing sector and packaging industries are expanding at a rapid pace, due to increase in publication and digital print industry across the globe, and other critical factors are the driving factors of Splicing Tapes, it is forecasted that the market will show a CAGR of 2 to 3% in the forecast period 2021-2031. Historically, the market saw steady growth in the historical 5 years, with 2020 creating a plunge in sales, yet the market is projected to show an optimistic growth outlook in the long run.
What is Driving Demand?
Printing technology was witnessed a significant change from traditional offset print to roto-gravure print eventually end-users shifting towards digitization. Digitized printing has been found effective for printing non-paper-based substrates such as polymer tapes and films.
In addition, customers are becoming more interested in paperboard packaging which is being used in a plethora of end-use verticals such as food and beverage, health care, consumer appliances, personal care, and others. Furthermore, packaging specific to e-commerce is a dominating factor of splicing tapes and this is likely to withstand over the forecast period 2021-2031.
These tapes are also used in tabbing and holding lithium-ion batteries. Moreover, in the electronics industry, they are used in different electronics items for color coding. During the forecast period, the market for splicing tapes is expected to be driven by rising demand for lithium-ion batteries. Environmental rules governing the manufacturing of re-pulpable paper, on the other hand, may operate as a key market restraint in the near future.
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Splicing Tapes Market Dynamics
In recent years, investments in the global paper business have expanded. Svenska Cellulosa Aktiebolaget (SCA), for example, doubled its capacity to make packaging paper with a white surface and white-top kraft liner in its Munksund mill in December 2017.
Indian industry to invest more than $ 3.15 billion in Egypt, which was declared at a virtual inaugural session themed “India – Egypt Business Promotion, Challenges, and Opportunities” of the 3P Egypt International Expo 2021 which was held between June 15-16, 2021. Indicating the largest source of cash, keeping the market always hot round the year.
ASEAN Market Outlook
During the projected period, ASEAN is expected to be a key contributor to the South Asia & Pacific splicing tapes market. In recent years, ASEAN has made major investments in the packaging sector.
Plastic packaging demand is increasing in tandem with the developing packaged and processed food and beverage industry, which is bolstered by the modern retail and e-commerce sectors.
With Thailand on the edge of becoming the most well-developed and advanced food processing industry in the region, with more than 10,000 processing plants of plastic production, creates most of the demand for the tapes.
Indonesia coming just behind Thailand with food packaging accounting for a majority of the country's plastic consumption. Malaysia and Vietnam are other large contributors to the market with the advent of food & beverage, pharmaceutical industry, etc.
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East Asia Market Outlook
In East Asia, countries such as China and Japan are anticipated to account for significant shares in the market, as these countries have prominent manufacturers wherein, the paper & printing and packaging sectors are growing rapidly in them, with the rising population, which is a major factor driving the region’s market.
China is currently one of the world's largest pulp and paper product manufacturers, and Chinese manufacturers are continually investing in the most up-to-date paper manufacturing infrastructure, resulting in a highly competitive market for international paper product commerce. Manufacturers in the region employ a variety of innovative technologies and machinery to produce splicing tapes with a variety of backing materials.
Who are the Key Manufacturers and Suppliers of Splicing Tapes?
Some of the leading manufacturers and suppliers of Splicing Tapes are
- Nitto Denko Corporation
- Avery Dennison Corporation
- Scapa Group Plc.
- tesa SE
- Intertape Polymer Group Inc.
- Shurtape Technologies LLC
- Europe Gmbh
- Adhesive Research Inc.
An Adaptive Approach to Modern-day Research Needs
Splicing Tapes Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
- Others (epoxy, polyurethane, etc.)
- Paper & Printing
By Backing Material
- Filmic (PET/polyester/PVC/PP)
- Others (Foam, Fabric, etc.)
- North America
- East Asia
- South Korea
- South Asia and Pacific
- ASEAN Countries
- Latin America
- Middle East and Africa
- GCC Countries
- Northern Africa
- South Africa
- North America
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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 the company.
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