Splicing Tapes Market by Material and Geography - Global Forecast and Analysis 2019-2023
Global Splicing Tapes Market: About this market
Splicing tapes are adhesive tapes with single or double layers of the adhesive coating. Technavio’s splicing tapes market analysis considers sales from acrylic, rubber, silicone, and others. Our analysis also considers the sales of splicing tapes in APAC, Europe, North America, South America, and MEA. In 2018, the acrylic segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as wide use in paper and packaging industries and high resistance to sunlight and water will help the acrylic segment to maintain its market position. Also, our global splicing tapes market report looks at factors such as growing end-user industries, increasing demand from developing regions, and increasing electrical manufacturing in APAC. However, fluctuations in raw material prices, stringent environmental regulations, and slow growth of end-user industries in developed countries may hamper the growth of the splicing tapes industry over the forecast period.
Global Splicing Tapes Market: Overview
Growing end-user industries
The major application segments of splicing tapes are the paper and printing, packaging, electric and electronics, and labeling industries. Paper and paperboard packaging are popular in the food and beverage, personal care, and manufacturing industries. The demand for splicing tapes is growing in the electrical and electronic application. These tapes are highly resistant to salt water, steam oils, detergents, and chemicals and are thus suitable for electrical and electronics applications. Thus, suitable for power cable repair, bolted connections, pipe repair, and cellular towers. The global food and beverage packaging industry are projecting a demand for splicing tapes for manufacturing packaging food containers. This demand from end-users will lead to the expansion of the global splicing tapes market at a CAGR of over 3% during the forecast period.
Increasing use of silicone adhesives in splicing tapes
The adoption of silicone-based splicing tapes is increasing because of the widespread application of these tapes in the electric and electronic segment. Silicone is mainly used to modify the rheological properties of splicing tapes. It is chemically passive. non-sticky, non-flammable, non-toxic, and optically clear. Silicone-based adhesives, particularly two-sided silicone-based adhesives, are widely preferred for manufacturing tape. Due to silicone-based adhesive's efficient rheological properties, silicone protects the adhesive and restricts interaction between the paper or film and the adhesive. This increasing use of silicone adhesives in splicing tapes is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global splicing tapes market during the forecast period 2019-2023, click here.
With the presence of several major players, the global splicing tapes market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading splicing tapes manufacturers, that include 3M Co., Avery Dennison Corp., Intertape Polymer Group Inc., Nitto Denko Corp., tesa SE.
Also, the splicing tapes market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.