The global splicing tapes market size will grow by USD 83.77 million during 2019-2023. This market report provides a detailed analysis of the market by material (acrylic, rubber, silicone, and others) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on many market vendors, including 3M Co., Avery Dennison Corp., Intertape Polymer Group Inc., Nitto Denko Corp., and tesa SE.
Key Insights on Splicing Tapes Market - Global Forecast 2019-2023
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Industry Overview
Splicing tapes have significant applications in industries such as paper and printing, electrical and electronics, and labeling sectors. As they are highly resistant to saltwater, steam, oils, detergents, and chemicals, they are suitable for power cable repair, bottled connections, pipe repair, and cellular towers in the electric and electronics industry. The food and beverages packing industry also uses splicing tapes for manufacturing packaging food containers. Splicing tapes are also used in smartphones, tablets, and laptops. The ubiquitous use of these handheld devices and the growing demand for food and beverages are significantly influencing splicing tapes market growth.
Splicing tapes are also extensively used in electrical manufacturing. They are widely used for insulation, shielding, wrapping, and identification. The growing electrical industry is increasing the sales of splicing tapes. However, vendors are making further improvements in these tapes to enhance their functionality, which will help in increasing sales. Currently, vendors are integrating silicone adhesives into splicing tapes. Silicone-based splicing tapes are chemically passive, non-sticky, non-flammable, non-toxic, and optically clear. As a result, the tapes consume low energy and have effective mechanical interlocking ability with substrates. Vendors also prefer two-sided silicone-based adhesives to manufacture splicing tapes. The splicing tapes market analysis report predicts that as a result of these factors, the market will register a CAGR of over 3% during 2019-2023.
Top Companies in Splicing Tapes Market
The global market is fragmented. To help clients improve their market positions, this splicing tapes market forecast report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. This report also includes information on the upcoming splicing tapes market trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
The report offers a detailed analysis of several leading splicing tapes manufacturers, including:
- 3M Co.
- Avery Dennison Corp.
- Intertape Polymer Group Inc.
- Nitto Denko Corp.
- tesa SE.
Market Segmentation
Splicing Tapes Market by Material
- Acrylic
- Rubber
- Silicone
- Others
The acrylic segment held the largest market share in 2018, and the segment will account for the highest splicing tapes market share over the forecast period as well. Wide use in paper and packaging industries, high resistance to sunlight and water, and the ability to withstand temperature fluctuations will boost the growth of the market segment during the forthcoming years. This report provides an accurate prediction of the contribution of all the segments to the growth of the splicing tapes market size.
Splicing Tapes by Region
- APAC
- Europe
- MEA
- North America
- South America
With a complete study of the growth opportunities for companies, it has been identified that APAC will account for the highest share of the splicing tapes throughout the forecast period. The rapid growth of end-user industries is a major factor influencing splicing tapes industry growth in this region.
Major Highlights of the Splicing Tapes Market - Global Forecast 2019-2023
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the splicing tapes during the next five years
- Precise estimation of the global splicing tapes market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the splicing tapes industry across APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details of factors that will challenge the growth of splicing tapes companies
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