Splicing Tapes Market worth $593 million by 2023 | Key players 3M, Nitto Denko Corp, Avery Dennison Corp, Scapa Group Plc, tesa SE

According to recent market research "Splicing Tapes Market by Resin (Acrylic, Rubber, Silicone), Backing Material (Paper/Tissue, Pet/Polyester, Non-Woven & Others), Application (Paper & Printing, Packaging, Electronics, Labeling), and Region - Forecast to 2023", The splicing tapes market is projected to grow from USD 527 million in 2018 to USD 593 million by 2023, at a CAGR of 2.37% during the forecast period.

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The acrylic segment is expected to account for the largest market share during the forecast period because of its better adhesion to a variety of substrates. Acrylic splicing tapes are designed with high or low tack and high or low peel strength. These tapes are permeable to moisture that is measured by the moisture vapor transmission rate (MVTR). Acrylic splicing tapes release off from body or skin without leaving adhesive residue. These tapes suit both pulpable and non-repulpable paper production process.

The paper/tissue is the most popular backing material used in the manufacturing of splicing tapes. Easy availability, flexibility, and a high degree of printability are driving the demand for paper/tissue backing splicing tapes. Also, paper/ tissue backing tape comes with many attractive features such as UV resistance, repulpablity, and others. Repulpable paper/tissue tape line can be recycled without contamination of the broke pulp for use in paper mills, converters, newspapers, and web printers for roll closing/tabbing and splicing.

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The splicing tapes market size is projected to grow from USD 527 million in 2018 to USD 593 million by 2023, at a CAGR of 2.37% during the forecast period. The global paper & printing industry is undergoing a rapid transformation and plays a significant role in driving the splicing tapes market globally. Splicing tapes are used in the production of paper, films, label, and packaging products (such as corrugated boxes, paperboards, or envelopes). However, the environmental regulations related to the paper & pulp sector could act as a major constraint. The developed countries, in regions such as Europe and North America, are anticipated to cut back on the growth level in the near future, owing to the stagnant nature of their markets.

The key players of the market 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), Echotape (US), and Adhesive Research, Inc. (US). New product launch has been the most dominating strategy adopted by major players between 2015 and 2018, which helped them broaden their customer base.

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In-line with the rising demand for splicing tapes, tesa has been working to deliver efficient splicing tape products to various applications in the paper & printing industry. This company operates through business segments, namely, Direct Industries and Trade Markets. Direct Industries caters to various end-use industries such as automotive, electronics (mobile phones and laptops), paper & printing, and building & construction. The Trade Markets division is further divided into two segments, namely, General Industrial Markets (adhesive solutions for packaging, tapes required during transporting, assembling, and repairing products) and Consumer & Craftsmen (product solutions required for daily use in homes, offices, and crafts). The company launched a new product called tesa Easy Splice in Feb 2018 which is used in the paper & printing industry to increase output volume and reduce the change over time. Through the strategy of new product launch, the company is able to cater to the demands of a wide range of industries, especially from APAC. This will boost the growth of the company and, also, its splicing tapes business, globally.

The second-most active company in the market is 3M Company. The company operates through five business segments, namely, industrial, safety & graphics, electronics & energy, health care, and consumer. It manufactures splicing tapes for varied applications through its electronics & energy segment. Its splicing tapes products in the paper & printings application have global brand recognition. The company has planned to adopt organic and inorganic strategies such as new product launch, investment & expansion, and merger & acquisition in the future which will surely increase its presence and revenue globally.

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