Global Splicing Tapes Market to Witness 4.8% CAGR from 2022 to 2032, Projected to Reach US$ 968 Million by 2032

According to Future Market Insights (FMI), the global splicing tapes market is expected to witness growth at a steady 4.8% CAGR between 2022 and 2032. The sales in the splicing tapes market are projected to reach a valuation of US$ 603 Mn in 2022. Growth in the market is underpinned by rising application of paper splicing tapes in industrial sectors.

In the industrial sectors, the market is likely to witness growth on the back of growing preference for sustainable backing materials. Hence, end users are increasingly adopting the paper backing splicing tapes to cater to the growing demand.

Consequently, manufactures in the splicing tapes market are capitalizing on this existing trend and developing creative and innovative packaging solutions. Some of the leading companies are introducing paper backing splicing tapes with rubber as the most preferred resin type.

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Key Takeaways from Global Splicing Tapes Market

*The paper tape segment is expected to account for ~60% of demand share during the forecast period, creating an incremental opportunity of US$ 571.6 Mn in 2032.
*Based on application, manufacturing segment will expand at a CAGR of 4.3% over the assessment period.
*China splicing tapes market is poised to expand at a CAGR of 4.3% during the forecast period.
*South Asia is anticipated to be the most attractive region for the splicing tapes during the forecast period. This is attributed to the increasing penetration of splicing tapes in paper, tube & core industries.
*Rubber is a popular resin in the splicing tapes market and is predicted to grow at a CAGR of 4.4% between 2022 and 2032.

"Splicing tapes are gaining significant traction in the manufacturing industries attributing to better adhesion to a variety of substrates. As splicing tapes can be removed without leaving adhesive residue, its consumption in packaging industry is expected to increase significantly." Says FMI Analyst.

Global Splicing Tapes Market by Category

By Backing Material Type:

Paper Tissue
Polyester
Non-Woven

By Resin Type:

Acrylic
Rubber
Silicone

By Application:

Manufacturing
Packaging
Paper & Printing

Global Splicing Tapes Market Landscape

Splicing Tapes have varied key players in the some of them are 3M Company, Shurtape Technologies LLC, Tesa SE, Saint-Gobain Tape Solutions Europe, Nitto Belgium NV, Advance Splicing Splicing tapes International Ltd., PPM Industries S.p.A, Vibac Group S.p.a, Intertape Polymer Group Inc., Berry Global, Inc., Beorol d.o.o, Folsen Splicing Splicing tapes, FABO s.p.a., Scapa Industrial, Cintas Adhesivas Ubis, S.A., MBK Tape Solutions, NADCO® Splicing Splicing tapes & Labels, Inc., Pro Splicing Splicing tapes & Specialties, Inc., Sicad Group and PPI Adhesive Products Limited.

Global Splicing Tapes Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the global market for global splicing tapes market by material type (paper, pet/polyester, non-woven, others (PVC, fibre, pp, pe)), by resin (acrylic, rubber, silicone), by application (manufacturing, packaging, paper & printing) , by region (North America, Latin America, Europe, South Asia, East Asia, Middle East and Africa)

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Key questions addressed by the report

*What are the major developments impacting the market?
*What are the upcoming technologies in the splicing tapes market?
*What will be the major factors impacting market growth during the forecast period?
What are the driving factors, opportunities, *restraints, and challenges that affect the growth of the market?
*Will the downfall of the paper & pulp industry negatively affect the market?

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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

This release was published on openPR.