Pune, India – 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.
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.
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.