LONDON--(BUSINESS WIRE)--The global splicing tapes market is expected to post a CAGR over 3% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report.
The major application segments of splicing tapes are the paper and printing, packaging, electric and electronics, and labeling industries. Paper and paperboard packaging is popular in the food and beverage, personal care, and manufacturing industries. Also, the demand for splicing tapes is growing in electrical and electronic manufacturing as these tapes are highly resistant to saltwater, steam, oils, detergents, and chemicals. Moreover, they are also widely used in power cable repair, bolted connections, pipe repair, and cellular towers. Thus, growth of the end-user industries will drive the growth of the global splicing tapes market during the forecast period.
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As per Technavio, the increasing use of silicone adhesives in splicing tapes will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Splicing Tapes Market: Increasing Use of Silicone Adhesives in Splicing Tapes
The adoption of silicone-based splicing tapes is increasing because of the widespread adoption of these tapes in different segments. Silicone is mainly used to modify the rheological properties of splicing tapes as it protects the adhesive and restricts interaction between the paper or film and the adhesive. Moreover, it is chemically passive, non-sticky, non-flammable, non-toxic, and optically clear. These features widen its application as a substrate for different applications, such as electric and electronics, paper, and film. Therefore, due to such factors, the market for splicing tapes is expected to showcase a positive outlook during the forecast period.
“Apart from the increasing use of silicone adhesives in splicing tapes, the rising demand for eco-friendly products and the growing adoption of sustainable product manufacturing by vendors are some other major aspects that will boost market growth during the forecast period,” says a senior analyst at Technavio.
Global Splicing Tapes Market: Segmentation Analysis
This market research report segments the global splicing tapes market by material (acrylic, rubber, silicone, and others) and geographical regions (APAC, Europe, North America, South America, and MEA).
The APAC region led the market in 2018, followed by Europe, North America, South America and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market and register the highest incremental growth due to the rapid growth of end-user industries in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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