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.
Acrylic is estimated to be the largest resin segment in the splicing tapes market during the forecast period.
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.
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Paper/tissue is estimated to be the largest backing material in the splicing tapes market during the forecast period.
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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APAC to account for the largest share of the splicing tapes market during the forecast period.
The rising demand for paper in various industries from economies such as Japan, India, China, South Korea, Vietnam, Taiwan, Singapore, among others is contributing to the growth of the APAC splicing tapes market to. China is expected to lead the production and demand for splicing tape due to the increased paper and film production. It is also reportedly among the largest consumers of splicing tapes in the region.
Major vendors in the splicing tapes market include 3M (US), Nitto Denko Corporation (Japan), Avery Dennison Corporation (US), Scapa Group Plc (US), tesa SE (Germany), Intertape Polymer Group, Inc. (Canada), Shurtape Technologies, Llc (US), ECHOtape (US), Orafol Europe Gmbh (Germany), and Adhesive Research, Inc. (US).
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