DUBLIN, May 21, 2019 /PRNewswire/ -- The "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" report has been added to ResearchAndMarkets.com's offering.
The global splicing tapes market size was USD 513.57 million in 2017 and is projected to reach USD 593.03 billion by 2023, at a CAGR of 2.37% between 2018 and 2023.
The growth of the market is primarily due to the increasing use of splicing tapes in paper & printing production. APAC accounts for the major share of the overall splicing tapes market due to the increase in demand for printing and writing papers and packaging applications.
However, the environmental regulations related to the production of repulpable paper could act as a major restraint to the market. The market in the developed countries, in regions such as Europe and North America, is expected to decline in the near future, owing to the stagnant nature of their markets.
Growth in the demand for paper/tissue backing material from paper & printing applications is expected to fuel the demand for splicing tapes. Paper/tissue is the most popular backing material used in the manufacturing of splicing tapes because they are easily available, flexible, and offer a high degree of printability. Also, paper/ tissue backing type comes with many attractive features such as UV resistance, repulpability, liner less, and others. Also, paper/tissue can be recycled easily as compared to other backing materials used in splicing tapes.
Electronics is expected to be the fastest-growing application during the forecast period
The splicing tapes are used in tabbing and holding lithium-ion battery and also used in different electronics items for color coding in the electronics industry. The increasing demand for lithium-ion batteries will trigger the splicing tapes market growth during the forecast period. Lithium-ion batteries are gaining prominence as one of the fastest-growing batteries in the global electronic vehicle market.
The splicing tapes market comprises major solution providers, such as 3M Company (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).
Market Dynamics
Drivers
- Growth of Paper Production and Virgin-Fiber Pulp Mills in APAC, Africa, and South America
- Increasing Demand for Repulpable Paper/Tissue in North America, APAC, and Europe
Restraints
- The Process of Making Recycled Paper is Not Hygienic
- Decreasing Paper Consumption in Europe and North America
Opportunities
- Rapid Expansion of the Internet and E-Commerce Business Model
- Expansion of the Pulp & Paper Industry in APAC
- Use of Non-Wood Fiber in Paper Production
Challenges
- Increasing Digitalization and Paperless Reading
Company Profiles
- tesa SE
- 3M Company
- Nitto Denko Corporation
- Avery Dennison Corporation
- Intertape Polymer Group, Inc.
- Scapa Group PLC
- Shurtape Technologies, Llc
- ECHOtape
- Orafol Europe GmbH
- Adhesive Research, Inc.
- Saint-Gobain Performance Plastics
- American Biltrite Inc.
- Industrias Tuk, S.A. De C.V.
- AJIT Industries
- PPI Adhesive Products (C.E) S.R.O
- ACE Tech Korea Co.,Ltd
- Roll Tape S.R.L
- Adirondack Specialty Adhesives
- Specialty Tapes
- Boston Tapes S.P.A
- Teraoka Seisakusho Co., Ltd.
- Fuji Chemical Industrial Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/r20t22
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Media Contact:
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Related Links
http://www.researchandmarkets.com
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article