The Packaging Splicing Tapes Market is expected to reach USD 661.7 Million by 2026, according to a new report by Reports and Data. The global Packaging Splicing Tapes Market is principally driven by the growing demand from the paper printing sector. Paper printing and packaging industries are growing at a rapid pace, due to the rise in population and digitization across the globe.
Splicing tapes are utilized in tabbing and holding of lithium-ion batteries. They are used in various electronics items for color coding in the electronics industry. The growing demand for lithium-ion batteries is expected to encourage the Packaging Splicing Tapes Market during the forecast period.
Top Companies Operating in the Global Packaging Splicing Tapes Market:
3M, Avery Dennison Corporation, Nitto Denko Corporation, Scapa Group Plc, Intertape Polymer Group, Inc., Tesa SE, Shurtape Technologies, Llc, Orafol Europe Gmbh, and Adhesive Research, Inc.ECHOtape.
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Further key findings from the report suggest
- The Packaging Splicing Tapes Market is estimated to reach USD 661.7 Million by 2026, at a CAGR of 2.7% during the forecast period.
- Digitalization method has pushed the market of online shopping, which has developed a trend for packaging and labeling.
- Increasing demand for splicing tapes in the paper printing and packaging industries is because of the expansion in population and digitalization in various parts of the globe.
- The acrylic resin accounts for the largest share of 37.7% of the market in 2018.
- The trend of Acrylic resin type is expanding owing to technological innovations in the automobile industries and electronics industries. Adhesive technology maturity is also leading to replacing functional technologies for bonding and increasing applications for specialty tapes in binding and adhering.
- The paper/tissue material segment is anticipated to grow at the highest rate of 3.2% during the forecast period.
- The paper printing end user accounts for the largest share of 27.3% of the market in 2018.
- The paper printing and packaging sectors are increasing with the growing population, which is one of the significant factors driving the Packaging Splicing Tapes Market. The market in India, China, and other swiftly developing countries are expected to observe the fastest growth.
- The Asia Pacific region accounts for the largest market share of 26.3% of the market in 2018 and is expected to provide lucrative growth towards the global market, due to the presence of prominent manufacturers leading massive demand in the region.
- Various players are developing strategies to mark their presence in the industry.
- For example, Lee Man Paper Manufacturing Ltd. announced an investment in a new packaging paper mill in October 2018, having 700,000 tons capacity in Malaysia.
- Oji Holdings Corporation built a new plant in Vietnam in March 2018 and expanded the production capacity at two of its existing box plants in Malaysia to satisfy the increasing demand for corrugated containers.
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Packaging Splicing Tapes Market Segmentation
Resin Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
- Acrylic
- Rubber
- Silicone
Material Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
- Paper/Tissue
- Pet/Polyester
- Non-Woven
End User Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
- Paper Printing
- Electronics
- Packaging
- Labeling
- Others
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The Packaging Splicing Tapes Market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Packaging Splicing Tapes Market.
The global Packaging Splicing Tapes Market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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