Between 2022 and 2032, the global market for splicing tapes is anticipated to expand at a CAGR of 4.8%. By 2032, the market is expected to have grown from US$ 603 million in 2022 to US$ 968 million. The global splicing tapes market is projected to account for about 2% of the global packaging tapes market, valued at US$ 71.7 Bn, in 2021. The splicing tapes market was valued at US$ 575 Mn at the end of 2021 and is anticipated to have year-over-year (Y-o-Y) growth of 4.1% in 2022.
According to recently published splicing tapes market analysis data, the global demand for the entire paper backing splicing tapes sector grew by 5.6% YoY in 2021 to reach US$ 351 Mn.
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Competitive Landscape
With presence of several leading companies, the worldwide splicing tapes market is extremely fragmented and competitive. Key players use a variety of marketing techniques, including mergers & acquisitions, expansions, collaborations, and partnerships.
Major competitors in the splicing tapes market are players like
- 3M Company,
- Windmill Tapes and Labels Ltd,
- Bron Tapes, Inc.,
- Le Mark Group,
- Intertape Polymer Group,
- Irplast S.p.A.,
- Shurtape Technologies, LLC,
- Avery Dennison Corporation,
- Berry Global Group,
- Sonoco Products Company,
- PPM Industries SpA,
Pro Tapes & Specialities Inc., Kruse Adhesive Tape, Inc., tesa SE Group, and Spark Adhesives.
2015-2021 Splicing Tapes Market Outlook Compared to 2022-2032 Forecast
Global splicing tapes are distinct adhesive tapes utilized in varied end use industries such as manufacturing, packaging, and paper & printing. The efficacy of these splicing tapes is improving due to specialty-formulated adhesive that has an instant bond to innumerable surfaces.
Global splicing tapes market grew at a CAGR of 3.9% during historic period of 2015-2021. Emergence of various market players and product innovations is one of the key factors propelling the growth in the market.
However, preference for liquid adhesive solutions might limit the sales of splicing tapes. According to FMI, the market is expected to witness growth owing to the growing adoption of sustainable backing material and improved usage of splicing tapes in industrial sectors.
With the advent of advanced machine learning technology and robotics in industrial sector, the market for global splicing tapes will witness lucrative growth opportunities over the forecast period (2022-2032).
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Which region in the market for slicing tapes is the most lucrative?
The market for splicing tapes in Europe is anticipated to account for a significant portion of demand—nearly 1/4th—during the forecast period. Splicing tapes are becoming more and more necessary across the UK’s diverse manufacturing sectors. Germany will help the market grow.It has been noted that the market for paper-backed splicing tapes in Europe is anticipated to account for about 2/5 of the market between 2022 and 2032. The market for splicing tapes in North America then held 20% of the market in 2021, and this trend is projected to continue into 2022 and beyond.
Global Splicing Tapes Market by Category
By Backing Material Type:
- Paper Tissue
- Polyester
- Non-Woven
By Resin Type:
- Acrylic
- Rubber
- Silicone
By Application:
- Manufacturing
- Packaging
- Paper & Printing
By Region:
- North America
- Latin America
- Europe
- Middle east and Africa
- East Asia
- South Asia
- Oceania
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