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 market for splicing tapes had a value of US$ 575 Mn at the end of 2021 and is projected to expand by 4.1% Y-o-Y in 2022.
The report conducts in-depth analysis into factors causing the change in consumer behavior and purchasing patterns. It also provides refined sales projections to assist market players in identifying remunerative segments.
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The Advent of Sustainable and Intelligent Packaging Solutions Skyrocketing the Demand for Splicing Tapes
With rising environmental concerns and the implementation of stringent regulations regarding the use of plastic across the U.S., China, India, the U.K., Germany, and others, a substantial rise in the adoption of sustainable packaging solutions is experienced across various end use industries.
In accordance to this, numerous packaging companies are shifting their focusing of manufacturing sustainable packaging using 100% recycled plastics, biodegradable plastics, and plastic alternatives such as paper. Hence, introduction of novel sustainable packaging solutions is expected to create lucrative demand opportunities in the market.
Also, emergence of intelligent packaging with the integration of artificial intelligence (AI), internet of things (IoT), and data science have improved the demand for Splicing Tapes market. Hence, key players are incorporating novel technologies such as AI and IoT to increase their revenues, propelling the sales.
Key Splicing Tapes Market Takeaways and Projections
- The U.S. is expected to lead the North America Splicing Tapes market, projecting the fastest growth in the region between 2022 and 2032
- Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2032.
Report Benefits & Key Questions Answered
- Splicing Tapes Historical Market Analysis: The detailed survey by FMI, examines key factors in the Splicing Tapes market that affected the growth in the market for the last assessment period 2016-2020 and also studies their consequent impact. It also provide refined the sales projection of the Splicing Tapes market for the forecast period 2022-2032.
- Splicing Tapes Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Splicing Tapes for the assessment period. As per the study, the demand for Splicing Tapes will grow at a robust CAGR between 2021 and 2032.
- Splicing Tapes Market Trend Analysis: The latest study by FMI on the Splicing Tapes market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.
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Competitive Landscape Analysis
The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of Splicing Tapes market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.
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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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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