Splicing Tapes Market in Developing Countries: Market Potential, Challenges, and Strategies for Growth

 


Industry Analysis

Data Bridge Market Research analyses that the splicing tapes market will witness a CAGR of 2.54% for the forecast period of 2021-2028. Rising demand and use of paper and packaging by the various industries and rising application of splicing tapes by the verticals such as paper and printing, packaging, electronics, labelling, automotive, healthcare and others are the two major factors attributable to the growth of splicing tapes market.  


Market Insights and Scope

Splicing tapes are the tapes that are used to join two surfaces and increase their strength. Splicing tapes are used to ensure continuity in the flow of working by joining the two substrates that acts as a working area. The splicing tapes are generally acrylic, rubber and silicone in nature. Based on the kind of adhesives used, the splicing tapes are manufactured/ produced in many configurations. The splicing tapes can be recycled and reused easily. The splicing tapes are double sided tapes in order to provide maximum strength and durability when joining the two substrates.

Rising application of splicing tapes by the paper and packaging industry is responsible for propelling growth in the market value. Increased demand and application of splicing tapes by the other industry verticals is another important market growth determinant. Rapid emergence of e-commerce platforms as a result of increased digitization is also responsible for fostering the growth in the demand for splicing tapes globally. The growing trend of acrylic resins in the automobile sector will further create lucrative growth opportunities for the splicing tapes market.


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