Splicing Tapes Market To Witness A Healthy Y-O-Y Growth During 2021-2031

Splicing Tapes Market Forecast and CAGR

Demand from the paper & printing sector and packaging industries are expanding at a rapid pace, due to increase in publication and digital print industry across the globe, and other critical factors are the driving factors of Splicing Tapes, it is forecasted that the market will show a CAGR of 2 to 3% in the forecast period 2021-2031. Historically, the market saw steady growth in the historical 5 years, with 2020 creating a plunge in sales, yet the market is projected to show an optimistic growth outlook in the long run.

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What is Driving Demand?

Printing technology was witnessed a significant change from traditional offset print to roto-gravure print eventually end-users shifting towards digitization. Digitized printing has been found effective for printing non-paper-based substrates such as polymer tapes and films.

In addition, customers are becoming more interested in paperboard packaging which is being used in a plethora of end-use verticals such as food and beverage, health care, consumer appliances, personal care, and others. Furthermore, packaging specific to e-commerce is a dominating factor of splicing tapes and this is likely to withstand over the forecast period 2021-2031.

These tapes are also used in tabbing and holding lithium-ion batteries. Moreover, in the electronics industry, they are used in different electronics items for color coding. During the forecast period, the market for splicing tapes is expected to be driven by rising demand for lithium-ion batteries. Environmental rules governing the manufacturing of re-pulpable paper, on the other hand, may operate as a key market restraint in the near future.

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Splicing Tapes Market Dynamics

In recent years, investments in the global paper business have expanded. Svenska Cellulosa Aktiebolaget (SCA), for example, doubled its capacity to make packaging paper with a white surface and white-top kraft liner in its Munksund mill in December 2017.

Indian industry to invest more than $ 3.15 billion in Egypt, which was declared at a virtual inaugural session themed “India – Egypt Business Promotion, Challenges, and Opportunities” of the 3P Egypt International Expo 2021 which was held between June 15-16, 2021. Indicating the largest source of cash, keeping the market always hot round the year.

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Key Segments

• By Resin
  • Acrylic
  • Rubber
  • Silicone
  • Others (epoxy, polyurethane, etc.)
• By Application
  • Paper & Printing
  • Packaging
  • Electronics
  • Labeling
  • Others
• By Backing Material
  • Paper/tissue,
  • Filmic (PET/polyester/PVC/PP)
  • Non-woven
  • Others (Foam, Fabric, etc.)
• By Region
  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • Italy
    • France
    • U.K.
    • Spain
    • BENELUX
    • Russia
    • Nordics
  • East Asia
    • China
    • Japan
    • South Korea
  • South Asia and Pacific
    • India
    • ASEAN Countries
    • Oceania
  • Latin America
    • Brazil
    • Mexico
  • Middle East and Africa
    •  GCC Countries
    •  Turkey
    •  Northern Africa
    •  South Africa

For More Insights- https://www.einpresswire.com/article/556865366/higher-demand-for-renewable-products-will-increase-the-market-for-bio-based-propylene-glycol-over-the-forecast-period

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