“The foam tape market is projected to register a CAGR of 6.83% between 2018 and 2023, in terms of value.”
The foam tape market is projected to grow from USD 7.44 billion in 2018 to USD 10.35 billion by 2023, at a CAGR of 6.83% between 2018 and 2023. The rising demand for foam tape across various end-use industries such as electrical & electronics, building & construction, automotive, and paper & printing is expected to drive the foam tape market. The increasing environmental concerns and the growing number of regulatory policies have propelled the manufacturers of foam tape to focus on the development of eco-friendly products. Volatile raw materials prices are acting as a restraint to the growth of the foam tape market. The rising costs of foam types such as acrylic and PE across the globe are affecting the foam tape market. Most of the raw materials used in the development of foam tape are petroleum-based derivatives that are vulnerable to fluctuations in commodity prices.
“Automotive is expected to be the largest end-use industry of foam tape during the forecast period.”
Automotive is expected to be the leading end-use industry of foam tape during the forecast period, in terms of volume. In the automotive industry, foam tape -is used in plate panels, roof molding, outer belt moldings, rocker panel/claddings, emblem & nameplates, rear spoilers, body & bumper side moldings, side mirrors, and side fenders/wheel flares.
“APAC is expected to lead the foam tape market during the forecast period.”
The APAC region is projected to lead the foam tape market during the forecast period, in terms of volume. The economic growth of the emerging countries such as China, India, Taiwan, Indonesia, Vietnam, and Malaysia, is expected to drive the demand for foam tape in the region. China is expected to lead the foam tape market in the APAC region. Factors such as increasing automotive production, availability of cheap labor and raw materials, low taxes, and less stringent environmental regulations are driving the foam tape market in China.
Breakup of Primary Interviews:
• By Company Type: Tier 1 – 70%, Tier 2 – 20%, and Tier 3 – 10%
• By Designation: C-Level Executives – 46%, Directors – 40%, and Others – 14%
• By Region: North America – 37%, Europe – 21%, APAC – 26%, South America – 8%, and the Middle East & Africa – 8%
3M Company (US), Nitto Denko Corporation (Japan), Tesa SE (Germany), Lintec Corporation (Japan), Intertape Polymer Group, Inc. (Canada), Avery Dennison Corporation (US), 3F (Germany), Halco (US), and Scapa Group Plc (UK) are the key players operating in the foam tape market.
This report provides detailed segmentation of the foam tape market on the basis of resin type, technology, foam type, end-use industry, and region. Based on resin type, the market has been segmented into acrylic, rubber, silicone, and others. Based on technology, the market has been segmented into solvent-based, water-based, and hot-melt-based. Based on foam type, the market has been segmented into PE, PU, acrylic, and others. Based on end-use industry, the market has been segmented into electrical & electronics, automotive, paper & printing, building & construction, and others. Based on region, the market has been segmented into APAC, Europe, North America, South America, and the Middle East & Africa.
Reasons To Buy the Report
From an insight perspective, this research report is focused on various levels of analyses?industry analysis (industry trends), market share analysis of top players in the foam tape market, and company profiles. The report includes views on the competitive landscape, emerging and high-growth segments of the foam tape market, high-growth regions, and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on foam tape offered by top players in the foam tape market
- Product Development/Innovations: Detailed insights on upcoming technologies, R&D activities, and new product launches in the foam tape market
- Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the market for foam tape across various regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the foam tape market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the foam tape market