The Foam Tape Market size was USD 6.98 billion in 2017 and is projected to reach USD 10.35 billion by 2023, at a CAGR of 6.83% during the forecast period. In this study, 2017 has been considered as the base year, and the forecast period is between 2018 and 2023. The report aims at estimating the size and growth potential of the foam tape market across different segments, such as resin type, technology, foam type, end-use industry, and region. The factors such as drivers, restraints, opportunities, and industry-specific challenges influencing the growth of the foam tape market have also been studied in this report. The report analyzes opportunities in the foam tape market for stakeholders and presents a competitive landscape of the market.

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Browse in-depth TOC on "Foam Tape Market" 105 – Tables, 54 - Figures, 151 – Pages

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“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.

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“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.

3M Company (US), Nitto Denko Corporation (Japan), Tesa SE (Germany), Lintec Corporation (Japan), Intertape Polymer Group, Inc. (Canada), Avery Dennison Corporation (US), HALCO (US), 3F (Germany), and Scapa Group Plc (UK) are some of the key players operating in the Foam Tape Market.

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