The Adhesive Foam Tape Market research report classifies the market trends relevant to the supply, requirement, and arrangement, at any rate, the new events. The report highlights huge drivers, restrictions and positive chances to give a definite image of the market. The Adhesive Foam Tape Market research report gives complete details about the profitable emerging markets and examines insights into the markets' developing section. Furthermore, the Adhesive Foam Tape Market research report gives a complete evaluation of market shares, approaches, products, verification, regulatory approvals, copyright aspect, and manufacturing proficiency of the leading players.
Adhesive Foam Tape Market Overview
The global Adhesive Foam Tape market size was estimated at USD 10.1 billion in 2023 and is projected to reach USD 15.5 billion in 2030 at a CAGR of 6.5% during the forecast period 2023-2030.
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Foam tapes, which are widely regarded as a type of adhesive tape that features self-adhesive properties and pressure-sensitive characteristics, are coated with an adhesive on either one or both sides. These tapes are typically constructed using various foam types, including but not limited to polyurethane, polyethylene, acrylic, and others such as nitrile, EVA, polyester, polyether, rubber, PVC, and vinyl. In essence, foam tapes serve as a fundamental component within a plethora of industrial sectors, including the automotive industry, building and construction, as well as electronics and electrical industries. Their versatile nature allows them to be used for a multitude of purposes, including bonding, mounting, holding, splicing, and many more.
The escalation of market growth in the adhesive foam tape industry is primarily attributed to the increase in application scope within the aerospace and defense as well as construction sectors. Additionally, the rise in the availability of various advantageous properties, such as high strength, light weight, improved texture, and weather resistance, further contributes to this growth. Furthermore, the heightened awareness amongst construction and automobile manufacturers regarding the different properties and benefits offered by these products is also a significant driving factor among others in the adhesive foam tape market.
The current expansion of the market has been adversely affected by the unprecedented COVID-19 pandemic, which has resulted in the imposition of stringent lockdowns, social distancing measures, and trade sanctions causing significant disruptions in global supply chain networks. As a result of the aforementioned restrictions, a significant number of industries and factories in various countries have been compelled to temporarily halt their operations, which has had an adverse impact on the growth of critical segments such as aerospace, automotive, and construction.
Delvens Industry Expert's Standpoint
The mounting apprehensions regarding the environment and the increasing number of regulations have stimulated the manufacturers of foam tape to concentrate their efforts on the advancement of environmentally sustainable commodities. However, the escalating costs of the fundamental raw materials have hindered the expansion of the foam tape market. This impediment is primarily due to the surging costs of foam types, such as acrylic and PE, which are prevalent globally and are having a substantial impact on the foam tape market. It is noteworthy that the majority of the raw materials utilized in the production of foam tape are derivatives of petroleum, which are highly susceptible to fluctuations in commodity prices.
Adhesive Foam Tape Market Key Findings
• On the basis of type, The demand for foam tape based on acrylic resin is experiencing an upward trend in all regions due to its superior tack and peel adhesion when compared to that of silicone. Moreover, its exceptional cohesion and humidity resistance render it highly suitable for employment in diverse environmental conditions. Additionally, the cost of foam tapes based on acrylic resin is lower than that of other types. Consequently, it finds wide-ranging applications in the medical and automotive industries owing to its remarkable adhesion properties.
• On the basis of technology, The segment of the foam tape market that has been observed to have the largest share is the solvent-based technology. This technology has been found to offer extraordinary chemical resistance, thereby making it a preferred choice for various applications. In cases where foam tapes are required to exhibit high tensile strength, durability, as well as peel and shear strength, the solvent-based technology is usually employed. Furthermore, it is noteworthy that solvent-based foam tapes are renowned for their durability, as they have been shown to withstand a wide range of temperatures. This quality makes them particularly suitable for a diverse range of applications.
• On the basis of application, The demand for foam tape backed with polyethylene (PE) is considerably high, particularly in applications that necessitate tapes to exhibit properties such as bridging gaps between two surfaces that are being adhesively bonded. Additionally, PE-backed foam tape is equipped with properties such as reduction of sound and vibration as well as absorption of shock. This upward trend can be attributed to the wide range of applications it serves in the automotive and building & construction industries. Furthermore, these industries are expanding expeditiously in the Asia-Pacific (APAC) region due to the proliferation of public and private investments, burgeoning population, and emphasis on the renewable energy sector.
• The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. It is projected that the Asia-Pacific (APAC) region will take the lead in the foam tape market in terms of volume.
Adhesive Foam Tape Market Regional Analysis
Asia-Pacific to Dominate the Market
• Asia-Pacific (APAC) region will take the lead in the foam tape market in terms of volume. This is attributed to the economic growth of the emerging countries within the region, namely China, India, Taiwan, Indonesia, Vietnam, and Malaysia.
• It is anticipated that this economic growth will serve as a key driver for the demand of foam tape in the region.
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Adhesive Foam Tape Market Competitive Landscape
• 3M Company
• Nitto Denko Corporation
• Tesa SE (A Beiersdorf Company)
• Avery Dennison Corporation
• Scapa Group plc
• Lintec Corporation
• Sekisui Chemical Co., Ltd.
• Intertape Polymer Group Inc.
• Saint-Gobain Performance Plastics Corporation
• Lohmann GmbH & Co. KG
• AFTC (American Flexible Products)
• Essentra PLC
• Adchem Corporation
• CCT Tapes
• Foam Seal Inc.
• XFasten
• Wuxi Canaan Adhesive Technology Co., Ltd.
• Shurtape Technologies, LLC
• 4 Sided Solutions
• PPI Adhesive Products (C.E.) Ltd.
Recent Developments in The Adhesive Foam Tape Market
In June 2019, RPM's Tremco business, a global leader in the construction industry, has recently acquired Schul International Co., LLC, an esteemed manufacturer of top-quality joint sealants that are specifically designed for use in commercial construction. Moreover, Tremco also acquired Willseal LLC, a highly reputable company that specializes in the marketing and selling of Schul products, thus solidifying Tremco's position as a dominant player in the industry.
Reasons to Acquire Adhesive Foam Tape Market Report
• Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
• Gain authentic and granular data access for the Adhesive Foam Tape Market to understand the trends and the factors involved in changing market situations.
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
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