Foam Tape Market – Global Industry Size, Share, Trends, Opportunity, and Forecast 2018-2028

Foam Tape Market – Global Industry Size, Share, Trends, Opportunity, and Forecast 2018-2028

Global Foam Tape Market is expected to grow at a robust pace in the forecast period 2024-2028. Increased demand for foam tape from the automotive industry is anticipated to have an impact on the market's growth rate, as well as the production of lightweight materials and less expensive components, and growth and expansion of different end user verticals in emerging economies. Furthermore, a growing focus on technological advancements and modernization of production techniques, as well as rising awareness of the advantages of foam tape over alternatives such as high strength, light weight, better texture, and weather resistance, are anticipated to propel the growth of the Global Foam Tape Market.

Foam tape serves as an adhesive solution for situations where uneven surfaces need to be joined. In instances where the surface is notably rough or possesses substantial irregularities, thicker variants of foam tape can be utilized to even the surface. Diverse foam options are available to cater for various substrate requirements, with the incorporation of adhesives enabling the production of both single-sided and double-sided foam tapes.

Moreover, foam tapes find extensive applications in bonding and sealing across a range of industries. In the automotive sector, they are employed for tasks like affixing plastic emblems onto metal substrates, sealing windows, doors, sunroofs, trunks/hatches, and other automotive components. Moreover, the HVAC and construction industries widely utilize foam tapes for various purposes. Notably, foam tape serves as a compressible sealant, effectively sealing gaps between mechanical parts or around pipe joints to prevent the leakage of gas, liquid, air, or sound. Its versatility makes it suitable for applications such as electrical enclosures, shed doors, and garage doors, offering an alternative to rubber foam or pumpable caulks/sealants.

Additionally, highly conformable foam tape allows for endless customization to meet the needs of nearly any application. The use of foam tape offers many benefits, including time and cost efficiency, extended service life, adaptability, and flexibility. Foam tapes are used as interior adhesives for appliances and equipment eliminate the need for fasteners, liners, and gasket materials. Eliminates the trouble of installation work and waste disposal, greatly reducing the total man-hours and time required for manufacturing and improving production efficiency. Foam tape is easy and inexpensive to manufacture, can be molded to exact dimensions, and minimizes material costs. Strip conversion processes such as rotary slitting and stamping allow to meet the requirement of project. Large rolls or logs can be fed to size with low material overhead.

Applications of Foam Tape

Building and construction, as well as the automotive industry, are where foam tape is most frequently utilized. The growing popularity of electronic devices and lightweight cars is fueling the foam tape business. In cars, foam tape is widely used to affix trim, mount badges and scripts, and combine various materials. According to US Department of Energy research, a 10% decrease in vehicle weight could result in a 6-8% boost in fuel efficiency. Due to the use of foam tapes rather than traditional mechanical fasteners, the weight is decreased and there are considerable fuel and maintenance cost advantages. Foam tape is often used in the building and construction industry for projects like insulation, glazing, abatement and HVAC. These factors are expected to drive the growth of Global Foam Tape Market.

Increasing Demand for Product Longevity

Compared to automobile tapes, welded metal-to-metal bonding necessitates significantly more certifications, training, and inspections, which raises labor expenses. Application of adhesive tape is simple, produces work of greater caliber at a lesser cost, and requires little training. Because it increases sales, lowering the cost of the finished product is advantageous to both the consumers and the manufacturer. Adhesives disperse holding force along the entire bond line, in contrast to fasteners, which only do so where they are attached. Compared to screws, adhesives forge a stronger bond and hold objects together considerably more securely. These factors are expected to drive the growth of Global Foam Tape Market.

Advanceable Features of defense against UV radiation and other environmental concerns propelling the Global Foam Tapes Market

Foam tapes are used to secure the connections between various industrial equipment to prevent leakage. They are widely used in many different industries because of the excellent results they produce, such as dampening, cushioning, and gasketing. Additionally, these tapes offer superior defense against UV radiation, chemicals, and moisture, extending product life. The current expansion of the market for foam tapes worldwide may largely be attributed to these applications. These tapes can tolerate high pressures and temperatures. This is an additional feature that is expected to drive the expansion of the Global Foam Tape Market.

Increasing Technological Advancements

The need for biodegradable and ecologically friendly foam has increased over the past few years as a result of stringent environmental protection laws and consumer desire. Due to the advancement of hot-melt and UV hot-melt technologies, manufacturers and converters of foam tape can now coat tapes on P.E., PU, and acrylic foam types without releasing any solvents or water. The usage of hot-melt and UV hot-melt technologies is expanding, especially in the Asia Pacific. Innovations like curable foam tape (U.V. and E.B. or both rubber and acrylic systems) are aimed at specialty tapes. Manufactures in the market have the opportunity to create innovative goods for numerous applications because of all these factors, thus, driving the growth of the Global foam tapes market.

Rising Prices of Raw Materials & Lack of Policies

PE, PU, acrylic, nitrile, EVA, release liners, adhesives, and refined petroleum products are some of the basic materials used to make foam tape. Since the majority of these raw materials are derivatives of petroleum, they are susceptible to changes in crude oil prices. Foam tape costs rise as a result of converters and manufacturers raising the cost of raw ingredients such as adhesives, backing materials, and release liners. The market is impacted internationally by the increase in the cost of foam tape products for end users such the automotive and building & construction sectors. The prices of adhesives have gone up as a result of rising costs for labor, transportation, and raw materials, inflationary pressures, and a lack of competent workers.

Additionally, the governments' stringent environmental and regulatory measures governing the usage of technology based on solvents have compelled makers of foam tape to raise the price of their finished goods. Regulatory agencies in Europe and North America, including COSHH EU, REACH, GHS, and EPA, are posing problems for the chemical business. Regarding the production and use of foam tape in various applications to lower VOC emissions, the manufacturers in these locations must abide by these laws. Their use of solvent-based technologies in foam tape production has been impacted by this. The manufacturers may face a significant hurdle as a result of the laws, which force them to switch from solvent-based to water-based technology.

Market Segmentation

The Global Foam Tape Market is segmented based on resin type, technology, foam type, end use industry and region. Based on resin type, the market is bifurcated into rubber, silicon and others. Based on technology, the market is further bifurcated into solvent, water and hot-melt. Based on foam type, the market is bifurcated into polyethylene, polyurethane, acrylic and others. Based on end use industry, the market is further bifurcated into automotive, building & construction, electrical & electronics and others. Based on region, the market is further bifurcated into North America, Asia-Pacific, Europe, South America, Middle East & Africa.

Market players

The main market players in the Global Foam Tape Market are Nitto Denko Corporation, 3M Company, LINTEC Corporation, Tesa SE, Avery Dennison Corporation, Intertape Polymer Group Inc., 3F GmbH Klebe- & Kaschiertechnik, RPM International Inc., Scapa Group Plc., Lohmann GmbH & Co. KG.

Report Scope:

In this report, Global Foam Tape Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Foam Tape Market, By Resin Type:
• Rubber
• Silicon
• Others
• Foam Tape Market, By Technology:
• Solvent
• Water
• Hot-Melt
• Foam Tape Market, By Foam Type:
• Polyethylene
• Polyurethane
• Acrylic
• Others
• Foam Tape Market, By End Use Industry:
• Automotive
• Building & Construction
• Electrical & Electronics
• Others
• Foam Tape Market, By Region:
• North America
• United States
• Canada
• Mexico
• Asia-Pacific
• India
• Japan
• South Korea
• Australia
• China
• Europe
• Germany
• United Kingdom
• France
• Italy
• Spain
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• Saudi Arabia
• South Africa
• UAE

Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Foam Tape Market.

Company Information

• Detailed analysis and profiling of additional market players (up to ten).

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