WK Information’s purpose is to support clients to make informed optimal decisions. Our reports cover a variety of fields, from niche market to general market. Our consistent growth and ability to deliver in-depth analyses and market insight has engaged genuine.
Global cristobalite will increase steadily over the next...
The Gold Nanoparticles is forecast to crazy increase...
The Flue Gas Desulfurization is forecast to steadily...
According to the WK-chem Research “Global Epoxy Reactive...
Global Foam Tape Market InsightApril 26, 2022 Comments
Global foam tape is forecast to 6.81% over the next five years. According to the WK-chem Research, “Global Foam Tape Professional Survey Report 2022, Forecast to 2027”, 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 compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 6.81% base on WK-chem Research regression analysis model.
“The demand for biodegradable and eco-friendly foam has increased in the past few years due to stringent environmental regulations and consumer preference. All these factors are providing opportunities to the market players for manufacturing innovative products for various applications”, said Penny Wilson, Data Analyst, in WK-chem Research.
The automotive and building & construction industries are the major consumers of foam tape. The trend of using lightweight vehicles and electronic devices in vehicles is increasing, which is driving the foam tape market. In automobiles, foam tape is widely used in the automotive badge and script mounting, automotive trim attachment, and bonding dissimilar materials. Building & construction is also one of the key end-use industries of foam tape, especially in APAC, South America, and the Middle East. Foam tape is also widely used for HVAC, glazing, abatement, and insulation applications in the building & construction industry.
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.
This WK-chem Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading foam tape companies that include: 3M Company, Nitto Denko Corporation, Tesa SE, Avery Dennison, Intertape Polymer Group, Lintec Corporation.
Segmentation of Foam Tape Market:
According to the type, the market for foam tape is divided into: PE, PU, Acrylic. Acrylic has the largest market share. The demand for acrylic resin-based foam tape is increasing across all the regions, as it has higher tack and peel adhesion than silicone. It also has excellent cohesion and humidity resistance, which makes it suitable for use in various environmental conditions. The price of acrylic resin-based foam tapes is also lower than the other types. It is widely used in the medical and automotive industries, owing to its excellent adhesion properties.
According to the application, the market for foam tape is divided into: Automotive, Building & Construction, Electrical & Electronics, Paper & Printing. Automotive has the largest market share. 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.
Foam Tape Market: Regional Analysis
In terms of geography, the global foam tape market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. 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.
Largest share area：Asia Pacific
largest share country: China
Product Type：PE, PU, Acrylic.
Application：Automotive, Building & Construction, Electrical & Electronics, Paper & Printing.
Leading Company：3M Company, Nitto Denko Corporation, Tesa SE, Avery Dennison, Intertape Polymer Group