Global Foam Tape Market is Expected to Reach 12.16 Billion by 2025: Fior Markets

New Jersey, NJ, July 29, 2019 (GLOBE NEWSWIRE) -- Fior Markets launched a study titled,   As per the report, the global foam tape market is expected to grow from USD 7.09 Billion in 2017 to USD 12.16 Billion by 2025, at a CAGR of 6.98% during the forecast period from 2018-2025. Growing demand from the end use industries for the purposes of bonding, holding, mounting, splicing, and others is boosting the growth of the global foam tape market.

Market Outlook of the Foam Tape

• Foam tapes are pressure-sensitive and self-adhesive tapes that are coated with adhesive on one side or both sides of the foam types such as PE, PU, acrylic etc. These tapes are made by applying a thin adhesive layer to various foam types. The type of adhesive and the type of foam play an integral role in determining the strength, cost, and ease of use and life of the foam tape.
• The main advantage of foam tape over the mechanical fasteners is its ability to withstand a high level of vibration. This makes it an ideal choice for certain construction applications where relatively high-strength, durable seals are needed. Thus growing demand for the foam tapes in the end use industries for the purposes of bonding, holding, mounting, splicing, and others are boosting the growth of the global foam tape market.
• Even though the factors such as rising demand for the acrylic-based foam tape as well as the growth of the end user industries are driving the global foam tape market, the volatility in the raw material prices and exponential increase in the acrylic and PE prices are anticipated to restrain the market growth over the forecast period.

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Resin Type Segment Analysis of the Foam Tape Market

• Acrylic
• Rubber
• Silicone
• Others

Due to their properties for maintaining adhesion over a wide temperature range and ability to adhere to difficult surfaces the silicone-based foam tapes segment is expected to grow at an increased CAGR of 9.03% over the forecast period. 

Technology Segment Analysis of the Foam Tape Market

• Solvent-Based
• Water-Based
• Hot-Melt-Based

The hot melt based technology is anticipated to grow at an accelerated CAGR of 8.92% over the forecast period. Factors such as wide-ranging use of the hot-melt-based technology for the diverse applications in the building & construction, automotive, paper & printing, and electrical & electronics industries due to its high strength and immediate bond forming ability were responsible for this increased growth.

Foam Type Segment Analysis of the Foam Tape Market

• PE
• PU
• Acrylic
• Others

Due to their ability to bond with the variety of substrates such as metals, higher surface energy plastics, glass, composite material and their wide-ranging use in the variety of industries such as aerospace, solar energy, and wind energy, the acrylic backed foam tapes segment is projected to grow at the highest CAGR of 8.76% over the forecast period.

End User Industry Segment Analysis of the Foam Tape Market

• Automotive
• Building & Construction
• Electrical & Electronics
• Paper & Printing
• Others

Due to extensive use of foam tapes in the paper & printing process the paper & printing segment is projected to grow at an increased CAGR of 9.10% over the forecast period. However, building & construction segment is anticipated to grow with the rapid growth rate in the global foam tape market during the forecast period. The foam tape saves time and money by provide reliable solutions for moving with expansion joints and dampens barriers and filling gaps.

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Region Segment Analysis of the Foam Tape Market

• North America (U.S. , Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific region emerged as the largest market for the foam tapes with a 39.12% share of market revenue in 2017. Growing demand from the rapidly developing automotive, building & construction, paper & printing, and electrical & electronics industries within the region led, Asia Pacific region to grow at an augmented CAGR of 9.04% over the forecast period. The North America region also held a significant market share in 2017, owing to steady demand for the foam tapes from its well-developed automotive, building & construction industries.  

Competitive landscape and key vendors

• Key players in the global foam tape market are 3M Company, Nitto Denko Corporation, Tesa SE, Lintec Corporation, Intertape Polymer Group, Inc., Avery Dennison Corporation, HALCO, 3F, Scapa Group Plc, Seal King Ind Co., Ltd., Lamatek, Inc., AFT Company, Adhere Industrial Tapes Ltd, Lynvale Ltd, GPI Corporation (M) Sdn Bhd, and Wuxi Canaan Adhesive Technology Co., Ltd., Nippon Industries, Helipro Tapes Sdn. Bhd., Foshan Jintuo Adhesive Products Co.,Ltd, and among others.
• To meet the ever-increasing demands of the flexographic printing industry and the issues it faces, the major firms are increasingly focusing on launching foam tapes specifically developed for the printing industry. For instance, Tesa SE in 2018, announced the launch of Softprint® X-Hard foam tapes. It is has been specifically designed to combat the troublesome issue of pin-holing. Pin-holing has a direct effect on print quality and often leads to uneven or incomplete ink distribution on solid print areas, resulting in a loss of density and reduced colour vibrancy.
• For instance, in June 2019, RPM International (RPM) acquired Schul International and Willseal for an undisclosed amount. The Schul operates as a manufacturer of joint sealants for commercial construction and Willseal markets and sells Schul products. This acquisition expanded RPM’s presence in North America region.

About the report:

The global foam tape market is analysed on the basis of value (USD Billion), volume (Kilotons), consumption (Kilotons), imports (Kilotons) and exports (Kilotons). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

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Fior Markets is a futuristic market intelligence company, helping customers flourish their business strategies and make better decisions using actionable intelligence. With transparent information pool, we meet clients’ objectives, commitments on high standard and targeting possible prospects for SWOT analysis and market research reports. Fior Markets deploys a wide range of regional and global market intelligence research reports including industries like technology, pharmaceutical, consumer goods, food and beverages, chemicals, media, materials and many others. Our Strategic Intelligence capabilities are purposely planned to boost your business extension and elucidate the vigor of diverse industry. We hold distinguished units of highly expert analysts and consultants according to their respective domains. The global market research reports we provide involve both qualitative and quantitative analysis of current market scenario as per the geographical regions segregated and comprehensive performance in different regions with global approach. In addition, our syndicated research reports offer a packaged guide to keep companies abreast of the upcoming major restyle in their domains. Fior Markets facilitates clients with research analysis that are customized to their exact requirements, specifications and challenges, whether it is comprehensive desk research, survey work, composition of multiple methods, in-detailed interviewing or competitive intelligence. Our research experts are experienced in matching the exact personnel and methodology to your business need.

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