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Market Summary

The global foam tape market is forecast to grow at CAGR 6.2% from USD 8.36 Billion in 2019 and is forecasted to reach to USD 12.78 Billion by 2027, according to a new report by Reports and Data. The tapes are predominantly consumed in the paper and printing industries as they hold a property of durability in the operation of the paper machines, calendars, coaters, and sheeters among other operations. The market is thriving due to increasing demand from the digital printing and retail sectors. Foam includes a variety of technology, such as solvent-based, water-based, and hotmelt-based, among various other technologies. These tapes are largely used for applications in automotive industries, building and construction, paper and printing, and electrical and electronics, among various others.

Increasing application of foam tape in paper and printing industry are one of the driving factors that have boomed the growth of the global foam tape market. The products of the market are hugely used in the construction industry in order to insulate, padding, sealing, and many others. The developing regions are rapidly investing in the international paper and printing, automotive, and construction market. India, China, Vietnam, South Korea, and Taiwan are some of the major users of foam tapes.

North America is an established region for the automotive market and is likely to witness a consistent growth rate in the forecast period owing to the growing automotive and building and construction industries in the region. The growing consumption of foam tape in the automotive industry is propelling the tapes market in this region. Moreover, development in technology that is taking place all across the region is further driving the growth of this market. The major key players in North America are focusing on new technological advancements and innovation of environment friendly foam tapes to support the growth of the market in the region.

Resin Type Outlook:

Foam tape adhesives are typically rubber, silicon or acrylic-based. Acrylic based resin type segment is the dominating segment with the largest share in the foam tape market. Its properties include, lower tack value, high shear value, bond strength increases over time, work well in extended UV exposure, perform well on plasticized surfaces, and are typically more expensive.

On the other hand, rubber based foam tape adhesives comprise of high tack values, inferior shear values, are sluggish, that is, the bond doesn’t get stronger over time but loosens, are not recommended for UV exposure, do not perform well on plasticized (low surface energy) surfaces, however, they are cost efficient.

Foam Type Outlook: Due to the growing apprehensions regarding properties of foam tapes on ecology, the focus of foam tapes have been shifted from chemical based tapes to green tapes that are environment friendly. The adhesives used to manufacture the green tapes are usually acrylic and the material used to manufacture it is PU sponge material.

Foam tape resists moisture, ultraviolet rays from the sun, and solvents, providing high bonding strength to recompense for different thermal expansions and can normally withstand temperature ranging from -40°F to 300°F under normal circumstances.

End use Outlook:

From protective packaging to seals and gaskets, foam and foam tape create a varied application prospects in acoustics, aerospace, architecture, transportation, automobile, and packaging, to name just a few applications. Foam tape is particularly flexible and therefore, allows for filling spaces and making it conformable for joining irregular surfaces. Automotive sector in the end users comprise of the largest share in the market, owing to innovative products related to use of foam tapes, along with this, different varieties such as, density, thickness, adhesive type, and durability allow for a great variety of end uses.

Regional Outlook:

Asia Pacific region comprises of the largest share in market, region wise during the forecast period. Asia Pacific is projected to present growth opportunities in the market due increasing use of foam tapes in building and construction, automotive sector along with paper and printing industries among others. Compared to other regions of Asia Pacific, China is dominating the foam tapes market due to higher automotive manufacturing, lower labour costs and lower tax rates among other features.

Europe is another promising region for the growth of foam tapes market due to consumption in a broad range of applications, such as, healthcare, automobiles, construction and materials among other sectors. These varieties of applications is expected to augment the growth of foam tapes in the European region.

Market-O-Nomics

Acrylic resin type has the largest market share of 49.1% is forecasted to witness the CAGR of 6.2% during the forecast period. Acrylic foam tapes are better performance tapes compared to others available in the market. It is used in aerospace, automotive and healthcare industries.

On the other hand, silicon foam type is set witness the highest CAGR of 7.9%. These types of tapes are appropriate for securing several substrates such as higher surface energy plastics, glass wood, metals, and composite materials, among several others. This type of resins are used to make adhesives because of its high strength compared to others available in the market.

Hotmelt-based technology held the largest market share of 43.1% in the year 2019. This process is boosting the economy of an industry because of its properties. It comprises of better adhesion property, are easy to use, and have an ability to be processed in a very short period of time. It is used in various industries such as paper and printing, electrical and electronics, and construction industries.

The Asia Pacific region is seen to hold the largest market share of 40.7% in the year 2019. The demand for foam tape is quickly growing due to their usage in a broad range of applications, including manufacturing, printing and paper, medical, automotive, and electrical and electronics industries are expected to elevate the market growth.

Companies considered and profiled in this market study

3M Company, Tesa SE, Denko Corporation, Lintec Corporation, Intertape Polymer Group, Inc., Avery Dennison Corporation, Scapa Group Plc, Halco, 3F, and Seal King Ind Co. Ltd., among others. The companies have adopted various strategies, including mergers, acquisitions, and partnerships to hold ongoing trails and come up with new developments in the market.

The players operating in the market have undertaken a number of strategies related to the market in the period 2017-2020. The key highlight is:

In November 2019, Tesa launched a product named AXA Plus, a multi-purpose acrylic core tapes for industrial distributors. This will fulfil the customized requirements of the consumers.

In June 2019, Denko Corporation announced that Bisono Tape 2mg, transdermal patches containing a β1 blocker has been co-developed with Toa Eiyo Ltd. has been launched by Toa Eiyo and Astellas Pharma in the market.

Start-up Traction

The industry offers numerous growth opportunities. Thus, a number of start-ups providing innovative products and technologies have been entering the market. Some of them are adopting innovative ideas like ecology and environment-friendly tapes by taking into consideration the ongoing effects of climate change.

Deals Landscape

Mergers and acquisitions along with collaboration are an integral part of the industry and promote growth in the sector. Along with the companies operating in the market, other key market players have also been entering the industry.

In November 2019, Intertape Polymer Group entered in an exclusive agreement with Hexcelpack to launch new recyclable curby mailer. It provides substantial benefits over traditional over polymer based wrapping materials.

Expert Insights:

Experts have analysed that raw material prices needed to produce foam tapes are unpredictable in nature and are constantly changing. This is likely to affect its application in various industries. It was also noted that tapes market is about to witness an increasing demand from the electrical and electronics sectors for the purpose of wire insulation. These foam tapes often are used to insulate knobs and soldered splices and are also long-lasting. Furthermore, growing awareness about eco-friendly products is witnessed in the developing countries due to the rising damage caused to the environment with the use of conventional tapes and other factors. Nevertheless, growing research in this field, product launches, collaboration of key market players and other related development initiatives for the progression in properties of foam tapes is projected to offer growth opportunities to the market in the in the upcoming years.

Segments Covered in the report

This report estimates proceeds growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2017 to 2027. The scope of the report can be defined as:

For the purpose of this report, Reports and Data have segmented into the global Foam Tape market on the basis of resin type, foam type, technology, end-user, and region:

Resin Type Outlook (Length, Million Meters; Revenue, USD Billion; 2017-2027)

Rubber

Silicon

Acrylic

Others

Foam Type Outlook (Length, Million Meters; Revenue, USD Billion; 2017-2027)

Acrylic

PE

PU

Others

End-Use Outlook (Length, Million Meters; Revenue, USD Billion; 2017-2027)

Paper and Printing

Electrical and Electronics

Automotive

Building and Construction

Others

Technology Type Outlook (Length, Million Meters; Revenue, USD Billion; 2017-2027)

Water-based

Solvent-based

Hotmelt-based

Regional Outlook (Length, Million Meters; Revenue, USD Billion; 2017-2027)

North America U.S Canada

Europe U.K France Germany Rest of Europe

Asia Pacific China India Japan Rest of Asia

Middle East and Africa

Latin America Brazil

