Double Coated Foam Tapes: Introduction
- Double coated foam tapes are designed to stick two surfaces together. These tapes can stick to uneven surfaces and are majorly used in the building & construction industry where high strength adhesion is required.
- Double coated foam tapes possess the ability to handle a high thermal stress and movement stress. These tapes are also good at resisting UV, sound, vibration, and shock.
- These tapes are used in high temperature and sound & vibration dampening applications. They are used for general bonding and mounting of signs, mirrors, moldings, extrusions, etc.
Key Drivers of Global Double Coated Foam Tapes Market
- Beneficial properties of double coated foam tapes such as vibration & sound dampening, noise reduction, and mounting are driving the global market
- Rise in demand for double coated foam tapes in various end-use industries such as electrical & electronics, building & construction, and automotive is expected to drive the double coated foam tapes market
- Increase in environmental concerns and rise in number of regulatory policies have compelled double coated foam tape manufacturers to focus on the development of eco-friendly products. However, volatility in prices of raw materials is hampering the double coated foam tapes market.
- Rise in costs of types of foams such as acrylic and PE across the globe is adversely affecting the double coated foam tapes market. Most of the raw materials used in the development of double coated foam tapes are petroleum-based derivatives that are vulnerable to fluctuations in commodity prices.
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Automotive End-use Industry Segment to Expand at Significant Pace
- In terms of volume, Automotive is expected to be the leading end-use industry segment of the double coated foam tapes market during the forecast period. Double coated foam tapes are 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 in the automotive industry.
Polyethylene Foam Type Segment to Expand at Rapid Pace
- PE-backed foam tapes offer properties such as sound and vibration reduction and shock absorption. Demand for these tapes is rising due to increase in usage of these tapes in a wide range of applications in automotive and building & construction industries, which are expanding rapidly in Asia Pacific, owing to increase in private and public investments, growth in population, and rise in focus on the renewable energy sector.
Covid-19 Impact on Double Coated Foam Tapes Market
- The global COVID-19 pandemic has led to a sudden pause in manufacturing activities across the globe, thereby hampering the demand for foams and also production & processing of foams and plastic-based products. The most critically impacted end-use segments of foam products include automotive & transportation, consumer goods, industrial equipment, construction, and electronics.
- Suspension of automotive production across all the major economies due to the pandemic is expected to hinder the double coated foam tapes market in the near future
Asia Pacific to Hold Significant Share of Global Double Coated Foam Tapes Market
- In terms of region, the global double coated foam tapes market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is projected to lead the double coated foam tapes market during the forecast period. Economic growth in emerging countries such as China, India, Taiwan, Indonesia, Vietnam, and Malaysia is expected to drive the demand for double coated foam tapes in the region.
- China is anticipated to dominate the double coated foam tapes market in Asia Pacific. Increase in automotive production, availability of cheap labor and raw materials, low taxes, and less stringent environmental regulations are driving the market in the country.
- Growth in building & construction and automotive markets in countries of North America and Europe is projected to augment the demand for double coated foam tapes in these regions during the forecast period
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Key Players Operating in Global Market
- Manufacturers of double coated foam tapes are focusing on enhancing the performance of these tapes that are commonly used in automotive and building & construction industries. Key players operating in the global double coated foam tapes market include:
- 3M Company
- Intertape Polymer Group Inc.
- tesa SE Group
- Berry Global Group, Inc.
- Scapa Group plc.
- Shanghai Yongguan Adhesive Products Corp., Ltd.
- Saint-Gobain Performance Plastics Corporation
- Nitto Denko Corp
- Adhere Industrial Tapes
- Avery Dennison Corporation
Global Double Coated Foam Tapes Market: Research Scope
Global Double Coated Foam Tapes Market, by Foam Type
- Polyethylene (PE)
- Polyurethane Resins (PUR)
- Polyvinyl Chloride (PVC)
- Others (PET, PP, etc.)
Global Double Coated Foam Tapes Market, by Adhesive Type
Global Double Coated Foam Tapes Market, by End-use Industry
- Building & Construction
- Electrical & Electronics
- Paper & Printing
- Others (Packaging, Aerospace & Defense, Health Care, etc.)
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.