Foam tapes are used to seal the bonds between various industrial devices to avoid leakage. Based on their exceptional quality of the result such as dampening, cushioning, and gasketing, they are extensively used in the several industries. These tapes also provide impeccable protection against ultraviolet rays, solvents and moisture resulting in better life of the products. As a result of these benefits and advantages, the foam tapes find their extensive application in industrial domain. These applications are the major reason that are responsible for the growth of global foam tapes market these days. Moreover, these tapes are capable enough to sustain high temperature and pressure. This is yet another advantage that is propelling the growth of global foam tapes market in present time.
Trends that are driving the Growth of Global Foam Tapes Market:
- The market of the foam tapes is majorly driven consolidated use of the foam tapes in sectors such as construction, automobiles, electronics and printing. Moreover, since these tapes are eco-friendly, they pose less danger to the environment as compared to conventional adhesives. Therefore, with the rising awareness of the environmental impact of several adhesives, the global foam tapes market is experiencing a major boost these days.
- Though, high prices and low availability of raw materials may hamper the growth of the global foam tapes market, growing focus on research and development to develop new and effective foam tapes shall keep momentum of the global foam tapes market up and running.
- Currently, Asia Pacific is the said to dominate the regional front of the global foam tapes market. This is because, the region is undergoing a major industrialization these days and various new businesses are setting their facility in India and China. These facilities require their products to last longer and deliver the utmost quality. Hence they are calling for the application foam tapes. This as a result help Asia Pacific to dominate the regional front of the global foam tapes market.
Foam tapes cater to the sealing and bonding needs of various industries, owing to their excellent dampening, cushioning and gasketing properties. Foam tapes also offer resistance from ultraviolet rays, solvents, and moisture. These tapes are commercially available in different sizes and thicknesses. They can sustain in temperatures ranging from −400°F to 300°F. Open-cell foam, closed-cell foam, and solid rubber foam are different categories of foam tapes. Foam tapes are suitable for use in automotive applications, electronic components, sun roofs, trunks/hatches, and HVAC applications. These are also employed in the fabrication of windows.
Foam Tapes Market: Overview
The foam tapes market is driven by augmented use of foam tapes in industries such as automotive, construction, electronics, and paper & printing. Moreover, growing awareness about eco-friendly products and rising damage caused to the environment with the use of conventional tapes are other factors driving the foam tapes market. However, volatile prices of raw materials are likely to hamper the foam tapes market during the forecast period. Nevertheless, growing research and development activities for the advancement in properties of foam tapes are expected to offer growth opportunities to the market in the next few years.
Based on resin type, the foam tapes market has been segmented into acrylic, rubber, and silicone. The silicone segment dominates the market, owing to the adhesive property of silicone-based foam tapes at high temperatures. Based on technology, the foam tapes market has been segmented into solvent-based, water-based, and hot-melt-based. The hot-melt-based segment is projected to register the highest growth rate during the forecast period, as hot-melt-based foam tapes offer higher strength and quicker adhesion compared to solvent-based and water-based foam tapes. Based on type, foam tape market has been bifurcated as PE-backed, PU-backed, and acrylic-backed..
Foam Tapes Market: Trends & Developments
Leading manufacturers of foam tapes as well as research institutions are making significant investments in the development of eco-friendly foam tapes, as conventional tapes create an adverse effect on the environment.
Based on end-user industry, the foam tapes market can be segregated into automotive, building & construction, electrical & electronics, and paper & printing. The paper & printing segment is projected to register the highest growth rate, as foam tapes are largely used in functioning of paper machines. The automotive segment is estimated to generate the maximum revenues during the forecast period, owing to high production of automobiles worldwide.
Foam Tapes Market: Regional Outlook
Asia Pacific is estimated to be a prominent and rapidly expanding market for foam tapes during the forecast period. Increasing use of foam tapes in automotive, electronics, building & construction, and paper & printing industries in Asia Pacific is expected to present growth opportunities to the market in the region during the forecast period. China dominates the foam tapes market in Asia Pacific, owing to higher automotive production, lower tax rates, and lower labor costs compared to other countries of the region.
Foam Tapes Market: Key Players
Key manufacturers operating in the global foam tapes market are 3M Company, Tesa SE, Halco, Nitto Denko Corporation, Lintec Corporation, 3F, Scapa Group PLC, Avery Dennison Corporation, and Intertape Polymer Group Inc.
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
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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
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Below is a snapshot of these quadrants.
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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?
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