Foam Tape Market Demand Analysis, 2028 | Demand For Eco-Friendly Green Foam Tapes Is Driving High Revenue Growth
The Global Foam Tapes Market report published by Reports and Data is an all-inclusive document explaining current and future scenario of the global Foam Tapes industry. The report has been formulated through extensive primary and secondary research and offers in-depth information about the Foam Tapes market. The report also analyzes key market players along with distributors and overall industrial chain structure. The report also provides an assessment of the factors and parameters that have the potential to influence the revenue growth of the market.
The global Foam Tapes Market is expected to reach a value of USD 14.24 Billion by 2028, and register a CAGR of 6.50%, according to a new report by Reports and Data. These tapes are specialty materials that are used in the construction industry for various purposes such as for sealing windows, making sun- roofs, noise cancellation, and many others.
The market for tapes is influenced by the rising urbanization and awareness among the young population to make ultraviolet rays proof houses. Foam tapes can sustain both extremely low and high temperatures. It is used for cushioning, sealing, and casketing in various industries. These tapes are available in various shapes and thicknesses in the market. Researchers have developed a green tape which is made up of recycled materials and is biodegradable in nature. The cost of the raw materials used to make such tapes are very high, which are creating a market restraint.
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Further key findings from the report suggest:
- Paper and printing industries held the largest market share of 36.4% in the year 2018. Foam tape materials are extremely cheap and can be recycled easily. This material has good insulating properties, high strength, absorbs moisture, flexible, low dielectric constant, and can be compressed easily. New technologies are introduced to make the foam tapes retain the mechanical properties for a long period of time.
- The hot melt-based technology is forecasted to witness the highest CAGR of 7.1% during the forecast period. This segment is rising since this technology is used in automotive, electrical and electronics, and paper and printing industries, among various others.
- Silicone type sector held the largest market share of 39.0% in the year 2018. China became the largest consumer of foam tape products owing to the ever-growing construction industry along with the paper and printing industries in this region because of the rise in population and industrialization. China became a leader in the world for production and consumption of adhesive tapes because of its low-cost labor, and rise in urbanization with an expanding economy compared with other countries.
- Asia Pacific is expected to witness the highest CAGR of 7.8% during the forecast period. Countries like India, China, Taiwan, South Korea, and Japan are rapidly catching up with the growth in the foam tape market. Adhesive tapes manufacturing and consumption have shifted from North America to Asia.
Key participants 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.
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The packaging industry plays an important role, adding value to various manufacturing sectors including pharma, FMCG, agriculture, and retail industries. It is considered as one of the fastest growing industries due to growth in e-commerce industry, especially during Covid 19 pandemic. Containment, communication, protection, and utility are the four major functions of packaging that are intended to maximise sales and profits while reducing losses and wastage, and they are all critical for improving the consumer and overall brand experience. Packaging is today seen as a vital link between consumers and brands, allowing them to convey successfully that hygiene is upheld, safety is prioritized, and service or product quality is not compromised.
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; 2018-2028)
Foam Type Outlook (Length, Million Meters; Revenue, USD Billion; 2018-2028)
Technology Type Outlook (Length, Million Meters; Revenue, USD Billion; 2018-2028)
End-Users Outlook (Length, Million Meters; Revenue, USD Billion; 2018-2028)
- Paper and Printing
- Electrical and Electronics
- Building and Construction
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Regional Outlook (Length, Million Meters; Revenue, USD Billion; 2018-2028)
- North America
- Asia Pacific
- Latin America
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Thank you for reading this article. You can also get chapter-wise sections or region-wise report coverage for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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