The foam tape global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Foam Tape Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The foam tape market size has grown strongly in recent years. It will grow from $9.26 billion in 2023 to $10.02 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to automotive industry has been a major consumer of foam tapes, growth of the construction industry, widely adopted in the electronics industry for various applications, industries like automotive and aerospace prioritizing lightweight materials for fuel efficiency, pressure-sensitive adhesives and acrylic adhesives used in foam tapes.
The foam tape market size is expected to see strong growth in the next few years. It will grow to $13.77 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to demand for low-emission, eco-friendly foam tapes, rise of electric vehicles will likely drive the foam tape, smart home devices and Internet of Things (IoT) technology, e-commerce continues its rapid expansion, increasing emphasis on energy conservation. Major trends in the forecast period include developing bio-based foam tapes with lower VOC emissions, shift towards more advanced foam tapes, increasing automation in industries such as automotive and electronics, manufacturers will focus more on providing customized solutions, expanding infrastructure, automotive production.
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Scope Of Foam Tape Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Foam Tape Market Overview
Market Drivers –
The increasing demand from the construction industry is expected to propel the growth of the foam tape market going forward. Construction activities encompass a wide range of tasks and operations involved in developing infrastructure for sewage, stormwater, and nonpoint-source projects. An increase in construction activity is due to rapid urbanization, infrastructure development, and technological advancements. Foam tape is extremely beneficial in construction activities such as sealing gaps and joints in construction projects, particularly around windows, doors, and other openings. For instance, in June 2024, according to TST Europe, a Switzerland-based manufacturer specializing in quick-release couplings and coupling systems, total construction spending in the U.S. reached $1.98 trillion in 2023, reflecting a 7.4% increase from the previous year. The number of construction businesses in the U.S. stood at approximately 745,000 as of 2023. Therefore, an increasing demand from the construction industry is driving the foam tape market.
Market Trends –
Major companies operating in the foam tapes market are developing acrylic foam tapes to provide superior bonding strength and durability. Acrylic foam tapes are known for their excellent adhesion to a variety of surfaces, including metals, plastics, and glass, and they offer resistance to extreme temperatures, moisture, and UV exposure. For instance, in November 2023, CCL Design, a Canada-based packaging and labeling company, launched 5400 LSE acrylic foam tape series to offer primerless adhesion to plastics, simplifying the application process and improving efficiency. It provides an ultra-strong bond to polypropylene (PP) and excellent adhesion to automotive paints, making it suitable for automotive applications. The foam tape is free from perfluoroalkyl and polyfluoroalkyl substances (PFAS), aligning with growing demands for environmentally friendly products.
The foam tape market covered in this report is segmented –
1) By Type: Single Sided Foam Tape, Double Sided Foam Tape
2) By Foam Type: Polyethylene, Polyurethane, Neoprene, Acrylic, Other Foam Types
3) By Resin Type: Rubber, Silicone, Acrylic, Ethylene-Vinyl Acetate (EVA), Other Resin Types
4) By Technology: Solvent-Based, Water-Based, Hot-Melt-Based
5) By End-User Industry: Automotive, Construction, Electrical and Electronics, Aerospace, Packaging, Other End-User Industries
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Regional Insights –
Asia-Pacific was the largest region in the foam tape market in 2023, and is expected to be the fastest-growing region in the forecast period. The regions covered in the foam tape market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the foam tape market are 3M Company, Avery Dennison, Berry Global Inc., Nitto Denko Corporation, Tesa Se, LINTEC Corporation, Intertape Polymer Group, Scapa Group, Vibac Group S.p.A., Yongle Tape Co Ltd., American Biltrite, CCT Tapes, DeWAL Industries Inc., Parafix Tapes & Conversions Ltd., Advance Tapes International Ltd., HALCO Europe Ltd., AFT Company, ECHOtape, 3F Industries, Ajit Industries, Lynvale Ltd., Saint-Gobain Performance Plastics, Tape-Rite Co Inc., Seal King Ind Co. Ltd., Zhongshan Crown Adhesive Products Co Ltd
Table of Contents
1. Executive Summary
2. Foam Tape Market Report Structure
3. Foam Tape Market Trends And Strategies
4. Foam Tape Market – Macro Economic Scenario
5. Foam Tape Market Size And Growth
…..
27. Foam Tape Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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