Market Definition: Foam Tape Market
The Global Foam Tape Market is expected to reach USD 11.17 billion by 2026, from USD 6.75 billion in 2017 growing at a CAGR of 6.5% during the forecast period of 2019 to 2026.
Foam Tapes are pressure-sensitive and self-adhesive tapes that are used as a substitute in place of mechanical, liquid or permanent fasteners and even spot welds. Foam tapes are preferred over these methods due to their high thermal resistivity, and excellent durability. These also give manufactures a choice of design for the products to be made. These provide reliable and permanent bonding properties and have found their usage in a variety of materials including metals, glass and woods.
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Key Market Competitors: Foam Tape Market
Few of the major competitors are Scapa Group plc, Intertape Polymer Group, Halco, Lohmann GmbH & Co.KG, 3F GROUP, CCT Tapes, Ajit Industries Pvt. Ltd., Tape-Rite Co. Inc., KLEIBERIT, Saint-Gobain Performance Plastics, A-SPE Europe, LINTEC Corporation, SEAL KING IND CO. LTD., LAMATEK, Inc, AFT Corporation., Lynvale Ltd, GPI Corporation (M) Sdn Bhd, Wuxi Canaan Adhesive Technology Co. Ltd, Helipro Tapes Sdn. Bhd., Foshan Jintuo Adhesive Products Co. Ltd., V. Himark (USA) Inc. and Kubhera Insulation among others.
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Major Market Drivers & Restraints are as follows:
- Wide applications of foam tapes in among end users.
- Rapid innovation and advancement in technologies related to manufacturing.
- Increasing demand from automotive sector.
- High costs of raw materials involved.
- Stringent policies and norms related to environmental safety.
- Low bond strength of acrylic adhesive to polyolefin are expected to hamper the Global Foam Tape Market growth
Market Segmentation: Foam Tape Market
By Resin Type:
By Foam Type
By End Use Industry:
- Building & Construction
- Electrical & Electronics
- Paper & Printing
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The global foam tape market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. In May 2018, tesa SE completed acquisition of Functional Coatings Inc., known for its VOC-free adhesive tapes. The takeover enables tesa SE to build up its market position in building and construction industry.
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