Fior Markets launched a study titled “Foam Tape Market by Resin Type (Acrylic, Rubber, Silicone, Others),Technology, Foam Type,End User Industry, Regions”,and Global Forecast 2018-2025.
The global foam tape market is expected to grow from USD 7.09 Billion in 2017 to USD 12.16 Billion by 2025, at a CAGR of 6.98% during the forecast period from 2018-2025. Growing demand from the end use industries for the purposes of bonding, holding, mounting, splicing, and others is boosting the growth of the global foam tape market.
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Silicone based foam tapes segment is anticipated to grow at a CAGR of 9.03% in 2018-2025
Resin type segment is divided into acrylic, rubber, silicone, and others. Due to their properties for maintaining adhesion over a wide temperature range and ability to adhere to difficult surfaces the silicone-based foam tapes segment is expected to grow at an increased CAGR of 9.03% over the forecast period.
Hot melt based technology segment is anticipated to grow at a CAGR of 8.92% in 2018-2025
Technology segment covers solvent-based, water-based, and hot-melt-based. The hot melt based technology is anticipated to grow at an accelerated CAGR of 8.92% over the forecast period. Factors such as wide-ranging use of the hot-melt-based technology for the diverse applications in the building & construction, automotive, paper & printing, and electrical & electronics industries due to its high strength and immediate bond forming ability were responsible for this increased growth.
Paper & printing segment is anticipated to grow at a CAGR of 9.10% in 2018-2025
End user industry is segmented into automotive, building & construction, electrical & electronics, paper & printing, and others. Due to extensive use of foam tapes in the paper & printing process the paper & printing segment is projected to grow at an increased CAGR of 9.10% over the forecast period.
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Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Increasing demand from the rapidly developing automotive, building &construction, paper & printing, and electrical & electronics industries led Asia Pacific region to emerge as the global leader in the demand for the foam tapes with USD 2.77 billion revenue in 2017.
Major players in the global foam tape market are 3M Company, Nitto Denko Corporation, Tesa SE, Lintec Corporation, Intertape Polymer Group, Inc., Avery Dennison Corporation, HALCO, 3F, Scapa Group Plc, Seal King Ind Co., Ltd., Lamatek, Inc., AFT Company, Adhere Industrial Tapes Ltd, Lynvale Ltd, GPI Corporation (M) Sdn Bhd, and Wuxi Canaan Adhesive Technology Co., Ltd., Nippon Industries, Helipro Tapes Sdn. Bhd., Foshan Jintuo Adhesive Products Co.,Ltd, and among others.
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