As per the report published by Fior Markets, 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.Asia Pacific region emerged as the largest market for the foam tapes with a 39.12% share of market revenue in 2017.
“Foam Tape Market by Resin Type (Acrylic, Rubber, Silicone, Others),Technology, Foam Type,End User Industry, Regions”,and Global Forecast 2018-2025.
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Major players in the global foam tapemarket 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.To meet the ever-increasing demands of the flexographic printing industry and the issues it faces, the major firms are increasingly focusing on launching foam tapes specifically developed for the printing industry. For instance, Tesa SE in 2018, announced the launch of Softprint® X-Hard foam tapes. It is has been specifically designed to combat the troublesome issue of pin-holing. Pin-holing has a direct effect on print quality and often leads to uneven or incomplete ink distribution on solid print areas, resulting in a loss of density and reduced colour vibrancy.
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. 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. Foam type segment is categorized into PE, PU, acrylic, and others. Due to their ability to bond with the variety of substrates such as metals, higher surface energy plastics, glass, composite material and their wide-ranging use in the variety of industries such as aerospace, solar energy, and wind energy, the acrylic backed foam tapes segment is projected to grow at the highest CAGR of 8.76% over the forecast period. 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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Even though the factors such as rising demand for the acrylic-based foam tape as well as the growth of the end user industries are driving the global foam tape market, the volatility in the raw material prices and exponential increase in the acrylic and PE prices are anticipated to restrain the market growth over the forecast period.
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