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The global foam tape market size is projected to reach $9.59 billion by 2023. The overall foam tape market growth is expected to maintain a CAGR of 5.73% from 2019 to 2023. Technavio’s global foam tape market report analyzes the market segmentation by end-user (Automotive, Building and construction, Electrical and electronics, and others), and by geographical region (Asia Pacific, Americas, and EMEA). This report includes an in-depth discussion of the recent foam tape market drivers, challenges and trends. Several major drivers such as the increasing demand for acrylic foam tapes, growing usage of foam tapes in various industries, and advances in manufacturing technology will drive the growth of the global foam tape market during the forecast period. This market research also provides an overview of the market’s competitive landscape and top foam tape manufacturers. These leading manufacturers include 3M, Avery Dennison, H.B.Fuller, Henkel, LINTEC, and NITTO DENKO etc. View the Table of Contents for the full scope of the information you will receive in this market research report, or request a free sample delivered to you instantly.
Technavio’s research report offers a market forecast for the years 2019 -2023, using 2018 as the base year for all calculations. Our industry analysis predicts that the global foam tape market will grow at a year-on-year rate of 5.62% in 2019 and then maintain to grow at a CAGR of 5.73% through to 2023. Asian Pacific is currently accounting for the largest part of the global foam tape market share, and it is also expected to witness the highest growth rate during the next five years. In 2018, APAC accounted for 43.75% of the overall market. When it comes to CAGR, APAC region is projected to register a highest 5.99% growth rate from 2019 to 2023, followed by the Americas and EMEA. Purchase Technavio’s full report for a deep dive into the future prospects of individual regions and segments, as well as factors that will drive growth over the next five years.
Foam tapes, also known as the attachment tapes, are polymeric substances that contain adhesives on both sides. Foam tapes are mainly used for bonding, selling, acoustic, and vibrating dampening applications. The global foam tape industry is growing steadily over the recent decades. The growth is mainly driven by the increasing usage of acrylic foam tapes in variety of booming industries, such as aerospace, automotive, building and construction, electronics and others. Advances in foam tape manufacturing technologies, including solvent-based, water-based and hot-melt-based processes is another major factor driving the growth of this market.
Meanwhile, several foam tape market trends are also expected to have a positive impact on this market over the next five years. The adoption of silicone resin-based foam tapes is anticipated to grow much faster during the forecast period, as silicon resin-based foam tapes offer superior service life, excellent conformability and flexibility. The leading vendors are also constantly innovating and investing in R&D to launch new and environment-friendly products. There are already different product types available such as acrylic foam tape, polyurethane foam tape, and polyester foam tape. The higher product diversification is expected to better suit the demand from end-users across the global.
Based on end-user, the global foam tape market is segmented into automotive, building and construction, electrical and electronics, and others. In 2018, automotive segment was the largest end-user for foam tapes, accounting for 36.55% of the global foam tape market. However, building and construction is expected to be the fastest growing segment in the global foam tape market during the forecast period.
In 2018, Asian Pacific (APAC) was the largest market for foam tapes. The region will continue its dominance throughout the forecast period. The rising demand for foam tapes from the automotive, building and construction, and electronics sectors in emerging countries like China, India, South Korea and Vietnam will be the major factor to drive the foam tape market growth in the region. The Americas and EMEA regions will also see a moderate growth over the next fives, mainly driven by the growing demand in aerospace and defense industries.
The global foam tape market is moderately fragmented with several major foam tape manufacturers leading the market. This report offers a complete analysis of the competitive landscape and the key market players within it. With this detailed data, Technavio’s foam tape market research will help clients identify new growth opportunities and design new growth strategies.
The report offers a complete analysis of several of the key foam tape manufacturers and companies, including:
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
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