The global foam tapes
market is forecast to reach USD 12.61 Billion by 2026, according to a
new report by Reports and Data. These tapes are specialty materials that are
used in the construction industry for various purposes such as for sealing
windows, making sun- roofs, noise cancellation, and many others.
The market for tapes is
influenced by the rising urbanization and awareness among the young population
to make ultraviolet rays proof houses. Foam tapes can sustain both extremely
low and high temperatures. It is used for cushioning, sealing, and casketing in
various industries. These tapes are available in various shapes and thicknesses
in the market. Researchers have developed a green tape which is made up of
recycled materials and is biodegradable in nature. The cost of the raw
materials used to make such tapes are very high, which are creating a market
restraint.
The factors mentioned above
jointly create opportunities for the market growth while factors such as
critical effects of foam tapes add limitations in the market. However, each
element would have a specific impact on the market during the forecast period.
Consistent developments in the adhesive tapes market owing to innovative
efforts have improved the efficiency of insulating foam tapes.
In the Asia Pacific region due to
the sudden rise in population and rapid urbanization, the market for insulating
products are propelling at a swift rate. The rising economy in counties like
China and Japan due to magnificent political, social, and economic conditions.
Construction industries and paper printing industries of the APAC region are
using these tapes in the construction of houses and commercial space.
To identify the key trends in
the industry, click on the link below:
Further key findings from
the report suggest
- Paper and printing industries held the largest market
share of 36.4% in the year 2018. Foam tape materials are extremely cheap
and can be recycled easily. This material has good insulating properties,
high strength, absorbs moisture, flexible, low dielectric constant, and
can be compressed easily. New technologies are introduced to make the foam
tapes retain the mechanical properties for a long period of time.
- The hot melt-based technology is forecasted to
witness the highest CAGR of 7.1% during the forecast period. This segment
is rising since this technology is used in automotive, electrical and
electronics, and paper and printing industries, among various others.
- Silicone type sector held the largest market share of
39.0% in the year 2018. China became the largest consumer of foam tape
products owing to the ever-growing construction industry along with the
paper and printing industries in this region because of the rise in
population and industrialization. China became a leader in the world for
production and consumption of adhesive tapes because of its low-cost
labor, and rise in urbanization with an expanding economy compared with
other countries.
- Asia Pacific is expected to witness the highest CAGR
of 7.8% during the forecast period. Countries like India, China, Taiwan,
South Korea, and Japan are rapidly catching up with the growth in the foam
tape market. Adhesive tapes manufacturing and consumption have shifted
from North America to Asia.
- Key participants 3M Company, Tesa SE, Denko Corporation, Lintec Corporation, Intertape Polymer Group, Inc., Avery Dennison Corporation, Scapa Group Plc, Halco, 3F, and Seal King Ind Co. Ltd., among others.
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