Adhesive Foam Tape Market Growth, Trends and Forecast 2021 to 2028 | Lohmann GmbH & Co. KG, LINTEC Corporation, Saint Gobain, HALCO, Jintuo Adhesive Tape Co., Ltd, Ajit Industries Pvt. Ltd., 3F GmbH Klebe - & Kaschiertechnik.
Growing demand for foam tape is expected to drive the market in various end-use industries, such as electrical & electronics, building & construction, automotive, and paper & printing. The environmental issues and an increasing array of regulatory policies have forced foam tape producers to concentrate on the production of environmentally-friendly products. Volatile prices of raw materials serve as a constraint on the development of the demand for foam tape. The foam tape market is affected by rising costs for foam forms such as acrylic and PE around the globe. Petroleum-based derivatives that are vulnerable to fluctuations in commodity prices are the raw materials used in the development of foam tape.
Growth Drivers that Support the Global Adhesive Foam Tape Market:
• Due to a well-established automotive and construction industry in the region, North America currently leads the global market for acrylic foam tapes. Because of rapid industrialization in economies like India and China, Asia Pacific is expected to develop at a steady rate. Due to a slow-paced economy in the region, Latin America is expected to see sluggish growth during the forecast era. The Middle East & Africa region's development is due to the region's rising construction industry.
• There is a strong demand for PE-backed foam tape for applications requiring tapes to provide properties such as gap filling between two bonded surfaces. Properties such as sound levels reduction and shock absorption are also provided by PE-backed foam tape. This growth is due to its use in a wide range of applications in the automotive and building & construction industries, which are increasing rapidly in the APAC area due to increased private and public investment, a population increase, and an emphasis on the renewable energy sector.
• The main users of foam tape are the automotive and building & construction industries. There is a growing trend in the use of lightweight vehicles and electronic devices in vehicles, which is driving the demand for foam tape. In vehicles, foam tape is commonly used in the mounting of automotive logos and scripts, the attachment of automotive trimmings, and the bonding of various materials.
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Companies are Keen to Expand their Global Market
• In July 2016, over the next 10.5 years, 3M Business will invest USD 135 million in its Tuas Plant (Singapore). The business will produce acrylic foam tapes (Scotch Tape) through this expansion, which will be used in industries such as healthcare, packaging, and electrical & electronics.
• In March 2016, Nitto Denko combined Nitoms Inc., Nitto Medical Corporation, and Nitto Lifted Corporation into its three subsidiaries. The aim of the merger was to improve, develop, and sell foam tapes for various end-use industries such as healthcare, automotive, and others that were solvent-less.
Major companies functioning in the global Adhesive Foam Tape Market are Air Products and Chemicals, Inc., Linde plc, Air Liquide, The Andhra Sugars Limited, Iwatani Corporation, TAIYO NIPPON SANSO CORPORATION, United Hydrogen, Kawasaki Heavy Industries, Ltd., and Elme Messer Gaas AS.
• Electrical and Electronics
• Paper and Printing
• North America
o North America, by Country
o North America, by Type
o North America, by Application
• Western Europe
o Western Europe, by Country
Rest of Western Europe
o Western Europe, by Type
o Western Europe, by Application
• Asia Pacific
o Asia Pacific, by Country
Rest of Asia Pacific
o Asia Pacific, by Type
o Asia Pacific, by Application
• Eastern Europe
o Eastern Europe, by Country
Rest of Eastern Europe
o Eastern Europe, by Type
o Eastern Europe, by Application
• Middle East
o Middle East, by Country
Rest of Middle East
o Middle East, by Type
o Middle East, by Application
• Rest of the World
o Rest of the World, by Country
o Rest of the World, by Type
o Rest of the World, by Application
Reasons to Buy This Report:
• It provides niche insights for a decision about every possible segment helping in the strategic decision-making process.
• Market size estimation of the adhesive foam tape market on a regional and global basis.
• A unique research design for market size estimation and forecast.
• Identification of major companies operating in the market with related developments
• Exhaustive scope to cover all the possible segments helping every stakeholder in the adhesive foam tape market.
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