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Double Sided Foam Tape Market Size, Share, Analysis, Trends And Strategies 2024-2033
Double Sided Foam Tape Market Size
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According to The Business Research Company's, The double sided foam tape market size has grown strongly in recent years. It will grow from $7.05 billion in 2023 to $7.71 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to growth in the automotive industry, rising demand in electronics, increasing use in packaging, expansion of the construction sector, demand for lightweight materials.
The double sided foam tape market size is expected to see strong growth in the next few years. It will grow to $11.1 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to rising demand for consumer electronics, increase in e-commerce, expansion of the aerospace industry, rising demand for sustainable solutions, increasing focus on energy efficiency. Major trends in the forecast period include adoption of eco friendly materials, integration of smart technologies, implementation of advanced adhesive technologies, development of high temperature resistant tapes, integration with automotive applications.
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Market Drivers and Trends:
The increasing construction activities are expected to propel the growth of the double-sided foam tape market going forward. Construction activities refer to the processes involved in creating and developing structures such as roads, buildings, and other infrastructure. The growing urban areas, rising population, and ongoing infrastructure enhancement initiatives have driven the construction activities. Double-sided foam tape is used in construction to securely bond surfaces without visible fasteners, such as mounting, sealing, and insulation. For instance, in June 2024, according to the Office for National Statistics, a UK-based independent producer of official statistics, construction new orders rose by 15.9% to $1,908 million (£1,436 million) in quarter 1 2024 compared to quarter 4 2023. This increase was primarily driven by a 27.9% rise in private commercial new work, amounting to $930 million (£700 million), and a 43.8% jump in public other new work, totaling $712.2 million (£536 million). Therefore, the increasing construction activities are driving the double-sided foam tape market.
Major companies operating in the double-sided foam tape market are focusing on developing innovative products, such as UV-resistant acrylic foam tapes, to enhance durability and performance in outdoor applications. UV-resistant acrylic foam tapes are adhesive tapes designed to withstand prolonged exposure to ultraviolet (UV) rays without degrading. They are commonly used outdoors to ensure long-lasting bonding strength and durability in harsh environments. For instance, in November 2023, CCL Design, a UK-based manufacturer of UL labels, printed electronics, precision die-cuts, and brand security applications, launched the 5400 LSE acrylic foam tape series, showcasing significant advancements in adhesive technology. This series is particularly notable for its primerless adhesion to various substrates, including low- and medium-surface energy plastics, and it offers an ultra-strong bond to polypropylene (PP) and excellent adhesion to automotive paints.
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Major Key Players of the Market:
Compagnie de Saint-Gobain S.A., 3M Company, Berry Global Inc., Sika AG, SEKISUI Chemical Co. Ltd., Nitto Denko Corporation, Uline Inc., tesa SE, Lintec Corporation, ORAFOL Europe GmbH, Intertape Polymer Group Inc., Rogers Corporation, Essentra plc, Lohmann GmbH & Co. KG, Avery Dennison Corporation, Flexcon Company Inc., Scapa Group Ltd., Shurtape Technologies LLC, Adhesives Research Inc., CCT Tapes (Custom Coating & Converting), Adchem Corporation, Halco Products Corporation
Double Sided Foam Tape Market 2024 Key Insights:
• The double sided foam tape market size is expected to see strong growth in the next few years. It will grow to $11.1 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%.
• Rising Construction Activities Drive Growth In Double Sided Foam Tape Market
• Innovative Acrylic Foam Tapes Driving Advancements in the Double-Sided Foam Tape Market
• North America was the largest region in the double sided foam tape market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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