Foam Tape Market Analysis:
Foam tapes are used for sound dampening, insulating, gasketing, cushioning/padding, and sealing. They are designed to enhance the appearance and improve the overall performance of the product design. They take care of the sealing, bonding, and durability requirements of various industries due to their good dampness, insulation, and insulation properties. They also provide resistance to ultraviolet radiation, solvents, and moisture. These are commercially available in various sizes, shapes, and thicknesses. Acrylic foam tape is an ideal replacement for mechanical machinery where a very high bonding capacity is required; this type of tapes can withstand high temperatures and have excellent aging and weathering properties.
The end-use industries require tapes with durability, which are expensive. Foam tape demand is growing due to the increased use in many sectors such as automotive, paper & print, electrical & electronics as well as building & construction. In addition, various properties offered by foam tapes, such as higher strength, lighter weight, better texture, and water resistance, are some of the factors that are expected to increase acceptance.
COVID-19 scenario analysis:
- Attributed to coronavirus outbreak, the foam tape market has got affected on a large scale in all the sectors as manufacturing site was shut down.
- Gaps in demand-supply, price volatility, and changing government policy affect the growth of the market.
- Full-scale production is anticipated to resume in the second half of 2020. During this period, the supply chain is expected to normalize and grow further.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
The automotive and construction industries are major buyers of foam tape. In automobiles, foam tape is widely used in automotive badges, script installations, motor vehicle attachments as well as composite materials. Advances in manufacturing technology and end products provide opportunities for foam tape manufacturers. Continued product development made by various companies to make highly efficient and expensive foam tapes is expected to drive demand in industries, such as automotive, aerospace, solar energy, and wind power, during the forecast period. The growing R&D activities in foam tape development areas is expected to provide growth opportunities in the foam tape market in the next few years. Higher prices and lower availability of raw materials could hinder the growth of the global foam tape market.
Key benefits of the report:
- This study presents the analytical depiction of the foam tape market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global foam tape market share.
- The current market is quantitatively analyzed to highlight the global foam tape market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the foam tape market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Foam Tape Market Report Highlights
By Industry Vertical
Key Market Players
3F, AFT Company, Scapa Group PLC, Avery Dennison Corporation, GPI Corporation, Intertape Polymer Group, Lintec Corporation, Nitto Denko Corporation, 3M Company