Yahoo Finance With 6.8% CAGR, Foam Tape Market to Reach $ 14.70 Billion by 2028 | Industry Size, Share, Growth Factors & Forecast; Says Vantage Market Research
WASHINGTON, Dec. 09, 2021 (GLOBE NEWSWIRE) -- This is accredited to the wide application base of foam tape across various industries including Automotive, Building & Construction, Electrical & Electronics, and Paper & Printing. Recovering automotive industry is likely to generate demand for foam tapes during the upcoming years, states Vantage Market Research, in a report, titled “Foam Tape Market by Type (Single Sided Foam Tape, Double Sided Foam Tape) by Resin Type (Rubber, Silicone, Acrylic, Other Resin Types) by Technology (Solvent-Based, Water-Based, Hot-Melt-Based) , by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028).” report has been added to VantageMarketResearch.com offering.
“According to the latest research study, the demand of global Foam Tape Market size & share expected to reach to USD 14.70 Billion by 2028 from USD 8.6 Billion in 2020, at a compound annual growth rate (CAGR) of 6.8% during the forecast period 2021 to 2028.”
Market Overview:
Swift Recovery of Automotive Industry to Stimulate demand for Foam Tapes
The automotive industry being the largest consumer of foam tapes, its recovery after COVID-19 is likely to have a positive impact on the growth of the Global Foam Tape Market. A wide application base is the primary demand driver for foam tape in the automobile industry. Foam tape is used in a variety of automotive applications such as body & bumper side moldings, roof molding, emblem & nameplates, outer belt moldings, plate panels, side mirrors, rear spoilers, rocker panel/claddings, and side fenders/wheel flares. Festive months, November and December of 2021 are expected to act as a catalyst, and sales in the automotive industry may continue to climb again. Moreover, social distancing norms and declining use of public transport are anticipated to fuel the demand for passenger vehicles especially in the developing economies from the Asia Pacific and Latin America. In addition to that, the rising trend of light vehicles combined with the immensely growing electric vehicles market is set to boost the demand for foam tape in near future, positively impacting the growth of the global foam tape market.
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In-depth Industry Analysis, Introduction, Overview, and COVID-19 Pandemic Outbreak.
Impact Analysis 160+ Pages Research Report (Including latest research).
Provide chapter-wise guidance on request 2020 Updated Regional Analysis with Graphical Representation of Trends, Size, & Share, Includes Updated List of figures and tables.
Updated Report Includes Major Market Players with their Sales Volume, Business Strategy and Revenue Analysis by using VMR research methodology.
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The report on Foam Tape Market highlights:
Assessment of the market
Premium Insights
Competitive Landscape
COVID Impact Analysis
Historic Data, Estimates and Forecast
Company Profiles
Global and Regional Dynamics
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. The automotive industry witnessed an unprecedented decline in production during the start of 2020. Chinese automobile sales plunged by approximately 71% in February 2020, while U.S. and European automobile industries witnessed sales drop by around 48% and 75% respectively by April 2020. China being the largest producer and consumer of foam tapes, the global market has undergone disruption in the supply of Chinese parts exports on a large scale. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
Impact Assessment of COVID-19 Pandemic
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
Key Strategies Undertaken by Companies to Tackle COVID-19
Long Term Dynamics
Short Term Dynamics
Important questions answered in this report:
What is the estimated market size and growth rate of the Foam Tape Market?
Which segments are included in the Foam Tape Market?
Which top companies are active in the Foam Tape Market?
What are the major driving factors for the growth of the Foam Tape Market?
How can I get free sample reports or study of Foam Tape Market?
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Wide Application Base of Foam Tapes in Various End-use Sectors
Apart from the automotive industry, foam tapes are widely used in building & construction, electronic devices, aerospace & defense, printing, healthcare, solar energy, wind energy, packaging, woodworking, among others. Such wide applications aided the Global Foam Tape Market in maintaining the supply-demand gap in proportion. After the automobile industry, building and construction is the largest consumer of foam tape. Foam tape is used in abatement, glazing, HVAC, and insulation applications in the building & construction industry.
Regional Analysis:
The Asia Pacific to Witness Substantial Growth During Forecast Period
The Asia Pacific has emerged as the largest consumer of foam tape in 2020 and is likely to continue the same trend during the forecast period. This primarily accredited to the huge automotive and construction industry in the region. Moreover, the presence of developing economies such as China, India, and Indonesia are further expected to fuel the growth of the Asia Pacific Foam Tape Market during the upcoming years. The Indian automobile industry is set to witness ‘V’ shape recovery in the near future owing to the rapid decline in the COVID cases, convalescing economy, and rising demand for passenger vehicles in the country. In addition to that, the growing automotive and construction industry in China, Indonesia, and Thailand among others will provide as boost to the market. Apart from this, the availability of cheap labor, rising electric vehicle production, low taxes, availability of raw materials are some of the other factors positively impacting the growth of the Foam Tape Market in the region.
Europe and North America are likely to witness substantial growth in the Foam Tape Market during the forecast period. This is accredited to the rising demand for foam tapes from countries like the U.S., Germany, and France.
List Of Prominent Players in the Foam Tape Market:
Sr. No. | Companies | Location |
1. | 3M Company | Minnesota, U.S. |
2. | Nitto Denko Corporation | Osaka, Japan |
3. | TESA SE | Schleswig-Holstein, Germany |
4. | Lintec Corporation | Tokyo, Japan |
5. | Avery Dennison Corporation | California, U.S. |
6. | Intertape Polymer Group, Inc | Montreal, Canada |
7. | Scapa Group PLC | Greater Manchester, UK |
8. | Lohmann GmbH & Co. Kg | Neuwied, Germany |
9. | 3F GROUP | Andhra Pradesh, India |
10. | HALCO Europe | Hereford, HR2 6JF, UK |
Advantages of this Research:
Evaluate market share for commercial Foam Tape market opportunities, track market size, competitive drug sales, synthesis insights for commercial development and licensing.
Develop tactics and strategies to take advantage of opportunities in the Foam Tape market.
Latest Trends and Market Events and analyze essential events in Foam Tape market.
Develop an in-depth knowledge of competition and analyze sales data to update your brand planning trackers.
Answer vital business questions; supports decision making in R&D to long term marketing strategies.
Develop economic models, forecast models, and healthcare frameworks.
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Recent Developments in the Industry:
1. January 2021: Avery Dennison Performance Tapes announced the extension of its acrylic foam bonding portfolio with the introduction of a 94 series product line.
2. July 2021: UltraTape, a division of Delphon announced the launch of a new 1161 premium grade Electrical Tape, which is pressure sensitive rubber-based adhesive.
Browse market data Tables and Figures spread through Pages and in-depth TOC on "Foam Tape Market by Type (Single Sided Foam Tape, Double Sided Foam Tape) by Resin Type (Rubber, Silicone, Acrylic, Other Resin Types) by Technology (Solvent-Based, Water-Based, Hot-Melt-Based), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)."
View detailed Table of Content here - https://www.vantagemarketresearch.com/press-release/foam-tape-market-974602
This market titled “Foam Tape Market” will cover exclusive information in terms of Geographic Segmentation, Regional Analysis, Forecast, and Quantitative Date – Units, Key Market Trends, and various others as mentioned below:
Report Attribute | Details |
Expected CAGR Growth | CAGR of 6.81% from 2021 to 2028 |
Market Size 2020 Value | USD 8.6 Billion |
Market Forecast for 2028 | USD 14.70 Billion |
Base Year | 2020 |
Historic Years | 2016 - 2019 |
Forecast Years | 2021 - 2028 |
Segments Covered | Type: Single-Sided Foam Tape and Double Sided Foam Tape |
Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2021 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Table of Content –
Chapter No. 1: Introduction
Report Scope
Objectives of the Study
USP & Key Offerings
Target Audience
Vantage Market Research Report Guidance/Walk-through
Chapter No. 2: Premium Insights
Market Snapshot
Top Investment Pockets
Market Attractiveness Analysis, By Type
Market Attractiveness Analysis, By Resin Type
Market Attractiveness Analysis, By Technology
Market Attractiveness Analysis, By Asia Pacific
Insights from Primary Respondents
Chapter No. 3: Key Market Dynamics
Introduction
Market Drivers
Market Restraints
Market Opportunities
Porter’s Five Forces Analysis
PEST Analysis
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