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Increasing use of foam tape for insulation, sound absorption and surface protection, and the growing demand in various end-use industries are key factors driving market growth
New York, November 10, 2021/PRNewswire/--Reports and Data released its latest report, titled "Foam tape market size, share and analysis, by type (polyethylene, polyurethane, acrylic, etc.), by resin Type (acrylic, rubber, silicone and others), by technology (water-based, solvent-based and hot melt adhesive), by end use (paper and printing, electrical and electronic, automotive, and building and construction), and by region forecast to 2028 ."
According to reports and data, the global foam tape market will be worth 8.58 billion U.S. dollars in 2020 and is expected to reach 14.24 billion U.S. dollars by 2028, and the compound annual growth rate of revenue during the forecast period 2021-2028 will be 6.5%.
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Foam tape is widely used to fill gaps, provide insulation, absorb sound and protect various surfaces. These tapes provide enhanced protection from dust, moisture, noise, shock, and temperature fluctuations. Different types of foam tape are used in electrical and automotive applications. Foam tape is used to connect decorative parts and adhesive seals, as well as covering electronic components and internal casings, as well as various other parts. In addition, foam tape is used in a wide range of binding and sealing applications. The application of foam tape is expanding in various manufacturing industries, which is expected to continue to drive market revenue growth during the forecast period.
Foam tape can withstand high levels of vibration, has high strength characteristics, and is resistant to cold, dust, and gas. It is widely used to replace mechanical fasteners. The foam tape is very flexible, which makes the product very suitable for filling spaces, and can also be applied to irregular surfaces. Foam tape has good moisture resistance, sun UV resistance and impact resistance. Foam tape comes in a variety of sizes and cutting forms, such as sheets, cut strips, and die-cut shapes. The foam tape is highly adaptable and can provide cushioning, insulation, weatherproof, ozone resistance and anti-skid. Foam tape also offers various foam ranges, such as soft, medium and hard density foams in closed or open cell form. PVC, polyurethane, polyethylene and neoprene are some of the key compounds used to make foam tapes. Foam tape is usually in rolls and has a removable backing layer that can be peeled off before use. Compared with mechanical fasteners, foam tape has many advantages, such as quick and easy application, better heat and sound insulation. On the other hand, mechanical fasteners require drilling and screw deployment. Drilling and metal in specific applications can lead to leakage, increased corrosion potential, and related damage. These are various other factors that drive preference and usage, which are steadily contributing to market growth.
In addition, foam tape is a better alternative to liquid adhesives because the adhesives need to be mixed before use, which creates waste, requires preparation time, and has a short shelf life. Recently, foam tape has been increasingly used in automotive, paper and printing, and many other end-use industries. Recent research and development progress has led to the development of biodegradable foam tapes and the improvement of the efficiency of insulating foam tapes. Increasing attention to environmentally friendly products and preference for high-efficiency products will continue to support market growth. However, the high cost associated with the production and processing of foam tape is a key factor that is expected to limit future market growth to a certain extent.
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Acrylic resin type market segments that account for the largest revenue share:
The acrylic resin type part is expected to account for the largest revenue share of the global market during the forecast period. This is due to the increasing use of acrylic foam tape in the aerospace, automotive and healthcare industries. It is characterized by ease of application and shear volume. , Strong adhesion, anti-ultraviolet rays, and excellent adhesion to plastic surfaces.
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Significant growth in revenue in the polyethylene foam type segment market:
The use of polyethylene foam for shock absorption, insulation, vibration reduction and sound insulation, and cushioning in various end-use industries such as aerospace, construction, packaging, household and electronic appliances, has been increasing. Polyethylene foam is coated with a high-performance and cost-effective adhesive that provides a strong bond between light surfaces and is widely used in printing and manufacturing applications. These tapes are available in a variety of thicknesses and widths, and can be customized for various applications.
Stable income growth in North America:
Due to the rapid expansion of the automotive industry and the increase in demand for passenger cars, the increase in the number of construction and construction projects, the development of more advanced manufacturing technologies, and the growing demand for foam tape, North America is expected to achieve steady revenue growth during the forecast period , And introduce environmentally friendly adhesives and tape substitutes.
The Asia-Pacific region leads in terms of revenue share:
Due to the increased demand and rapid adoption of foam tape in the automotive, construction and construction, and electrical and electronic industries, the Asia-Pacific region is expected to account for the largest revenue share during the forecast period. The rapid development of advanced manufacturing infrastructure, R&D progress, and the availability of raw materials are other key factors that are expected to contribute to revenue growth in the Asia-Pacific market.
Major companies in the market include:
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For the purpose of this report, the report and data segment the global foam tape market based on resin type, foam type, technology, end use, and region:
Resin type outlook (length, million meters; revenue, billion US dollars; 2018-2028)
Bubble type outlook (length, million meters; revenue, billion US dollars; 2018-2028)
Technology type outlook (length, million meters; revenue, billion US dollars; 2018-2028)
End-use outlook (length, million meters; revenue, billions of dollars; 2018-2028)
Regional outlook (length, million meters; revenue, billion US dollars; 2018-2028)
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