Foam Tape Market Size (2024 - 2029)

The foam tape market is anticipated to experience growth over the forecast period, despite challenges posed by the COVID-19 pandemic, which disrupted global supply chains and affected industries like aerospace, automotive, and construction. The market's expansion is expected to be driven by increasing demand from the construction sector and opportunities arising from the use of foam tape in lightweight electric vehicles. The Asia-Pacific region is projected to lead in market consumption, with significant contributions from countries such as India and China.

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Market Size of Foam Tape Industry

Foam Tape Market Overview
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 6.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Foam Tape Market Major Players

*Disclaimer: Major Players sorted in no particular order

Foam Tape Market Analysis

The foam tape market is projected to register a CAGR of more than 6% during the forecast period (2021-2026).

The growth of the market is hampered by the COVID-19 pandemic, as lockdowns, social distances, and trade sanctions have triggered massive disruptions to global supply chain networks. Due to lockdown in various countries, most of the industries or factories were temporarily shut down and have impacted the growth of the aerospace, automotive, and construction segments. For instance, automobile production in 2020 witnessed a decline of 15.8% compared to 2019 due to the pandemic situation and shutdown of manufacturing facilities.

  • Over the medium term, the increasing demand from the construction industry is projected to drive the market during the forecast period.
  • The growing demand for foam tape from lightweight electrical vehicles is likely to act as an opportunity for the market studied in the coming years.
  • The Asia-Pacific region is expected to dominate the market with the largest consumption from countries, such as India and China.

Foam Tape Industry Segmentation

Foam tapes are used for temporary or permanent fastening, packaging, acoustic dampening, thermal insulation, and gap filling. They are made of open-cell or closed-cell foams, coated with different types of pressure-sensitive adhesives (PSAs), and they come in a variety of thicknesses. Each foam tape has unique features and ideal purposes. The foam tape market is segmented by foam type, type, resin type, technology, end-user industry, and geography. By foam type, the market is segmented into polyethylene, polyurethane, neoprene, acrylic, and other foam types. By type, the market is segmented into single sided foam tape and double sided foam tape. By resin type, the market is segmented into rubber, silicone, acrylic, EVA, and other resin types. By technology, the market is segmented into solvent-based, water-based, and hot-melt-based, and by end-user industry, the market is segmented into automotive, construction, electrical and electronics, aerospace, packaging, and other end-user industries. The report also covers the market size of and forecasts for the foam type market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).

Foam Type
Polyethylene
Polyurethane
Neoprene
Acrylic
Other Foam Types
Type
Single Sided Foam Tape
Double Sided Foam Tape
Resin Type
Rubber
Silicone
Acrylic
EVA
Other Resin Types
Technology
Solvent-Based
Water-Based
Hot-Melt-Based
End-user Industry
Automotive
Construction
Electrical and Electronics
Aerospace
Packaging
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Mexico
Canada
Rest of North America
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Foam Tape Market Size Summary

The foam tape market is anticipated to experience a steady growth trajectory over the forecast period, despite initial setbacks caused by the COVID-19 pandemic, which disrupted global supply chains and impacted key industries such as aerospace, automotive, and construction. The pandemic led to significant declines in automobile production and temporary shutdowns of factories, affecting the demand for foam tape. However, the market is expected to recover and expand, driven by increasing demand from the construction industry and opportunities in the automotive sector, particularly with the rise of lightweight electric vehicles. The Asia-Pacific region is projected to lead the market, with substantial consumption from countries like India and China, where the construction industry is booming due to population growth and urbanization.

Foam tapes are versatile products used for various applications, including sound hosing, insulating, gasketing, and bonding in the automotive industry. They offer high bonding strength and resistance to extreme temperatures, moisture, and UV rays, making them suitable for diverse industrial uses. The market is characterized by fragmentation, with major players like 3M, HALCO Europe Ltd, NITTO DENKO CORPORATION, Scapa, and LINTEC Corporation holding significant shares. Strategic acquisitions, such as RPM's acquisition of Schul International Co., LLC, highlight ongoing efforts to expand product offerings and market reach. As the market recovers from the pandemic's impact, it is poised for growth, particularly in the Asia-Pacific region, where construction and automotive activities are expected to rebound.

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Foam Tape Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand from the Construction Industry

      2. 1.1.2 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Declining Automotive Industry

      2. 1.2.2 Impact of COVID-19 on the Market

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Foam Type

      1. 2.1.1 Polyethylene

      2. 2.1.2 Polyurethane

      3. 2.1.3 Neoprene

      4. 2.1.4 Acrylic

      5. 2.1.5 Other Foam Types

    2. 2.2 Type

      1. 2.2.1 Single Sided Foam Tape

      2. 2.2.2 Double Sided Foam Tape

    3. 2.3 Resin Type

      1. 2.3.1 Rubber

      2. 2.3.2 Silicone

      3. 2.3.3 Acrylic

      4. 2.3.4 EVA

      5. 2.3.5 Other Resin Types

    4. 2.4 Technology

      1. 2.4.1 Solvent-Based

      2. 2.4.2 Water-Based

      3. 2.4.3 Hot-Melt-Based

    5. 2.5 End-user Industry

      1. 2.5.1 Automotive

      2. 2.5.2 Construction

      3. 2.5.3 Electrical and Electronics

      4. 2.5.4 Aerospace

      5. 2.5.5 Packaging

      6. 2.5.6 Other End-user Industries

    6. 2.6 Geography

      1. 2.6.1 Asia-Pacific

        1. 2.6.1.1 China

        2. 2.6.1.2 India

        3. 2.6.1.3 Japan

        4. 2.6.1.4 South Korea

        5. 2.6.1.5 Rest of Asia-Pacific

      2. 2.6.2 North America

        1. 2.6.2.1 United States

        2. 2.6.2.2 Mexico

        3. 2.6.2.3 Canada

        4. 2.6.2.4 Rest of North America

      3. 2.6.3 Europe

        1. 2.6.3.1 Germany

        2. 2.6.3.2 United Kingdom

        3. 2.6.3.3 Italy

        4. 2.6.3.4 France

        5. 2.6.3.5 Rest of Europe

      4. 2.6.4 South America

        1. 2.6.4.1 Brazil

        2. 2.6.4.2 Argentina

        3. 2.6.4.3 Rest of South America

      5. 2.6.5 Middle-East and Africa

        1. 2.6.5.1 Saudi Arabia

        2. 2.6.5.2 South Africa

        3. 2.6.5.3 Rest of Middle-East and Africa

Foam Tape Market Size FAQs

The Foam Tape Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)

3M, NITTO DENKO CORPORATION, LINTEC Corporation, HALCO Europe Ltd and Scapa are the major companies operating in the Foam Tape Market.

Foam Tape Market Report Snapshots

Foam Tape Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)