Foam Tape Market Size (2024 - 2029)

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).