Dublin, Oct. 14, 2020 (GLOBE NEWSWIRE) — The “Foam Tape Market – Growth, Trends, and Forecast (2020-2025)” report has been added to ResearchAndMarkets.com’s offering.
The foam tape market is expected to grow at a CAGR of over 6% during the forecast period.
One of the main factors driving the market is growing demand of foam tape from automotive industry. However, volatility in raw material price of foam tape is expected to hinder the growth of the market studied.
Growing demand of foam tape from lightweight electrical vehicle is likely to act as an opportunity for the market studied in the coming years.
Key Market Trends
Increasing Demand of Foam Tape from Automotive Sector
- Foam tapes are utilized for sound hosing, insulating, gasketing, padding/cushioning, and fixing and are intended to upgrade the appearance and improve the general performance of designed product.
- Additionally, Foam tape can withstand is -40F to 300F and it can resists moisture, ultraviolet rays from the sun, and solvents, providing high bonding strength to compensate for different thermal expansions.
- Foam tape are used in automotive industry such as bonding plastic emblems onto metal substrates, sealing windows, doors, sun roofs, and trunks/hatches etc.
- Owing to a huge growth in population, rising per capita income as well as economic development in countries, like China, India, and other ASEAN countries, will drive the automotive industry significantly in Asia-Pacific region.
- Hence, owing to the above-mentioned factors, the application of foam tape from automotive industry is likely to dominate during the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market for foam tape during the forecast period. The rising demand of foam tape from construction industry with growing population in developing countries like India and China.
- The largest producers of foam tape are located in Asia-Pacific region. Some of the leading companies in the production of foam tape are 3M, HALCO, NITTO DENKO CORPORATION, Wuxi Canaan Adhesive Technology Co., Ltd and Lohmann GmbH & Co. KG among others.
- Ruling Govt. Initiatives such as Housing for all the government’s flagship scheme PMAY launched in June 2015 aims to build 20 million urban homes and 30 million rural houses by 2022, Smart Cities, etc. are fuelling the growth of the Urban Infrastructure and construction development.
- The National Development and Reform Commission (NDRC) announced that the restrictions will be loosened on the second-hand auto market, and appropriate subsidies will be provided to boost rural sales of some vehicles, as well as the purchase of new energy vehicles.
- Owing to the above-mentioned factors, the market for foam tape in the Asia-Pacific region is projected to grow significantly during the study period.
The global foam tape market is partially fragmented in nature with only few major players dominating the market. Some of the major companies are 3M, HALCO, NITTO DENKO CORPORATION, Wuxi Canaan Adhesive Technology Co., Ltd and Lohmann GmbH & Co. KG among others.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Key Topics Covered:
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Increasing Demand of Foam Tape from Automotive Sector
4.1.2 Other Drivers
4.2.1 Volatility in Raw Material Price of Foam Tape
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter’s Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1 Foam Type
5.2.1 Single Sided Foam Tape
5.2.2 Double Sided Foam Tape
5.3 Resin Type
5.4 By Technology
5.5 End-User Industry
5.5.3 Electrical and Electronics
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.6.2 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
5.6.4 South America
126.96.36.199 Rest of South America
5.6.5 Middle-East and Africa
188.8.131.52 Saudi Arabia
184.108.40.206 South Africa
220.127.116.11 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.2 NITTO DENKO CORPORATION
6.4.4 Tesa Tapes Private Limited
6.4.6 LINTEC Corporation
6.4.7 Avery Dennison Corporation
6.4.8 Intertape Polymer Group Inc.
6.4.9 3F GmbH Klebe- & Kaschiertechnik
6.4.10 Lamatek, Inc
6.4.11 Wuxi Canaan Adhesive Technology Co., Ltd
6.4.12 Lynvale Ltd
6.4.13 Lohmann GmbH & Co. KG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Demand of Foam Tape from Lightweight Electrical Vehicle
7.2 Other Opportunities
For more information about this report visit https://www.researchandmarkets.com/r/lg2lle
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