Reports And Data

High demand for PE foam type in applications which require filling of gaps between two bonded surfaces is a major factor driving revenue growth of this segment.

NEW YORK, NEW YORK, UNITED STATES, March 5, 2022 /EINPresswire.com/ -- The global foam tapes market is expected to reach a value of USD 14.24 Billion by 2028, and register a CAGR of 6.50%, according to a new report by Reports and Data. These tapes are specialty materials that are used in the construction industry for various purposes such as for sealing windows, making sun- roofs, noise cancellation, and many others.

The factors mentioned above jointly create opportunities for the market growth while factors such as critical effects of foam tapes add limitations in the market. However, each element would have a specific impact on the market during the forecast period. Consistent developments in the adhesive tapes market owing to innovative efforts have improved the efficiency of insulating foam tapes.

In the Asia Pacific region due to the sudden rise in population and rapid urbanization, the market for insulating products are propelling at a swift rate. The rising economy in counties like China and Japan due to magnificent political, social, and economic conditions. Construction industries and paper printing industries of the APAC region are using these tapes in the construction of houses and commercial space.

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Further key findings from the report suggest:

-Paper and printing industries held the largest market share of 36.4% in the year 2018. Foam tape materials are extremely cheap and can be recycled easily. This material has good insulating properties, high strength, absorbs moisture, flexible, low dielectric constant, and can be compressed easily. New technologies are introduced to make the foam tapes retain the mechanical properties for a long period of time.
-The hot melt-based technology is forecasted to witness the highest CAGR of 7.1% during the forecast period. This segment is rising since this technology is used in automotive, electrical and electronics, and paper and printing industries, among various others.
-Silicone type sector held the largest market share of 39.0% in the year 2018. China became the largest consumer of foam tape products owing to the ever-growing construction industry along with the paper and printing industries in this region because of the rise in population and industrialization. China became a leader in the world for production and consumption of adhesive tapes because of its low-cost labor, and rise in urbanization with an expanding economy compared with other countries.
-Asia Pacific is expected to witness the highest CAGR of 7.8% during the forecast period. Countries like India, China, Taiwan, South Korea, and Japan are rapidly catching up with the growth in the foam tape market. Adhesive tapes manufacturing and consumption have shifted from North America to Asia.
-Key participants 3M Company, Tesa SE, Denko Corporation, Lintec Corporation, Intertape Polymer Group, Inc., Avery Dennison Corporation, Scapa Group Plc, Halco, 3F, and Seal King Ind Co. Ltd., among others.

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Key Benefits of Buying the Global Foam Tape Report:

Comprehensive analysis of the changing competitive landscape
The report offers an 8-year forecast and assessment of the Global Foam Tape Market
Helps in understanding the key product segments and their estimated growth rate
In-depth analysis of market drivers, restraints, trends, and opportunities
Comprehensive regional analysis of the Global Foam Tape Market

Key Reasons for Purchasing Global Foam Tape Market Report:

-New approaches and latest development trend that describe the structure of the market
-Advanced market breakdown structure
-Historical data and future market scope
-In-depth market analysis based on statistics, growth stimulators, and market developments
-Statistical data representation through figurative, numerical, and theoretical elaboration
-Report provides insight of the business and sales activities
-Key competitive players and regional distribution will help find prospective market analytics
-Report will strengthen the investors’ decision-making processes

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