Foam Tape Market Report 2024

This Foam Tape market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The foam tape market size has grown strongly in recent years. It will grow from $9.26 billion in 2023 to $10.02 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth observed in the historical period can be linked to the automotive sector being a significant consumer of foam tapes, the expansion of the construction industry, and the widespread use of foam tapes in various applications within the electronics sector. Additionally, industries such as automotive and aerospace have emphasized the importance of lightweight materials to enhance fuel efficiency, utilizing pressure-sensitive adhesives and acrylic adhesives in foam tapes.

The foam tape market size is expected to see strong growth in the next few years. It will grow to $13.77 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The anticipated growth in the forecast period is driven by the demand for low-emission, eco-friendly foam tapes, with the increasing popularity of electric vehicles likely boosting this market. Furthermore, the rise of smart home devices and Internet of Things (IoT) technologies, along with the rapid growth of e-commerce and a heightened focus on energy conservation, will contribute to this trend. Key trends during the forecast period include the development of bio-based foam tapes with reduced VOC emissions, a shift toward more advanced foam tape solutions, increasing automation in industries such as automotive and electronics, a greater emphasis on providing customized solutions from manufacturers, and an expansion in infrastructure and automotive production.

The rising demand from the construction sector is anticipated to drive the foam tape market's growth in the future. Construction encompasses various tasks related to developing infrastructure for sewage, stormwater, and nonpoint-source projects. This surge in construction activity is attributed to rapid urbanization, infrastructure expansion, and technological innovations. Foam tape is particularly useful for sealing gaps and joints in construction, especially around windows, doors, and other openings. For example, in June 2024, TST Europe, a Swiss manufacturer of quick-release couplings, reported that total construction spending in the U.S. reached $1.98 trillion in 2023, marking a 7.4% increase from the previous year. As of 2023, the U.S. had around 745,000 construction businesses. Thus, the growing demand from the construction industry is fueling the foam tape market.

Leading companies in the foam tape sector are creating acrylic foam tapes that offer enhanced bonding strength and durability. These tapes are recognized for their strong adhesion to various surfaces, such as metals, plastics, and glass, and they are resistant to extreme temperatures, moisture, and UV radiation. For instance, in November 2023, CCL Design, a Canadian packaging and labeling firm, introduced the 5400 LSE acrylic foam tape series, which allows for primerless adhesion to plastics, thereby simplifying application and boosting efficiency. This tape provides an exceptionally strong bond to polypropylene (PP) and adheres well to automotive paints, making it suitable for automotive uses. Moreover, it is free from perfluoroalkyl and polyfluoroalkyl substances (PFAS), catering to the increasing demand for environmentally friendly products.

In June 2022, Clearlake Capital Group L.P., a U.S.-based private equity firm, acquired Intertape Polymer Group Inc. for $2.6 billion. This acquisition is expected to significantly enhance Intertape's capabilities in the foam tape market by increasing investment in innovation, sustainability efforts, operational enhancements, and market expansion. Intertape Polymer Group Inc. specializes in manufacturing packaging products and foam tapes.

Major companies operating in the foam tape market are 3M Company, Avery Dennison, Berry Global Inc, Nitto Denko Corporation, Tesa Se, LINTEC Corporation, Intertape Polymer Group, Scapa Group, Vibac Group S.p.A., Yongle Tape Co Ltd., American Biltrite, CCT Tapes, DeWAL Industries Inc., Parafix Tapes & Conversions Ltd, Advance Tapes International Ltd., HALCO Europe Ltd., AFT Company, ECHOtape, 3F Industries, Ajit Industries, Lynvale Ltd., Saint-Gobain Performance Plastics, Tape-Rite Co Inc, Seal King Ind Co. Ltd., Zhongshan Crown Adhesive Products Co Ltd.

Asia-Pacific was the largest region in the foam tape market in 2023, and is expected to be the fastest-growing region in the forecast period. The regions covered in the foam tape market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the foam tape market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Foam tape is a form of adhesive tape made from foam material. It offers cushioning, sound dampening, and sealing capabilities, making it suitable for a wide range of applications. Foam tape is frequently utilized for mounting, gasketing, and insulation purposes. Its adaptability and robust adhesive backing enable it to adhere to uneven surfaces, absorb shock, and deliver thermal insulation.

The primary categories of foam tape include single-sided foam tape and double-sided foam tape. Single-sided foam tape has adhesive applied to just one side of the foam, while the opposite side serves as a cushioned protective layer. The various types of foam comprise polyethylene, polyurethane, neoprene, acrylic, among others, along with several resin types such as rubber, silicone, acrylic, and ethylene-vinyl acetate (EVA). Different technologies include solvent-based, water-based, and hot-melt-based options, catering to sectors such as automotive, construction, electrical and electronics, aerospace, packaging, and more.

The foam tape market research report is one of a series of new reports that provides foam tape market statistics, including foam tape industry global market size, regional shares, competitors with a foam tape market share, detailed foam tape market segments, market trends, and opportunities, and any further data you may need to thrive in the foam tape industry. This foam tape market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The foam tape market consists of sales of vinyl nitrile foam tape, urethane foam tape, conductive foam tape, and closed-cell foam tape. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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