Foam Tape Market Profile | Demand, Revenue and Trends | In-depth Research 2023
The market is propelled by immense use of foam tape in various industries due to which the market is steadily witnessing tremendous growth. In addition to this, the application of the product for splicing, bonding, mounting and holding is estimated to further fast-track the trends of the market in an extensive manner.
(firmenpresse) - The global foam tape market is estimated to register massive growth between 2018 and 2023, in terms of value. Foam tape has been experiencing an upsurge in research and development activities to advance the properties and make it wide-ranging. Thanks to the investors who have started investing heavily into this market owing to the initiatives that the government has been taking by indicating foam tape as an eco-friendly product.
The market is propelled by immense use of foam tape in various industries due to which the market is steadily witnessing tremendous growth. In addition to this, the application of the product for splicing, bonding, mounting and holding is estimated to further fast-track the trends of the market in an extensive manner. The major technology variant of the foam tape market are solvent, water and hot-melt. Among all of these, hot-melt technology segmented is estimated to account for the highest share during the forecast period because it is vastly used in wind, solar energy, aerospace & defense and healthcare industries due to its great bond formatting techniques, which can help to accomplish high production rates.
Geographically, the Asia Pacific region is expected to dominate the market in the estimated time span, in terms of volume owing to numerous factors such as low taxes, automotive production, less stern environmental regulations and availability of raw materials and inexpensive labor. In addition to this, there is an immense demand of foam tape across the automotive, building & construction, electrical & electronics and paper & printing sectors, which will help the market to witness massive growth in the forthcoming years.
Some of the most important key players operating in the foam tape market are Intertape Polymer Group Inc., 3M Company, Lintec Corporation, Tesa SE, Nitto Denko Corporation, Scapa Group PLC, Halco, Avery Dennison Corporation and 3F. Intertape Polymer Group Inc. came up with a perfect solution named “Double-Coated Tape” for bonding applications between several substrates and surfaces in 2016. They have made it available in various sizes, types and solvent adhesive technologies. These technological advancements are extensively surging the growth of the market worldwide.
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