Global Foam Tape Market

Foam Tape Market Size, Share, Growth Analysis, By Foam Type(Polyethylene, Polyurethane, Neoprene, Acrylic), By Type(Single Sided Foam Tape, and Double-Sided Foam Tape), By End-user Industry(Automotive, Construction, Electrical & Electronics, Aerospace), By Resin Type(Rubber, Silicone, Acrylic, EVA), By Technology(Solvent-Based, Water-Based, and Hot-Melt-Based), By Region - Industry Forecast 2024-2031


Report ID: SQMIG25AF2005 | Region: Global | Published Date: February, 2024
Pages: 157 |Tables: 150 |Figures: 70

Foam Tape Market Insights

Global foam tape market size was valued at USD 9.7 billion in 2022 and is poised to grow from USD 10.28 billion in 2023 to USD 16.39 billion by 2031, growing at a CAGR of 6% in the forecast period (2024-2031).

An adhesive tape consisting of a foam material backing on either one or both sides is known as foam tape. Excellent insulation and adhesive properties of foam tapes make them a perfect choice for internal as well as external applications across different industry verticals. The shock and impact absorption ability of foam tapes are also a factor that is estimated to bolster its demand for mounting applications. It is also extensively used for splicing, holding, and bonding applications as well. Growing focus on sustainability is pushing the demand for sustainable foam tapes around the world. Custom and personalized foam tape production is also picking up as consumers and end-user industries ask for more specialized tape products. Advancements in tape manufacturing technology are also shaping the future of foam tape market growth.

Developing economies of India, China, Brazil, and Indonesia are estimated to emerge as highly opportune spaces for foam tape companies in the future. High temperature and moisture resistance of foam tapes will also expand its application scope in the long run. Surging focus on sustainability around the world is also anticipated to augment the global foam tape demand outlook going forward.

Market Snapshot - 2024-2031

Global Market Size

USD 9.7 billion

Largest Segment

Double Sided

Fastest Growth

Single Sided

Growth Rate

6% CAGR

Global Foam Tape Market ($ Bn)
Country Share for Asia Pacific Region (%)

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Foam Tape Market Segmental Analysis

The global foam tape market is segmented based on foam type, type, technology, resin type, end-user industry, and region. Based on foam type, the market is bifurcated into polyethylene, polyurethane, neoprene, acrylic, and other foam types. In terms of type, the market is segmented into single sided foam tape and double-sided foam tape. Based on resin type, the market is segmented into rubber, silicone, acrylic, EVA, and other resin types. Based on end-user industry, the market is divided into automotive, construction, electrical & electronics, aerospace, packaging, and other end-user industries. In terms of technology, the market is segmented into rubber, silicone, acrylic, EVA, and other resin types. Based on region, the market is segmented into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa.

Analysis by Type

Double-side foam tapes are projected to account for a prominent share of the global foam tape market. Excellent dampening properties and high strength of double-sided foam tapes are projected to push their demand across different industry verticals. The ability to adhere to two surfaces is unique to a double-sided tape. The high scope of application for this type of foam tape is also a key factor that allows this segment to account for a dominant market share.

Meanwhile, the single-side foam tape segment is slated to account for a rather lower share of the global marketplace. This type of foam tape is suitable for sealing and insulation applications in different industries such as construction and automotive. Rapidly expanding automotive production around the world and high investments in infrastructure development are also estimated to benefit foam tape demand outlook going forward.

Analysis by End-user Industry

The automotive industry is forecasted to dominate global foam tape sales across the forecast period. This can be attributed to the high use of foam tape for mounting, insulation, and sound-dampening purposes in different automotive applications. Increasing focus on the improvement of ride quality by lowering vibrations and noise will also promote the adoption of foam tapes in the automotive industry over the coming years. Growing focus on making vehicles lightweight to comply with changing emission mandates will also benefit the growth of this segment in the long run.

Meanwhile, the construction industry is slated to account for the second-largest share of the global foam tape market going forward. Rapid industrialization and high investments in infrastructure development around the world are also forecasted to augment the demand for foam tapes in the long run. Foam tape can be used to seal gaps in windows and doors and can also act as a simple waterproofing solution for the construction industry.

Global Foam Tape Market By Type, 2022 (%)

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Foam Tape Market Regional Insights

Robust investments in infrastructure development and a burgeoning automotive production activity allow the Asia-Pacific region to account for a dominant share of the global foam tape market. The expanding population base in this region and growing disposable income are also key factors that are estimated to favor the demand for foam tape in the future. China, Japan, and India are forecasted to be the top markets for any foam tape supplier in the Asia Pacific region going forward. High availability of cheap labor and raw materials in this region will also push foam tape manufacturers to set up their manufacturing facilities in this region going forward.

North America is estimated to account for a notable market share in the global foam tape marketplace. This can be attributed to the presence of a strong construction industry and a robust industrial base in this region. The United States is estimated to lead the demand for foam tape in the future. Canada is also forecasted to be a crucial market for any foam tape company operating in the North American region. Evolving packaging needs and growing demand for advanced adhesives in this region are also forecasted to bolster sales of foam tape in the long run.

Global Foam Tape Market By Region, 2024-2031
  • Largest
  • Fastest

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Foam Tape Market Dynamics

Drivers

Surging Use of Foam Tape in the Automotive Industry

  • Foam tape is being extensively used in vehicles for its excellent sound dampening and insulating properties. The affordable nature of foam tape allows automotive companies to achieve their desired product design while maintaining good profit margins.

Expansion of e-Commerce Activity

Increasing internet penetration and rising disposable income have boosted sales of products via e-commerce space and this has resulted in increased use of foam tape for packaging purposes.

Restraints

Expensive Production

  • Raw materials required to produce foam tapes are expensive, which automatically results in increased production costs, resulting in expensive end-products. Companies need to bring down the raw material costs to unlock the full growth scope of the marketplace.
  • Availability of Alternative Bonding Products

Despite the several advantages offered by foam tape, there are still multiple alternatives adhesion alternatives available in the global marketplace. The increasing number of people opting for these alternative adhesion products could also slow down the sales of foam tape over the coming years.

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Foam Tape Market Competitive Landscape

Foam tape manufacturers should focus on minimizing their production costs to create affordable products that will allow them to scale their business around the world. Companies should also focus on using sustainable and eco-friendly raw materials to maximize their business potential. Foam tape suppliers should emphasize expanding their product portfolio to boost sales and revenue generation potential going forward. Mergers, collaborations, and partnerships are also estimated to be popular strategies that companies can opt for to expand their market presence. Localization of manufacturing activity is a trend that will allow foam tape companies to maximize their profit margins in the future.

Top Player’s Company Profiles

  • GPI Corporation
  • ECHOtape
  • LINTEC Corporation
  • Saint-Gobain Performance Plastics
  • 3M Company
  • Fuji Chemical Industries Co. Ltd.
  • CCT Tapes
  • AFT Company
  • HALCO
  • Rolltape
  • Ajit Industries
  • Avery Dennison

Recent Developments

  • CCL Design, a renowned packaging and labeling company, announced the launch of a new foam tape back in November 2023. The 5400 Acrylic Foam Tape series features primeless adhesion properties and is excellent for automotive applications.

Foam Tape Key Market Trends

  • Eco-friendly Foam Tape Products: As the focus on sustainability increases around the world, the demand for eco-friendly foam tapes is slated to surge high going forward. Companies can stand out from the competition by using sustainable raw materials and eco-friendly manufacturing practices in the future.

Foam Tape Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

As per Skyquest analysis, rapidly increasing automotive production and infrastructure development activity around the world is forecasted to bolster the demand for foam tape over the coming years. Advancements in tape-making technologies and growing demand for custom foam tapes around the world are also forecasted to augment foam tape market growth across the forecast period. However, high raw material costs result in high production costs and impede sales of foam tape to a certain extent. Robust constriction activity and growing automotive manufacturing make the Asia Pacific region the largest market for foam tape in the world. Foam tape manufacturers should focus on the incorporation of sustainable and eco-friendly materials in their manufacturing process to comply with evolving sustainability standards around the world.

Report Metric Details
Market size value in 2022 USD 9.7 billion
Market size value in 2031 USD 16.39 billion
Growth Rate 6%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Foam Type
    • Polyethylene, Polyurethane, Neoprene, Acrylic, and Other Foam Types
  • Type
    • Single Sided Foam Tape, and Double-Sided Foam Tape
  • End-user Industry
    • Automotive, Construction, Electrical & Electronics, Aerospace, Packaging, and Other End-user Industries
  • Resin Type
    • Rubber, Silicone, Acrylic, EVA, and Other Resin Types
  • Technology
    • Solvent-Based, Water-Based, and Hot-Melt-Based
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • GPI Corporation
  • ECHOtape
  • LINTEC Corporation
  • Saint-Gobain Performance Plastics
  • 3M Company
  • Fuji Chemical Industries Co. Ltd.
  • CCT Tapes
  • AFT Company
  • HALCO
  • Rolltape
  • Ajit Industries
  • Avery Dennison
Customization scope

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  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Foam Tape Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Foam Tape Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Foam Tape Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Foam Tape Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Foam Tape Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Foam Tape Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

foam tape market size was valued at USD 9.7 billion in 2022 and is poised to grow from USD 10.28 billion in 2023 to USD 16.39 billion by 2031, growing at a CAGR of 6% in the forecast period (2024-2031).

Foam tape manufacturers should focus on minimizing their production costs to create affordable products that will allow them to scale their business around the world. Companies should also focus on using sustainable and eco-friendly raw materials to maximize their business potential. Foam tape suppliers should emphasize expanding their product portfolio to boost sales and revenue generation potential going forward. Mergers, collaborations, and partnerships are also estimated to be popular strategies that companies can opt for to expand their market presence. Localization of manufacturing activity is a trend that will allow foam tape companies to maximize their profit margins in the future. 'GPI Corporation', 'ECHOtape', 'LINTEC Corporation', 'Saint-Gobain Performance Plastics', '3M Company', 'Fuji Chemical Industries Co. Ltd.', 'CCT Tapes', 'AFT Company', 'HALCO', 'Rolltape', 'Ajit Industries', 'Avery Dennison'

Foam tape is being extensively used in vehicles for its excellent sound dampening and insulating properties. The affordable nature of foam tape allows automotive companies to achieve their desired product design while maintaining good profit margins.

Eco-friendly Foam Tape Products: As the focus on sustainability increases around the world, the demand for eco-friendly foam tapes is slated to surge high going forward. Companies can stand out from the competition by using sustainable raw materials and eco-friendly manufacturing practices in the future.

Robust investments in infrastructure development and a burgeoning automotive production activity allow the Asia-Pacific region to account for a dominant share of the foam tape market. The expanding population base in this region and growing disposable income are also key factors that are estimated to favor the demand for foam tape in the future. China, Japan, and India are forecasted to be the top markets for any foam tape supplier in the Asia Pacific region going forward. High availability of cheap labor and raw materials in this region will also push foam tape manufacturers to set up their manufacturing facilities in this region going forward.

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Global Foam Tape Market

Product ID: SQMIG25AF2005

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