Global Foam Tape Market Size, Share, Growth Analysis, By Foam Type(Polyethylene, Polyurethane), By Type(Single Sided Foam Tape, and Double-Sided Foam Tape), By End-user Industry(Automotive, Construction), By Resin Type(Rubber, Silicone), By Technology(Solvent-Based, Water-Based) - Industry Forecast 2024-2031

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

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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).

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 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.

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