Demand for Low-cost Flexible Packaging from Increasing Exports in Asia Pacific’s Food, Food Processing and Packaged Food Sectors to Augment Growth of the Foam Tape Market

Tue, 07 May 2019 6:43

Foam tapes offer resistance to solvents, ultraviolet rays, and moisture and offer adherence in temperatures ranging from −400°F to 300°F. Closed-cell foam, open-cell foam, and solid rubber foam are some of the categories of foam. With excellent durability and high thermal resistivity, these tapes offer manufacturers the liberty to design as per product and industry requirements. With permanent and reliable bonding properties, products can be used with a variety of materials such as glass, metal, and wood.

Foam tapes – predominantly used for insulating, sound dumping, padding, gasketing, and sealing – are designed to improve appearance and advance product performance.

Regional Landscape

Geographically, global foam tape market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Asia Pacific is expected to hold the largest foam tape market share, owing to the increasing adoption, due to their ease of applicability, in developing economies such as China, India, South Korea, Taiwan, Vietnam and Singapore. China is the leading market in Asia Pacific, owing to the growth of various end-use industries in the region, including electrical & electronics, paper & printing and automotive. With increasing exports in the food sector and development in the food-processing sector, the demand for low-cost flexible packaging has been witnessing a steep incline in the APAC region. Moreover, the demand for packaged food has also been growing in tandem with changing lifestyle, shifting consumer preference towards modern food habits and workplace habits.

North America is witnessing healthy growth in the global foam tape market, owing to the increasing demand for high strength and good flexibility in automotive and healthcare sectors. As the automotive industry is increasingly moving towards electric and autonomous vehicles, the need for foam materials in this sector is set to increase.

Europe is constantly looking for new, better and cheaper materials, due to the changing regulations and evolving requirements from end-use industries. Lower fuel prices, relatively low average age of cars in Europe and new car trends such as smaller city cars are the key factors driving the growth of the foam tape market in the automotive sector. Moreover, the growing focus on the use of lightweight materials and hybrid and electric vehicles is expected to accelerate the demand for product during the forecast period.

Latin America is witnessing steady foam tape market growth, owing to the stagnation of private investment and high uncertainty fueled by high inflation and a weakening labor market. The region’s paper and printing industry is registering prominent demand due to the increase in ad spending, personalization, outdoor advertising and specialization in packaging offer.

The Middle East & Africa region foam tape market is expected to witness stagnant growth in the electronics sector. The fastest growing category under portable consumer electronics is activity wearables, due to the growing awareness regarding the benefits of a healthy lifestyle among people.

Market Segmentation

Global foam tape market can be segmented by resin, technology, type, and end user.

By resin, foam tape market can be segmented into acrylic, rubber, silicone, and others (EVA and polyurethane). The silicone segment is expected to grow at the fastest rate, owing to the superior adhesion properties of these tapes. Silicone resin-based foam tapes can adhere to difficult surfaces over a larger temperature range.

By technology, foam tape market can be segmented into solvent-based, water-based and hot-melt-based. The hot-melt-based segment is projected to grow at a faster rate during the forecast period and these foam tapes predominantly find application in aerospace and defense, healthcare, and wind and solar energy industries as they exhibit an extreme rate of bond formation, which in turn increases the production rate. Moreover, in the U.S., hot-melt-based technology is widely used in tape manufacturing by key players such as Intertape Polymer Group Inc. (Canada), and 3M Company (U.S).

By foam type, foam tape market can be segmented into PE (polyethylene), PU (polyurethane), acrylic and others (nitrile, EVA, rubber, polyester, polyether, PVC, and vinyl). The acrylic segment holds a significant market share, owing to the rapid adoption of high-performance tapes that are engineered to deliver assembly solutions for a large variety of industrial applications. Acrylic tapes are used for metal fabrication, marine construction, and window fabrication due to their notable properties such as reflexibility, conformability, and compressibility.

By end user, market can be segmented into automotive, building & construction, electrical & electronics, paper & printing, and others (healthcare, woodworking, packaging, wind energy, solar energy, aerospace & defense, and sports). The paper & printing segment accounts for a prominent market share, owing to the extensive use of foam tapes in paper production as well as during the printing process.

Foam Tape Market: Segmentation

By Resin

  • Acrylic
  • Rubber
  • Silicone
  • Others (EVA and polyurethane)

By Technology

  • Solvent-Based
  • Water-Based
  • Hot-Melt-Based

By Type

  • PE (Polyethylene)
  • PU (Polyurethane)
  • Acrylic
  • Others (Nitrile, EVA, Rubber, Polyester, Polyether, PVC, and Vinyl)

By End User

  • Automotive
  • Building & Construction
  • Electrical & Electronics
  • Paper & Printing
  • Others (Packaging, Aerospace & Defense, Healthcare, Woodworking, Wind Energy, Solar energy, and Sports)

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • Japan
    • India
    • China
    • South Korea
    • Australia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Argentina
    • Colombia
    • Rest of Latin America
  • MEA
    • Saudi Arabia
    • South Africa
    • Kuwait
    • Rest of MEA