Double coated foam tapes are designed to stick two surfaces together. These tapes can stick to uneven surfaces and are majorly used in the building & construction industry where high strength adhesion is required.
Double coated foam tapes possess the ability to handle a high thermal stress and movement stress. These tapes are also good at resisting UV, sound, vibration, and shock.
These tapes are used in high temperature and sound & vibration dampening applications. They are used for general bonding and mounting of signs, mirrors, moldings, extrusions, etc.
Key Drivers of Global Double Coated Foam Tapes Market
Beneficial properties of double coated foam tapes such as vibration & sound dampening, noise reduction, and mounting are driving the global market
Rise in demand for double coated foam tapes in various end-use industries such as electrical & electronics, building & construction, and automotive is expected to drive the double coated foam tapes market
Increase in environmental concerns and rise in number of regulatory policies have compelled double coated foam tape manufacturers to focus on the development of eco-friendly products. However, volatility in prices of raw materials is hampering the double coated foam tapes market.
Rise in costs of types of foams such as acrylic and PE across the globe is adversely affecting the double coated foam tapes market. Most of the raw materials used in the development of double coated foam tapes are petroleum-based derivatives that are vulnerable to fluctuations in commodity prices.
Automotive End-use Industry Segment to Expand at Significant Pace
In terms of volume, Automotive is expected to be the leading end-use industry segment of the double coated foam tapes market during the forecast period. Double coated foam tapes are used in plate panels, roof molding, outer belt moldings, rocker panel/claddings, emblem & nameplates, rear spoilers, body & bumper side moldings, side mirrors, and side fenders/wheel flares in the automotive industry.
Polyethylene Foam Type Segment to Expand at Rapid Pace
PE-backed foam tapes offer properties such as sound and vibration reduction and shock absorption. Demand for these tapes is rising due to increase in usage of these tapes in a wide range of applications in automotive and building & construction industries, which are expanding rapidly in Asia Pacific, owing to increase in private and public investments, growth in population, and rise in focus on the renewable energy sector.
Covid-19 Impact on Double Coated Foam Tapes Market
The global COVID-19 pandemic has led to a sudden pause in manufacturing activities across the globe, thereby hampering the demand for foams and also production & processing of foams and plastic-based products. The most critically impacted end-use segments of foam products include automotive & transportation, consumer goods, industrial equipment, construction, and electronics.
Suspension of automotive production across all the major economies due to the pandemic is expected to hinder the double coated foam tapes market in the near future
Asia Pacific to Hold Significant Share of Global Double Coated Foam Tapes Market
In terms of region, the global double coated foam tapes market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Asia Pacific is projected to lead the double coated foam tapes market during the forecast period. Economic growth in emerging countries such as China, India, Taiwan, Indonesia, Vietnam, and Malaysia is expected to drive the demand for double coated foam tapes in the region.
China is anticipated to dominate the double coated foam tapes market in Asia Pacific. Increase in automotive production, availability of cheap labor and raw materials, low taxes, and less stringent environmental regulations are driving the market in the country.
Growth in building & construction and automotive markets in countries of North America and Europe is projected to augment the demand for double coated foam tapes in these regions during the forecast period
Key Players Operating in Global Market
Manufacturers of double coated foam tapes are focusing on enhancing the performance of these tapes that are commonly used in automotive and building & construction industries. Key players operating in the global double coated foam tapes market include:
Intertape Polymer Group Inc.
tesa SE Group
Berry Global Group, Inc.
Scapa Group plc.
Shanghai Yongguan Adhesive Products Corp., Ltd.
Saint-Gobain Performance Plastics Corporation
Nitto Denko Corp
Adhere Industrial Tapes
Avery Dennison Corporation
Global Double Coated Foam Tapes Market: Research Scope
Global Double Coated Foam Tapes Market, by Foam Type
Polyurethane Resins (PUR)
Polyvinyl Chloride (PVC)
Others (PET, PP, etc.)
Global Double Coated Foam Tapes Market, by Adhesive Type
Global Double Coated Foam Tapes Market, by End-use Industry
Building & Construction
Electrical & Electronics
Paper & Printing
Others (Packaging, Aerospace & Defense, Health Care, etc.)
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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aartimule Joined: April 16th, 2020 Articles Posted: 1,188