Global Foam Tape Market Size to grow USD 15.67 Billion by 2030 | CAGR of 6.9%

Global Foam Tape Market worth $15.67 billion by 2030

According to a research report published by Spherical Insights & Consulting, the Global Foam Tape Market Size to grow from USD 8.6 billion in 2021 to USD 15.67 billion by 2030 at a Compound Annual Growth Rate (CAGR) of 6.9% during the forecast period. The wood adhesives market has grown due to the increasing construction demands and increased demands of furniture and housing components manufacturing. There are advancements in new technologies to help ease the wood adhesives experience of people, which is expected to provide growth opportunities for the market during the forecast period.

Browse key industry insights spread across 208 pages with 129 market data tables and figures & charts from the report “Global Foam Tape Market Size, Share, and COVID-19 Impact Analysis, By Type (Single-Sided Foam Tapes and Double-Sided Foam Tapes) By Type of Adhesives (Silicone, EVA, Acrylic, Rubber and Others) By Foam Type (Polyester Backed, PU Backed, Acrylic Backed, PE Backed and Others) By End User (Automotive, Industrial, Paper and Printing, Construction, Electrical and Electronics and Others) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa) Analysis and Forecast 2021 – 2030.“ in detail along with the table of contents. https://www.sphericalinsights.com/reports/foam-tape-market

View a detailed Table of Content here–

On credit portfolios, the COVID-19 epidemic has had a negative effect. The enormous growth has hampered the solvency of customers and businesses in unemployment and interruption of economic activity. Central banks have adopted a proactive strategy of injecting money into the market by decreasing interest rates and implementing asset purchase programmes. With persistent geopolitical tensions, global trade battles, and sporadic hurricanes and earthquakes, managing and monitoring credit, market, liquidity, and operational risk across financial markets was challenging enough. Chief risk officers and their teams have had to reevaluate outdated methods and assumptions used to manage and monitor risk due to the present pandemic crisis. The global repercussions of COVID-19 have demonstrated the significance of interconnection in international cooperation. As a result, many governments have been hurrying to find, assess, and buy trustworthy AI-powered solutions.

The double-sided foam tapes segment account for the largest market size during the forecast period

Based on the type, the foam tape market is categorized into single-sided and double-sided. The double-sided foam tapes segment accounts for the largest market size during the forecast period. The demand for double-sided foam tapes is increasing because it exhibits outstanding dampening properties, good adhesive properties, high strength etc. which accounts for a large share in the growth of the foam tape market.

The acrylic segment to hold a higher CAGR during the forecast period

Based on the technology, the foam tape market is categorized into silicone, EVA, acrylic, rubber and others. The acrylic segment is to hold a higher CAGR during the forecast period. The excellent properties of acrylic adhesives such as resistance against solvents and moisture, high internal strength, anti-ageing properties, and shock absorption capacity, boost the demand for acrylic adhesives during the forecast period.

The PE-backed segment to hold a higher CAGR during the forecast period

Based on the foam type, the foam tape market is categorized into polyester-backed, PU-backed, acrylic-backed, PE-backed and others. The PE-backed segment to hold a higher CAGR during the forecast period. There is a wide range of applications for PE foam tape in rapidly growing industries, including the automobile industry, as well as the building and construction industry that propels the growth of the foam tape market.

The automotive segment to hold a higher CAGR during the forecast period.

Based on the end user, the foam tape market is categorized into automotive, industrial, paper and printing, construction, electrical and electronics and others. The automotive segment to hold a higher CAGR during the forecast period. The rising demand for foam tape in various applications of the automotive segment, such as in the manufacturing of wheel flares, side mirrors, roof moulding etc., accounts for a major share in the growth of the foam tape market.

Asia Pacific to hold a higher CAGR during the forecast period.

The Global Foam Tape Market has been segmented into five major regions:  North America, Europe, Asia-Pacific, South America, The Middle East and Africa. Asia Pacific is estimated to account for the highest market share in 2022.  Asia Pacific is expected to be the largest market. Rising demand from the automotive and construction sectors for various applications propels the growth of the foam tape market in the region.

Major vendors in the Global Foam Tape Market include Tesa Se, Nitto Denko Corporation, 3M Company, HALCO, GPI Corporation, AFT Company, LINTEC Corporation, Ajit Industries, CCT Tapes, Saint-Gobain Performance Plastics, Tape-Rite Co. Inc., A-Spe, Avery Dennison, Intertape Polymer Group, Seal King Ind Co. Ltd., 3F, Fuji Chemical Industries Co. Ltd., Rolltape, ECHO tape, and American Biltrite.

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