Performance in hot and cold temperatures is an essential feature of any tape’s performance – especially those used in demanding applications. These foil tapes are precisely fabricated with updated machinery & quality accepted adhesive materials. Hence, the demand for foil tapes is acquiring prominence.
The global foil tapes market is forecast to expand with a CAGR of 2% during the 2022 to 2032 assessment period, as per a Future Market Insights report. It is expected to grow from US$ 20 Billion in 2022 to US$ 24.4 Billion in 2032.
| Data Points | Key Statistics |
|---|---|
| Market Value in 2022 | US$ 20 Billion |
| Market Value in 2032 | US$ 24.4 Billion |
| CAGR (2022 to 2032) | 2% |
Increasing infrastructural activities all over the globe are further driving the growth and rising need for environmental protection of assemblies and surfaces from extreme chemical and temperature conditions boosting the foil tapes market growth.
Increasing demand in marine applications for the manufacturing of boats, and usage in wire coating to reduce vibration fatigue in metal, plastic panels, and support structures, are anticipated to facilitate growth in demand for foil tapes.
The major application of foil tapes is in industries, and are heavily used in appliance, aerospace, metal finishing, specialty vehicle, machinery, construction, manufacturing, and transportation markets. There are four main types of foil tapes- lead foil tapes, aluminum foil tapes, sound damping foil tapes, and butyl foil tapes.
In order to fulfill the desire of customers, many manufacturers are offering foil tapes that are accessible in numerous specifications and can also be custom designed according to the given stipulations
Some of the features of foil tapes are -
For instance, ECHOtape’s foil tapes are engineered with an aggressive, long lasting, pressure-sensitive adhesive that demonstrates superior bonding when exposed to both sub-zero and elevated temperature as well as high humidity, making them the ideal choice for both construction and in an excellent range of Foil Tape.
Foil tapes are metal-backed tapes that are mainly used in industries to withstand heavy load and enable heavy and specialized machines to work efficiently. Due to increase in adoption of automated technology, the global foil tapes market has witnessed a rise in demand, by industrialists.
In addition, foil tapes also enable efficient cooling and heating, which involves thermal conduction and heat-light reflection over the surface. The high preference for foil tapes can be attributed to their excellent resistance towards high humidity and extreme conditions, which includes exposure to UV light, high temperatures, and chemicals.
Added to that, foil tapes are highly malleable and have rugged characteristics, which makes them an ideal choice for heavy usage. Foil tapes find application in metal finishing, appliance, aerospace and automotive industries. Foil tapes are primarily used for shielding, grounding and sealing applications. Overall, the foil tapes market is anticipated to witness significant growth, over the forecast period.
Foil tapes cater to an extensive range of industries, and are heavily used in appliance, aerospace, metal finishing, specialty vehicle, machinery, construction, manufacturing and transportation markets. This is expected to be the major contributor to growth of the global foil tapes market.
The global foil tapes market is being driven by innovation in terms of adhesives used. New varieties of foil tapes with acrylic adhesives are known to increase their bond with age. The major drivers for growth of the global foil tapes market includes, easy-peel, high water resistance and total water vapour barrier.
Foil tapes are also used on seams and joints of fiberglass, which has witnessed increased usage in the consumer electronic goods market. Other features which increase preference for foil tapes over alternate solutions include less dependence on additional fasteners such as scrap metals, metal screws to seal or cover large areas, which is a prominent attribute in case of aluminium foil tapes.
Growth of applications in art and craft field is also expected to fuel growth of the global foil tapes market. Increasing demand in marine applications for manufacturing of boats, and usage in wire coating to reduce vibration fatigue in metal, plastic panel and support structures, is anticipated to facilitate growth in demand for foil tapes.
Geographically, the global foil tapes market has been segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Middle East and Africa (MEA), and Japan. The North American region is expected to lead the global foil tapes market, owing to strong presence of defence, construction, machinery, aerospace, and automotive sector.
Emerging economies such as China and India have been witnessing record growth of the industrial sector and aerospace & defence industry, over the past few years, and are anticipated to witness rapid growth of these industries in the future. This is expected to result in an increased application of foil tapes. Latin America is anticipated to follow a similar trend.
Few of the key players operating in the global foil tapes market are- 3M, Advance Tapes International Ltd, Shurtape Technologies LLC, Morgan Industries Limited, Zhenjiang Runfa Aluminium Co., Ltd., Tape India, Thomas Publishing Company, Matrix Adhesive Coating Industry, Maxal Impex, Pronat Industries Ltd.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Foil Tapes market has been segmented on the basis of backing material, product type, application, and end use. On the basis of product type, foil tapes market has been segmented in lead foil tapes, aluminium foil tapes, sound damping foil tapes, and butyl foil tapes. On the basis of application, foil tapes market can be segmented as – temperature resistant barrier, electromagnetic shielding, air tightening, and sealing.
On the basis of end use, foil tapes market can be segmented in automotive, industrial applications, building and construction, manufacturing, foil arts transportation, and logistics. On the basis of adhesive material, foil tapes market has been segmented in acrylic, silicone, and rubber foil tapes.
On the basis of substrate, foil tapes market has been segmented in aluminium foil tapes, aluminium with glass foil tapes, tin foil tapes, copper foil tapes, steel foil tapes and lead foil tapes.
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Foil Tapes Market
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