Reinforced Foil Tapes Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1554
Reinforced Foil Tapes Market size is thriving and is anticipated to grow at a healthy CAGR during the forecast period. Reinforced foil tapes market size is growing owing to its exceptional characteristics compared to conventional adhesive tapes in the market. The product offers extraordinary thermal conductivity, weather resistance, heat & light reflectance, moisture & chemical resistance and flame resistance. Increasing product demand among vendors owing to its exceptional properties like high tensile strength is likely to boost the reinforced foil tapes market size over the projected timeframe.
The product has wide range of applications in various end-user industries including aerospace, electronics, packaging, automotive, construction and marine industry. In aerospace, the product has extensive application in aircraft parts including masking windows, wheels and seams before paint to resist flame, moisture, dirt, weather and other adverse conditions to help protect surface. Aerospace industry is booming and is likely to grow at a CAGR of over 6% which shall positively influence the reinforced foil tapes market size by 2024.
Prevailing product use in packaging industry owing to extraordinary product characteristics such as providing moisture & chemical resistance, durability, superior conformability making it desirable by packaging industry as compared to conventional adhesive tapes. Packaging industry is escalating and is expected to grow at a CAGR of over 5% in the coming years and henceforth likely to drive the reinforced foil tapes market size over the projected timespan.
Raw material price volatility and presence of product alternatives in the market are probable to hamper the reinforced foil tapes market size in the coming years. Wide range of applications and its exclusive properties makes it desirable across various end-use industries and is likely to create plentiful opportunities for reinforced foil tapes market size by 2024.
Reinforced foil tapes market size is segmented based on applications including strapping, sealing and holding. Strapping is done when high strength and adhesion is needed across various end-user industries. Sealing is required to close joints in metal ducting and to provide insulation between internal skin & fuselage of aircraft and other applications. Product is majorly employed for sealing in aircraft, automotive, building & construction industry, etc. to provide insulation and protection to surfaces from chemical, moisture, adverse weather conditions, etc. Product enhances holding capacity of the material by providing constant high bonding force.
Based on application, reinforced foil tapes market size is divided into aerospace, automotive, electronics, marine, construction, packaging and others. In electronics industry, the product is used to coat electrical cables that provides weather resistance, heat & chemical resistance to cables exposed in the environment. Other product in electronics industry include wrapping insulation cables and other sensitive electrical appliances. Growing electronics industry and replacement of conventional adhesive tapes with product is likely to propel reinforced foil tapes market size by 2024.
In marine industry, the boats that carry cargo are usually made up of water resistant material such as aluminium. Thus, increasing use of product in marine industry is likely to stimulate the reinforced foil tapes market size over the projected timeframe. In aerospace industry, product is used to mask wheel, seams and window before paint stripping to protect against harsh chemicals. Since, the product is chemically resistant it has other applications in aerospace industry including electroplating, anodizing, etc. which is expected to effectively contribute in growing reinforced foil tapes market size during the forecast period.
North America accounts for the highest market share owing to consistently growing aerospace, electronics and automotive industry which leads to increasing product application and subsequently resulting in business growth. Europe also holds a prominent industry share due to significant manufacturing base and high product demand. Rapid industrialization in Asia Pacific primarily in India & China has led to growing construction industry which will eventually have positive influence on the reinforced foil tapes market size in the coming future.
Key global reinforced foil tapes market size contributors are 3M Company, Avery Dennison Corporation, DuPont, Brady Corporation, Alco Technologies, Inc., and Henkel Ag & Company. Other major players are Coilcraft, Inc., CGS Technologies, Inc., Dow Corning, ETS-Lindgren, Intermark USA, Inc., Leader Tech Inc, PPG Industries, Schaffner Holding AG, Zippertubing Company, Cybershield, Inc., Chomerics North America, EIS Fabrico, and Laird Technologies.
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