Dubai, United Arab Emirates, Dec. 15, 2022 (GLOBE NEWSWIRE) — According to Future Market Insights, the global UV cured acrylic foam tapes market is anticipated to grow from US$ 462.0 Mn in 2022 to US$ 690.1 Mn by 2032. Overall demand for UV cured acrylic foam tapes is likely to grow at a CAGR of 4.1% between 2022 and 2032.
Growing applications across diverse industries, especially electrical & electronics and building & construction, is a key factor pushing demand for UV cured acrylic foam tapes in the market. Similarly, rising consumer preference for UV cured acrylic foam tapes over other tape types due to their high adhesion strength and durability will boost sales during the forecast period.
UV cured acrylic foam tapes are double-sided tapes or single-sided tapes that are being increasingly used for bonding and sealing applications across various industries. These tapes do not require any surface preparation as they have quick access for adhesion.
UV cured acrylic foam tapes are known for their high adhesion strength and are used for various applications. They possess remarkable adhesion strength that is required for shelving panels and other types of furniture.
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The UV cured acrylic foam tapes are solid, and the manufacturing process of these tapes is easy as there is no use of solvent during manufacturing. This results in a better impact on the environment as the solvent preparation releases toxins and harmful gasses. Thus, as there is no solvent preparation during the manufacturing process these tapes add to the sustainability goal.
UV cured acrylic foam tapes have a broad application as they are temperature resistant and can sustain in harsh environment temperature and bears the property of expansion & contraction without any material loss. Also, these tapes are not only used for plastic materials but in various metals such as steel and copper. Due to high demand in different industries, UV cured acrylic foam tapes demand is expected to increase at a steady pace during the forthcoming decade.
Key Takeaways from UV Cured Acrylic Foam Tapes Market
- By product type, the double sided tape segment is projected to hold around 65% of the market value share by the end of 2022.
- The self-stick tape segment is anticipated to expand 1.7 times the current market value during 2022-2032.
- By end use, the electrical & electronics and building & construction sub-segment are expected to collectively create a growth opportunity of US$ 110.8 Mn during the forecast period.
- North America and Europe collectively account for the largest share of the global UV cured acrylic foam tapes market and the trend is expected to continue through 2032.
- India’s UV cured acrylic foam tapes market is projected to grow at a CAGR of 6.2% during the forecast period.
- Germany’s UV cured acrylic foam tapes industry is projected to create an incremental opportunity of US$ 5.5 Mn during the forecast period
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“UV cured acrylic foam tapes are gaining immense popularity globally due to their superior properties compared to other types of tapes and their wide application in various end–use industries. Also increased investments in the automotive and construction industries across developing and developed regions will create a growth opportunity for the global UV cured acrylic tapes market over the next ten years,” – says a lead FMI analyst.
“High Strength and Durability of UV Cured Acrylic Foam Tapes Fuelling Their Adoption”
The UV cured acrylic foam tapes are having more durability as they are temperature resistant and ideal for harsh environments. The ability of UV cured acrylic foam tapes to adhere to any surface is a boon for the electronics industry across the globe. The electronics industry relies on UV cured acrylic foam tapes to deliver a lightweight yet durable permanent bond.
Thus, growing demand for electronic products coupled with increasing usage of UV cured acrylic foam tapes across electrical & electronics industry will boost the global market during the forecast period.
Who is Winning?
Key players operating in the UV cured acrylic foam tapes market include Nitto Denko Corporation, Tesa SE, 3M Company, Avery Dennison Corporation, Scapa Group plc, Saint-Gobain S.A., and H.B. Fuller. Some of the other noticeable player in the market are Henkel AG & Company KGaA, Toyochem Co. Ltd., Daest Coating India Pvt Ltd., VIKING Industrial, and others.
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UV Cured Acrylic Foam Tapes Industry by Category
By Product Type:
- Double Sided Tape
- Single Sided Tape
- Self-Stick Tape
By End Use:
- Industrial
- Automotive
- Building & Construction
- Electrical & Electronics
- Medical Devices
- Others (Defence, Aerospace, etc.)
- Packaging
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Market Analysis
1.3. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product innovation & Diversification
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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