Global Acrylic Foam Tape Industry Was 1811.8 Million USD In 2017
Monday, 26 Nov, 2018
The Acrylic Foam Tape industry was 1811.8 million USD in 2017 and is projected to reach USD 3287.8 million USD by 2025, at a CAGR (Compounded Annual Growth Rate) of 7.73% between 2017 and 2025.
Global acrylic foam tapes market is expected to grow and gain traction during the forecast period owing to features such as huge internal strength and good flexibility reducing peeling stress. Furthermore, eco-friendly concept, shock absorption capability, and good anti-aging properties are some of the factors which are expected to fuel the global acrylic foam tapes market during the forecast period. Moreover, good anti-vibration properties, long-term holding power, excellent resistance to moistures & solvents, and excellent conformity are few other driving factors for global acrylic foam tapes market during the forecast period.
Low tack or initial bond strength of acrylic adhesive and poor adhesion to polyolefin are the factors which are expected to hamper the growth of global acrylic foam tapes market during the forecast period. Furthermore, high associated cost is one of the other major factor hindering the growth of global acrylic foam tapes market over the forecast period.
North America is estimated to dominate the global acrylic foam tapes market during the forecast period due to high penetration of healthcare and automotive industry. Furthermore, Europe market is estimated to be the second highest market owing to growing awareness among customers for better quality and more reliable products rather than going for the inexpensive ones. Asia Pacific is expected to grow at a significant CAGR during the forecast period due to growing construction, automotive, and healthcare activities across the region majorly in ASEAN countries and India. Shifting focus of automotive manufacturers to open manufacturing facilities in Mexico and Brazil are estimated to drive the acrylic foam tapes market in Latin America during the forecast period. Middle East and Africa is expected to register substantial growth over the forecast period owing to growing construction activities in GCC countries. Japan is anticipated to register relatively slower growth due to high penetration of foam tapes in the region.
The leading companies own the advantages on better performance, more abundant product’s types, better technical and impeccable after-sales service. Consequently, they take the majority of the market share of high-end market. Looking to the future years, the slow downward price trend in recent years will maintain. As competition intensifies, prices gap between different brands will go narrowing. Similarly, there will be fluctuation in gross margin.
The industry is expected to remain innovation-led, with frequent acquisitions and strategic alliances adopted as the key strategies by the players to increase their industry presence. Market stays in mature period with a clear concentration. Meanwhile, optimize product mix and further develop value-added capabilities to maximize margins. Manufacturers can take advantage of this situation by reinforcing their production units and supply-chains to avoid any delay in production turn-around-times (TAT) and supply-lead-times.
Despite the presence of competition problems, due to the global recovery trend is clear, investors are still optimistic about this area, the future will still have more new investment enter the field. Even so, the market is intensely competitive .The study group recommends the new entrants just having money but without technical advantage and upstream and downstream support do not to enter into this field.