Global Metal Foil Tapes Market Driven by Increasing Infrastructure Projects and Rising Investments in R&D
September 23, 2022
The global metal foil tapes market to reach US$ 3.9 Billion by 2027, exhibiting a growth rate (CAGR) of 5.4% during 2022-2027.
SHERIDAN, WYOMING, UNITED STATES, September 23, 2022 /EINPresswire.com/ -- According to the latest report by IMARC Group, titled, “Metal Foil Tapes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", The global metal foil tapes market size reached US$ 2.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 3.9 Billion by 2027, exhibiting a growth rate (CAGR) of 5.4% during 2022-2027.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Metal foil tapes are versatile and high tensile tapes that can adhere to elements for long periods. They comprise a metal coating and rubber conductive, acrylic, or silicone adhesives. They are manufactured from a lead coating utilized for wrapping golf club heads to add weight while electroplating. They are widely used to secure duct seams, joints, and connections while protecting the exterior of various objects from harmful chemicals and water. They are employed in laboratories to provide protection from X-rays, electromagnetic forces, and radio frequencies. Additionally, they aid in repairing electrical cables and modifying printed wiring boards due to their high electrical conductivity. They also assist in securing packages from moisture, severe temperature changes, vermin, and precipitation. Metal foil tapes withstand temperature changes without shrinking and remain functional by resisting dryness and brittleness. Besides this, they help seal leaks in heating and cooling system ducts by preventing air escape, fixing damaged insulation cables, and protecting insulation boards from moisture. Furthermore, as they are highly flexible with a smooth and shiny texture, metal foil tapes find extensive applications in the automotive, electronics, aerospace, transportation, and defense industries across the globe.
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Metal Foil Tapes Market Trends and Drivers:
At present, the increasing demand for metal foil tapes due to the rising building and construction activities around the world represents one of the key factors driving the market. Besides this, the growing utilization of metal foil tapes in the electronic industry for providing electromagnetic protection to various devices is positively influencing the market. In addition, the increasing need for protecting food and beverage products while importing and exporting due to rising temperatures worldwide is contributing to the growth of the market. Apart from this, the growing application of metal foil tapes in the automotive and transportation industry for heat sealing, sound dampening, and auto repairing is offering a favorable market outlook. Additionally, the rising transit of consumer goods on account of the increasing online shopping across the globe is propelling the growth of the market. Moreover, the wide availability of metal foil tapes through online and offline distribution channels is strengthening the growth of the market. Furthermore, key market players are extensively investing in research and development (R&D) activities to introduce enhanced metal foil tapes with ultraviolet (UV) protection. They are also focusing on mergers and acquisitions (M&A) to boost product sales, which is expected to bolster the growth of the market in the coming years.
Metal Foil Tapes Market 2022-2027 Competitive Analysis and Segmentation:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
• 3M Company
• Advance Tapes International Ltd
• CGS Technologies Inc. (Systems Integrators LLC)
• EIS Fabrico (EIS Inc.)
• Maxell Holdings Ltd.
• Jiangyin Bondtape Technology Corporation
• Marian Inc.
• MBK Enterprises Inc.
• Morgan Industries Limited
• Shurtape Technologies LLC (STM Industries Inc.)
• The Zippertubing Company.
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The report has segmented the market based on metal type, adhesive type and end user.
Breakup by Metal Type:
Breakup by Adhesive Type:
Breakup by End User:
• Automotive and Transportation
• Building and Construction
• Aerospace and Defense
Breakup by Region:
• North America
• Latin America
• Middle East and Africa
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