Foil Tapes Market to witness steady growth by 2024

Foil tapes are primarily the metal-backed tapes which are used in various industries in order to resist the heavy load and enable the functioning of the heavy and specialized machines efficiently. The foil tapes are preferred owing to its excellent resistance to extreme humidity and other conditions such as exposure to high temperatures, UV light, and chemicals.

According to Scientific American, an aluminum foil can be used to make a boat that will carry cargo. This is owing to its resistance to moisture; the foil tape is the ideal product for the marine industry.

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The global market for the foil tapes is fragmented into its product type, adhesive material, end-use type, substrate, and application. Based on the product type, the global market is segregated into aluminum foil tapes, and butyl foil tapes, lead foil tapes, and sound damping foil tapes. Based on the adhesive material, the market is categorized into silicone, acrylic, and rubber foil tapes. Based on the end-use type, the market is divided into automotive, building and construction, foil arts transportation, industrial applications, manufacturing, and logistics. Based on the substrate, the market is bifurcated into aluminum with glass foil tapes, copper foil tapes, lead foil tapes, aluminum foil tapes, tin foil tapes, and steel foil tapes. Based on the application, the market is segmented into electromagnetic shielding, sealing, temperature resistant barrier, and air tightening.

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The other benefits of the foil tapes that are helpful include easy-peel, total water vapor barrier, and high water resistance which increases the demand of the foil tapes. Foil tapes are used on the joints and seams of the fiberglass, which is being used increasingly in the market for consumer electronic products. Growing demand in the marine applications such as its usage in the wire coating in order to minimize the vibration fatigue in plastic panel, metal, and support structures and in the manufacturing of boats increases the demand for the foil tapes.

North America dominates the foil tapes market which is due to the factors such as rise in the development of the different sectors such as construction, aerospace, defense, machinery, and automotive sector. Asia Pacific region is also experiencing a positive market growth. The developing nations such as India and China have witnessed a rapid growth in the verticals such as industrial, aerospace and defense in the past years thus, in turn, increasing the demand for the foil tapes in the global market.

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The key market players that are involved in the foil tapes market include Advance Tapes International Ltd., Morgan Industries Limited, Tape India, Matrix Adhesive Coating Industry, Pronat Industries Ltd., 3M, Shurtape Technologies LLC, Zhenjiang Runfa Aluminium Co., Ltd., Thomas Publishing Company, and Maxal Impex.