The revenue generated by the UV cured acrylic foam tapes across the globe are estimated to reach at USD 505.3 million in 2024. The market is projected to grow at a CAGR of 4.0% during the forecast period (2024 to 2034) and poised to reach USD 742.9 million in 2034. The sales generated by UV cured acrylic foam tapes in 2023 was USD 483.5 million. The market is anticipated to acquire a Y-o-Y growth of 4.5% during 2024.
Double-sided tapes are expected to capture more than 3/5th of the market in 2024. It is poised to lead the market in the entire forecast period. This is because these tapes offer strong and consistent adhesive properties irrespective of the surface. It can be easily applied to multiple surfaces including metal, glass and plastic.
These tapes offer good resistance against many external factors such as UV light, temperature, moisture and chemicals. Double-sided UV-cured acrylic foam tapes have exceptional load-bearing capacity as they distribute the stress equally over the surface which is applied to and are commonly used in industries such as automotive, electronics and construction. Also, cushioning and ease of use further increase the extent of adoption.
Global UV Cured Acrylic Foam Tapes Industry Forecast
| Attributes | Key Insights |
|---|---|
| Historical Size, 2023 | USD 483.5 million |
| Estimated Size, 2024 | USD 505.3 million |
| Projected Size, 2034 | USD 742.9 million |
| Value-based CAGR (2024 to 2034) | 4.0% |
Industrial sectors projected to adopt more than 85% of the UV cured acrylic foam tapes in 2024. Many industries such as electrical and electronics, building and construction and automotive sectors are in need for effective adhesive properties to streamline the overall process and enhance the consumer experience.
Industrial applications are in need for versatile materials that can adapt the extreme conditions such as high temperature, radiations, chemicals and loads. Since, UV cured acrylic foam tapes are engineered to offer resistance to these factors. The durability and longevity of these tapes which helps to maintain the adhesion property for a longer time. This characteristics of UV cured acrylic foam tapes remove the constraint of replacement of tapes multiple time.
Among industrial sectors, electrical and electronic sectors are expected to dominate the UV-cured acrylic foam tapes market considering market share. The thermal resistance property of UV-cured acrylic foam tapes creates diverse applications in the electronics sector. Electronic devices often generate heat by consistent or longer usage, to resist the damage of the electronic items an effective adhesive solution is necessary and UV-cured acrylic foam tapes do the job effectively.
Also, electronic devices such as smartphones, laptops and tablets are sometimes experience vibrations and exposure to constant movement. The UV-cured acrylic foam absorb these vibrations and shocks and helps to maintain the quality and integrity of the overall material. Properties such as lightweight, moisture and chemical resistance, and ease of use further increase consumer satisfaction and hence the adoption.
The UV cured acrylic foam tapes market experiencing attractive growth during the forecast period. The market is expected to generate a growth opportunity of USD 259.4 million by the end of 2034. The industry is projected to expand 1.5 times in the same period.
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The table provided below presents the poised CAGR for Global UV cured acrylic foam tapes market over several semi-annual periods spanning from 2024 to 2034. In the first half (H1) of the year from 2023 to 2033, the business is predicted to surge at a CAGR of 3.5%, followed by a slightly higher growth rate of 4.4% in the second half (H2) of the same year.
| Particular | Value CAGR |
|---|---|
| H1 | 3.5% (2023 to 2033) |
| H2 | 4.4% (2023 to 2033) |
| H1 | 3.6% (2024 to 2034) |
| H2 | 4.6% (2024 to 2034) |
Moving in the subsequent period, from H1 2024 to H2 2034, the CAGR is projected to increase slightly to 3.6% and the same can be observed at 4.5% in the second half. In the first half (H1), the market witness an incline of 10 BPS while in the second half (H2) the market expected to witness an increase of 20 BPS
Growing Automotive Industry is in Need for Consistent and Effective Adhesive Tapes
The automotive industry is facing a burgeoning growth. This is due to boosting urbanization, advancement in technology and the growth in government incentives to enhance quality in transportation. The current growth in the automotive industry has a positive impact on the UV-cured acrylic foam tapes market.
These tapes offer durable and strong bonds which help to withstand the adhesive bond intact in harsh environments especially useful in the automotive sector. These tapes help to maintain the integrity of the automotive components such as trims and emblems. This will maintain the integrity long time.
The weight of the vehicle is a crucial factor considering the performance of the same. Today, prominent manufacturers trying to reduce the weight of the vehicle to increase the performance. Manufacturers in the automotive sectors are in continuous material science studies to reduce the weight of the components without compromising the quality of the material. UV-cured acrylic foam tapes are the ideal solution to bond lightweight materials.
Manufacturers can adopt these tapes to achieve strength and durability in the overall solutions. It is expected that in the future the automotive industry will expand rapidly and hence the market of UV-cured acrylic foam tapes market.
Construction and Infrastructure Development Sectors Adopting UV Cured Acrylic Foam Tapes Due to Convenience and Efficacy
Construction and infrastructure development sectors are adopting UV-cured acrylic foam tapes due to their convenience and efficacy in adhesive performance. These tapes offer strong and longer consistent adhesion to diverse materials including glass and metals.
Mounting panels and glass construction settings are using these tapes consistently. These materials offer adhesion that does not hamper the structural integrity of the material or the surface to which applied and this will make them a prominent choice for modern building construction and infrastructure settings. Also, their resistance to many external factors such as moisture, UV rays, temperature and other environmental factors further increases the adoption.
Emerging nations such as Asia Pacific and MEA experiencing considerable advancement in infrastructure developments. The UV-cured acrylic foam tapes are expected to experience heightened adoption in the forecast period in these regions. Regions such as India and GCC countries investing in the infrastructure sector and manufacturers can implement UV-cured acrylic foam tapes in this region to capture the market and obtain novel opportunities. Considering factors such as cost efficiency and quality is an important factor in acquiring consumer satisfaction in Asia Pacific.
Competition from the Alternate Materials Hamper the UV Cured Acrylic Foam Tapes Market
UV-cured acrylic foam tapes are experiencing competition from alternate materials and are expected to hamper the market. Silicon-based adhesives which offer properties such as flexibility and temperature adaptability make a prominent alternate choice in the market. Considering performance characteristics, silicon-based adhesives offer properties more than UV-cured acrylic foam tapes which in turn hamper the market, especially in the automotive and aerospace setting.
Epoxy-based coatings offer considerable mechanical strength and chemical strength, this property of these adhesives makes them a key choice in the construction and marine settings. Polyurethane adhesives offer exceptional adhesion properties to many plastic surfaces that sometimes fail to achieve UV-cured acrylic foam tapes. Manufacturers of UV-cured acrylic foam tapes should consider enhancing the adhesion, mechanical and chemical properties of the tape to stabilize the competitive market. Offering research and development can help to overcome the restraints.
Principal Consultant
The global market of UV cured acrylic foam tapes has recorded a CAGR of 2.8% during the historical period ie, 2019 to 2023. The market recorded a value of USD 433.3 million in 2019 and has positively reached USD 483.5 million in 2023.
The UV-cured acrylic foam tapes are efficient tapes that are obtained from acrylic foam treated with UV radiation. These tapes have strong adhesion character and have capacity to offer bonds with diverse materials. Also, they offer resistance against various environmental factors such as radiation, temperature constrain, chemicals and moisture. UV-cured acrylic foam tapes are used in multiple industries such as electronics, automotive, and construction.
Regions such as East Asia, South Asia Pacific, and North America will lead the UV-cured acrylic foam tapes market in the forecast period. Asia Pacific region including East Asia and South Asia Pacific experiencing heightened adoption due to the rise in economic and infrastructure development in these regions.
These regions will lead the market in terms of the growth rate as well. North America and Europe experiencing moderate growth due to a matured market and recent political constraints. Manufacturers in these regions are reducing their investment costs and focusing on cost efficiency and expansion. MEA region experiencing considerable growth, especially in GCC countries. These countries largely investing infrastructure development to enhance the tourism and economy.
The UV-cured acrylic foam tapes market is expected to grow at a rate of 4.0% in the forecasted period. Considering product type, double-sided tapes are expected to be the dominating segment during the forecast period considering market share. The same is expected to grow at a CAGR of 3.8% during the forecast period. Considering end use, industrial sectors are expected to dominate the market during the forecast period considering market share. The same is expected to grow at a CAGR of 3.9% during the forecast period.
The market is expected to open novel opportunities in emerging nations. Countries such as India and China experiencing attractive growth in the current and future settings. China’s emphasis on economic and political advancement propels the adoption of UV-cured acrylic foam tapes in the forecast period.
The major automotive market presence here further amplifies the adoption. In India, a growing focus on infrastructure developments and government initiatives to enhance multiple startups propel the advancement in the automotive and construction industry. This trend will in turn impact the UV-cured acrylic foam tapes market positively. Manufacturers can strategically focus on this region to capture the market in these regions.
Tier 1 companies encompasses the market leaders with market revenue exceeding USD 12 million acquiring a cumulative market share of 10-15% of the global market. These market players are characterized by their high production capacity and strict focus on the development of innovative and efficient UV-cured acrylic foam tapes.
Furthermore, these market leaders are known by their prominent competence in manufacturing across multiple UV-cured acrylic foam tapes, wider distribution network across multiple regions and countries with a strong consumer presence. These manufacturers continuously involved in the investment in development of novel UV-cured acrylic foam tapes and continuously updating UV-cured acrylic foam tapes with latest industrial standards. Prominent companies within Tier 1 include Avery Dennison Corporation, 3M Company, Tesa SE, H.B. Fuller and others.
Tier 2 companies include mid-sized players with revenue of USD 5 to 12 million having a strong foothold in specific region and also have selected international presence. These manufacturers offer UV-cured acrylic foam tapes for multiple end use but may not be used in specialized application.
These players lack diversity in product portfolio and advanced technology offering. Considering Tier 1 companies, Tier 2 companies will have lower global reach and lesser investment in the research and development for the development of novel products. Prominent players in Tier 2 includes Nitto Denko Corporation, Saint Gobain, Eurobond Adhesives Limited, Henkel AG & Company KGaA and others.
Tier 3 includes the small-scale companies or startups operating at the local presence and serving niche markets having revenue below USD 5 million. These manufacturers mainly focused on fulfilling local market demands and hence are characterized by Tier 3 companies. They are small scale players and have limited geographical reach. Tier 3, is recognized as an unorganized market, denoting a sector characterized by a lack of extensive structure and formalization when compared to organized competitors.
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The contents below cover the industry analysis for the UV-cured acrylic foam tapes market for multiple countries. Market demand analysis on key countries in multiple regions of the globe including North America, East Asia, South Asia, Europe and others are provided.
The United States is anticipated to be the leader in the North American UV-cured acrylic foam tapes industry and expected to grow with a CAGR of 2.6% during the forecast period. In Europe, Germany anticipated to lead the market in terms of market share expected to grow with a CAGR of 2.2% during the forecast period.
| Countries | Value CAGR (2024 to 2034) |
|---|---|
| USA | 2.6% |
| Germany | 2.2% |
| China | 5.1% |
| UK | 2.9% |
| India | 5.6% |
| Japan | 3.5% |
| GCC Countries | 4.1% |
| Brazil | 3.5% |
The UV-cured acrylic foam tapes market in India expected to generate USD 40.5 million growth opportunity during the forecast period. The country is expected to capture 42% of the South Asian market in 2024.
India Brand Equity Foundation has stated that the sales of India’s passenger cars in 2021 was USD 32.7 billion and is expected to reach USD 54.8 billion in 2027. It is also stated that the market will grow at a CAGR of over 9.0% in this period. The automobile market in India is expanding rapidly in the forecast period and a larger number of automotive manufacturers investing in the India market considering the current trending growth.
The rise in economic advancement in India led to an increase in the disposable income of middle-class families. Government initiatives and policies about financial growth have led to the widest adoption of vehicles. The same trend is expected to be observed in the future. The manufacturers of UV-cured acrylic foam tapes can strategically invest in the Indian market to the early adoption of the prominent market share in India.
The GCC countries market for UV-cured acrylic foam tapes market is expected to generate a revenue of USD 13.2 million by 2024. These countries expected to capture 38.5% of the overall MEA market in 2034.
Global Infrastructure Hub reported that GCC countries especially the UAE expected substantial growth considering the investment in infrastructure development. The Ministry of Infrastructure Development in the UAE stated that the country is implementing 129 novel infrastructure developments in the upcoming years.
The country has invested 45% of the infrastructure budget in the social sector which is the largest sector in terms of market share. The UV-cured acrylic foam tape manufacturers can strategically focus on the advancement in the development of novel UV-cured acrylic foam tapes considering demand in this region and geographical and environmental constraints.
The UV-cured acrylic tapes market in china expected to capture USD 56.1 million during the forecast period and expected to capture 52.9% share of the overall East Asia market.
UN trade and Development has stated that China is the largest maker of electronic components and in terms of exporting ICT components, China is the current leader among global players. Considering importers, the USA is the leader in the current market. China is known for manufacturing electronic components at cheap prices.
The financial advantage of Chinese products attracts cost-conscious consumers. Manufacturers of UV-cured acrylic tapes can strategically focus on the innovation and technological advancement in the China UV-cured acrylic tapes market and offer cutting-edge solutions and customization to the ever-changing market landscape.
The section contains information about the leading segment in the UV-cured acrylic foam tapes market. Double sided tapes expected to grow 3.8% during the forecast period. UV-cured acrylic foam tapes for industrial application expected to grow at a rate of 3.9%.
| Product Type | Double Sided Tape |
|---|---|
| Value Share (2034) | 63.3% |
Double sided tapes among other type of UV-cured acrylic foam tapes expected to dominates the market during the forecast period. The double sided tapes poised to grow at a CAGR of 3.8% during the forecast period. Double-sided tapes are expected to dominate the UV-cured acrylic foam tapes market due to their high-performance characteristics, durability, convenience and industrial applications.
This tape is widely adopted in industries such as the automotive, electronics and construction sectors as these industries require strong and durable solutions to withstand extreme environmental situations. Also, they are consistent in the adhesion characteristics and have multiple advantages. Their aesthetic and functional design further increase the adoption in the market. Manufacturers can strategically adopt these tapes to acquire market share and substantial growth.
Self-stick UV-cured acrylic foam tapes are expected to grow 4.7% during the forecast period. These tapes can easily bond with multiple materials which streamline the manufacturer's overall process of manufacturing especially automotive, industrial and construction sectors. The automotive sector is expected to widely adopt these tapes in the forecast period.
| End Use | Industrial |
|---|---|
| Value CAGR (2034) | 3.9% |
Industrial sectors are expected to capture a prominent share of the UV-cured acrylic foam tapes market in the forecast period. This is because the rise in industrial sectors such as automotive, construction and electronics led to the adoption of tapes that withstand the extreme environment in the manufacturing sectors.
These machines have an exceptional ability to prevent damage to the product from diverse conditions such as temperature, heat, UV radiation and chemical settings. Manufacturers of UV-cured acrylic foam tapes can improve the efficiency and quality of UV-cured acrylic foam tapes to acquire consumer satisfaction. Involving continues research and development to enhance material innovation and further amplify the market.
The packaging sector is expected to adopt UV-cured acrylic foam tapes with a growth rate of 4.7% during the forecast period. It is expected that during the forecast period, these tapes are expected to offer convenience and strength in the packaging sector. Manufacturers can focus on adherence to the regulatory framework of the packaging sector and offer sustainability in the overall product offering.
Key players of the UV-cured acrylic foam tapes market are manufacturing and launching novel products in the market. They are collaborating with multiple end user firms to expand their geographical reach.
Key Developments in UV-Cured Acrylic Foam Tapes Industry
In terms of product type, the industry is divided into Double Sided Tape, Single Sided Tape, Self-Stick Tape UV-Cured Acrylic Foam Tapes.
In terms of End Use, the industry is divided into Industrial (Automotive, Building and Construction, Electrical and Electronics, Medical Devices and Others (Defense, Aerospace, etc) and Packaging.
In terms of region, the industry is divided into North America, Latin America, Europe, South Asia, East Asia, Oceania and MEA.
The UV-Cured Acrylic Foam Tapes industry is projected to witness CAGR of 4.0% between 2024 and 2034.
The global tray seal machines industry stood at USD 483.5 million in 2023.
Global UV-Cured Acrylic Foam Tapes industry is anticipated to reach USD 742.9 million by 2034 end.
South Asia is set to record a CAGR of 5.1% in assessment period.
The key players operating in the UV-Cured Acrylic Foam Tapes industry are 3M Company, Tesa SE, Avery Dennison Corporation, Scapa Group plc, H.B. Fuller Company, Henkel AG & Company KGaA, Nitto Denko Corporation and others.
1. Executive Summary
2. Industry Introduction
2.1. Market Taxonomy
2.2. Market Definition
3. Market Trends and Success Factors
4. Market Background
4.1. Macro-economic and Industry Outlook
4.2. Market Dynamics
4.3. Value Chain Analysis
4.4. List of Key Market Participants (Manufacturers/Channel Partners)
4.5. Analysis of Key Industry Matrices
4.6. Industry Development Roadmap
5. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034
5.1. Historical Market Volume Analysis
5.2. Future Market Volume Projections
6. Pricing Analysis
7. Global Market Value (USD) Analysis 2019 to 2023 and Forecast 2024 to 2034
7.1. Historical Sales Analysis
7.2. Future Market Size and Growth Projections
8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, Product Type
8.1. Double Sided Tape
8.2. Single Sided Tape
8.3. Self-Stick Tape
9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by End Use
9.1. Industrial
9.1.1. Automotive
9.1.2. Building & Construction
9.1.3. Electrical & Electronics
9.1.4. Medical Devices
9.1.5. Others (Defence, Aerospace, etc.)
9.2. Packaging
10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Region
10.1. North America
10.2. Latin America
10.3. Europe
10.4. East Asia
10.5. South Asia
10.6. Oceania
10.7. Middle East and Africa (MEA)
11. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments
12. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments
13. Segments
14. Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments
15. South Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments
16. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments
17. Oceania Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments
18. Middle East and Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments
19. Sales Analysis 2024 & 2034 by Key Market Segments for Key Countries
20. Competition Outlook including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
21. Company Profile
21.1. 3M Company
21.2. Tesa SE
21.3. Avery Dennison Corporation
21.4. Scapa Group plc
21.5. H.B. Fuller Company
21.6. Henkel AG & Company KGaA
21.7. Nitto Denko Corporation
21.8. Toyochem Co. Ltd.
21.9. Saint-Gobain Tape Solutions
21.10. Eurobond Adhesives Limied
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UV Cured Acrylic Foam Tapes Market
