Metal foil tapes offer advantages such as superior resistance to moisture, flame, UV radiations, weather, and dirt. Therefore, their demand is likely to remain high in coming years in several end-user industries to protect surfaces and assemblies from hot and cold environmental conditions. These tapes are extensively used in efficient heating and cooling jobs involving light and heat reflective and thermally conductive surfaces.
Excellent Performance in Extreme Environment Conditions
Some of the key end-user industries are automotive and transportation, building and construction, electronics, defense and aerospace, and consumer good and appliances. The building and construction sector is the leading consumer of metal foil tapes. Heightened usage of heating, ventilation, and air conditioning (HVAC) systems is anticipated to stir adoption of these tapes in the sector. The automotive and transportation sector is likely to emerge as a key consumer by 2025.
Metal foil tapes are used for heat sealing, sound dampening, and auto repair needs. Manufacturers are tapping into the potential of the segment and therefore, focusing on research and development activities to manufacture advanced and cost-efficient products that help them in increasing their visibility. For instance, 3M company offers 3M™ Damping Foil 2552, which damps vibration and noise with as little as 10% surface coverage. The foil tape converts vibrational energy to negligible heat that readily dissipates.
According to a report by Grand View Research, Inc.; the global metal foil tapes market is poised to expand at a CAGR of 6.3% over the forecast period (between 2017 and 2025). Rapid expansion in the building and construction sector can provide a fillip to the market. Developing regions are witnessing a boom in the construction industry due to growing population. Uptake of metal foil tapes in the industry in developed regions is being driven by rising focus on developing infrastructure and repairing existing capital assets.
Besides this, flourishing growth of other end-user industries such as automotive and transportation, electronics and consumer goods, and military is expected to drive the market. Metal foil tapes are widely used in HVAC systems and therefore, widening scope of applications of these systems can augur well for the market.
North America will be a major revenue contributor in the global arena throughout the forecast period, thanks to increasing investments in commercial construction and infrastructural projects. Some of the key companies operating in the market are 3M Company; Nova Films & Foils, Inc.; Scapa Group Plc; Hitachi Maxell, Ltd., and Nitto Denko Corporation.