Metal foil tapes market size is forecast to reach US$4.2 million by 2027 after growing at a CAGR of 6.0% during the forecast period 2022-2027. Metal foil tapes use a specially engineered metal foil backing which contributes to the tape’s malleable, conductive, and rugged characteristics. Foil tape carriers include aluminum foil, copper, lead, and stainless steel. Metal foil tapes are available with rubber, silicone or acrylic adhesive on one or both sides in any combination. Depending on the chemistry and construction makeup, foil tapes are used for sealing based on their electrical and thermal insulation properties. They are used across industries such as aerospace, building and construction, electronics, and metal finishing among many others. Aluminum foil tapes are ideal for joining, thermal insulation, and sealing ducts and pipes. Copper foil tape is used for EMI/RFI shielding in electronics. Lead foil tape is used for acid-resistant masking during electroplating and anodizing. Stainless steel tape is used where extreme corrosion or chemical resistance is required. The rising focus on maintenance and repair in the construction industry is driving the growth of the metal foil tapes market.
COVID-19 Impact
The COVID-19 pandemic had a severe impact on industries such as building and construction, aerospace, and automotive. The aerospace industry was one of the very first sectors that were affected by the pandemic. As cases surged, world governments struggled to stop the spread of infection and introduced border closures, travel restrictions as a result of which flights were grounded. To date, in certain countries like India, international flights remain suspended. The aerospace industry has been among the worst hit by the pandemic, with many airlines forced to suspend operations which also led to layoffs. The International Air Transport Association (IATA), Airport Council International (ACI), and International Civil Aviation Organization (ICAO) predict that the sector will take at least 3-4 years to roll back to pre-pandemic levels. It was expected that with the vaccine rollout, 2021 would be a recovery year but with new variants such as delta and omicron being discovered, the aerospace industry is back to square one with flight cancellations. For instance, owing to a spike in the cases of Omicron variant of coronavirus, nearly 3,000 international flights have been canceled and more than 12,000 have been delayed globally on 27 December 2021, according to the tracking website Flightradar24. Such uncertainty has in turn affected the metal foil tapes industry.
Metal Foil Tapes Market Segment Analysis – By Metal
The aluminum foil segment held the largest share of more than 30% in the Metal Foil Tapes Market in 2021. Aluminum foil tapes have excellent conformability and easy tear. They are water-resistant and offer a total vapor barrier making them ideal for building and HVAC applications. Designed to incorporate a high-temperature acrylic adhesive, the aluminum tapes are designed to cover all key application areas where high-temperature resistance and electrical or thermal conductivity are required. Aluminum foil tapes are versatile and can be used for various applications such as insulation, protection, sealing and jointing. Aluminum foil tapes offer a number of performance benefits including resistance to fire, moisture, and chemicals. Some of the features of aluminum tapes include easy to tear, offer excellent water resistance, good performance at high and low temperatures, easy workability in the colder months, blends easily with HVAC ducts because of its silver color, high strength, and durability, among others. Energy Star reported that related findings show that 20 to 30% of the air moving through a duct system is lost because of holes, leaks, and gaps in duct connections. This can be resolved using aluminum foil tape on the ducts. Based on all its merits, aluminum foil tapes are set to dominate the metal foil tapes market during the forecast period.
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Metal Foil Tapes Market Segment Analysis – By End Use Industry
The building and construction segment held the largest share in the metal foil tapes market of over 40% in 2021. Metal foil tapes can operate at both, sub-zero and high, temperatures and offer excellent reflective and flame retardant properties making them ideal to be used in construction. Their foil carriers offer UV protection and are typically temperature resistant as well. When it comes to building and construction, aluminum foil tape is the most widely used foil tape. In construction, tapes are often used in concealed areas (like house wraps or foil-faced insulation) which means they cannot be easily replaced. The United Nations Department of Economic and Social Affairs has published Sustainable Development Goals (SDGs) to help address global challenges such as hunger, poverty, and climate change. The construction industry is a key player in achieving the UN’s SDGs. The UN projects that 60% of the population will be living in cities by 2030, which in turn boosts the construction industry and thereby boosts the metal foil tapes market. Due to its acrylic adhesive technology, aluminum foil tape offers better cohesion, adhesion, and thermal insulation. This makes it perfect for HVAC applications. HVAC tape is typically an aluminum foil tape in construction with an acrylic adhesive, that is meant to create air-tight seals in ductwork and ventilation systems. This tape incorporates temperature resistance and a flexible bond. According to the U.S. Environmental Protection Agency, in typical houses, about 20% of the air that moves through the duct system is lost due to leaks, holes, and poorly connected ducts resulting in higher utility bills. Insulating ducts with insulation can help with this issue, and ensure that the insulation is sealed well with foil tape. Hence, the building and construction sector is set to dominate the metal foil tapes market.
Metal Foil Tapes Market Segment Analysis – By Geography
The Asia Pacific region held the largest share in the metal foil tapes market in 2021 up to 45%, owing to the numerous construction activities in the region. The economies of Japan, India, China, and Malaysia are witnessing rapid industrialization and urbanization which is spurring construction activities. China is the largest construction market in the world. China recently launched the New Infrastructure plan to offset the economic impact of the COVID-19 pandemic and boost sustainable growth. New Infrastructure projects will focus on the construction of 5G networks, industrial internet, inter-city transportation, and inner-city rail systems, data centers, artificial intelligence, ultra-high voltage, and new energy vehicle charging stations. China has pledged fresh efforts in advancing the construction of new infrastructure projects in a bid to further stimulate new consumption demand and boost industrial upgrading by issuing $US529 billion of special local government bonds. In India, the construction sector drives the economy. According to the Indian Department for Promotion of Industry and Internal Trade (DPIIT), FDIs in the construction development sector and construction activities stood at US$ 25.93 billion and US$ 23.99 billion respectively between April 2000 and December 2020. The APAC region has continued to grow, even in the face of the pandemic. According to UNCTAD's World Investment Report, in India robust investment in construction bolstered FDI inflows. Cross-border mergers and acquisitions surged 83% to US$27 billion, with major deals involving infrastructure. The growth of the construction sector, in turn, fuels the growth of the metal foil tapes market in the region over the forecast period.
Metal Foil Tapes Market Drivers
Rising Focus on Maintenance and Repair in the Construction Industry
Infrastructure is known as the backbone of the economy, connecting people and businesses to jobs, goods, services, information, and customers in and outside cities. Access to quality infrastructure expands economic opportunities. Infrastructure needs to be maintained as it can degrade over time. Apart from building new infrastructure, maintenance and repair of existing infrastructure are also of high importance. In November 2021, US President Biden signed into the Bipartisan Infrastructure Bill. This $1.2 trillion plan will revitalize America's deteriorating infrastructure system. Included is $40 billion for bridge repair, replacement, and rehabilitation. The deal will invest $17 billion in port infrastructure and $25 billion in airports to address repair and maintenance. Some 20%, or 173,000 miles, of the nation's highways and major roads, are in poor condition, as are 45,000 bridges, according to the White House. Maintenance of roads should be given top priority as it increases the life span of roads. In 2020-21 the Indian Ministry of Road Transport and Highways allocated Rs 2,618 crore towards the maintenance of roads and highways (including toll bridges). The UK government’s £2.5 billion Pothole Repair Fund was announced in the 2021 budget to improve the existing roads. Foil tape is useful for facilitating quick repairs in the construction and infrastructure sector. Depending on the environment and construction, foil tapes are used on seams and joints. Aluminum foil tape can often help fix roofs and gutters thanks to its strength and resistance to the outdoor elements and UV resistance. Thus, the rising focus on maintenance and repair in the construction industry drives the metal foil tapes industry.
Growth of HVAC Industry
Heating, Ventilating and Air-Conditioning (HVAC) systems are used for providing indoor comfort by maintaining good air quality. HVAC metal ductworks are used in thermal insulation to reduce heat loss, avoid condensation and improve comfort. HVAC insulation system is designed to prevent heat from being transmitted from one area to another. Insulation greatly decreases the amount of energy use and reduced the utility bill. According to a report by Aeroseal LLC, variable speed heat pumps can reduce monthly homeowner’s costs by up to 40%. Proper insulation for a building or home, on its own, can improve HVAC efficiencies by up to 30%. Aluminum foil tape is used extensively in HVAC systems. For instance, the pipe insulation is wrapped with thin wires to give it the necessary support. The wires are then fixed in place with aluminum tape. Joints and interfaces are also covered with aluminum tape to improve the insulation. Acrylic adhesives used in cold weather conditions permit metal foil tapes to adhere very well in sub-zero and low-temperature conditions. These tapes create air-tight seals in ventilation systems and ducts to produce a flexible bond and provide extreme temperature resistance. Therefore, the growth of the HVAC industry provides an opportunity for the growth of the metal foil tapes market and thus acts as a driver.
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Metal Foil Tapes Market Challenges
Availability of Low-Cost Alternatives
Duct mastic is a sticky material that is easy to apply to HVAC systems. It can be applied using a paintbrush and is available at home improvement stores. Mastic can be applied to duct joints and leaks and it ensures that the seal will not fail over time. The main advantage of using mastic is that it is a great choice for hard-to-reach areas and sharply angled duct joints where placing metal foil tape would prove to be difficult. Unlike with using tape, it is not necessary to the area to make sure it is free from dust before using mastic. There is also no risk of mastic delaminating or stripping off over time. It is also lower in price. A gallon of mastic costs approximately $10-15 whereas a roll of aluminum foil tape is around $15-30. Such factors can prove to be a challenge and restrain the growth of the metal foil tapes market.
Metal Foil Tapes Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the metal foil tapes market. Metal foil tapes market top companies are:
The 3M Company
Saint Gobain
Shurtape Technologies LLC
Nitto Denko Corporation
Advance Tapes International
MBK Tape Solutions
Scapa Group Plc
Schaffner Holding AG
Henkel
Greene Rubber Company
Recent Developments
In April 2021, Schweitzer-Mauduit International, Inc., a leading global performance materials company, finalized its acquisition of Scapa Group Plc, a UK-based innovation, design, and manufacturing solutions provider.
In August 2020, Shurtape Technologies, LLC, a leading manufacturer and marketer of pressure-sensitive tapes, has expanded its HVAC product portfolio with new Shurtape brand AF 099 UL /Printed Aluminum Foil Tape. AF 099 is an aluminum foil HVAC tape that is ideal for joining and sealing joints, connections and seams on rigid fiberglass duct boards and flexible air ducts.
Key Takeaways
Asia-Pacific dominates the metal foil tapes market, owing to the increased construction activities in the region. According to Invest India, the construction industry in India is expected to reach $1.4 trillion by 2025.
Aluminum foil tape is ideal for heat shielding, heat reflecting, chemical masking, light enhancement, chemical milling, seaming, sealing, and de-paint operations. So, it is used for numerous applications across a broad range of industries.
The major opportunity for this market is high research spending and the development of low-cost products.
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