Global Building and Construction Tapes Market is segmented By Material Type (Polyvinyl Chloride, Polypropylene, Polyethylene, Foil, Paper, Foam), By Product Type (Double Sided Tapes, Masking Tapes, Duct Tapes, Others), By Application (Abatement/Containment/Restoration, Electrical, General Construction, HVAC/Insulation, Paint Masking, Others), By End-User (Residential, Commercial, Industrial), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Building and Construction Tapes Market Size
The global building and construction tapes market size was worth US$ YY million in 2023 and is estimated to reach US$ YY million by 2031, growing at a CAGR of YY% during the forecast period (2024-2031).
Building and construction tapes are specially designed to be strong, reliable, and consistent. With exceptional shear strength and insulating properties that are effective and efficient, these tapes are suitable for professional, industrial and domestic use.
Moreover, these construction tapes are based on HMPSA technology. Hot melt pressure-sensitive technologies provide incredibly high levels of tack between two substrates once they have cooled.
Rapid industrialization and urbanization worldwide because of the growing population have increased the construction industry, positively impacting the market size during the forecast period.
Source: DataM Intelligence Analysis (2021)
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Building and Construction Tapes Market Dynamics
The demand for tapes in housing and commercial uses is expected to drive the market
The strong housing market and low interest rates have helped the real estate business. Also, construction is poised to benefit from the resurgence in infrastructure spending. Hence, construction companies are looking to invest in new technology both for the job site and in the back office to take advantage of negative inflation-adjusted interest rates.
Moreover, the government’s policy and the fiscal response have allowed for stability in the property markets, making them better for investors. For instance, as per the RSM report, the construction sector is set to benefit from a $1.3 billion allocation under the Biden infrastructure plan in the US.
Henceforth, growing housing and commercial uses is anticipated to drive the market.
Stringent environmental regulations regarding the Volatile Organic Compounds (VOC) emissions are likely to hinder the two-part adhesive market
Environmental regulations and specifications from international bodies, federal state, local governments and different NGOs are becoming prevalent. For instance, CARB (California Air Resources Board) regulations and LEED (Leadership in Energy and Environmental Design) certification requirements are required at the forefront of regulatory issues involving adhesives.
However, introduction of paper and bioplastic based adhesive tape which is considered to be stable, safe, and ecofriendly is likely to gain popularity, owing to rising awareness regarding environmentally safe products.
Building and Construction Tapes Market Segment Analysis
Based on product type, building & construction tapes market is segmented into double-sided tapes, duct tapes, masking tapes and others.
Double-sided tape is a pressure-sensitive tape (PSA) consisting of film, paper, foam, cloth, or foil carrier, with an acrylic, rubber or silicone adhesive coated on both sides. It is one of the strongest tapes ever put on the market, offering industrial power and tackling any challenge. It is a quick and efficient solution to both interior and exterior bonding solutions. It is designed to be a permanent method to bond practically any surface, including metal, glass, wood, and many surface energies paints and plastics.
Moreover, the double-sided tape is much more durable, being able to, on average, take on freezing temperatures of 0 degrees Celsius.
Building and Construction Tapes Market Geographical Share
The Asia Pacific dominates the building & construction tapes due to increased demand for foam backing material to use in double-sided products, extensively used in various building applications. High volume growth has been noted for PVC backing material because of its properties, such as resistance to heat and dimensional stability, which also contributes to its increased usage in the growing construction industry in this region.
The Chinese government has massive construction plans, including making provisions for the movement of 250 million people to its new megacities during the next ten years. As per the National Bureau of Statistics (NBS), real estate investment in China rose 7.0% in 2020 from a year earlier, accelerating from a 6.8% gain in the first 11 months of the year.
Moreover, the growing demand for building and construction tapes in Japan can be attributed to the improved economic conditions and the reconstruction of existing facilities owing to the upcoming sporting events in 2020.
Building and Construction Tapes Market Companies
The building and construction tapes market is moderately competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include 3M, Bostik, Advance Tapes International, Shurtape Technologies, LLC, Saint-Gobain, Berry Global Inc., LINTEC Corporation, Godson Tapes Pvt. Limited, Scapa Group plc, Tesa Tapes (India) Private Limited among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the building and construction tapes market globally.
3M
Overview: 3M Company is an American multinational corporation working in the industry, worker safety, US health care, and consumer goods. It is headquartered in Minnesota, US.
Product Portfolio: 3M serves the construction industry with a comprehensive line of tapes. 3M™ VHB™ tapes are stronger to replace rivets and screws.
Key Developments:
- In May 2020, 3M entered three-year collaboration agreement with Wrapmate, an end-to-end digital platform.
Why Purchase the Report?
- Visualize the composition of the building and construction tapes market segmentation by material type, product type, application, end-user and region highlighting the key commercial assets and players.
- Identify commercial opportunities in building and construction tapes market by analyzing trends and co-development deals.
- Excel data sheet with thousands of data points of building and construction tapes market - level 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
The global building and construction tapes market report would provide an access to an approx. 69 market data table, 67 figures and 234 pages.
Target Audience 2024
- Service Providers/ Buyers
- Industry Investors/Investment Bankers
- Education & Research Institutes
- Research Professionals
- Emerging Companies
- Manufacturers
