New York, United States, April 11, 2024 (GLOBE NEWSWIRE) -- Building and construction tapes provide strong adhesion for various applications in infrastructure projects. Building and construction tapes are synthetic materials that adhere two surfaces together to facilitate contraction. In addition to enhancing the visual appeal of both interior and exterior structures, building and construction tapes offer unparalleled advantages, such as effortless and rapid application on any surface, as well as safeguarding walls and windows. Moreover, the building and construction tapes renovate the building framework, provide insulation, facilitate painting, and secure or group wires.
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Growth of the Building and Construction Industry Drives the Global Market
The building and construction industry is witnessing significant growth and prosperity on a global scale. Australia, India, China, Indonesia, Norway, Sweden, and Canada actively and extensively promote their construction and infrastructure development. They are projected to demonstrate consistent market expansion throughout the projected timeframe. Sustained economic growth coupled with low interest rates has increased the approvals for building projects across the globe. Approximately 50% of India's construction activity demand comes from the infrastructure sector.
According to the India Brand Equity Foundation (IBEF), the real estate market in India is expected to reach a size of USD 853 billion by 2028. Moreover, the projected growth in population, accelerated urbanization, and industrial development in developing countries are anticipated to compel governments to augment their expenditure on construction to meet the escalating demands for infrastructure. The demand for adhesive tapes in various construction applications is expected to increase significantly during the forecast period.
Production of Eco-Friendly Tapes Creates Tremendous Opportunities
Several international companies in the building and construction tape market have redirected their attention towards manufacturing environmentally friendly tapes to positively impact the environment. In July 2022, Nitto Denko Corporation, a prominent global tape manufacturer, unveiled a new program to identify and acknowledge environmentally sustainable products. Nitto Denko Corporation announced the implementation of a product identification system using PlanetFlags and HumanFlags. This action undertaken by the company emphasizes its social impact. Nitto Denko Corporation introduced a dual-sided adhesive tape with low volatile organic compounds (VOC) in 2021, which has received recognition in the PlanetFlags category.
Regional Analysis
North America is the most significant global building construction tapes market shareholder and is expected to expand substantially over the forecast period. The adhesive tapes market in North America's building and construction industry is expected to grow due to the rising residential and commercial construction activities in the United States. Consumers in the country have shown a predilection for advanced products in residential, commercial, and industrial construction areas.
Furthermore, the market is expected to expand as a result of a robust and well-structured building and construction sector. The region's primary use of masking tapes is for barrier protection applications. Masking tapes are commonly employed in painting to restrict the application of paints to specific areas. Moreover, the region is predicted to experience a significant demand for duct tapes in insulation and HVAC applications, making it a prominent market segment throughout the projected timeframe.
Key Highlights
- By product, the global building construction tapes market is categorized into double-sided tapes, masking tapes, duct tapes, and other tapes. The duct tape segment dominates the global market and is predicted to exhibit a CAGR of 1.8% during the forecast period.
- Based on backing material, the global building construction tapes market is categorized into PVC, PET, PP, PE, foil, paper, foam, and others. The foam segment owns the highest market share and is estimated to grow at a CAGR of 3.6% during the forecast period.
- Based on application, the global building construction tapes market is categorized into flooring, walls and ceiling, windows, doors, roofing, building envelope, electrical, HVAC, and plumbing. The walls and ceiling segment dominates the global market and is estimated to exhibit a CAGR of 3.3% during the forecast period.
- Based on function, the global building construction tapes market is categorized into bonding, protection, insulation, glazing, soundproofing, and cable management. The protection segment owns the highest market share and is estimated to grow at a CAGR of 2.9% during the forecast period.
- Based on end-users, the global building construction tapes market is bifurcated into residential, commercial, and industrial. The residential segment dominates the global market and is estimated to exhibit a CAGR of 3.5% during the forecast period.
- Based on the distribution channel, the global building construction tapes market is categorized into direct and third parties. The direct segment owns the highest market share and is estimated to exhibit a CAGR of 2.7% during the forecast period.
- North America is the most significant global building construction tapes market shareholder and is expected to expand substantially over the forecast period.
Competitive Players
The global building construction tapes market players are Tesa SE, 3M, Nitto Denko Corp., Lintec, L & L Products, PPG Industries, Inc., American Biltrite, Inc., Avery Dennison Corporation, Saint Gobain S.A., among others.
Market News
- In August 2023, Avery Dennison Performance Tapes introduced a new range of high-performing pressure-sensitive adhesive (PSA) tape products for the building and construction sector. The Cold Tough Adhesive Portfolio provides a bonding solution that works well in various weather conditions, from the harsh winter months to the summer's extreme humidity. Thanks to its adhesive chemistry, cold Tough is made to resist harsh weather, such as protracted droughts and torrential downpours.
Global Building Construction Tapes Market: Segmentation
By Product
- Double Sided Tapes
- Masking Tapes
- Duct Tapes
- Other Tapes
By Backing Material
- PVC
- PET
- PP
- PE
- Foil
- Paper
- Foam
- Others
By Applications
- Flooring
- Walls and Ceiling
- Windows
- Doors
- Roofing
- Building Envelope
- Electrical
- HVAC
- Plumbing
By Function
- Bonding
- Protection
- Insulation
- Glazing
- Sound Proofing
- Cable Management
By End-User
- Residential
- Commercial
- Industrial
By Distribution Channel
- Direct
- Third-Party
By Regions
- North America
- Europe
- Asia-Pacific
- Central and South America
- The Middle East and Africa
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