What is the Historic and Current Scenario of the Building And Construction Tapes Market?
The building and construction tapes market has seen considerable growth due to a variety of factors.
•In recent times, the market size of building and construction tapes has observed steady expansion. Projected to ascend from $4.66 billion in 2024 to $4.86 billion in 2025, it has a compound annual growth rate (CAGR) of 4.4%.
Factors that contributed to its growth during the historic period include the expansion of the construction sector, heightened focus on energy efficiency, uptick in repair and maintenance works, application of waterproofing, and the increased demand for eco-friendly building materials.
What are the Forecasted Growth and Key Factors of the Building And Construction Tapes Market?
The building and construction tapes market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of building and construction tapes is projected to witness robust growth in the coming few years, escalating to $6.2 billion by 2029 with a compound annual growth rate (CAGR) of 6.3%.
This upward trend in the forecast period can be ascribed to the surge in green building initiatives, the launch of infrastructure development projects, the increasing popularity of prefabricated construction, a rising understanding of air and water barrier systems, and the demand for residential and commercial real estate. Key trends for this period encompass the launch of double-sided tapes, increased emphasis on noise damping tapes, the debut of energy-efficient insulation tapes, customization and personalization of tape solutions, as well as the digitization and introduction of smart construction tapes.
What Are the Critical Driver Fuelling the Building And Construction Tapes Market's Growth?
The expansion of the construction sector is projected to fuel the growth of the building and construction tapes market. The construction sector includes activities that pertain to planning, designing, building, and maintaining structures, buildings, infrastructure, and other physical assets. Building and construction tapes are frequently used in this sector for multiple reasons, including temporary fixes, surface protection, sealing and waterproofing, insulation, and securing and fastening. For example, a report from the United States Census Bureau, a US government agency, revealed in May 2023 that construction spending rose from $1,768.2 billion in March 2022 to $1,834.7 billion in March 2023. This represents a 3.8% increase in construction spending. Consequently, the expanding construction sector is contributing to the growth of the building and construction tapes market.
How Is the Building And Construction Tapes Market segmented?
The building and construction tapes market covered in this report is segmented –
1) By Product: Double-Sided Tapes, Masking Tapes, Duct Tapes, Other Products
2) By Backing Material: Polyvinyl Chloride (PVC), Polyethylene Terephthalate, Polypropylene, Foil, Polyethylene, Foam, Paper, Other Backing Materials
3) By Function: Bonding, Protection, Insulation, Glazing, Sound Proofing, Cable Management
4) By Application: Doors, Flooring, Roofing, Walls And Ceilings, Windows, Building Envelope, Plumbing, HVAC (Heating, Ventilation, And Air Conditioning), Electrical
5) By End Use: Commercial, Residential, Industrial
Subsegments:
1) By Double-Sided Tapes: Foam Double-Sided Tapes, Film Double-Sided Tapes, Tissue Double-Sided Tapes
2) By Masking Tapes: General Purpose Masking Tapes, Specialty Masking Tapes
3) By Duct Tapes: Standard Duct Tapes, Heavy-Duty Duct Tapes, Waterproof Duct Tapes
4) By Other Products: Electrical Tapes, Safety Tapes, Insulation Tapes
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What New Trends Are Influencing the Building And Construction Tapes Market?
The building and construction tapes market is strongly influenced by the trend of product innovation. Major players in this market are creating new and inventive products to maintain their market presence. For example, in March 2023, Italian plastic fabrication company IRPLAST launched their new NOPP tape. This novel product, made from 50% recycled materials, reflects the company's dedication to environmental sustainability and their contribution to the SABIC's TRUCIRCLE campaign, aimed at producing highly recyclable and renewable packaging. The NOPP Tape addresses the increasing interest in environmentally-friendly products in the flexible packaging market and provides businesses with a sustainable solution that doesn't sacrifice performance. By including recycled materials in their products, IRPLAST hopes to lessen their ecological footprint while preserving product quality and efficiency, helping forward the progression to a circular economy within the packaging sector.
Who Are the Key Players in the Building And Construction Tapes Market?
Major companies operating in the building and construction tapes market include:
• Saint-Gobain Group.
• 3M Company
• Henkel AG And Co. KGaA
• Berry Global Inc.
• DuPont de Nemours Inc.
• Avery Dennison Corporation
• Nitto Denko Corporation
• Tesa SE
• Ahlstrom Munksjo Oyj
• Lohmann GmbH And Co. KG
• Scapa Group PLC.
• Intertape Polymer Group Inc.
• FLEXcon Company Inc.
• PPM Industries S.P.A.
• Gaska Tape Inc.
• Advance Tapes International Ltd.
• Cantech Industries Inc.
• Lamatek Inc.
• MBK Tape Solutions
• NADCO Tapes & Labels Inc.
• Heskins Ltd.
• PPI Adhesive Products (C.E.) s.r.o.
• Shurtape Technologies LLC.
• BowTape Co. Ltd.
• Tape-Rite Co. Inc.
What Is The Most Dominant Region In The Building And Construction Tapes Market?
North America was the largest region in the building and construction tapes market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the building and construction tapes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
