The Building And Construction Tapes Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Building And Construction Tapes Global Market Report 2024, The building and construction tapes market size has grown steadily in recent years. It will grow from $4.48 billion in 2023 to $4.69 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to construction industry growth, increased emphasis on energy efficiency, repair and maintenance activities, waterproofing applications, demand for sustainable building materials..
The building and construction tapes market size is expected to see strong growth in the next few years. It will grow to $5.72 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to green building initiatives, infrastructure development projects, rising trend of prefabricated construction, growing awareness of air and water barrier systems, residential and commercial real estate demand.. Major trends in the forecast period include introduction of double-sided tapes, focus on noise damping tapes, introduction of energy-efficient insulation tapes, customization and tailored tape solutions, digitalization and smart construction tapes.
The growing construction industry is expected to boost the growth of the building and construction tapes market going forward. The construction industry refers to the sector of the economy that encompasses activities related to the planning, design, construction, and maintenance of structures, buildings, infrastructure, and other physical projects. Building and construction tapes are commonly used in the construction industry for a variety of purposes, such as temporary repairs, surface protection, sealing and waterproofing, insulation, and securing and fastening. For instance, in May 2023, according to a report shared by the United States Census Bureau, a US-based government agency, construction spending increased from $1,768.2 billion in March 2022 to $1,834.7 billion in March 2023, a 3.8% increase in construction spending. Further, in February 2022, according to a report published by the Office for National Statistics, a UK-based government agency, the annual construction sector in the UK rose by a record 12.7% in 2021 compared to the previous year. Therefore, the growing construction industry is driving the growth of the building and construction tapes market.
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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
Product innovation is the key trend gaining popularity in the building and construction tapes market. Major companies operating in the building and construction tapes market are developing innovative products to sustain their position in the market. For instance, in May 2021, Intertape Polymer Group Inc., a Canada-based packaging products and systems company, launched a flame-retardant polyethylene (PE) tape called PEFR. This innovative tape is designed for use in a variety of applications where flame-retardant materials are required to add a critical layer of fire protection. It is a heavy-duty tape that is suitable for use in hospitals, academic buildings, labs, shipyards, and construction sites where flame-retardant materials are necessary to add a vital layer of fire prevention security. Additionally, it is made of high-quality polyethylene that is strong, durable, and water-resistant and can be used in a variety of environmental conditions. It is repositionable during use without leaving a messy residue. It also increases fire safety and compliance with fire safety standards.
The building and construction tapes market report table of contents includes:
1. Executive Summary
2. Building And Construction Tapes Market Characteristics
3. Building And Construction Tapes Market Trends And Strategies
4. Building And Construction Tapes Market – Macro Economic Scenario
5. Global Building And Construction Tapes Market Size and Growth
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26. South America Building And Construction Tapes Market
27. Brazil Building And Construction Tapes Market
28. Middle East Building And Construction Tapes Market
29. Africa Building And Construction Tapes Market
30. Building And Construction Tapes Market Competitive Landscape And Company Profiles
Top Major Players:
- aint-Gobain Group
- 3M Company
- Henkel AG And Co. KGa
- Berry Global Inc
- DuPont de Nemours Inc
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