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Global Construction Tape Market Overview
Construction Tape Market Size was valued at USD 2.8 Billion in 2022. The Construction Tape industry is projected to grow from USD 2.93 Billion in 2023 to USD 4.19 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.60% during the forecast period (2023 - 2032). An increase in the number of infrastructure development projects and a sharp increase in the demand for materials that are lightweight and efficient in terms of energy are the key market drivers enhancing the market growth.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Construction Tape Market Trends
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Increasing use of construction tapes in homes, businesses, and factories is driving the market growth
Market CAGR for Construction Tape supplements is being driven by the increasing use of construction tapes in homes, businesses, and factories. Building and construction tapes are used in residential, commercial and industrial structures to affix and mount parts to doors, windows, decorative trims, wall coverings, panels and furniture and walls as well as to attach protective bumper rails to walls and bumpers. These goods are utilized as double-sided, UV-resistant, carpet, duct, and masking tapes.
Additionally, the market for construction tape is being considerably impacted by rapid urbanization, population growth, economic development, and a rise in construction activity. As more people move into metropolitan areas, there is a growing demand for housing and infrastructure. Market figures are improving as a result. Urban locations typically have stricter building laws and regulations, which frequently call for the usage of particular kinds of construction tapes for safety and compliance reasons. This is fuelling the demand for specialized cassettes that satisfy these standards.
Environmentally and energy-conscious materials must be used while following green building practices. This covers the application of specialized tapes for sealing and insulation. By minimizing air leakage and enhancing building insulation, these eco-friendly adhesives contribute to increased energy efficiency. The materials used to create eco-friendly tapes have no effect on the environment. The term "eco-friendly tapes" refers to both tapes created from recycled or repurposed materials as well as tapes made from natural materials like paper. The development of the pandemic has caused price fluctuations for many raw materials needed in the production of tape. Petroleum is used in the production of raw materials including polyvinyl chloride, polyethylene terephthalate, polypropylene, and polyethylene.
For instance, OPEC reports that crude oil production has been decreased to 7.7 million barrels per day through December 2020, making it the single largest drop in history. Since the emergence of the new corona virus, declining crude oil demand has caused raw material prices to fluctuate, impeding the market. Thus, result in driving the Construction Tape market revenue.
Construction Tape Market Segment Insights
Construction Tape Product Insights
The Construction Tape market segmentation, based on Product includes Double-Sided Tapes, Masking Tapes, Duct Tapes, and Other Tapes. The double-sided tapes segment dominated the market. Over the forecast period, increased use of double-sided tapes for mounting glass and bonding door panels is predicted to increase demand for the product.
Figure1: Construction Tape Market, by Product, 2022&2032 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Construction Tape Backing Material Insights
The Construction Tape market segmentation, based on Backing Material, includes Polyvinyl Chloride, Polyethylene Terephthalate, Polypropylene, Polyethylene, and Others. The polyethylene terephthalate category generated the most income. It offers solid adhesion and structural stability while withstanding severe loads, strain, and impact. PET backing material is becoming more widely used in construction tape due to its strength and endurance.
Construction Tape Application Insights
The Construction Tape market segmentation, based on Application includes Flooring, Walls & Ceiling, Windows, Doors, and Others. The walls & ceiling segment dominated the market. This is due to the product's use in mounting situations that can be either temporary or permanent. Additionally, it is anticipated that the building sector in Asia Pacific will increase quickly due to shifting consumer habits.
Construction Tape Function Insights
The Construction Tape market segmentation, based on Function, includes Bonding, Protection, Insulation, Glazing, Sound Proofing, and Cable Management. The bonding category generated the most income. Construction tapes with bonding capabilities offer dependable adherence between various surfaces, materials, or parts in construction applications. Panels, boards, trimmings, moldings, and other structural elements are among the many building materials that they are used to unite and bond.
Construction Tape Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. Due to an increase in national government programs to provide housing options for the growing population, the North American Construction Tape market sector will lead this industry. The existence of independent organizations like INFONAVIT, PEMEX, and CONAVI is expected to promote the expansion of the local residential construction industry.
Further, the major countries studied in the market report are The US, France, Canada, German, the UK, Italy, Spain, China, India, Australia, South Korea, Japan, and Brazil.
Figure 2: CONSTRUCTION TAPE MARKET SHARE BY REGION 2022 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Europe Construction Tape market attributable to the growth of the commercial building sector, holds the second-largest market share. Further, the German Construction Tape market held the largest market share, and the UK Construction Tape market was the European region's fastest-growing market.
The Asia-Pacific Construction Tape Market is anticipated to develop at the fastest CAGR between 2023 and 2032. This is due to utilization of double-sided products has expanded, and they are widely employed in a variety of building applications. Moreover, China’s Construction Tape market held the largest market share, and the Indian Construction Tape market was the Asia-Pacific region's fastest-growing market.
Construction Tape Key Market Players& Competitive Insights
Leading market players are making significant R&D investments to expand their product lines, which will help the construction tape market expand even further. Additionally, market participants are engaging in a range of strategic initiatives to increase their worldwide reach, with important market developments such as the introduction of new products, contracts, mergers and acquisitions, increased investments, and cooperation with other organizations. To grow and endure in an increasingly competitive and challenging market environment, Construction Tape industry must provide reasonably priced goods.
One of the main business strategies employed by manufacturers is to produce locally to reduce operational expenses in the Construction Tape industry to benefit clients and increase the market sector. In recent years, the Construction Tape industry has offered some of the most significant advantages to construction sector. Major players in the Construction Tape market, including 3M, Tesa SE, Avery Dennison Corporation, Saint-Gobain, Henkel AG & Co. KGaA, and others, are engaging in research and development activities in an effort to improve market demand.
3M Company works in the areas of business, consumer goods, healthcare, and worker safety. The business manufactures more than 60,000 items under numerous names, such as laminates, adhesives, abrasives, passive fire prevention, personal safety gear, etc. Its headquarters are in Maplewood, a Minnesota suburb of Saint Paul. A handful of the company's subsidiaries are abroad, including 3M Canada, 3M Japan, and 3M India. The Minnesota Mining and Production Company were established by five businessmen in Two Harbours, Minnesota, as a mining operation. In 2022, the Corporation declared that it would separate its healthcare assets into a brand-new, independent company, with the sale probably closing in 2023.
 Tesa SE is a German company that creates adhesive products. When it was first established in 2001, the business was a part of Beiersdorf, and it continues to be one of its subsidiaries today. The brand name is recognized as a synonym for adhesive tape in Germany and is included in the Duden lexicon as such. The business not only sells adhesive tapes to consumers, but it also provides adhesives to other sectors. Customers include Apple and Samsung, who use Tesa's adhesives to construct smart phones and tablet computers, as well as the auto sector, which uses the company's adhesives for a variety of purposes including windows, sensors, and displays. In 2022, the foundation of Tesa SE's new facility, which is situated in the Vietnamese port of Haiphong, cost about USD 61.5 million. Because Asia is one of the fastest-growing markets, the company intends to increase its manufacturing capacity for the region. This new facility will produce 40 million square meters of sticky tape annually.
Key Companies in the Construction Tape market include
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3M
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Avery Dennison Corporation
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Saint-Gobain
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Henkel AG & Co. KGaA
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DuPont
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Shurtape Technologies, LLC.
Construction Tape Industry Developments
April 2021:Â Scapa Group Ltd. was successfully purchased by SWM International. The company's capacity for research, invention, and production was greatly increased by this acquisition.
December 2019:Â Nitto Denko Corporation increased their market share in Japan. In order to boost the company's brand value, this new office was built with the intention of strengthening the corporate system.
May 2022: Bostik introduced their new line of creative adhesive products for woodworking. Its Supergrip adhesive solutions line produced the new solutions, SG6518 and SG6520.
Construction Tape Market Segmentation
Construction Tape Product Outlook
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Double-Sided Tapes
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Masking Tapes
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Duct Tapes
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Other Tapes
Construction Tape Backing Material Outlook
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Polyvinyl Chloride
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Polyethylene Terephthalate
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Polypropylene
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Polyethylene
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Others
Construction Tape Application Outlook
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Flooring
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Walls & Ceiling
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Windows
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Doors
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Others
Construction Tape Function Outlook
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Bonding
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Protection
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Insulation
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Glazing
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Sound Proofing
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Cable Management
Construction Tape Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
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