Construction Adhesive Tapes Market Share, Size, Trends, Industry Analysis Report, By Type (Water-based, Hot Melt, Solvent-based, Pressure Sensitive, Others); By Application; By Region; Segment Forecast, 2024 - 2032
- Published Date:Jan-2024
- Pages: 118
- Format: PDF
- Report ID: PM2658
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global construction adhesive tapes market was valued at USD 2527.71 million in 2023 and is expected to grow at a CAGR of 4.46% during the forecast period.
The construction adhesive tapes market is experiencing significant growth, driven by the safety and ease of application provided by construction adhesive tapes. These tapes offer a convenient solution for joining and sealing materials in construction projects, making them highly sought after in the industry.
To Understand More About this Research: Request a Free Sample Report
The booming construction sector in developing countries is another major market driver. As these countries witness rapid urbanization and infrastructure development, the demand for construction adhesive tapes increases. Additionally, government schemes to improve public infrastructure and promote cost-effective non-residential construction further fuel the market's growth.
Manufacturers play a crucial role in driving the demand for construction adhesive tapes through extensive research and development activities. By investing in innovation, they can introduce new and improved products that cater to specific applications and conditions. This constant evolution in tape technology not only meets the diverse needs of customers but also enhances the performance and durability of these tapes.
The application of adhesive construction tapes is expanding across various sectors. Educational buildings, retail outlets, healthcare facilities, metro stations, and hotels are among the key areas where these tapes find extensive use. One notable advantage of adhesive tapes is their ability to eliminate hollow spaces under tiles, making them a preferred choice for flooring applications. Moreover, their ability to sustain indoor applications in buildings, hospitals, and schools presents promising opportunities for market expansion.
The market is highly competitive, with numerous vendors and manufacturers vying for market share. Companies focus on continuous research and innovation to develop advanced products to stay ahead in this competitive landscape. Market attractiveness is determined by factors such as the current market size, growth prospects, required investments, cash output, research and innovation capabilities, and potential investment requirements.
For Specific Research Requirements: Request for Customized Report
The construction adhesive tapes market was significantly affected by the COVID-19 pandemic, as lockdown measures, supply chain disruptions, and reduced construction activities led to a decline in demand. Construction projects were put on hold, causing a decrease in construction adhesive tape requirements. Additionally, supply chain disruptions impacted the availability of raw materials and increased production costs. However, as lockdown restrictions eased and construction activities gradually resumed, the market started to recover. The emphasis on health and safety measures and the growing focus on sustainable construction practices present new opportunities for the market. Manufacturers are developing environmentally friendly adhesive tapes to meet changing trends and regulations.
Industry Dynamics
Construction Adhesive Tapes Market: Growth Drivers
The construction adhesive tapes market is experiencing growth driven by the thriving construction sector globally is a major driver. As the industry continues to expand and develop, there is an increasing demand for reliable bonding and sealing solutions, which boosts the need for construction adhesive tapes. Rapid urbanization and infrastructure development contribute significantly to market growth, particularly in emerging economies. The rise in urban population leads to a surge in construction activities such as residential, commercial, and public infrastructure projects. This sustained demand for construction adhesive tapes results from the ongoing urbanization and infrastructure development projects.
In addition, government initiatives and investments are vital in driving the market. Governments are implementing schemes and policies to improve public infrastructure and promote sustainable construction practices. Investments in infrastructure development, including transportation networks, healthcare facilities, educational institutions, and public utilities, create a substantial demand for construction adhesive tapes.
The safety and ease of application offered by adhesive construction tapes and their ability to securely bond different materials, seal joints, and provide reliable adhesion make them a preferred choice in various construction applications. This contributes to their increasing popularity among contractors and construction professionals. Manufacturers ' ongoing research and development activities are also instrumental in the market's growth. Innovations in adhesive tape products lead to improved performance, durability, and versatility, attracting more customers and driving market expansion.
Moreover, the growing focus on sustainability and green construction practices positively impacts the construction adhesive tapes market. Adhesive tapes that are low in volatile organic compounds (VOCs), recyclable, and environmentally friendly are increasingly favored, aligning with the industry's sustainability goals. Additionally, the diversification of end-use applications further drives market growth. Construction adhesive tapes are finding increased applications in residential, commercial, industrial, healthcare, and transportation sectors. This expansion into various industries broadens the customer base and stimulates market expansion.
Report Segmentation
The market is primarily segmented based on type, application, and region.
|
By Type |
By Application |
By Region |
|
|
|
To Understand the Scope of this Report: Speak to Analyst
Hot melt segment dominated the market in 2022
The hot melt segment dominated the market in 2022, capturing a significant market share. Solid hot melt adhesives can melt easily at ambient temperature, allowing for smooth flow and easy dispensing to the desired location with precision and control. Once cooled, hot melt adhesives solidify, forming strong bonds between substrates.
One of the major advantages of hot melt adhesive tapes is their brief setup period compared to other types of adhesives, such as solvent-based, water-based, or curable pressure-sensitive adhesives. This fast setup time enables efficient and rapid bonding in construction applications. Hot melt adhesive tapes can be categorized into two sub-segments: non-formulated and formulated.
Residential segment held the significant market revenue share in 2022
The residential segment is accounted to register significant revenue shares in the market in 2022. Adhesive tapes offer several residential-use advantages, including easy application and bonding to existing and special surfaces.
Builders and contractors are increasingly opting for water-based, pressure-sensitive adhesive tapes as an alternative to traditional flashing materials like metal or plastic pieces. This shift in preference is driven by the ease of use and effectiveness of adhesive tapes for flashing applications. The growing sales of new homes, as The National Association of Realtors reported, further contribute to the demand for adhesive tapes in the building and construction sector.
Adhesive tapes also find effective use in sealing windows and doors of residential buildings, protecting environmental conditions. Insulation tapes, often equipped with pressure-sensitive adhesive, are commonly employed. These tapes resist fluctuating temperature ranges, UV rays, expansion and contraction mechanisms, and water vapor, making them ideal for sealing and insulating residential structures.
Asia Pacific expected to hold largest market share of the market during forecast period
The Asia Pacific region is poised to hold the largest market share. This growth can be attributed to the region's experiencing high economic growth, particularly in developing economies like China, India, Japan, Malaysia, and Australia. This economic growth drives demand for residential construction projects, increasing the need for adhesive tapes.
Furthermore, the demand for adhesive tapes in Asia is fueled by the growing number of infrastructural projects in countries like China and India. These projects encompass various construction activities, including developing transportation networks, residential complexes, commercial buildings, and public infrastructure. The need for reliable bonding and sealing solutions in these projects drives the demand for construction adhesive tapes.
Competitive Insight
Some of the major players operating in the global market include Bostik, Ideal Tape Company, 3M Company, Lohmann GmbH & Co.KG, Nitto Denko Corporation, Tesa SE, Advance Tapes International Ltd, Intertape Polymer Group, DENSO-Holding GmbH & Co., Beery Global Inc., Scapa Group Ltd, Sika AG, Nichiban Co., Ltd., Saint-Gobain Weber Co., Ltd., HiCube Coating.
Recent Developments
- In May 2022, 3M Company expanded its product portfolio with 3M wear adhesive tapes.
- In April 2021, SWM International acquired Scapa Group Ltd., a move that has substantially expanded the company's research, innovation, and manufacturing capabilities. With this acquisition, SWM International has significantly enhanced its ability to conduct research and development activities, fostering innovation in its product offerings.
Construction Adhesive Tapes Market Report Scope
|
Report Attributes |
Details |
|
Market size value in 2024 |
USD 2639.56 million |
|
Revenue forecast in 2032 |
USD 3,751 million |
|
CAGR |
4.5% from 2024 – 2032 |
|
Base year |
2023 |
|
Historical data |
2019 – 2022 |
|
Forecast period |
2024 – 2032 |
|
Quantitative units |
Revenue in USD million and CAGR from 2024 to 2032 |
|
Segments Covered |
By Type, By Application, By Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
|
Key Companies |
Bostik, Ideal Tape Company, 3M Company, Lohmann GmbH & Co.KG, Nitto Denko Corporation, Tesa SE, Advance Tapes International Ltd, Intertape Polymer Group, DENSO-Holding GmbH & Co., Beery Global Inc., Scapa Group Ltd, Sika AG, Nichiban Co., Ltd., Saint-Gobain Weber Co., Ltd., HiCube Coating. |
FAQ's
key companies in construction adhesive tapes market are Bostik, Ideal Tape Company, 3M Company, Lohmann GmbH & Co.KG, Nitto Denko Corporation, Tesa SE.
The global construction adhesive tapes market is expected to grow at a CAGR of 4.5% during the forecast period.
The construction adhesive tapes market report covering key segments are type, application, and region.
key driving factors in industrial construction adhesive tapes market are Rise in urban population and strengthening industrial development
The global construction adhesive tapes market size is expected to reach USD 3,751 million by 2032.
© 2024 Polaris Market Research and Consulting. All rights reserved
