Building And Construction Tapes Market Projected To Reach USD 6.94 Billion By 2030

 San Francisco, 11 April 2024: The Report Building And Construction Tapes Market Size, Share & Trends Analysis Report By Product, By Backing Material, By Application, By Function, By Distribution Channel, By End-use, By Region, And Segment Forecasts, 2024 - 2030

The global building and construction tapes market is anticipated to reach USD 6.94 billion by 2030 and is anticipated to expand at a CAGR of 5.7% during the forecast period, according to a new report by Grand View Research, Inc. The demand for building and construction tapes is expected to be driven by increasing product demand by consumers and contractors in developed economies. In addition, growing use of environment-friendly bonding solutions in North America and Europe is expected to drive market over the forecast period.

Adhesive tapes mainly contain four component layers including adhesives, backing material, release liner, and primer. Adhesives consist of acrylic polymer, synthetic, or natural rubber. Backing material may be foil, crepe paper, fabric, cellophane, cellulose acetate, and plasticized polyvinyl chloride. Primer is used between the adhesives and backing to ensure good adhesion between the two. It may be of natural or synthetic elastomers and may contain some tackifiers. Release liner mainly includes siliconized papers or films.

Companies involved in the production of tapes for use in building and construction industry manufacture a variety of products for use in various applications in the industry. Products such as masking and duct tapes are generally manufactured by a large number of players due to ease of manufacturing. As a result, profit margins for the same are lower in comparison to products such as specialty tapes and double-sided tapes.

The demand for tapes in building and construction industry is expected to be hampered by high penetration levels of adhesives and sealants, primarily in Asia Pacific. The demand for adhesives for use in windows and doors is primarily limited to bonding of the panels. Moreover, use of products such as air-sealing adhesives in windows is expected to ascend over the forecast period.

The market players are focusing on increasing their market share through sustainable growth They also emphasize active cost management via the efficient use of resources to achieve profitable growth in sales volume. Companies prefer to maintain strategic relationships with key suppliers to avoid disruptions in operations. Several companies are also opting for raw material inventory management to maintain a steady supply.

Access Research Report of Building And Construction Tapes Market @ https://www.grandviewresearch.com/industry-analysis/building-construction-tapes-market

Building And Construction Tapes Market Report Highlights

• Double sided tapes are the largest and fastest growing market over the period of 2024 to 2030 with a CAGR of 6.9%. The product’s growth in building and construction industry is expected to be driven by the increasing penetration in Europe and North America. The product finds extensive use in bonding of trims and window attachments. In addition, such tapes are also used extensively in bonding door panels and mounting glass elements
• Demand for foam-backed material is estimated to reach USD 2.02 billion by 2030. Shock absorption, vibration dampening, compensating for uneven surfaces, and thermal sealing across substrates with varying temperatures are all performance attributes of double-sided foam tapes. These tapes can also be used as seals to prevent air, gases, moisture, and humidity, thus growing the demand for foam-backed tapes
• Use of products for temporary or permanent mounting is expected to drive market growth over the forecast period. The demand for building and construction tapes in windows is estimated to witness growth at a CAGR of 6.8% in terms of revenue, from 2023 to 2030, on account of rising demand for adhesive tapes for mounting window panels and sealing gaps in the window panels
• End-use is segmented into residential, commercial, and industrial industries, wherein residential accounted for the largest volume share of 49.6% in 2023. One of the major factors that are propelling the market growth is product usage for bonding and barrier protection. Furthermore, customers in North America's residential market indicate higher adoption of building and construction tapes due to increased preferences for aesthetics
• Europe dominated the market accounting for a revenue of USD 1.64 billion in 2023. The region's rising building and construction industries have increased demand for construction materials such as tapes. The market is also predicted to grow throughout the forecast period due to a surge in residential constructions fueled by the region's rising immigrant population
• Players in the market are prioritizing portfolio management through strategic acquisitions and divestitures. Since product innovation helps prevent price-based competition, a majority of companies emphasize building their technological capabilities in order to improve their product development capacity

Building And Construction Tapes Market Report Scope

Report Attribute	Details
Market size value in 2024	USD 4.96 billion
Revenue forecast in 2030	USD 6.94 billion
Growth rate	CAGR of 5.7% from 2024 to 2030
Base year for estimation	2023
Historical data	2018 - 2022
Forecast period	2024 - 2030

List of Key Players in the Building And Construction Tapes Market

• L&L Products Inc.
• Tesa SE
• 3M
• PPG Industries, Inc.
• American Biltrite Inc.
• Avery Dennison Corporation
• Saint-Gobain S.A.
• Berry Global Group, Inc.
• LINTEC Corporation
• Jonson Tapes Ltd.
• Scapa
• Shurtape Technologies, LLC
• Henkel AG & Co., KGaA
• Nitto Denko Corporation
• Lohmann GmbH & Co. KG
• Maxell Sliontec Ltd.
• DuPont
• Bow Tape Co. Ltd.

Access Press Release of Building And Construction Tapes Market @ https://www.grandviewresearch.com/press-release/global-building-construction-tapes-market