Building and Construction Tapes Market Size, Share & COVID-19 Impact Analysis, By Product Type (Double Sided Tapes, Masking Tapes, Duct Tapes, and Others), By Application (Flooring, Walls & Ceiling, Windows, Doors, Roofing, and Others), By Function (Bonding, Protection, Insulation, Glazing, Sound & Water Proofing, and Others), By End Use (Residential, Commercial, and Industrial), and Regional Forecasts, 2023-2030

The global building and construction tapes market size was valued at USD 4.17 billion in 2022. The market is projected to grow from USD 4.32 billion in 2023 to USD 5.82 billion by 2030, exhibiting a CAGR of 4.4% during the forecast period.

The commercial, residential, and industrial sectors widely use such tapes for bonding and mounting several components on their doors & windows, wall casings, panels to edges, decorative borders, and protective rails to furniture and walls. Building and construction tapes consist of several products such as duct, double-sided, UV-resistant, masking tapes, and many others. Such tapes' ability to withstand extremely high temperatures for an extended period also propels their demand among manufacturers. The rising demand for adhesive tapes in the construction industry is the key factor driving the global market growth. Additionally, easy repair & maintenance offered by these tapes will drive market growth. Advancements in technologies and new product launches from market players will provide profitable opportunities for market growth.

COVID-19 IMPACT

Emergence of COVID-19 Pamdemic Led to Slowdown in Production Activities and Affected the Market Growth

Due to the lockdowns imposed amid the pandemic, the production of various products in the market slowed down. It also hindered the market growth and will most likely continue this trend in the coming years. Many manufacturing companies halted their production activities to reduce their expenses. Shortage of labor & raw materials and fear among the population regarding the spread of the virus also affected market growth in the early stages of the pandemic. Terminating the construction activities also reduced the demand for the tapes, further impacting the global market growth. However, with ease of restrictions, the market will steadily increase in the forthcoming years.

LATEST TRENDS

Request a Free sample to learn more about this report.

Increasing Demand for Building and Construction Tapes for Various Functions to Aid Market Proliferation

Such highly durable tapes offer high performance for bonding glass panels into commercial windows, doors, skylight/canopy systems, and curtain walls. Glazing is one of the emerging trends performed by many residential, industrial, and commercial construction industries. The building and construction tapes significantly value the glazing system manufacturers and the contract glazers. The tapes are highly effective in increasing productivity, creating a sustainable solution, simplifying the construction process, and improving durability, thus making them suitable for various functions. The tapes are generally used in vinyl and aluminum windows & doors and on wood windows and doors by many commercial and residential construction industries. The increasing demand for such tapes for insulating, water proofing, glazing, and speedy development from the key players is a significant market trend.

DRIVING FACTORS

Rapid Urbanization and Growing Construction Industry to Facilitate Market Augmentation

The critical factor that is driving the market growth is the rising construction industry worldwide. Continuous improvements in the economic condition in developing nations such as China, Brazil, India, and others that lead to improving the standard of living also drive the market's growth. Moreover, the rise in industrialization, changing lifestyle trends, and housing and construction development contribute to global market growth. The increasing urban population in emerging economies and the substantial development rates for infrastructure propel the demand for building and construction tapes worldwide. Additionally, using new technologies in tapes that lead to significant performance aids market growth.

Significant Benefits Offered by Building and Construction Tapes to Propel Market Expansion

Building and construction tapes can fight against harsh environments & high temperatures and can bond securely with several materials and substrates. Such tapes offer high performance and are thus gaining massive demand from the building and construction industry. Demand for these tapes worldwide for mounting, fixing, and sealing gaps in door panels or windows drives the global market growth. Furthermore, owing to their high barrier capabilities, the construction industry widely uses roofing tapes for sealing and water proofing applications, thus bolstering the market growth. These tapes are also used to fill and sheath joints in window perimeters and as air and water-resistant barriers that further aid market augmentation. The excellent insulation feature offered by the electrical tape boosts the demand in many construction industries. Furthermore, the rise in demand for such tapes in HVAC installation also contributes to the global market growth.

RESTRAINING FACTORS

Fluctuation in Raw Material Costs to Impede Market Progression

Many raw materials used in tape manufacturing are experiencing price fluctuation due to the emergence of the pandemic. Raw materials, such as polyvinyl chloride, polyethylene terephthalate, polypropylene, and polyethylene, are produced with the help of petroleum. However, the volatility in petroleum prices leads to an increase in the costs of raw materials, further affecting the building and construction tapes market growth. For instance, according to the Organization of the Petroleum Exporting Countries (OPEC), crude oil production was reduced to 7.7 million barrels/day till Dec 2020, leaving it the single most considerable reduction in the overall history. Declining crude oil demand has led to volatility in raw material costs since the occurrence of the novel coronavirus, thus hampering the market.

SEGMENTATION

By Product Type Analysis 

Double Sided Tapes Segment to Dominate the Market Growth Due to Several Potential Benefits

Based on product type, the market is segmented into double sided tapes, masking, duct, duct tapes, and others. Double-sided tapes segment holds the largest market share. The growing utilization of double-sided tapes for bonding doors, panels, and mounting of glass elements is a crucial factor for the growth of this segment. Additionally, the ability of the product to replace alternatives such as adhesives, along with the rising aesthetic importance in the building and construction sector, leads to the segment's growth. They also offer sealing & water proofing functions due to their superior barrier properties, which contribute to the development of the segment, further enhancing the global market.

By Application Analysis

To know how our report can help streamline your business, Speak to Analyst

Flooring is the Dominating Segment Due to the Use of Building and Construction Tapes for Safety Essentials

Based on application, the market is segmented into flooring, walls & ceiling, windows, doors, roofing, and others. Flooring is the dominating segment and holds the largest market share. Flooring application highly utilizes tapes to mark hazards, generate aisles, offer appropriate directions, and divide the existing spaces. It holds a wide range of applications in industrial and manufacturing facilities for floor marking. Using such tapes for flooring is gaining traction as they indicate the locations for several safety essentials, including emergency eye wash stations, decontamination showers, and fire extinguishers.

By Function Analysis

Bonding Segment Accounted for the Largest Share Owing to Benefits of the Product

Based on function, the market is segmented into bonding, protection, insulation, glazing, sound & water proofing, and others. Bonding is the leading segment of the market. Bonding is one of the primary functions of the building & construction sector, as it helps create the most robust and durable bonds. Bonding effectively replaces welds, rivets, and other fasteners that hold concentrated stress points. Such tapes are widely used as they are easy to apply, enhance speed assembly, eliminate labor hours, and decrease overall manufacturing costs.

By End Use Analysis

Residential Segment Dominates the Market Owing to Increasing Usage of Tapes

Based on end use, the market is segmented into residential, commercial, and industrial. The residential segment dominates the market. It can be attributed to the rising usage of such tapes for barrier protection and bonding in the residential sector. The tapes are also used for glazing panels & trims and binding purposes in the residential sector. Additionally, the increasing disposable income coupled with the rapid adoption of innovative products by consumers also leads to the vast growth of this segment. Moreover, changing lifestyle trends and improving living standards also positively impact the development of the residential segment.

REGIONAL INSIGHTS

To get more information on the regional analysis of this market, Request a Free sample

The market is analyzed across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Europe is the dominating region with the highest market share. The dominance can be attributed to the significant initiatives by the government bodies to provide housing facilities owing to the growing population and the presence of leading manufacturers in the region.

 North America is the fastest-growing region and is expected to attain massive growth. The rising construction industry and the continuous development of new products lead to rapid growth in this region.

Asia Pacific is experiencing a steady increase during the projected period. The increasing demand for double-sided tapes used for building applications is critical for developing this market.

The development of the commercial construction sector will offer profitable opportunities in the Latin America region. The Middle East & Africa will experience moderate demand owing to infrastructure development for economic growth.

KEY INDUSTRY PLAYERS

Key Participants in the Market Witnessing Significant Growth Opportunities

The global building and construction tapes market share is highly fragmented and competitive. Regarding market share, a few major players dominate the market by offering innovative packaging in the packaging industry. These major players in the market are constantly focusing on expanding their customer base across the regions and innovation.

Major players in the market include 3M, Intertape Polymer Group, The Dow Chemical Company, Nitto Denko Corporation, and others. Numerous other players operating in the industry are focused on delivering advanced packaging solutions.

LIST OF KEY COMPANIES PROFILED:

• 3M (U.S.)


• Intertape Polymer Group  (Canada)


• DuPont (U.S.)


• Saint-Gobain (France)


• Berry Global Inc. (U.S.)


• PPM INDUSTRIES S.P.A. (Italy)


• The Dow Chemical Company (U.S.)


• Ahlstrom Corporation (Finland)


• Nitto Denko Corp. (Japan)


• Canadian Technical Tape Ltd. (Canada)

KEY INDUSTRY DEVELOPMENTS:

• May 2022 - 3M Company declared the launch of a 3M thin film bonding tape. It is a general-purpose tape with a coating of solventless acrylic adhesive on both sides. The tape is tear-resistant and is used in furniture attachments, metal fabrication, and plastic bonding.


• May 2022 - Bostik launched the next generation of innovative adhesive solutions for woodworking. The new solutions are SG6518 and SG6520, developed under its Supergrip adhesive solutions line.


• April 2021 - Shurtape Technologies introduced a new Shurtape brand, CP 27P. The products include an easy-to-remove and multi-surface floor marking tape. The red, yellow, orange, and green tape is available and is engineered to suit various conditions and temperatures.


• May 2021 - Intertape Polymer Group Inc. launched a new flame retardant polyethylene (PE) tape named PEFR. It is a heavy-duty tape suitable for institutional buildings, laboratories, healthcare facilities, shipyards & construction sites where flame retardant materials are needed to add a critical layer of fire protection security.  


• March 2021 - Flex Seal launched Flex Tape, a significant and cost-effective waterproof tape designed to immediately patch, connect, and seal anything.

REPORT COVERAGE

An Infographic Representation of Building & Construction Tapes Market

View Full Infographic

To get information on various segments, share your queries with us

The report provides detailed market analysis and focuses on key aspects such as leading companies, competitive landscape, product/service types, porters five forces analysis, and leading applications of the product. Besides, the report offers insights into the market trends and highlights key industry developments. In addition to the above factors, the report encompasses several factors that contributed to the market's growth in recent years.

Report Scope & Segmentation