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Construction Tapes are produced synthetically from superior quality materials such as recycled rubber, pulp, aluminum foil, glass, cotton fabric and others. Building tapes are solid, robust, resistant to impact, pliable and resistant to UV. Therefore, various uses are found in the building industry. Construction Tapes are available in different thicknesses and shapes, such as masking tapes, seaming tapes, insulation tapes, pipe tapes, barricade tapes and others. Construction tapes are simple to use, have strong weather and shape long-lasting bonds with a number of substrates, including plastic, concrete, fiber and others. Construction tapes of filler improve cracks and joints.
Growing use of construction tapes for roof linings, plasterboard joints and other applications is fuelling the market for tapes. It is an excellent option for indoor tasks such as restoration, chairs, locks, windows and decorative paintings. The growth in developing economies coupled with increasing urbanization & industrialization has prompted the government to increase spending in the industry concerned to meet the growing infrastructure needs.
Key Market Driver -
The rising infrastructural development activities is driving the market.
Key Market Restraint -
High competition between the key players confines the industry growth.
However, the industry is highly competitive with multinational firms that cater to the international market and smaller competitors that cater to regional demand. The involvement of large numbers of vendors across the continents, however, would undoubtedly hinder the entrance of new entrants into the industry. Most of the industry's major players offer a wide range of building products, as opposed to offering only one type of product .This results in a pricing competition amongst the players in the market which has confined the market growth.
Based on type, the market for building & construction tapes is further segmented into double sided tapes, masking tapes, duct tapes, other tapes. Based on application, the market for building & construction tapes is further segmented into flooring, walls & ceiling, windows, doors roofing and others. Based on end use industry, the market for Building & construction tapes is further segmented into residential, commercial and industrial. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global building & construction tapes Market is fairly fragmented, with a number of global & regional players operating. Some of the key players in the building & construction tapes Market includes The Dow Chemical Company, 3M Company, Intertape Polymer Group Inc., Nitto Denko Corp., Ahlstrom Corporation, Saint-Gobain Performance Plastics Corporation, PPM INDUSTRIES S.P.A., Canadian Technical Tape Ltd., Berry Global Inc., Cintas Adhesivas Ubis, S.A. and others.
In terms of Geography, the building & construction tapes market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of both consumption and output the Asia-Pacific region dominates the building & construction tapes market. The market for construction & building tapes is expected to see increasing demand from India, China and other Asia Pacific countries. This can be attributed to the increasing activities in infrastructural development and consumer awareness. North America market is estimated to hold significant share in the global building & construction tapes market on account of restoration construction industry in the region. Growing reconstruction and rising demand for single homes in the US and Canada is expected to support revenue growth of building & construction tapes market in North America over the forecast period.
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The presence of a large number of international and local manufacturers in the Europe ,is projected to augment revenue growth of the market in the region. Latin America is seeing steady growth due to increased application for roof linings, plasterboard joints and other applications which will create significant demand for construction tapes market in this region. Middle East and Africa are expected to exhibit slow growth owing to the government's interference of tight regulations.
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