CHICAGO, Jan. 15, 2024 /PRNewswire/ — The report “Construction Adhesive Tapes Market by Technology, Resin Type, Application, End-Use Industry (Non-Residential, Residential), and Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) – Global Forecast to 2028″, size is expected to witness a CAGR of 5.7% and is USD 2.7 billion in 2023 and is estimated to reach USD 3.6 billion by 2028. The activities related to building and construction are still a major driving force behind this increased demand. Due to their many uses, these adhesive tapes are becoming more and more important in a variety of building tasks.
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485 – Tables62 – Figures344 – Pages
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Solvent-based technology segment to have the largest market share in construction adhesive tapes market, in terms of value and volume.
The market for construction adhesive tapes is expected to be dominated by solvent-based technology over the estimated period. This technology—also known as oil-based or alkyd adhesives—heavily depends on solvent concentrations that are greater. With this procedure, solvents that evaporate during the drying process are used to manufacture adhesives, which are then primarily recycled back into the production cycle. Toluene, heptane, acetone, n-butyl acetate, methyl ethyl ketone, methylene chloride, naphtha, and mineral spirits are often used solvents in the production of these adhesives.
Rubber resin type to be the second-fastest-growing segment during the forecasted period
The market for construction adhesive tapes is expected to develop at the second-fastest rate for rubber resin types. These tapes, which are made of natural and synthetic rubber, are known for their strong peel strength and robust tackiness. This is because they are good at sticking to low-energy, non-polar surfaces like polyethylene and polypropylene. Moreover, compared to many acrylic-based alternatives, rubber-based construction adhesive tapes typically offer a more affordable solution. In particular, extremely flexible rubber-based tapes provide excellent peel strength, a versatile formulation, and excellent thermal and electrical insulation qualities.
HVAC & Insulation to be the fastest-growing application segment in the global construction adhesive tapes market in terms of value
The market for construction adhesive tapes in insulation and HVAC (heating, ventilation, and air conditioning) applications is expanding significantly and growing at a phenomenal CAGR (compound annual growth rate). These tapes are essential for insulation and HVAC systems because they offer effective bonding and sealing solutions that are needed for these kinds of applications. The usage of adhesive tapes in HVAC ducting, insulation installations, and sealing applications has increased due to the focus on energy efficiency and temperature management in buildings. These tapes have outstanding surface adhesion, which guarantees airtight sealing, stops heat leaks, and improves the overall efficacy of insulation. They also demonstrate resistance to temperature fluctuations, offering long-term performance and endurance in these crucial applications. The market for construction adhesive tapes in HVAC and insulation applications is expected to sustain a strong growth trajectory, emphasizing their crucial role in these sectors, as the building industry continues to prioritize sustainability and energy efficiency.
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Residential to be the largest end-use industry segment in the global construction adhesive tapes market in terms of value and volume
The market for construction adhesive tapes is primarily driven by the residential end-use sector. The increased demand in this industry is a result of its complex requirements, which include new building, maintenance, and refurbishment. Adhesive construction tapes are widely used in residential settings, where they are essential for several activities including wall coverings, flooring installations, tiling, thermal insulation, and many more construction uses. Because of their dependability and adaptability, they are now considered essential instruments in the field of residential construction. The global expansion of housing markets and ongoing urbanization have resulted in a significant increase in demand for construction adhesive tapes, particularly from the residential sector. This highlights the tape’s vital role and consistent demand in this market.
India to be the fastest-growing country in the construction adhesive tapes market during the forecast period
In terms of compound annual growth rate (CAGR), India is expected to lead the nation-level construction adhesive tape market. The Asia Pacific market is expected to be greatly impacted by this rapid growth. India’s construction industry is growing at a steady rate due to factors like urbanization, infrastructure development, and rising building project investments. India’s rapidly growing market is reflected in the rising demand for construction adhesive tapes as the country’s construction industry grows. The greater Asia Pacific regional market’s dynamics are greatly impacted by this spike in demand, which also significantly accelerates the market’s overall growth trajectory. Asia Pacific’s status as a crucial center for the production and consumption of construction adhesive tapes is set to be further cemented with the rise of India as a major market player. This will also cause a noticeable shift in the dynamics of the industry.
Key Players
Prominent companies in the construction adhesive tapes market include 3M (US), Nitto Denko Corporation (Japan), Tesa SE (Germany), Scapa Group Ltd (UK), Intertape Polymer Group (Canada), Beery Global Inc. (US), Nichiban Co., Ltd. (Japan), and Sika AG (Switzerland).
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