The global building and construction tapes market size is anticipated to reach USD 6.13 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to exhibit a CAGR of 4.5% during the forecast period. Increasing penetration of eco-friendly bonding solutions in North America and Europe is projected to have a positive impact on market growth.
The changing consumer trends regarding masking tape usage in the construction industry owing to its properties, such as improved moisture resistance, instant adhesion, and better conformability is likely to complement growth. In addition, properties, such as easy repair and maintenance are expected to propel the product demand.
The use of adhesive tapes in building and construction industry is regulated by national level agencies across Europe and North America. The advanced products are used in the regions comply with requirements listed by contractors and building engineers. In addition, companies in the market are involved in the production of advanced tape solutions to provide advanced products with increased functionality.
Major players, such as 3M and tesa SE are involved in manufacturing improved quality adhesive tapes exhibiting superior bond strength and resistance to wear and tear. In addition, changing preference of manufacturers for supplying products in regions characterized by instability in the business environment is likely to augment the building and construction tapes market growth.
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https://www.grandviewresearch.com/industry-analysis/building-construction-tapes-market
Further key findings from the report suggest:
- Demand for double-sided tapes is estimated to reach USD 2.29 billion by 2027, on account of increasing product demand in the bonding of trims and window attachments in North America and Europe
- Foam-backed tape is expected to expand at a CAGR of 5.3% in terms of revenue from 2020 to 2027, owing to its increasing penetration as a backing material in adhesive tapes for doors and windows with a property of a thick surface application
- The use of tapes for bonding accounted for 22.6% of the global revenue share on account of increasing adoption of decorative and temporary bonding in commercial and industrial application
- Duct tape is estimated to witness a CAGR of 3.3% in terms of revenue from 2020 to 2027 in Germany on account of its increasing demand for protection of HVAC components
- Major market players operate through third-party distribution channels, wherein the distributors supply products manufactured the company, thereby increasing their geographic presence
- Key Players include in the building and construction tapes market are 3M, Tesa SE, Avery Dennison Corporation, Saint-Gobain, Henkel AG & Co. KGaA, DuPont, and Shurtape Technologies, LLC.
