Building and Construction Tapes Market

Building and Construction Tapes Market Size:

The global building and construction tapes market size reached US$ 4.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 6.1 Billion by 2032, exhibiting a growth rate (CAGR) of 4.05% during 2024-2032. The significant growth in the construction industry, implementation of strict government regulations, extensive research and development (R&D) activities, and emerging do-it-yourself (DIY) trends are some of the major factors propelling the market.

Building and Construction Tapes Market Analysis:

• Major Market Drivers: The booming construction industry, with increasing infrastructure projects and residential developments globally, represents the major driver of the market growth. The demand for high-performance tapes including those used for insulation, ceiling, and surface protection is rising due to the need for improved building standards and energy efficiency.
• Key Market Trends: The widespread adoption of eco-friendly and recyclable materials driven by heightened environmental awareness represents the key trend of the market. There is also an increasing preference for multifunctional tapes that offer enhanced performance in various applications including waterproofing and thermal insulation.
• Geographical Trends: According to the building and construction tapes market overview, Asia Pacific accounts for the largest region in the market. Rapid urbanization, extensive infrastructure development, and increasing number of residential and commercial construction projects are driving the market growth in the region. Economic growth and rising construction standards boost demand for high-performance tapes for sealing, insulation, and surface protection further.
• Competitive Landscape: Some of the major market players in the building and construction tapes industry include 3M Company, Avery Dennison Corporation, Berry Global Inc, Bostik SA (Arkema), DuPont de Nemours Inc., Henkel AG & Co. KGaA, Nitto Denko Corporation, Saint-Gobain Corporation, Scapa Group Plc., Shurtape Technologies LLC, Tesa SE, among many others.
• Challenges and Opportunities: The market faces several challenges such as fluctuating raw material prices and strict regulatory standards, which can impact production costs and product compliance. However, the market also faces various opportunities including the increasing demand for advanced multifunctional and eco-friendly tapes driven by sustainable construction practices.
   

Building and Construction Tapes Market Trends:

Significant Growth in the Construction Industry

The construction industry is experiencing significant growth owing to rapid urbanization and industrialization activities. This expansion is fueling the demand for building and construction tapes that are widely used in residential and commercial buildings, hospitals, retail stores, hotels, restaurants, warehouses, factories, industrial facilities, and manufacturing plants for sealing, bonding, reinforcing, repairing, marking, delineating, insulating, protecting, and masking applications. According to industry reports, the construction GVA in India is expected to grow by 8.5%-9% in FY2024e, in the backdrop of the Government’s thrust on infrastructure activity. It witnessed a YoY growth of 13.3% in Q2 FY2024 (compared to a 7.9% YoY growth in Q1 FY2024), driven by a healthy execution pace and moderation in raw material prices. Despite moderation in growth from the FY2023 level (+10% YoY), it remains higher than the long-term annualized growth of 5.3% during the FY2012-FY2023 period.

Extensive Research and Development (R&D) Activities

The utilization of smart pressure-sensitive adhesives for building and construction tapes that offer high-temperature resistance, strong sealing performance, easy removability, and excellent adhesion on a wide range of surfaces, such as tiles, composites, vinyl, bitumen, latex, and non-woven fabric is supporting the market growth. In recent years, the manufacturers of building and construction tapes have been heavily investing in advanced tape technologies that provide better adhesion, durability, performance, and weather resistance. For instance, in March 2023, IRPLAST implemented its green portfolio of products and solutions for a competitive edge. IRPLAST NOPP (Natural Oriented Polypropylene) TAPE is a new generation of high-performing and eco-friendly adhesive tapes, manufactured with 50% recycled materials.

Emerging Do-It-Yourself (DIY) Trends

Building and construction tapes are widely used in DIY projects, as they offer convenience, versatility, and ease of use for a wide range of home improvement and renovation applications, such as quick repair and fixes, sealing gaps, mending broken items, fixing pipes, insulating surfaces, patching holes, and protecting areas during painting works. According to LIRA, homeowners spent $463 billion on renovations in the first quarter of 2024. Americans spent a sizable chunk of change on home renovations in 2023, more so than a year prior. The median spending on home renovations totaled $24,000, a 60% increase from 2020, as per the Houzz study. However, homeowners in the top 90th percentile spent a median of $150,000, a 77% increase from 2022. Indeed, over half of homeowners spent $25,000 or more on renovations in 2023, up 14 percentage points from 2020. Kitchens remain the most renovated rooms (29%), with guest bathrooms (27%), primary bathrooms (25%), and living rooms following as the most preferred areas for renovation (21%).

Building and Construction Tapes Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on product, material type, application, and end user.

Breakup by Product:

• Double-Sided Tapes
• Masking Tapes
• Duct Tapes
• Others
   

Double-Sided Tapes accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the building and construction tapes market based on the product. This includes double-sided tapes, masking tapes, duct tapes, and others. According to the building and construction tapes market report, double-sided tapes represented the largest market segment.

Double-sided tapes have adhesive coatings on both sides, which allows them to create a strong and reliable bond between objects or surfaces. They are also cost-effective, versatile, and offer clean aesthetics, ease of application, enhanced bonding strength, and damage-free removal. In line with this, double-sided tapes are widely used for mounting objects and displays, securing lightweight panels, attaching artwork to windows and walls, and creating a durable bond between glasses, wood, metals, and plastics.

Breakup by Material Type:

• Polyvinyl Chloride
• Polyethylene Terephthalate
• Polypropylene
• Polyethylene
• Foil
• Paper
• Foam
   

Polyethylene holds the largest share of the industry

The report has provided a detailed breakup and analysis of the building and construction tapes market based on the material type. This includes polyvinyl chloride, polyethylene terephthalate, polypropylene, polyethylene, foil, paper, and foam. According to the report, polyethylene represented the largest market segment.

Polyethylene is widely used as a raw material in the manufacturing of building and construction tapes due to its high flexibility, good conformity, low coefficient of friction, and excellent adhesive compatibility, which provides reliable bonding and improves surface finish. It is also cost-effective and resistant to environmental factors, which enhances its longevity and ensures strong bonding for an extended period.

Breakup by Application:

• Doors
• Flooring
• Roofing
• Walls and Ceilings
• Windows
• Others
   

Windows represents the leading market segment 

The report has provided a detailed breakup and analysis of the building and construction tapes market based on the application. This includes doors, flooring, roofing, walls and ceilings, windows, and others. According to the report, windows represented the largest market segment.

Building and construction tapes are designed to be compatible with various window materials, including wood, vinyl, aluminum, and fiberglass. Furthermore, they are applied to the gaps and joints between the window frame and the surrounding structure to create an airtight and watertight seal that prevents moisture intrusion and minimizes drafts and water penetration. Apart from this, building and construction tapes offer insulation properties, which aid in creating a thermal barrier, thus reducing heat transfer from window assembly. Moreover, they contribute to noise insulation by reducing the transmission of outside sounds into the insides of the building. Additionally, applying building and construction tapes on windows aid in creating a hospitable environment, improving comfort, promoting energy efficiency, and contributing to lower heating and cooling costs.

Breakup by End User:

• Commercial
• Residential
• Industrial
   

Residential exhibits a clear dominance in the market 

The report has provided a detailed breakup and analysis of the building and construction tapes market based on the end user. This includes commercial, residential, and industrial. According to the report, residential represented the largest market segment.

The significant growth in the residential segment can be attributed to the growing demand for building and construction tapes for window and door sealing, installation of insulating materials, and roofing applications. In addition to this, the emerging do-it-yourself (DIY) trend among consumers to carry out repair and maintenance of households without any professional assistance is acting as another growth-inducing factor.

Breakup by Region:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Asia Pacific leads the market, accounting for the largest building and construction tapes market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific represents the largest regional market for building and construction tapes.

The market in Asia Pacific is driven by rapid urbanization, increased infrastructure projects, and growing demand for residential and commercial spaces. According to the Australian Bureau of Statistics, the value of total construction work done rose 0.1% in the June quarter, in seasonally adjusted terms. The increase was driven by engineering work, which rose 0.5% in the June quarter and is 4.8% higher than the same time last year. The rise in green building practices and energy-efficient construction materials boosts the demand for high-performance tapes. Government initiatives supporting infrastructure development and the expansion of the construction sector in emerging economies like China and India also contribute. Additionally, advancements in adhesive technology and the rising need for durable, weather-resistant tapes further propel the market growth.

Competitive Landscape:

• The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the building and construction tapes industry include 3M Company, Avery Dennison Corporation, Berry Global Inc, Bostik SA (Arkema), DuPont de Nemours Inc., Henkel AG & Co. KGaA, Nitto Denko Corporation, Saint-Gobain Corporation, Scapa Group Plc., Shurtape Technologies LLC, and Tesa SE.
  
  (Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
   
• The market is experiencing steady growth owing to the increasing infrastructural development activities across the globe. Furthermore, several key players in the market are focusing on product innovation and development to expand their portfolios, attract new customers, and gain a competitive advantage. The increasing strategic collaborations and partnerships between top companies, architectures, and contractors to expand distribution channels, increase brand visibility, and improve sales are positively influencing the market growth. Moreover, aggressive branding and marketing campaigns by manufacturers through social media, paid advertisements, and television (TV) commercials are acting as another growth-inducing factor. For instance, in February 2024, Avery Dennison Performance Tapes introduced a new portfolio of pressure-sensitive-adhesive (PSA) tape solutions for the appliance industry. The portfolio features a breadth of tapes engineered to further ease of use and assembly, enhance product durability, and improve noise/vibration/harshness (NVH) damping qualities for commercial and residential appliances.

Building and Construction Tapes Market News:

• In March 2023, Avery Dennison Corporation unveiled its new lineup of performance tapes that feature a two-year warranty and contain low levels of volatile organic compounds (VOCs) making them suitable for indoor applications.
• In May 2023, Henkel AG & Co. KGaA opened an adhesive technologies center in Bridgewater, US. This center will provide analytical and rheology support and will address the growing demand of various markets, such as flexible packaging, pressure-sensitive tapes, engineered wood, and construction.

Building and Construction Tapes Market Report Scope:

Key Questions Answered in This Report:

• How has the global building and construction tapes market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global building and construction tapes market?
• What is the impact of each driver, restraint, and opportunity on the global building and construction tapes market?
• What are the key regional markets?
• Which countries represent the most attractive building and construction tapes market?
• What is the breakup of the market based on the product?
• Which is the most attractive product in the building and construction tapes market?
• What is the breakup of the market based on the material type?
• Which is the most attractive material type in the building and construction tapes market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the building and construction tapes market?
• What is the breakup of the market based on the end user?
• Which is the most attractive end user in the building and construction tapes market?
• What is the competitive structure of the market?
• Who are the key players/companies in the global building and construction tapes market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the building and construction tapes market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global building and construction tapes market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the building and construction tapes industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.