DUBLIN, Feb. 9, 2024 /PRNewswire/ — The “Building and Construction Tapes Market – Forecasts from 2023 to 2028” report has been added to ResearchAndMarkets.com’s offering.
The building and construction tapes market is estimated to grow at a CAGR of 5.87% during the forecast period.
Building and construction tapes cater to various applications, such as sealing, insulation, bonding, and mounting, providing essential solutions for construction, renovation, and repair projects. With increasing construction activities, the growing emphasis on energy-efficient building practices, and the need for reliable and durable bonding materials, the building and construction tapes market is witnessing steady growth as it continues to address the diverse needs of the construction industry.
The construction industry’s expansion, driven by urbanization and infrastructure development, has fueled the demand for adhesive tapes in various applications, including sealing, insulation, and bonding. Moreover, the increasing emphasis on sustainable and energy-efficient building practices has boosted the adoption of specialized tapes for weatherproofing and thermal insulation.
Key Market Drivers:
- Growing Construction Industry: The building and construction industry’s steady growth, fueled by population growth, urbanization, and infrastructure development, is a primary driver for building and construction tapes. As construction projects increase, so does the demand for tapes in various applications such as sealing, bonding, and insulation.
- Energy-Efficient Building Practices: The rising awareness of energy efficiency and sustainability in construction has led to increased demand for tapes that provide weatherproofing and thermal insulation solutions. Building and construction tapes contribute to energy-efficient building practices by minimizing air leaks and maintaining stable indoor temperatures.
- Sustainability and Eco-Friendly Solutions: Consumers and regulatory bodies are increasingly prioritizing sustainable building practices. As a result, manufacturers are developing eco-friendly and recyclable tapes to align with green building initiatives, enhancing the market’s growth.
- Ease of Use and Efficiency: Building and construction tapes offer a user-friendly alternative to traditional construction methods. Their ease of application and time-saving properties make them popular among contractors and DIY enthusiasts, contributing to improved project efficiency.
- Advancements in Tape Technology: Manufacturers are continuously investing in research and development to enhance tape formulations. Improved adhesion, weather resistance, and durability make tapes more reliable and suitable for a wide range of construction applications, further driving their demand.
- Rise in DIY Renovation Projects: The increasing trend of do-it-yourself (DIY) renovation and repair projects among homeowners has bolstered the demand for building and construction tapes. DIY enthusiasts seek user-friendly tapes that offer effective bonding and sealing solutions for their projects.
- Strong Demand for Waterproofing Tapes: Waterproofing is a crucial aspect of construction to prevent water infiltration and moisture-related damage. Waterproofing tapes cater to this need, making them indispensable in both residential and commercial construction projects.
- Infrastructure Development Initiatives: Government investments in infrastructure development projects worldwide create a steady demand for building and construction tapes. These tapes are essential for structural integrity, safety, and protection in large-scale construction initiatives.
- Building Renovations and Retrofits: The need for renovation and retrofitting of existing structures drives the demand for tapes that provide effective solutions for repair and improvement works. Tapes play a vital role in enhancing the longevity and performance of renovated buildings.
- Emphasis on Safety Measures: The construction industry places significant importance on safety measures. Building and construction tapes are used for floor marking, anti-slip applications, and hazard warnings, contributing to a safer working environment and promoting safety compliance.
Positive growth in the energy-efficient building solutions segment:
The segment of the building and construction tapes market that is experiencing significant growth is the energy-efficient building solutions segment. This growth can be attributed to increasing awareness of sustainable and eco-friendly building practices, along with stringent regulations focused on energy efficiency in construction. Energy-efficient building tapes, such as weatherproofing and thermal insulation tapes, are in high demand as they help improve a building’s energy performance, reduce energy consumption, and contribute to green building certifications. Additionally, the rising emphasis on reducing carbon footprints and energy costs has further accelerated the adoption of energy-efficient tapes in construction projects worldwide.
The North American region is expected to hold a significant share:
North America is expected to dominate the building and construction tapes market share. This dominance can be attributed to several factors, including a robust construction industry, significant infrastructure development, and a strong focus on energy-efficient building practices in the region. Additionally, stringent building codes and regulations related to safety and sustainability drive the demand for high-quality tapes for sealing, insulation, and weatherproofing applications. North America’s large-scale commercial and residential construction projects contribute to the region’s prominence in the building and construction tapes market.
Key Segment Analysis:
By Product Type
- Double Sided Tapes
- Masking Tapes
- Duct Tapes
- Walls and Ceiling
- Sound and Water Proofing
- Intertape Polymer Group
- Shurtape Technologies
- Berry Global Inc.
- PPM Industries
- Nitto Denko
For more information about this report visit https://www.researchandmarkets.com/r/r4gwe8
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SOURCE Research and Markets