Construction Tape Market to See Excessive Growth of $4.19 billion by 2032 | CAGR of 4.60%
Research Reports
Oct 03, 2023
Construction Tape Market Size was valued at USD 2.8 Billion in 2022. The Construction Tape industry is projected to grow from USD 2.93 Billion in 2023 to USD 4.19 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.60% during the forecast period (2023 – 2032)
In the ever-evolving world of construction, precision and durability are paramount. The Construction Tape Market has emerged as a silent but essential hero in ensuring the integrity of structures. From measuring to sealing, these tapes play a pivotal role in making construction projects safer and more efficient. In this press release, we delve into the Construction Tape Market, exploring its growth, innovation, and the impact it has on the construction industry.
Market Overview
The Construction Tape Market has been on a steady rise in recent years, fueled by technological advancements and the growing need for reliable measurement and sealing solutions. These tapes come in various forms, including measuring tapes, adhesive tapes, and sealing tapes, catering to a wide spectrum of construction needs.
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Segment Analysis
The global construction tape market has been segmented based product, backing material, application, and function.
On the basis of Product, the market is segmented into Double-Sided Tapes, Masking Tapes, Duct Tapes, and Other Tapes. The double-sided tapes was attributed to holding the largest market share in 2022 due to the product’s capacity to replace alternatives, such as adhesives, and the increasing significance of aesthetics in the building and construction business.
Based on backing material, the global Construction Tape market has been segmented into Polyvinyl Chloride, Polyethylene Terephthalate, Polypropylene, Polyethylene, and Others. The polyethylene terephthalate was expected to hold the largest market share in 2022. PET backing material is appropriate for demanding construction applications because of its excellent tensile strength and durability.
On the basis of Application, the market is segmented into Flooring, Walls & Ceiling, Windows, Doors, and Others. The walls & ceiling was attributed to holding the largest market share in 2022, due to the utilization of the product for either temporary or permanent mounting, this industry is expanding.
Based on Function, the global Construction Tape market has been segmented into Bonding, Protection, Insulation, Glazing, Sound Proofing, and Cable Management. The bonding was expected to hold the largest market share in 2022, due to their adaptability, bonding tapes can be employed in a variety of building projects, which has accelerated their rate of growth.
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Regional Analysis
The global Construction Tape market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Construction Tape market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Construction Tape market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Construction Tape market comprises of Middle East, Africa, and Latin America.
The largest market share for Construction Tape was maintained by the North American regional sector. This increase is due to the national governments’ initiatives to provide housing options for the expanding population can be credited with the growth. The existence of independent organizations like INFONAVIT, PEMEX, and CONAVI is expected to promote the expansion of the local residential construction industry.
Moreover, the Europe market has been persistently growing over the forecast period, due to the region’s expanding population and the presence of top manufacturers, the government has taken great steps to offer housing facilities, which can be credited with the expansion..
Additionally, due to the rising use of foam backing material in double-sided goods, which are widely employed in numerous building applications, Asia Pacific is predicted to experience an increase in demand for the material. PVC backing material has experienced high volume growth due to its qualities, such as heat resistance and dimensional stability, which also contribute to its expanded use in the expanding construction industry in this region.
Furthermore, the rest of the world’s Construction Tape market is divided into the Middle East, Africa, and Latin America. This growth is due to the private sector’s involvement in the construction of infrastructure for economic growth. Government support, a rise in investor interest, and the viability of the technology in the sector are all contributing factors to the market expansion.
Key Players
MRFR recognizes the following companies as the key players in the global Construction Tape market— 3M, Tesa SE, Avery Dennison Corporation, Saint-Gobain, Henkel AG & Co. KGaA, DuPont, and Shurtape Technologies, LLC
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