Construction Tape Market
Construction Tape Market (Product Type: Masking Tape, Duct Tape, High Temperature Polyester Tape, High Temperature Polyimide Tape, Aluminum Tape, and Others; Distribution Channel: Direct Sales and Distributers/Wholesalers; and Application: Construction, Sports & Recreation, Yachts Builders, and Others) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030
Flexible Production Helps Keep Economies Running amidst COVID-19 Crisis
The coronavirus (COVID-19) pandemic has unleashed an unprecedented calamity across the world. Its repercussions are being felt in the global construction industry. The International Monetary Fund (IMF) projects that the real gross domestic product (GDP) will shrink at a significant rate worldwide. This is anticipated to impact the growth of the construction tape market. As such, the U.S. construction industry is projected to witness mass layoffs due to coronavirus restrictions.
China’s economy is in a revival mode, since the pandemic has drastically subsided. However, the pandemic has led to the volatility in the demand and supply of products for the construction sector. Hence, companies in the construction tape market are preparing for future uncertainty. They are becoming more flexible in their production and business activities. Manufacturers are resorting to digitalization of processes due to travel and international trade restrictions.
Request a sample to get extensive insights into the Construction Tape Market
High Performance Masking Tapes Cater to Extensive Construction Work Projects
Duct tapes and masking tapes have become customary in construction applications. However, tape manufacturers are increasing efforts to overcome their drawbacks. For instance, duct tape is used for emergency leak repairs. However, the same tape loses its adhesive strength in sealing or repairing of heating and ventilation ducts. Similarly, even masking tapes leave a sticky residue on surfaces, and need to be removed within a short span of hours to come off cleanly. In order to overcome these challenges, manufacturers in the construction tape market are increasing their R&D efforts to develop high performance tapes such as the high temperature polyester option to provide alternative solutions to end users.
Companies in the construction tape market are innovating in masking tapes that cater to a wide range of indoor and outdoor applications. For instance, in December 2019, Ciret Ltd.— a manufacturer of high quality tools for the painting and decorating industry, has announced the launch of their innovative masking tape, which is suitable for extensive construction work projects.
High Bonding Duct Tapes Acquiring Prominence in Electrical Applications
Waterproof PE (polyethylene)-coated fabric transparent duct tapes are in high demand for construction applications. Ajit Industries— a provider of pressure sensitive self-adhesive solutions has gained efficacy in manufacturing waterproof PE-coated fabric transparent duct tapes that are backed by high tack property, along with hand tearable feature. Heavy-duty materials such as long-lasting adhesives and fabrics in duct tapes are acquiring prominence in electrical applications and repairing uses.
Manufacturers in the construction tape market are increasing their production capabilities in high bonding duct tapes that are being increasingly used in heavy duty seaming and sealing applications such as for air conditioning (AC) ducting. Companies in the construction tape market are increasing the availability of high strength and waterproof duct tapes that deploy high holding power across different temperature ranges.
To understand how our report can bring difference to your business strategy, Ask for a brochure
High-end Adhesive Tapes Deliver Design Freedom in Glassing Structures
The construction sector is challenged with tight cost estimates, evolving design trends and innovative building materials. Lohmann— a manufacturer of adhesive tape systems and adhesive solutions is increasing efforts to identify these challenges and offers construction tapes that offer numerous advantages for roof, windows, façade, and interior applications. Companies in the construction tape market are manufacturing high-end adhesive tapes that deliver immediate bonding and are user-friendly in nature.
High-end construction tapes are deploying improved energy efficiency in building applications. Manufacturers are increasing the availability of tapes that provide greater design freedom in construction applications. They are targeting the use of construction tapes for high-tech glassing structures. Such applications are bolstering the growth of the market for construction tapes, which is projected to expand by ~1.3x of current market value with a CAGR of 4% during the assessment period.
Advanced Material Technology Helps in Development of Self Adhesive Tape Solutions
Companies in the construction tape market are increasingly manufacturing indoor and outdoor vapor barrier tapes. They are focusing on R&D capabilities in advanced material technology to innovate in high-end adhesive tapes. For instance, Scapa Industrial— a provider of technical adhesive solutions, is increasing efforts to source specific raw materials to innovate in adhesive tape products. High performance construction tapes are improving productivity levels in work projects. Manufacturers in the construction tape market are catering to the demand of builders, civil engineers, and contractors to provide class-leading self-adhesive tape solutions.
Apart from electrical and glassing systems, tape manufacturers are unlocking value grab opportunities in air, dust, and moisture management applications. Flooring, environmental restoration, and signage are other revenue generating avenues. Wall claddings and plaster profile bonding applications are fueling the demand for construction tapes.
Innovative Bonding Technologies Aid in Cost-efficiency and Design Capabilities in Construction Applications
High temperature polyester tapes are being made with silicone materials for masking applications. These tapes are gaining prominence in powder coating applications. Apart from construction and buildings, manufacturers in the construction tape market are tapping into business opportunities in sports and recreational activities for caution and safety purposes. For instance, Cardinal Tapes, a manufacturer in Wuppertal, Germany, is exploring revenue opportunities in innovative applications such as film production and processing, metal finishing, event technology, etc.
Yacht builders and trade fair end users are triggering the demand for high end adhesive tapes. Innovative adhesive technologies are bolstering growth of the construction tape market. For instance, tesa SE— a German provider of adhesive tape solutions, has innovated in its slimline bonding technology for adhesive tapes that help users in the construction industry to achieve cost efficiency and increased design freedom.
Stuck in a neck-to-neck competition with other brands? Request a custom report on Construction Tape Market
Investments in R&D and operational excellence are the key to tide over uncertainties stemming from the COVID-19 pandemic. Manufacturers in the construction tape market are tapping incremental opportunities in the automotive and aluminum production sectors. However, conventional bonding technologies in duct and masking tapes are prone to peeling of the paint when removed from surfaces and limitations in high temperature applications. Hence, manufacturers should increase their R&D in advanced bonding and material technologies to meet the demanding applications of end users. Companies should establish steady supply chain routes with end users in the technical textiles, medical, and consumer goods industries to expand their revenue streams.
Construction Tape Market: Overview
- According to Transparency Market Research’s latest report on the global construction tape market for the forecast period of 2020-2028, the market is estimated to be driven by rising popularity of adhesive tapes in the building & construction sector, owing to its superior performance characteristics in both indoor and outdoor applications
- The global construction tape market is expected to expand by ~1.3x of current market value with a CAGR of 4% during forecast period
Superior Durability and Ease of Applicability to Propel Demand for Construction Tape
- Several adhesive tapes such as masking tapes, duct tapes, aluminum tapes, and others are gaining significant traction in the building & construction industry for applications such as masking and bundling. It is also witnessed that end user preference for construction tapes is consistently increasing from the past three years, owing to the benefit of quality adhesion for sealing and fixing applications. These adhesive tapes have massive demand in the global market, as these tapes offers excellent mechanical strength in terms of durability, moisture, and thermal resistance.
- Furthermore, these tapes can sustain in both indoor and outdoor applications, especially in construction industry that makes these adhesive tapes popular among industry players. Additionally, the demand for masking, aluminum, duct, polyimide, polyester, and other adhesive tapes in the building & construction industry is touching new heights, as they can be used on paper, glass, wood, metal, plastic, and other sensitive surfaces. Rising adoption of these adhesive tapes for light and heavy-duty applications across globe is expected to escalate the growth of the construction tape market during the forecast period.
Pricing Affordability Coupled with Convenience Usage to Supplement Sales
- Construction tapes, including masking, paint masking, duct, double sided, aluminum, and others are most economical, convenient to use, and proficient solution for indoor and outdoor construction activities. Availability of low as well as high tacking construction tape in the market has made it an ideal solution for construction activities such as renovation, furniture, door, window, and decorative painting. In order to meet the demand of the building & construction industry for a wide range of application, adhesive tapes manufacturers have designed a multifaceted assortment. The convenient and affordable pricing of construction tapes, with availability of single-sided and double-sided adhesive tapes are attracting both leading and small-scale manufactures operating in the global building & construction industry.
Usage of Construction Tape for High Performance and Temperature Applications Offers Lucrative Growth Avenues
- Construction tapes have been widely used across high performance and temperature applications in the construction sector. These high temperature construction tapes provide good performance and durability over a wide range of environmental conditions and a spectrum of temperatures. High temperature adhesive tapes are consistently used in the construction industry for several critical application where high performance is required. Moreover, high temperature adhesive tapes quickly sticks with most of the surfaces, which widen its applicability. The ability of these construction tapes to withstand over longer duration in high temperatures ultimately fuels its demand among market players. Rising demand for such high temperature adhesive tapes in the construction industry is creating ample amount of opportunities for tape manufacturers to maximize their sales and profitability margins as well.
Construction Tape Market: Key Findings
- As per product type, the masking construction tape segment is expected to lead the overall construction tape market and estimated to capture more than 45% of the value share in 2020. Owing to its ability to provide paint jobs with utmost precision even at the sharp edges, masking construction tape segment will continue to lead the global construction tape market during the forecast period.
- TMR witnessed that direct sales is the preferred distribution channel by the manufacturers for selling construction tapes locally and internationally. By the end of 2028, direct sales segment is expected to capture nearly 53% of the market share.
- Despite being a matured market, substantial portion of the construction tape market is captured by Europe and North America regions. These regions account for a significant usage of construction tapes, and is expected to remain major users of construction tape by the end of 2028. However, the prominent Asia Pacific region is anticipated to hold major portion of market share and offer total incremental opportunity of ~US$ 415 Mn over the next eight years. Rising construction activities and infrastructure development in Asian countries are anticipated to strengthen the construction tape market growth.
Construction Tape Market: Competition Landscape
- TMR analysed that the global construction tape market is highly competitive, owing to start-ups and entry of local players. This completion among key players is carefully studied based on developments, strategies, and segmental revenue of the company over the past five years.
- The recent study of construction tape market includes profiles of players such as
- 3M Company
- tesa SE Group
- Shurtape Technologies, LLC
- Scapa Group plc
- Nitto Denko Corporation
- Pro Tapes & Specialties, Inc
- MBK Tape Solutions
- Saint-Gobain Performance Plastic Corporation
- Berry Global Inc
- Intertape Polymer Group, etc.
- TMR differentiated these market players as Tier 1, Tier 2 and Tier 3 as per their segmental earnings. Among these players, 3M Company and Berry Global are identified as Tier 1 players in global construction tape market. The Tier 2 players are tesa SE Group, Nitto Denko Corporation and Intertape Polymer Group. Tier 3 market players are Scapa Group plc, Saint-Gobain Group, Shurtape Technologies, LLC, Pro Tapes & Specialties, Inc, and MBK Tape Solutions, among others.
Suspension of Construction Activities Due to COVID-19 Restricts Market Growth
- Rapid spread of the novel COVID-19 pandemic has disrupted the supply chain of manufacturing industries globally impacting the building & construction industry as well. Suspension and discontinuation of construction activities, owing to the novel COVID-19 pandemic across globe have slowed down the overall market growth of the global building & construction industry.
- Moreover, shortage of raw materials, large scale manufacturing interruptions, absence of employees and workers on construction sites, and continuously changing financial conditions and tariffs induce adverse impact on supply and demand for construction tapes worldwide. However, as several governments across the globe are uplifting the lockdown with new measures and granting permission to the construction activities, the demand for construction tape is anticipated to back on track in the beginning of 2021.
Construction Tape Market – Scope of the Report
Transparency Market Research (TMR) started a new study on the global construction tape market, providing forecast for the period of 2020-2028. In the study, growth opportunity for the construction tape market is witnessed. The report provides valuable insights, which enable readers to make winning business decisions for future growth of their businesses. The report highlights significant factors that are constantly determining the growth of the construction tape market, untapped opportunities for manufacturers, trends and developments, and other insights across various key segments. Macroeconomic factors that are directly or indirectly affecting market growth are also incorporated in the report.
Key Questions Answered in TMR’s Construction Tape Market Report
- What will be market size for construction tape by the end of 2028?
- What will be the impact of COVID 19 on construction tape market?
- Which is the most preferred distribution channel for selling construction tape in the global market?
- Which region will remain most lucrative for market growth?
- Which application holds maximum market share in the global construction tape market?
- Who are major key players in the construction tape market?
Key indicators associated with the construction tape market have been calculated thoroughly in the report. The study enumerates vital market dynamics such as key drivers, challenges, and trends, along with opportunities in the global construction tape market. A comprehensive study on the value chain, which includes component suppliers, manufacturers, distributors, and end users have been incorporated in the global market report. Other key aspects laid down in the market include pricing strategy of leading market players and comparative analysis of construction tape. Furthermore, forecast factors and forecast scenarios of the construction tape market have been covered in the report to understand future prospects of the market.
A comprehensive evaluation and forecast on the construction tape market are provided on the product type, distribution channel, application, and region.
Y-o-Y growth comparison, volume and revenue comparison, and market share comparison of various market segments are provided in the report. The construction tape market is analyzed at both regional and country levels.
The report delivers an exhaustive assessment on the structure of the construction tape market, in tandem with a dashboard view of all leading company profiles in the report. Every company’s share analysis on market players have also been presented in the report, apart from the footprint matrix of profiled market players. The report depicts the presence of construction tape manufacturers by leveraging an intensity map. It also highlights key applications for construction tape.
The report includes company overview of key players. Some of the key companies profiled in the construction tape market report include 3M Company, tesa SE Group, Intertape Polymer Group, Berry Global Inc, Shurtape Technologies, LLC, Saint-Gobain Performance Plastic Corporation, Scapa Group plc., Nitto Denko Corporation, Pro Tapes & Specialties, Inc, and MBK Tape Solutions, among others.
A realistic methodology, along with a holistic approach makes the base for sharp insights, which are provided in the construction tape market for the study evaluation period. The TMR report comprises of detailed information on growth prospects, along with riveting insights into the forecast assessment of the market.
Extensive primary and secondary researches have been employed to garner keen insights into the forecast study of the construction tape market. The report has further undergone a cross-validation by in-house professionals to make the construction tape market report one-of-its-kind with the highest credibility.
Construction Tape Market – Segmentation
The global construction tape market has been divided on the basis of product type, distribution channel, application, and region. Each of these segments is analyzed to provide readers with a holistic view of the market.