Press release
Building And Construction Tapes Market, Share, Growth, Trends And Forecast To 2033
Building And Construction Tapes Market
The Business Research Company presents an extensive market research report on the Building And Construction Tapes Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The building and construction tapes market size has grown steadily in recent years. It will grow from $4.48 billion in 2023 to $4.69 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to construction industry growth, increased emphasis on energy efficiency, repair and maintenance activities, waterproofing applications, demand for sustainable building materials.
The building and construction tapes market size is expected to see strong growth in the next few years. It will grow to $5.72 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to green building initiatives, infrastructure development projects, rising trend of prefabricated construction, growing awareness of air and water barrier systems, residential and commercial real estate demand. Major trends in the forecast period include introduction of double-sided tapes, focus on noise damping tapes, introduction of energy-efficient insulation tapes, customization and tailored tape solutions, digitalization and smart construction tapes.
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Key Market Players:
Major companies operating in the building and construction tapes market report are Saint-Gobain Group., 3M Company, Henkel AG And Co. KGaA, Berry Global Inc., DuPont de Nemours Inc., Avery Dennison Corporation, Nitto Denko Corporation, Tesa SE, Ahlstrom Munksjo Oyj, Lohmann GmbH And Co. KG, Scapa Group PLC., Intertape Polymer Group Inc., FLEXcon Company Inc., PPM Industries S.P.A., Gaska Tape Inc., Advance Tapes International Ltd., Cantech Industries Inc., Lamatek Inc., MBK Tape Solutions, NADCO Tapes & Labels Inc., Heskins Ltd., PPI Adhesive Products (C.E.) s.r.o., Shurtape Technologies LLC., BowTape Co. Ltd., Tape-Rite Co. Inc.
Market Drivers:
The growing construction industry is expected to boost the growth of the building and construction tapes market going forward. The construction industry refers to the sector of the economy that encompasses activities related to the planning, design, construction, and maintenance of structures, buildings, infrastructure, and other physical projects. Building and construction tapes are commonly used in the construction industry for a variety of purposes, such as temporary repairs, surface protection, sealing and waterproofing, insulation, and securing and fastening. For instance, in May 2023, according to a report shared by the United States Census Bureau, a US-based government agency, construction spending increased from $1,768.2 billion in March 2022 to $1,834.7 billion in March 2023, a 3.8% increase in construction spending. Further, in February 2022, according to a report published by the Office for National Statistics, a UK-based government agency, the annual construction sector in the UK rose by a record 12.7% in 2021 compared to the previous year. Therefore, the growing construction industry is driving the growth of the building and construction tapes market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/building-and-construction-tapes-global-market-report
The building and construction tapes market covered in this report is segmented -
1) By Product: Double-Sided Tapes, Masking Tapes, Duct Tapes, Other Products
2) By Backing Material: Polyvinyl Chloride (PVC), Polyethylene Terephthalate, Polypropylene, Foil, Polyethylene, Foam, Paper, Other Backing Materials
3) By Function: Bonding, Protection, Insulation, Glazing, Sound Proofing, Cable Management
4) By Application: Doors, Flooring, Roofing, Walls And Ceilings, Windows, Building Envelope, Plumbing, HVAC (Heating, Ventilation, And Air Conditioning), Electrical
5) By End Use: Commercial, Residential, Industrial
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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