Press release
Emerging Growth Trends Driving Expansion in the Waterproof Tapes Market
Waterproof Tapes Market
Waterproof Tapes Market Size and Expected Growth by 2030
The market for waterproof tapes is projected to experience significant expansion, reaching a valuation of $21.99 billion by 2030. This growth will occur at a compound annual growth rate (CAGR) of 6.9%. Several factors contribute to this upward trajectory, including increased investments in infrastructure upkeep, a rising need for durable waterproof sealing solutions, and the growing use of these tapes in automotive and electronics sectors. Additional drivers include a focus on lightweight waterproof materials and the expanding popularity of do-it-yourself (DIY) repair markets. Key trends anticipated during this period involve the heightened use of cold-applied waterproofing tapes, greater adoption of butyl and acrylic adhesive tapes, increasing demand in roofing and repair applications, development of highly durable sealing tapes, and a strong emphasis on easy-to-install waterproof solutions.
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Top Companies Leading the Waterproof Tapes Market
This market features a range of prominent players, including 3M Company, Nitto Denko Corporation, Tesa SE, Sekisui Chemical Co. Ltd., Scapa Group plc, Intertape Polymer Group, Lohmann GmbH & Co. KG, Lintec Corporation, Shurtape Technologies LLC, Nichiban Co. Ltd., Advance Tapes International Ltd., DeWAL Industries Inc., Yongle Tape Co. Ltd., Denka Company Limited, Vibac Group, Orafol Group, Berry Global Inc., Saint-Gobain, Avery Dennison Corporation, and Duck Brand.
In a notable move in May 2024, Fedrigoni, a UK-based manufacturer, acquired Germany's POLI-TAPE Group for an undisclosed sum. This acquisition aims to bolster Fedrigoni's position in the specialty materials arena by utilizing POLI-TAPE's expertise in high-quality adhesive tapes and textile transfer films. It also strengthens their product offerings and broadens their customer reach across multiple industries.
Key Market Trends Creating New Opportunities in Waterproof Tapes
Leading companies in this sector are focusing on innovative waterproof tape solutions incorporating polyurea technology. This technology enhances tape features such as adhesion strength, flexibility, durability, and provides superior resistance to water, chemicals, and extreme temperatures. Polyurea is a unique class of polymers produced through a chemical reaction between an isocyanate and a polyamine.
For example, in June 2023, Fosroc, a UK-based construction solutions provider, introduced Polyurea WH 100, a product designed specifically for roof waterproofing. Its hand-applied method simplifies installation on flat roofs, which are often complex to detail. The tape offers a seamless finish and leverages polyurea technology to ensure long-lasting waterproof protection with fast return-to-service times. This launch enriches Fosroc's product lineup and addresses waterproofing demands in various industry sectors.
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Largest Segment Within the Waterproof Tapes Market
The waterproof tapes market can be divided into key segments:
1) Resin Types: Acrylic and Butyl
2) Substrate Types: Plastic, Metal, and Other substrates
3) End-Use Industries: Building and Construction, Infrastructure and Civil Engineering, Automotive and Transportation, Electrical and Electronics, Packaging and Logistics
Further subcategories include pressure-sensitive acrylic tapes and waterproof acrylic adhesives under the acrylic resin type, and butyl rubber tapes and butyl sealant tapes within the butyl resin segment.
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