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The construction adhesive tapes market is estimated to be USD 2.5 billion in 2022 and is projected to reach USD 3.1 billion by 2027, at a CAGR of 4.6% between 2022 and 2027
The increasing demand for construction adhesive tapes in building & construction projects is one of the most significant factors projected to drive the growth of the construction adhesive tapes market.
New York, May 11, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Construction Adhesive Tapes Market by Technology, Resin Type, Application, End-Use Industry And Region - Global Forecast to 2027" - https://www.reportlinker.com/p06276180/?utm_source=GNW
However, the negative impact of the COVID-19 pandemic across all the end-users has affected the construction adhesive tapes market adversely.
Safety and ease of application provided by construction adhesive tapes to boost the market growth.
The use of adhesive tapes has many advantages such as versatility and ease of application.For instance, construction adhesive tapes not only join two similar or dissimilar materials but also reduce vibration and act as corrosion inhibitors.
The ever-increasing need for high performance across all modern applications is driving the growth of the construction adhesives market.This also results in the development of newer and improved applications and performance properties of construction adhesive tapes.
The adhesive tapes that cure quickly, are easy to apply, and available at low cost are in high demand. The newly developed adhesives include silicones, and acrylics adhesive tapes.
Recovering construction industry from pandemic in China and other countries to create opportunities for construction adhesive tapes market.
The economy of China is the significantly growing significantly economy and the country is considered a powerhouse of the construction industry, globally.Although China was the epicenter of the COVID-19 pandemic, it has shown signs of recovery, supported by investment in infrastructure.
According to the National Development and Reform Commission (NDRC), China has already resumed construction of almost all of the projects.Countries such as India, Australia, Japan, the US, and the UK are also showing good recovery and gaining pace in the construction industry.
This recovery in some of the major construction countries would provide a boost to the demand for construction adhesive tapes.
Changing regulations and industry standards to be a major challenge for construction adhesive tapes market.
Regulations regarding the use of construction adhesive tapes are undergoing many changes, which pose challenges to the manufacturers of these adhesives.For instance, the changes in rules and standards imposed by the Construction Products Regulation (CPR) in the European Union is a major concern for manufacturers of construction adhesives, as they determine the minimum (or maximum) performance levels of the construction products.
The development of new products undergoes time-consuming labeling and paperwork to demonstrate compliance with the new regulatory policies. However, new products with better properties are being offered by market players to sustain in the construction adhesive tapes market.
North America to be the second-fastest-growing region in construction adhesive tapes market in terms of both value and volume.
North America is the largest market for construction adhesive tapes.The region has high demand for construction adhesive tapes for various residential and non-residential purposes.
North America is among the largest construction market in the world. The building & construction industry in North America is highly developed, and architects and builders present in this region are acquainted and skilled with the use of modern architecture in residential and non-residential construction.
This study has been validated through primary interviews conducted with various industry experts globally. These primary sources have been divided into the following three categories:
• By Company Type- Tier 1- 37%, Tier 2- 33%, and Tier 3- 30%
• By Designation- C Level- 50%, Director Level- 30%, and Others- 20%
• By Region- Europe- 50%, Asia Pacific (APAC) - 20%, North America- 15%, Middle East & Africa (MEA)-10%, Latin America-5%,
The report provides a comprehensive analysis of company profiles :
3M (US), Nitto Denko Corporation (Japan), Tesa SE (Germany), Scapa Group Ltd (UK), Intertape Polymer Group (Canada), Beery Global Inc. (US), Nichiban Co., Ltd. (Japan), and Sika AG (Switzerland).
Research Coverage
This report covers the global construction adhesive tapes market and forecasts the market size until 2026.It includes the following market segmentation – by technology (Hot-Melt Based, Solvent-Based, Others), by resin type (Acrylic, Rubber, Others), by application (Flooring, Roofing, Windows & Doors, Walls, HVAC & Insulation), by end-use industry (Residential, Non-Residential, Others), and Region (North America, Europe, Asia Pacific, Middle East & Africa, South America).
Porter’s Five Forces Analysis, along with the drivers, restraints, opportunities, and challenges, have been discussed in the report. It also provides company profiles and competitive strategies adopted by the major players in the global construction adhesive tapes market.
Key benefits of buying the report:
The report is expected to help market leaders/new entrants in this market in the following ways:
1. This report segments the global construction adhesive tapes market comprehensively. It provides the closest approximations of the revenues for the overall market and the sub-segments across different verticals and regions.
2. The report helps stakeholders understand the pulse of the construction adhesive tapes market and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand competitors better and gain more insights to better their position in their businesses. The competitive landscape section includes the competitor ecosystem, new product development, agreement, contract, expansion, and acquisition.
Reasons to buy the report:
The report will help leaders/new entrants in this market by providing them with the closest approximations of the revenues for the overall construction adhesive tapes market and the sub-segments. This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way.
Read the full report: https://www.reportlinker.com/p06276180/?utm_source=GNW
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