PUBLISHER: 360iResearch | PRODUCT CODE: 1499461
PUBLISHER: 360iResearch | PRODUCT CODE: 1499461
[187 Pages Report] The Construction Adhesive Tapes Market size was estimated at USD 2.82 billion in 2023 and expected to reach USD 2.97 billion in 2024, at a CAGR 5.47% to reach USD 4.10 billion by 2030.
The global market for construction adhesive tapes is experiencing substantial growth due to the increasing demand for robust bonding solutions in construction activities. These adhesive tapes are widely used for various purposes such as insulation, mounting, joining materials, and sealing, due to their excellent adhesion properties, resistance to environmental factors, and ease of application. Innovations in material technologies, such as the development of eco-friendly and more durable adhesive tapes, are also propelling the market forward. The expanding construction industry, particularly in emerging economies, has led to an escalation in the utilization of these adhesive tapes. This upsurge is further stimulated by the ongoing trend of automation and efficient tools in construction practices, which rely heavily on high-performance adhesive tapes for better productivity and work quality. With stringent building regulations and the need for energy-efficient buildings, the market is poised to maintain a positive trajectory in the coming years, with manufacturers continuing to invest in research and development to meet the evolving requirements of the construction sector.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 2.82 billion |
Estimated Year [2024] | USD 2.97 billion |
Forecast Year [2030] | USD 4.10 billion |
CAGR (%) | 5.47% |
Regional Insights
In the Americas, with particular focus on the United States and Canada, the construction adhesive tapes market is aligned with the rigorous building standards and growing construction activities. The consumer need is underscored by the demand for durable and weather-resistant adhesive tapes, reflecting the diverse climatic conditions. Customers in these regions often prioritize brand reputation and eco-friendly certifications when making purchasing decisions. Recently, the United States has seen a number of innovations with several patents filed promoting advancements in adhesive technology, with a focus on improving the environmental footprint. In the EU countries, the construction adhesive tapes market is shaped by strict EU regulations on building materials, inclusive of environmental sustainability and safety. The market in the Middle East, while smaller than Europe, is influenced by the extensive construction projects in the region, with a demand for high-performance adhesive solutions capable of withstanding extreme temperatures. Africa's market is emerging, with specific needs for cost-effective and versatile adhesive tapes for various applications. Research and development efforts within the EU are abundant, with numerous patents emerging that focus on improved adhesion properties, compatibility with various substrates, and ease of use. Investment within the EU is also geared towards reducing the carbon footprint of construction materials. The Asia Pacific region, with a spotlight on China, Japan, and India, is experiencing a boom in the construction adhesive tapes market. This growth is fueled by expanding infrastructure, urbanization, and the presence of major manufacturers.
Market Insights
The market dynamics represent an ever-changing landscape of the Construction Adhesive Tapes Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
FPNV Positioning Matrix
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Construction Adhesive Tapes Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Construction Adhesive Tapes Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments
Arkema Buys Adhesives and Sealants Company in Ireland
Arkema's strategic acquisition of Arc Building Products, an esteemed provider of construction adhesives and sealants, marks a significant expansion of its footprint in the Irish market. With the purchase set to finalize in early 2024, Arkema, through its subsidiary Bostik, will elevate its presence in the construction adhesives sector by incorporating Arc Building Products' robust portfolio that is revered for exceptional system solutions and dedicated customer service. This expansion concretizes Arkema's ambition to deliver an extensive range of adhesive solutions to an ever-evolving construction market. [Published On: 2023-12-19]
Tesa expands plant in the USA
Tesa's state-of-the-art facility in Sparta, Michigan, has successfully completed an extensive two-year expansion, effectively enlarging its footprint to 16,000 square meters, with 10,000 square meters dedicated to its production area. This development ensures the availability of sustainable, solvent-free adhesive tapes to meet the specific needs of industries such as automotive, transportation, logistics, electronics, construction, corrugated paper, and printing. The expansion includes an advanced Technology and Product Development Laboratory, coupled with a new Customer Solution Center-designed to foster close collaboration and co-development of eco-friendlier adhesive solutions with clients across the United States, Canada, and Mexico. [Published On: 2023-10-06]
Avery Dennison Launches New Cold Tough Adhesive Portfolio
Avery Dennison Performance Tapes has recently unveiled its Cold Tough Adhesive Collection, a pioneering lineup of pressure-sensitive adhesive (PSA) tapes, specifically engineered for the rigorous demands of the building and construction sector. This innovative offering provides a versatile bonding solution effective under a wide array of climatic stressors. From the harsh chills of winter to the soaring humidity levels in summer, the robust adhesive chemistry of Cold Tough(TM) ensures consistent performance. Additionally, it is resilient to extreme weather patterns such as protracted droughts and intense rainfall, showcasing its ability to maintain integrity and function in various challenging conditions. [Published On: 2023-08-29]
Strategy Analysis & Recommendation
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Construction Adhesive Tapes Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Construction Adhesive Tapes Market, highlighting leading vendors and their innovative profiles. These include 3M Company, Advance Tapes International, American Biltrite Inc., Avery Dennison Corporation, Bostik Limited by Arkema Group, Bowtape Co., Ltd., Carlisle Coatings & Waterproofing, Inc. by Pecora Corporation, Compagnie de Saint-Gobain S.A., Cosmo Films Ltd., DuPont de Nemours, Inc., Godson Tapes Private Limited, Intertape Polymer Group Inc., L&L Products, Inc., Lohmann GmbH & Co. KG, Mapei S.p.A., Maxell, Ltd., NADCO Tapes & Labels, Inc., Nichiban Print Co., Ltd., Nitto Denko Corporation, PPM Industries S.p.A., Scapa Group PLC by Schweitzer-Mauduit International, Inc., Seal for Life Group, Shurtape Technologies, LLC, Sika AG, and Tesa SE.
Market Segmentation & Coverage