Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by
Infinium Global Research on the construction adhesive tapes market provides an in-depth analysis of segments and sub-segments in the global as well as
regional construction adhesive tapes market. The study also highlights the
impact of drivers, restraints, and macro indicators on the global and regional
construction adhesive tapes market over the short term as well as long term.
The report is a comprehensive presentation of trends, forecasts, and dollar
values of the global construction adhesive tapes market. According to the report,
the global construction adhesive tapes market is projected to grow at a CAGR of
about 5% over the forecast period of 2022-2028.
The global construction adhesive tapes market was valued at around USD 2400 million in 2022 and is expected to
reach nearly USD 3200 million in 2028, with a CAGR of about 5% during the
forecast period. The increasing awareness among competitors because of the
advantage of adhesive tapes is anticipated to increase the demand at a high
speed within the forecast period. Various research and developmental activities
have steered the expansion of the appliance category and hence, the market
seems to be growing at a big pace. The new trend of substituting bolts, screws,
rivets, and other attaching or fastening techniques with adhesives has been
resulting in the progress of the adhesive market at a worldwide rate. Besides
this, the growing demand for low-cost and high-performance materials is
additionally fueling the expansion of the construction adhesive tapes market
during the forecast period.
The market's expansion is
attributed to adhesives' substantial benefits over alternative bonding
materials. Construction Adhesives Tapes distribute stress and offer bonded
surfaces flexibility, evenly across the joint, and are particularly
cost-effective. Residential building construction is projected to enhance
industry growth. Permanent houses are being developed on an outsized scale by
both government and personal builders to satisfy the growing need for housing,
which necessitates adhesive for flooring, exterior insulation, and panel
installation, among other things. As a result, the marketplace is probably
going to develop. The flexibility of the construction adhesive tapes to survive
over an extended period of time in high temperatures eventually propels the
demand between the most important market players during the forecast period.
Furthermore, the availability of different types of adhesives tailored to the
wants of the development process is anticipated to bolster market growth.
However, on the other hand, environmental rules regarding emissions, are likely
to hamper the expansion of the market.
The COVID-19 pandemic has
negatively affected the expansion of the market during the forecast period.
Globally the construction sector has been highly affected, as most building
activities have come to a standstill because of the increasing spread of the
covid-19 virus. Besides this, thanks to the suspension in operations, other
orders for building materials, including adhesives, were canceled. Furthermore,
because of the transportation and trade restrictions imposed between countries,
the management of logistics and the supply chain of construction adhesives was
hampered. Thus this affected manufacturing of companies because of difficulty
procuring the raw materials like glue and other material from supplier
companies. These factors hampered the expansion of the market during the
covid-19 pandemic.
Based on the region, the worldwide
construction adhesive tapes market is segmented into the Asia Pacific, North
America, Europe, and also the Middle East & Africa. North America is the
largest marketplace for construction adhesive tapes. The region encompasses a
high demand for construction adhesive tapes for various residential and
non-residential purposes. North America is among the biggest construction
market in the world. The building & housing industry in North America
is very developed, and designers and builders present within this region are
acquainted and skilled with the employment of recent architecture in
residential and non-residential construction. Whereas, the Asia Pacific region
is predicted to be the fastest growing region during the forecast period.
Moreover, convalescing construction sector from the covid-19 epidemic in India,
China, and other countries creates lucrative growth opportunities for the
construction adhesive tapes market within the forecast period.
The report on the global construction
adhesive tapes market covers segments such as technology, and application. On
the basis of technology, the sub-markets include rubber resin, solvent-based,
hot-melt, and other. On the basis of application, the sub-markets include
residential, commercial, infrastructure, and industrial and institutional.
The report provides profiles of
the companies in the market such as 3M (US), Nitto Denko Corporation (Japan),
Scapa Group Ltd (UK), Tesa SE (Germany), Inter tape Polymer Group (Canada),
Beery Global Inc. (US), Nichiban Co. Ltd. (Japan), Sika AG (Switzerland), Avery
Dennison Corporation (US), and Lohmann GmbH (Germany).
The report provides deep insights
into demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the construction adhesive tapes market. Moreover, the study highlights
current market trends and provides forecasts from 2022-2028. We also have
highlighted future trends in the market that will affect the demand during the
forecast period. Moreover, the competitive analysis given in each regional
market brings insight into the market share of the leading players.
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