Building and Construction Tapes Global Market Report 2024

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 observed during the historical period can be attributed to several factors, including the overall growth of the construction industry, an increased emphasis on energy efficiency in building projects, heightened repair and maintenance activities, the use of tapes in waterproofing applications, and a growing demand for sustainable building materials. These factors collectively contributed to the adoption and application of building and construction tapes across various construction projects.

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 anticipated growth in the forecast period can be attributed to several key factors, including the implementation of green building initiatives, ongoing infrastructure development projects, a rising trend in prefabricated construction methods, increased awareness of air and water barrier systems, and growing demand in both residential and commercial real estate sectors. These factors are expected to contribute to the continued adoption of building and construction tapes in diverse applications. Major trends expected in the forecast period include the introduction of double-sided tapes, a heightened focus on noise-damping tapes, the development of energy-efficient insulation tapes, an emphasis on customization and tailored tape solutions to meet specific project needs, and the integration of digitalization and smart technologies in construction tapes. These trends reflect the industry's response to evolving construction practices, sustainability goals, and the demand for advanced and innovative tape solutions in the building sector.

The building and construction tapes market is poised for growth due to the expanding construction industry. This industry encompasses various activities involved in the planning, development, and maintenance of physical structures and infrastructure. Building and construction tapes serve multiple purposes in construction, including temporary repairs, surface protection, sealing, waterproofing, insulation, and securing. Notably, reports from March 2023 indicated a 3.8% increase in US construction spending, reaching $1,834.7 billion, while in the UK, the construction sector experienced a significant annual rise of 12.7% in 2021, according to February 2022 data from the Office for National Statistics.

The building and construction tapes market is expected to benefit from the growing demand for home aesthetic improvements. Homeowners are increasingly inclined to enhance the visual appeal and functionality of their residences. Building and construction tapes present a versatile and cost-effective solution for achieving aesthetic upgrades, allowing for creative applications in adding color, creating unique textures, and enhancing functionality. Survey data from May 2023 revealed that a considerable portion of US homeowners (69%) feel embarrassed about their homes' aesthetic choices, prompting around 78% to plan home improvement projects with an average projected spending of $1753 on these endeavors.

Product innovation stands as a prominent trend driving the building and construction tapes market's growth trajectory. Companies within this sector are fervently engaged in pioneering inventive products to maintain their market standing. An exemplary instance is the introduction of Intertape Polymer Group Inc.'s PEFR in May 2021, a flame-retardant polyethylene (PE) tape. Tailored for various applications necessitating flame-retardant materials, this heavy-duty tape amplifies fire protection measures. Engineered with durable, water-resistant polyethylene, it proves robust in diverse environmental conditions. The tape's repositionable nature ensures ease of use without leaving residual mess. Its utilization contributes significantly to bolstering fire safety compliance within environments such as hospitals, laboratories, construction sites, and academic buildings.

Industry leaders in the building and construction tapes realm are concentrating on novel solutions such as scannable technologies facilitating the connection between physical objects and digital information. Shurtape Technologies LLC is a prime example, having unveiled Duck Pro by Shurtape BR Code Scannable Solutions powered by the BitRip app in January 2023. This innovative product line features distinct tapes and labels preprinted with dynamic scannable codes. These codes efficiently organize and trace essential job site information, integrating physical objects with their digital counterparts. This advancement is aimed at optimizing workflow, communication, and management across construction, remodeling, installation, and repair domains.

In December 2022, Shurtape Technologies LLC, a renowned US-based adhesive tape manufacturer and marketer, completed the acquisition of Pro Tapes & Specialties Inc. The acquisition, executed for an undisclosed sum, is positioned to augment Shurtape's array of products and its customer outreach. This strategic move aligns with Shurtape's objective of fostering business growth and enhancing overall profitability. Through this union, both entities affirm their dedication to delivering exceptional innovation, service, and quality to the diverse sectors they serve. Pro Tapes & Specialties Inc., a notable tape manufacturer in the United States, specializes in offering a broad spectrum of tapes, including those designed for building and construction applications.

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.

North America was the largest region in the building and construction tapes market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the building and construction tapes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the building and construction tapes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary product categories within building and construction tapes include double-sided tapes, masking tapes, duct tapes, and others. Double-sided tape is characterized by exposed pressure-sensitive adhesive on both sides and is available in various backing materials such as polyvinyl chloride (PVC), polyethylene terephthalate, polypropylene, foil, polyethylene, foam, paper, among others. It serves multiple functions, including bonding, protection, insulation, glazing, soundproofing, and cable management. Applications for these tapes span across doors, flooring, roofing, walls and ceilings, windows, building envelope, plumbing, HVAC (heating, ventilation, and air conditioning), and electrical. The primary end-users include commercial, residential, and industrial construction.

The building and construction market research report is one of a series of new reports that provides building and construction market statistics, including building and construction industry global market size, regional shares, competitors with a building and construction market share, detailed building and construction market segments, building and construction market trends and opportunities, and any further data you may need to thrive in the building and construction industry. This building and construction market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The building and construction tape market consists of sales of filament tape, electrical tape, foam tape, barrier tape, reflective tape, grip tapes, friction tapes, and floor marking tapes. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.