Chicago, July 14, 2024 (GLOBE NEWSWIRE) — The Global Construction Adhesive Tapes Market is projected to grow from USD 2.7 billion in 2023 to USD 3.6 billion by 2028, at a CAGR of 5.7% from 2023 to 2028. as per the recent study by MarketsandMarkets™. The activities related to building and construction are still a major driving force behind this increased demand. Due to their many uses, these adhesive tapes are becoming more and more important in a variety of building tasks.
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Browse In-Depth TOC On “Construction Adhesive Tapes Market”
485 – Market Data Tables
62 – Figures
344 – Pages
List of Key Players in Construction Adhesive Tapes Market:
- 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)
- Sika AG (Switzerland)
Drivers, Restraints, Opportunities and Challenges in Construction Adhesive Tapes Market:
- Drivers: Increasing investments in construction industry to propel the market growth.
- Restraints: Raw Material Price Volatility.
- Opportunity: Increasing demand in emerging economies to create lucrative opportunities for the market.
- Challenges: Established infrastructure in developed countries to be a major challenge for market growth.
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Key Findings of the Study:
- Hot melt-based technology estimated to grow with the highest CAGR, in terms of value and volume.
- Flooring segments lead the construction adhesive tapes market.
- Residential end-use industry segment to grow with highest CAGR during forecasted period.
- Asia Pacific is the largest regional market for construction adhesive tapes globally.
The market for construction adhesive tapes is expected to be dominated by solvent-based technology over the estimated period. This technology—also known as oil-based or alkyd adhesives—heavily depends on solvent concentrations that are greater. With this procedure, solvents that evaporate during the drying process are used to manufacture adhesives, which are then primarily recycled back into the production cycle. Toluene, heptane, acetone, n-butyl acetate, methyl ethyl ketone, methylene chloride, naphtha, and mineral spirits are often used solvents in the production of these adhesives.
The market for construction adhesive tapes is expected to develop at the second-fastest rate for rubber resin types. These tapes, which are made of natural and synthetic rubber, are known for their strong peel strength and robust tackiness. This is because they are good at sticking to low-energy, non-polar surfaces like polyethylene and polypropylene. Moreover, compared to many acrylic-based alternatives, rubber-based construction adhesive tapes typically offer a more affordable solution. Extremely flexible rubber-based tapes provide excellent peel strength, a versatile formulation, and excellent thermal and electrical insulation qualities.
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Based on technology, Over the projected period, the construction adhesive tapes market’s hot-melt technology segment is expected to develop at the fastest rate in terms of both value and volume. Hot-melt adhesives are applied liquid and solidify upon cooling. They are made entirely of solid components based on thermoplastic polymers. Using hot-melt technology, sticky tapes are made by melting the adhesive and moving it to a coating head while it is still molten. The adhesive layer is then formed by pressing the molten adhesive through a die. Hot-melt adhesives are becoming more and more popular because of their quick setting time, low material and processing costs, and minimal environmental effect. In terms of technology use, solvent-based techniques are the most popular used technology.
Based on resin type, in terms of both value and volume, the acrylic segment of the construction adhesive tapes market is anticipated to develop at the fastest rate possible while the forecast year. The moisture vapor transmission rate of these tapes demonstrates their moisture permeability. The thickness and formulation of the adhesive layer determine how much moisture can pass through. Construction adhesive tapes with an acrylic basis are more robust and stable than those with a rubber base. Acrylic resin is in high demand because of its many applications in different building industries, cost-effectiveness, and favourable physical and chemical qualities.
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