The construction adhesive tape market is evaluated at US$762.665 million for the year 2020, growing at a CAGR of 4.91% to reach a market size of US$1,066.730 million by the year 2027. Adhesives are synthetic chemicals that attach to a variety of surfaces, from everyday items to construction materials. These are the materials that are used to keep two surfaces together for a long period. Adhesives used in construction and building are quite diverse. Adhesives are required for traditional and newly developed construction materials such as concrete, polymers, and wood panels to have good adherence, enhanced performance, and ease of application. Adhesives are becoming more popular in the construction industry as a result of these advantages. Construction glue is a multipurpose adhesive that can be used to adhere drywall, tile, molding, and fixtures to walls, ceilings, and floors. It's most typically seen in tubes that are meant to be used with a caulking gun. Construction glue is used to join plywood, particleboard, hardboard, ornamental laminates, metals, concrete, and other materials. High demand exists for adhesive tapes that cure rapidly, are simple to apply, and are inexpensive. Silicones and acrylic sticky tapes are among the recently produced adhesives.
Key drivers driving the market growth
The adhesive tapes market in windows and doors applications is predicted to grow as sticky tape technology improves and characteristics improve. High-performance masking tapes are designed for large-scale construction projects. In the construction industry, duct tape and masking tape have grown commonplace. Manufacturers of tape, on the other hand, are putting more effort into overcoming their disadvantages. Manufacturers in the construction tape industry are stepping up their R&D efforts to develop high-performance tapes, such as high-temperature polyester, to give end-customers more options.
Increasing demand in emerging economies may offer profitable market opportunities
The global economy is rebounding from its slump, and the construction industry is likely to rebound, boosting demand for construction adhesive tapes. In contrast, emerging economies such as India, China, Brazil, and the Middle East are focusing on public infrastructure development. The construction adhesive tape market will benefit from this increase in infrastructure development. The infrastructure sector is a crucial engine of the Indian economy, according to the India Brand Equity Foundation. The sector is critical to India's overall growth, and the government has placed a high priority on enacting regulations that will ensure the country's world-class infrastructure is built on time.
Hot-Melt technology is going to account for the highest market share in the future
The construction adhesive tapes market has been classified into hot-melt-based, solvent-based, and others based on technology. In the future, the hot-melt segment of the construction adhesive tapes market will have the largest market share. This technology has several advantages over other adhesive technologies, including excellent adhesion, quick set, ease of use, fast processing, and others.
The construction adhesive tapes market was dominated by the residential end-use industry segment
In terms of value and volume, the residential end-use industry segment is expected to lead the construction adhesive tapes market during the forecast period. The benefits of using construction adhesive tapes in residential applications include increased strength, excellent finish quality, improved tensile strength, aesthetics, improved productivity, and lower manufacturing costs.
Changing regulations and industry standards will present a significant challenge to the construction adhesive tapes market
Regulations governing the use of construction adhesive tapes are changing frequently, posing challenges for adhesive manufacturers. For example, changes in rules and standards imposed by the European Union's Construction Products Regulation (CPR) are a major concern for manufacturers of construction adhesives, as they determine construction products' minimum (or maximum) performance levels. To demonstrate compliance with the new regulatory policies, new products must go through time-consuming labeling and paperwork.
The largest market for construction adhesive tapes is in North America. Construction adhesive tapes for various residential and non-residential applications are in high demand in the region. North America has one of the world's largest construction markets. North America's building and construction industry are highly developed, and architects and builders in this region are familiar with and skilled in the use of modern architecture in residential and non-residential construction. The Asia-Pacific region is expected to grow rapidly in the future due to high demand from the construction sector in India, China, and other Southeast Asian countries. In terms of construction investment, the development of 100 smart cities in countries such as India and government programs such as Housing for All by 2022 is expected to outpace both the US and Europe over the next five years. The Middle East region also has one of the world's fastest-growing construction markets, led by Saudi Arabia and the United Arab Emirates.
In 2020, COVID-19 wreaked havoc on the construction adhesive tapes industry's whole supply chain. More than a hundred countries had erected barriers to trade and transportation both within and outside their borders. Furthermore, the epidemic had practically brought non-essential goods production to a halt in most of the world's main economies. Due to the epidemic, most active building projects as well as those in the pipeline were halted. As a result, demand for construction adhesive tapes, which are utilized in a variety of construction applications, has decreased. Due to the poor demand, the companies had to restrict output and downsize their employees to save expenses and keep their businesses afloat. Construction adhesive tapes' expansion was limited by these factors.