Adhesive Tapes Industry: Building & Construction Tapes Market Size to grow at 5.0% CAGR by 2030

Posted on 2024-01-11 by researchinsights in Industrial // 0 Comments

Adhesive Tapes Industry Data Book – Pressure Sensitive Adhesive Tapes, Building & Construction Tapes, Unidirectional Tapes, Automotive Adhesive Tapes and UV Tapes Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030

The global Adhesive Tapes Industry was valued at USD 72.20 billion in 2022 and is anticipated to increase at a significant CAGR of 5.0% from 2023 to 2030.

Grand View Research’s adhesive tapes sector data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with an agricultural statistics e-book.

Building & Construction Tapes Market Insights

The global building & construction tapes market size was valued at USD 4.64 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 5.0% from 2023 to 2030. Rapid growth of the construction industry in Asia Pacific, coupled with the increasing penetration of adhesive tapes in the industry for bonding of trims and window attachments, is expected to drive industry growth. Building and construction tapes are used in residential, commercial, and industrial buildings for bonding and mounting components on doors and windows, decorative trims or wall coverings, panels to frames, and protective bumper rails to furniture and walls. These products are used as carpet, duct, double-sided, UV resistant, and masking tapes.

The demand for tapes in the U.S. is expected to witness steady progress over the forecast period on account of the growth of the home refurbishing market. In addition, the demand for lightweight materials is likely to gain impetus owing to the increased adoption of such products for bonding and protection. Furthermore, the market is anticipated to be driven by the introduction of advanced products by manufacturers in the country.

The increased demand for taping materials in developed economies, such as Germany and the U.S., for various applications in the residential sector, is likely to drive the industry for building and construction tapes. In addition, rising awareness regarding the superior aesthetic appeal provided by these products, coupled with the ease of building refurbishment, is expected to complement market growth over the forecast period.

Order your copy of the Free Sample of “Adhesive Tapes Industry Data Book – Pressure Sensitive Adhesive Tapes, Building & Construction Tapes, Unidirectional Tapes, Automotive Adhesive Tapes and UV Tapes Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030” Data Book, published by Grand View Research

Unidirectional Tapes Market Insights

The global unidirectional tapes market size was valued at USD 236.3 million in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 16.0% from 2023 to 2030. The growing requirement for lightweight components in the automotive and aerospace industries is likely to fuel demand for unidirectional tapes (UD tapes) throughout the forecast period. Furthermore, the rising use of lightweight components across several manufacturing industries is expected to contribute to market growth. The increased use of unidirectional tapes in high-end automobiles and e-vehicles is predicted to boost their adoption in the automotive sector. The usage of a product in a car is helpful to reduce its weight, which further improves its economy and speed. Their use in e-vehicles helps to extend the range of vehicles on a single charge. Several governments, like India, Australia, and Canada, are launching steps to promote the use of e-vehicles, which will boost the need for unidirectional tapes.

The U.S. is expecting a positive trend over the forecast period as the country is witnessing investments in various automotive and aerospace industries. Major manufacturers operating in the country including General Motors, Ford Motor Company, Chevrolet, Tesla, Inc., and others have set up their manufacturing plants in the U.S. owing to the rise in demand. In addition, growing demand for lightweight vehicles coupled with ascending trends for electric vehicles in the country is expected to raise production and, thereby, is likely to have a positive impact on the market.

Manufacturers are adopting technologies such as automated tape laying, advanced fiber placement, and spread tow technology for refining, fastening, and controlling the manufacturing process of unidirectional fibers. Production of these fibers as well as its qualities are regulated as per standards set by the International Organization of Standards (ISO) and American Society of Testing Materials (ASTM).

Go through the table of content of Adhesive Tapes Industry Data Book to get a better understanding of the Coverage and scope of the study

Adhesive Tapes Industry Data Book Competitive Landscape

The global adhesive tapes market is moderately competitive, with established players having significant experience, enabling them to devise better growth strategies as compared to other players.

Key players operating in the Adhesive Tapes Industry are:

3M
Nitto Denko Corporation
tesa SE
LINTEC Corporation
Intertape Polymer Group

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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