The global building & construction tapes market size is expected to reach USD 5.29 billion by 2030, according to a new study by Polaris Market Research. The report “Building & Construction Tapes Market Share, Size, Trends, Industry Analysis Report, By Product (Duct Tapes, Double Sided Tapes, Masking Tapes, Others); By Material Type; By Application; By End-Use; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The rapidly growing construction sector in the Asia Pacific, along with the increasing penetration of adhesive tapes for bonding trim and window attachments, are major factors driving the market growth. In addition, the rising 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 demand for building and construction tapes.
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Building & construction tapes are used across various applications such as commercial, residential, and industrial. These tapes are used for mounting components on windows and doors, bonding, and are also used for wall coverings. The tapes are of certain types, such as duct tape, double-sued, masking tapes, and other variants.
There are several manufacturers of building & construction tapes that are keenly aiming at offering customized products based on customers’ needs. Also, increasing urbanization and the rise in construction developments have led to increasing demand in the market worldwide.
The global building & construction tapes market is primarily by rising construction activities. The population of most countries is increasing rapidly, which in turn has surged the infrastructure & construction activities. According to a report published by National Investment Promotion & Facilitation Agency, the revenue of construction equipment agencies reached USD 5.0 billion in 2020. It is expected to grow with an average annual growth rate of 7.1% by 2025.
Asia-Pacific accounted for a significant share of the global market in 2021 and is expected to maintain its dominant share over the forecast period. The strengthening construction industry, greater demand from residential projects, and the development of higher numbers of offices and factories drive the demand in the region. Moreover, the presence of prominent regional players, economic growth, and technological advancements would contribute to the industry growth during the forecast period.
Building & Construction Tapes Market Report Highlights
Polaris Market Research has segmented the building and construction tapes market report based on product, material type, application, end-use, and region:
Building & Construction Tapes, Product Outlook (Revenue - USD Billion, 2018 - 2030)
Building & Construction Tapes, Material Type Outlook (Revenue - USD Billion, 2018 - 2030)
Building & Construction Tapes, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Building & Construction Tapes, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)
Building & Construction Tapes, Regional Outlook (Revenue - USD Billion, 2018 - 2030)