PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1441365
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1441365
Global Construction Adhesive Tapes Market is valued at approximately USD 2.55 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.7% during the forecast period 2023-2030. Construction adhesive tapes are specialized tapes used in the construction industry for bonding, sealing, mounting, insulation, and weatherproofing. They offer an alternative to traditional adhesives, providing strong, durable bonds and easy application. These tapes are versatile, catering to various construction needs, from securing insulation to mounting objects, and they contribute to efficient, durable, and sustainable construction projects. The rise in demand in residential housing and infrastructure sectors, versatility and ease of application, coupled with the rising urbanization and population growth are the most prominent factors that are propelling the market demand across the globe.
In addition, the flourishing growth of the construction industry is directly associated with the demand for construction adhesive tapes, which is fostering market growth at a substantial rate. The construction sector is placing a greater emphasis on environmental considerations. Adhesive tapes present a sustainable choice compared to conventional adhesives due to their lower VOC emissions and the potential to incorporate recycled materials into their formulations. This aligns with the increasing emphasis on sustainable construction practices, appealing to environmentally conscious builders and developers. As per Statista, the construction (including commercial and residential infrastructure) industry spending is rising constantly, in 2021, the worldwide construction spending was valued at USD 12.9 trillion, which is projected to rise to USD 17.1 trillion by the year 2030. There is a corresponding increase in the requirement for tapes for various applications, including bonding and sealing with the rise in construction activities. Moreover, the rising emphasis on the introduction of eco-friendly and sustainable adhesive tapes, as well as the growing technological advancements and innovation presents various lucrative opportunities over the forecast years. However, the changing regulations and environmental concerns, along with volatility in the price of raw materials are hindering the market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Construction Adhesive Tapes Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the increased use in specialty applications, the rising number of initiatives taken by national governments to provide housing facilities, as well as rising urbanization and population growth. Whereas, North America is expected to grow with a significant CAGR over the forecast years. The rapid development of the commercial construction sector, escalating building and construction activities, and growing demand for eco-friendly and sustainable adhesive tapes are significantly propelling the market demand across the region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable