Construction Adhesive Tapes Market worth USD 3.6 billion by 2028

CHICAGO, Jan. 15, 2024 /PRNewswire/ -- The report "Construction Adhesive Tapes Market by Technology, Resin Type, Application, End-Use Industry (Non-Residential, Residential), and Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) - Global Forecast to 2028", size is expected to witness a CAGR of 5.7% and is USD 2.7 billion in 2023 and is estimated to reach USD 3.6 billion by 2028. 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.

Solvent-based technology segment to have the largest market share in construction adhesive tapes market, in terms of value and volume.

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.

HVAC & Insulation to be the fastest-growing application segment in the global construction adhesive tapes market in terms of value

The market for construction adhesive tapes in insulation and HVAC (heating, ventilation, and air conditioning) applications is expanding significantly and growing at a phenomenal CAGR (compound annual growth rate). These tapes are essential for insulation and HVAC systems because they offer effective bonding and sealing solutions that are needed for these kinds of applications. The usage of adhesive tapes in HVAC ducting, insulation installations, and sealing applications has increased due to the focus on energy efficiency and temperature management in buildings. These tapes have outstanding surface adhesion, which guarantees airtight sealing, stops heat leaks, and improves the overall efficacy of insulation. They also demonstrate resistance to temperature fluctuations, offering long-term performance and endurance in these crucial applications. The market for construction adhesive tapes in HVAC and insulation applications is expected to sustain a strong growth trajectory, emphasizing their crucial role in these sectors, as the building industry continues to prioritize sustainability and energy efficiency.

Residential to be the largest end-use industry segment in the global construction adhesive tapes market in terms of value and volume

The market for construction adhesive tapes is primarily driven by the residential end-use sector. The increased demand in this industry is a result of its complex requirements, which include new building, maintenance, and refurbishment. Adhesive construction tapes are widely used in residential settings, where they are essential for several activities including wall coverings, flooring installations, tiling, thermal insulation, and many more construction uses. Because of their dependability and adaptability, they are now considered essential instruments in the field of residential construction. The global expansion of housing markets and ongoing urbanization have resulted in a significant increase in demand for construction adhesive tapes, particularly from the residential sector. This highlights the tape's vital role and consistent demand in this market.