TAGS: Solvent borne Adhesives
Markets and Markets (M&M) anticipates that the global construction adhesive tapes market size is projected to grow from USD 2.5 billion in 2022 to USD 3.1 billion by 2027, at a CAGR of 4.6% during the forecast period.
The increasing use of construction adhesive tapes in construction projects is one of the most significant factors projected to drive the growth of the construction adhesive tapes market.
Solvent-based Technology: Second-fastest-growing Segment
Solvent-based technology is expected to be the second-fastest-growing segment in the construction adhesive tapes market during the forecast period. The solvent-based technology involves the use of significantly higher levels of solvents. Solvent-based adhesives are also called oil-based or alkyd adhesives.
In solvent-based technology, adhesives are formulated by using solvents that evaporate during drying and are majorly circulated back into the process. Toluene, heptane, acetone, n-butyl acetate, methyl ethyl ketone, methylene chloride, naphtha, and mineral spirits are some of the common solvents used for the manufacture of adhesives.
Rubber resin type is expected to be the second-fastest-growing segment in the construction adhesive tapes market during the forecast period. Rubber-based construction adhesive tapes are manufactured from synthetic and natural rubber.
They possess characteristics such as high tack and peel strength due to their ability to adhere well to several non-polar, low-energy surfaces including polyethylene and polypropylene. Rubber-based construction adhesive tapes are economical than most acrylic-based construction adhesive tapes.
High-flexibility rubber-based construction adhesive tapes possess high peel strength, versatility in a formulation, and good electrical and thermal insulation properties.
Windows & Doors: Fastest-growing Application Segment
Rubber resin type is expected to be the fastest-growing segment along with flooring application in the construction adhesive tapes market during the forecast period. Construction adhesive tapes in windows and doors application is majorly used for fixing and to withhold the doors and windows with its frames.
Double-sided and rubber-resin-based adhesive tapes are used for meeting the purpose. The adhesive tapes are used for their remarkable adhesive and mechanical properties, quick setting/curing time, better water resistance, and capacity to withstand weathering and smooth surface finish.
In addition, these tapes are also used for providing acoustic and thermal insulations for both residential and non-residential buildings, due to their extensive sound dampening and heat and temperature seepage resistance.
With the advancements in adhesive tape technology and enhancements in properties are expected to drive the market for adhesive tapes in windows and doors applications.
Non-residential is expected to be the second-fastest-growing segment in the construction adhesive tapes market during the forecast period. Non-residential application refers to the use of construction adhesive tapes in commercial buildings. These buildings are intended for use for business activities.
It comprises land or premises that do not provide facilities for people to reside permanently. The growth of the segment can be attributed to the high demand for construction adhesive tapes in commercial complexes, retail offices, institutions, and others.
Highest Growth in China
China led the construction adhesive tapes market in 2021. The market in China is driven by the presence of major end-use industries and increasing industrialization in the country. This trend is expected to continue during the forecast period. During the forecast period, the building & construction industry in China is expected to witness strong growth due to various policy changes.
The government of China has strongly pushed fiscal stimulus in the form of infrastructure investments in recent years as a means to sustain economic growth. Also, local Chinese governments gradually relaxed real estate regulations, purchase criteria, and credit availability, resulting in a boost to the domestic real estate market. These policies have helped China’s construction industry to grow, making it a major market for construction adhesive tapes manufacturers to invest.
3M (US), Nitto Denko Corporation (Japan), Tesa SE (Germany), Scapa Group Ltd (UK), Intertape Polymer Group (Canada), Beery Global Inc. (US), Nichiban Co., Ltd. (Japan), and Sika AG (Switzerland) are some of the major players in the market.
Source: Markets and Markets (M&M)