The coronavirus (COVID-19) pandemic has unleashed an unprecedented calamity across the world. Its repercussions are being felt in the global construction industry. The International Monetary Fund (IMF) projects that the real gross domestic product (GDP) will shrink at a significant rate worldwide. This is anticipated to impact the growth of the construction tape market. As such, the U.S. construction industry is projected to witness mass layoffs due to coronavirus restrictions.
China’s economy is in a revival mode, since the pandemic has drastically subsided. However, the pandemic has led to the volatility in the demand and supply of products for the construction sector. Hence, companies in the construction tape market are preparing for future uncertainty. They are becoming more flexible in their production and business activities. Manufacturers are resorting to digitalization of processes due to travel and international trade restrictions.
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High Performance Masking Tapes Cater to Extensive Construction Work Projects
Duct tapes and masking tapes have become customary in construction applications. However, tape manufacturers are increasing efforts to overcome their drawbacks. For instance, duct tape is used for emergency leak repairs. However, the same tape loses its adhesive strength in sealing or repairing of heating and ventilation ducts. Similarly, even masking tapes leave a sticky residue on surfaces, and need to be removed within a short span of hours to come off cleanly. In order to overcome these challenges, manufacturers in the construction tape market are increasing their R&D efforts to develop high performance tapes such as the high temperature polyester option to provide alternative solutions to end users.
Companies in the construction tape market are innovating in masking tapes that cater to a wide range of indoor and outdoor applications. For instance, in December 2019, Ciret Ltd.— a manufacturer of high quality tools for the painting and decorating industry, has announced the launch of their innovative masking tape, which is suitable for extensive construction work projects.
High Bonding Duct Tapes Acquiring Prominence in Electrical Applications
Waterproof PE (polyethylene)-coated fabric transparent duct tapes are in high demand for construction applications. Ajit Industries— a provider of pressure sensitive self-adhesive solutions has gained efficacy in manufacturing waterproof PE-coated fabric transparent duct tapes that are backed by high tack property, along with hand tearable feature. Heavy-duty materials such as long-lasting adhesives and fabrics in duct tapes are acquiring prominence in electrical applications and repairing uses.
Manufacturers in the construction tape market are increasing their production capabilities in high bonding duct tapes that are being increasingly used in heavy duty seaming and sealing applications such as for air conditioning (AC) ducting. Companies in the construction tape market are increasing the availability of high strength and waterproof duct tapes that deploy high holding power across different temperature ranges.
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High-end Adhesive Tapes Deliver Design Freedom in Glassing Structures
The construction sector is challenged with tight cost estimates, evolving design trends and innovative building materials. Lohmann— a manufacturer of adhesive tape systems and adhesive solutions is increasing efforts to identify these challenges and offers construction tapes that offer numerous advantages for roof, windows, façade, and interior applications. Companies in the construction tape market are manufacturing high-end adhesive tapes that deliver immediate bonding and are user-friendly in nature.
High-end construction tapes are deploying improved energy efficiency in building applications. Manufacturers are increasing the availability of tapes that provide greater design freedom in construction applications. They are targeting the use of construction tapes for high-tech glassing structures. Such applications are bolstering the growth of the market for construction tapes, which is projected to expand by ~1.3x of current market value with a CAGR of 4% during the assessment period.
Advanced Material Technology Helps in Development of Self Adhesive Tape Solutions
Companies in the construction tape market are increasingly manufacturing indoor and outdoor vapor barrier tapes. They are focusing on R&D capabilities in advanced material technology to innovate in high-end adhesive tapes. For instance, Scapa Industrial— a provider of technical adhesive solutions, is increasing efforts to source specific raw materials to innovate in adhesive tape products. High performance construction tapes are improving productivity levels in work projects. Manufacturers in the construction tape market are catering to the demand of builders, civil engineers, and contractors to provide class-leading self-adhesive tape solutions.
Apart from electrical and glassing systems, tape manufacturers are unlocking value grab opportunities in air, dust, and moisture management applications. Flooring, environmental restoration, and signage are other revenue generating avenues. Wall claddings and plaster profile bonding applications are fueling the demand for construction tapes.
Innovative Bonding Technologies Aid in Cost-efficiency and Design Capabilities in Construction Applications
High temperature polyester tapes are being made with silicone materials for masking applications. These tapes are gaining prominence in powder coating applications. Apart from construction and buildings, manufacturers in the construction tape market are tapping into business opportunities in sports and recreational activities for caution and safety purposes. For instance, Cardinal Tapes, a manufacturer in Wuppertal, Germany, is exploring revenue opportunities in innovative applications such as film production and processing, metal finishing, event technology, etc.
Yacht builders and trade fair end users are triggering the demand for high end adhesive tapes. Innovative adhesive technologies are bolstering growth of the construction tape market. For instance, tesa SE— a German provider of adhesive tape solutions, has innovated in its slimline bonding technology for adhesive tapes that help users in the construction industry to achieve cost efficiency and increased design freedom.
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