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3. Agreements/Contracts, Expansions, Acquisitions, And New Product Developments Are Key Strategies adopted by Leading Players in the Construction Adhesive Tapes Market

An adhesive tape is any substance that is capable of holding materials together in a functional manner by surface attachment that resists separation. The building & construction industry is one of the largest end- use industry of construction adhesive tapes. These can be used in various applications such as flooring, roofing, windows & doors, wall covering, dry lamination, HVAC & insulation, and others. Adhesive tapes are a major part of the construction industry as they are used in bonding, renovation, maintenance, and repairs in end-use sector such as residential, non-residential, and infrastructure.

The major drivers for the construction adhesive tapes market include growth in global construction industry, increased demand in residential housing and infrastructure industries, and increasing investments in construction industry. Adverse impact of Covid-19 and declined economy due to Covid-19 can restrain the market from growing. Some of the opportunities for manufacturers include increasing demand from emerging economies and recovering construction industry from pandemic in China and other countries. The major challenges faced by the manufacturers is established infrastructure in developed countries coupled with changing regulations and industry standards. The global construction adhesive tapes market size is expected to grow from USD 2.5 billion in 2022 to USD 3.1 billion by 2027, projecting a CAGR of 4.5% during the forecast period between 2022 and 2027.

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Companies operating in the construction adhesive tapes market have strengthened their position by adopting expansions, partnerships, agreements, new product/technology launches, joint ventures, contracts, and mergers & acquisitions from 2017-2022. For instance, in January 2022, Tesa SE invested around USD 61.5 million for the foundation of its new plant located in Vietnamese port, Haiphong. The company is planning to expand its manufacturing capacity for Asia region as it is one of the fastest growing markets. In this new plant, around 40 million square meters adhesive tapes will get manufactured every year.

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 key players in the construction adhesive tapes market.

3M is one of the leading diversified technology company, which manufactures industrial, safety, and consumer products. The company offers a wide range of products, including adhesives, bonding materials, coatings, and specialty materials. 3M operates through five business segments, namely, industrial, safety & graphics, electronics & energy, health care, and consumer. The company manufactures and provides construction adhesive tapes for various applications through its industrial business segment. The company has production plants in 37 countries around the world and offers products and solutions to customers in more than 200 countries worldwide.

Nitto Denko Corporation is worldwide supplier of wide varieties of adhesive tapes having applications in multiple end-use industries. The company is well reputed as a pioneer in segment of pressure-sensitive adhesives mainly by innovating and developing variety of new products and technologies. The company offers its variety of products through four main business segments named as optronics, industrial tape, life science, and other. From industrial tape segment, company offers construction adhesive tapes. The company has well established supply chain network in Japan, Americas, Middle East & Africa, East Asia, and Southeast Asia & Oceania.

Berry Global Inc. is globally well-known manufacturer of innovative packaging and variety of engineered products for multiple end-use industries. The company offers its products through main four products segments named as consumer packaging international, engineered materials, health, hygiene & specialties, and consumer packaging North America. Through engineered materials segment, company offers construction adhesive tapes for various applications. The company has more than 300 production facilities across the world to cater the demands of its customers from various markets including building & construction, agriculture & horticulture, animal & pet care, DIY, homecare, healthcare, and many more.

Related Reports:

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 2027

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