Global Waterproof Tapes Market - 2021-2028
The global waterproof tapes market size was worth US$ YY million in 2020 and is estimated to reach US$ YY million by 2028, growing at a CAGR of YY % during the forecast period (2021-2028).
Waterproofing tape adheres to the applied surface, helps to make the building waterproof. It creates a complete waterproofing system by applying in application areas such as joints and in places such as windows, doors, sewage, piping, roof and others where water and air can enter the buildings.
Waterproofing tapes are butyl or bitumen-based, cold applied, one side is coated with colored mineral or aluminum foil and the other is adhesive. The protective cover on it is removed and adhered to the application surface and provides protection. Waterproofing is important in making the buildings built ready to live, which decreases the chances of mold, rot and corrosion occurring.
Based on adhesive, the waterproof tapes market is segmented into silicone, acrylic, butyl and others. Silicone waterproof tapes are expected to dominate the market due to their unique chemical structure, resistance to pressure and temperature. Therefore, these tapes are one of the most commonly used complementary waterproofing materials.
Infrastructure development plans and additional support from policies are to drive the waterproof tapes market. In addition, framework advancement in residential housing and infrastructure such as air terminals, extensions, dams and metro stations support the market. However, stringent environmental regulations regarding volatile organic compounds (VOC) emissions are expected to hinder.
Infrastructure development plans and additional support from policies to drive the market
The strong housing market and low interest rates have supported the real estate business. The construction industry is poised to benefit from the resurgence in infrastructure spending. Therefore, construction companies are looking to invest in new technology for the job site and in the back office to benefit from negative inflation-adjusted interest rates.
Moreover, the government's policy and the fiscal response have allowed for stability in the property markets, making it better for investors. For instance, as per The Associated Press, in June 2021, a bipartisan agreement had been reached on a $973 billion infrastructure plan in U.S. The pared-down plan calls for $559 billion in new spending over five years.
The major players are developing and introducing more efficient products, thus contributing to the growth of the waterproof tapes market in housing and construction. For instance, 3M Sealing Tape 8777 is a self-adhered, waterproof membrane designed for sealing. The product has a unique acrylic pressure-sensitive adhesive that aggressively sticks and stays stuck at lower and higher application temperatures. It is suitable for sealing joints around sills, jambs and heads of rectangular windows in wood frame construction and exterior walls. Henceforth, growing commercial uses are anticipated to drive the market.
Framework advancement in residential housing and infrastructure such as air terminals, extensions, dams and metro stations drive the market
Waterproof tapes are utilized in different applications, including cover laying, tile establishment, backdrops and outside protection frameworks in the infrastructure and construction business. These applications have prodded the development waterproof tapes market.
Moreover, the expanding interests in framework advancement like air terminals, extensions, dams and metro stations drive interest in cementing ground surface, development joints, boards and different applications. Additionally, the expansion in the working class populace has brought about ascent popularity for houses. It is relied upon to drive the waterproof tapes market growth.
Stringent environmental regulations regarding volatile organic compounds (VOC) emissions are expected to hinder the market
Environmental regulations and specifications from international bodies, federal, state, local governments and NGOs are becoming prevalent. For instance, CARB (California Air Resource Board) regulations and LEED (Leadership in Energy and Environmental Design) certification requirements are required at the forefront of regulatory issues involving adhesives. However, the introduction of paper and bioplastic-based adhesive tape, considered stable, safe and eco-friendly. Therefore, it is likely to gain popularity, owing to rising awareness regarding environmentally safe products over the forecast period.
Based on adhesive, the waterproof tapes market is segmented into silicone, acrylic, butyl and others.
Silicone waterproof tapes are expected to dominate the market due to their unique chemical structure, resistance to pressure and temperature.
The unique chemical structure of silicone offers excellent adhesion properties. Silicone bonds can resist pressure, stress and can be stable over extreme temperature conditions. Due to their versatility, silicone adhesives and sealants deliver reliable and long-lasting adhesion to different substrates ranging from glass, metals and plastics.
Furthermore, silicone material maintains its properties over a long period and gives an excellent performance compared to other materials. The unique properties of silicone adhesives and sealants make it suitable for various applications in electronics, construction and medical tapes in the healthcare industry.
Therefore, the major players are innovating and launching products, contributing to the growth of silicone-based waterproof tape. For instance, in March 2021, an American brand named Flex Seal launched Flex Tape. It is an extremely strong waterproof tape that can instantly patch, bond and seal. It can be applied on dry or wet surfaces and it even works underwater. In addition, Flex Tape's powerful adhesive bonds instantly adhere to almost any surface and get stronger with time and pressure.
Moreover, 3M developed 3M Wrap & Repair Silicone Tape. It is a self-fusing tape that creates an air and water-tight seal for hose, plumbing, electrical and tool repairs. The product is resistant to friction, heat and UV and withstands extreme temperatures of -85 degrees F to 500 degrees F.
The waterproof tapes market is segmented into North America, Europe, South America, Asia-Pacific and Middle East & Africa based on geography.
The Asia-Pacific dominates the waterproof tapes due to increased demand for foam backing material in double-sided products, widely used in various building applications. In addition, high volume growth has been noted for PVC backing material because of its properties, such as resistance to heat and dimensional stability, contributing to its increased usage in the growing construction industry in the region.
Besides, the government of China has massive construction plans, including making provisions for the movement of 250 million people to its new megacities. In addition, as per the National Bureau of Statistics, real estate investment in China rose 7.0% in 2020 from 2019, accelerating from a 6.8% gain in the first 11 months of the year. Moreover, Japan's growing demand for waterproof tapes can be attributed to improved economic conditions, infrastructure development plans and additional support from policies.
The waterproof tapes market is moderately competitive with the presence of local as well as global companies. Some of the key players contributing to the market's growth include 3M, DuPont, Huntsman International LLC., Henkel Adhesives Technologies India Private Limited, Chowgule Construction Chemicals, Johnson & Johnson Services, H.B. Fuller Company, Bostik, Sika AG, Ashland, among others. The major players are adopting several growth strategies such as product launches, acquisitions and collaborations, contributing to the growth of the waterproof tapes market globally.
Overview: 3M is a multinational, American conglomerate corporation operating in U.S. health care, worker safety and consumer goods. It is headquartered in Saint Paul, Minnesota, U.S. The company produces over 60,000 products under several brands, including adhesives, abrasives, laminates, passive fire protection, personal protective equipment, films, electrical and electronic connecting and insulating materials, medical products and many others.
Product Portfolio: 3M offers 3M Sealing Tape 8777, a Wrap & Repair Silicone Tape. A self-adhered tape creates an air and water-tight seal for hose, plumbing, electrical and tool repairs. The product is resistant to friction, heat and UV and withstands extreme temperatures of -85 degrees F to 500 degrees F.
In June 2018, 3M expanded its lineup of advanced adhesives tapes for medical devices with the addition of 3M 4077. It is a waterproof, single-coated medical extended wear adhesive non-woven tape that offers omnidirectional stretch for superior conformability and breathability. It offers excellent initial skin adhesion and a 14-day wear time due to its excellent water resistance capability.
Why Purchase the Report?
Visualize the composition of the waterproof tapes market segmentation by adhesive, substrate, end-user and region, highlighting the key commercial assets and players.
Identify commercial opportunities in waterproof tapes market by analyzing trends and co-development deals.
Excel data sheet with thousands of data points of waterproof tapes market - level 4/5 segmentation.
PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
Product mapping in excel for the key product of all major market players
The global waterproof tapes market report would provide access to an approx. 61 market data table, 58 figures and 180 pages.
Service Providers/ Buyers
Supply Chain Companies
Regional manufacturers' associations such as the European general waterproof Adhesive tapes
Traders, distributors and suppliers of waterproof tapes
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook