ALBANY, N.Y., Feb. 3, 2021
- The booming construction sector and the rapid urbanization across the globe may prove to be fruitful for the global construction tape market between 2020 and 2030
- As per the growth projections, the global construction tape market is expected to expand at a CAGR of 4 percent during the assessment period of 2020-2030
ALBANY, N.Y., Feb. 3, 2021 /PRNewswire/ -- The construction tape market is anticipated to observe promising growth across the assessment period of 2020-2030. The rising number of construction sites around the world due to rapid urbanization may serve as a prominent growth contributor for the construction tape market. In addition, the adoption of lightweight materials for protection and bonding purposes may further enhance the growth prospects of the construction tape market.
Construction tapes are used in residential, industrial, and commercial buildings for mounting and building components on decorative trims, wall coverings, panels, frames, protective bumper rails, walls, and others. This functionality increases the demand for construction tapes to a great extent.
The researchers at Transparency Market Research (TMR), after a 360-degree analysis on all the growth factors, conclude that the global construction tape market will expand at a CAGR of 4 percent during the forecast period of 2020-2030.
The ability of the construction tapes to withstand longer in higher temperatures is proving to be a boon for the growth of the construction tape market. The increasing demand for adhesive tapes in the construction industry due to numerous beneficial properties will expand the growth prospects of the construction tape market considerably. The growing number of construction activities across the globe will help in escalating the growth rate of the construction tape market substantially.
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Key Findings of the Report:
Infrastructure Development in Asian Countries to Invite Tremendous Growth Opportunities for Construction Tape Market
The swift urbanization and industrialization in densely populated countries like India and China will invite immense growth opportunities for the construction tape market. The rising expenditure of the governments of these countries on infrastructure development may further add extra stars of growth to the construction tape market. The recently concluded Union Budget of India announced a slew of measures and investments in the infrastructure and the construction sector. Thus, such developments will help in improving the growth rate of the construction tape market.
Cost-Effectiveness to Reign Supreme for Growth of Construction Tape Market
The players in the construction tape market are involved in constant research and development activities to make the tapes more convenient and useful for the end-users. The players also try to make the tapes more affordable to increase their revenues. Thus, this aspect will help in increasing the growth prospects of the construction tape market to a certain extent.
Analyze global construction tape market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Fluctuating Raw Material Prices to Prove as Growth Restraint for Construction Tape Market
The prices of the raw materials used in construction tapes are volatile and constantly changing, thus inviting grave loss for the manufacturer as he has to adhere to the selling prices. Thus, this aspect will serve as a growth obstacle for the construction tape market.
Explore 153 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into the Construction Tape Market (Product Type: Masking Tape, Duct Tape, High Temperature Polyester Tape, High Temperature Polyimide Tape, Aluminum Tape, and Others; Distribution Channel: Direct Sales and Distributers/Wholesalers; and Application: Construction, Sports & Recreation, Yachts Builders, and Others) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030 at https://www.transparencymarketresearch.com/construction-tape-market.html
Construction Tape Market: COVID-19 Impact
The strict lockdown restrictions implemented by numerous countries to decrease the spread of COVID-19 attracted tremendous loss for the construction industry. The construction sector was plagued with problems like labor shortage, manufacturing difficulties, and raw material shortage. These aspects made a dent in the growth of the construction tape market for a brief time.
However, with the announcement of lockdown relaxations and COVID-19 vaccines, the construction activities are slowly returning to normalcy, eventually increasing the growth prospects of the construction tape market.
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