Global Construction Tape Market Insights, Potential Business Strategies, Mergers

Posted by Fred Williams on March 26th, 2021

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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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.