Waterproof Tapes Market - Forecast(2025 - 2031)
Waterproof tapes are available in various materials which include acrylic, silicone, butyl, plastic such as polyethylene and more. They are used for a wide range of industries that include building & construction, automotive, electrical & electronics, packaging and other industries. The lockdown had significantly reduced construction activities as a result of the country-wise shutdown of manufacturing sites, shortage of labor and the decline of the supply and demand chain all across the world, which temporarily halted construction projects.?
This, in turn, affected the waterproof tapes industry since they are primarily used at construction sites to protect the buildings against water by covering gaps in ceilings, walls, flooring and other similar applications, thus, affecting the waterproof tapes market. However, a steady recovery in construction activities has been across the world since 2022, which in turn, is driving the demand for waterproof tapes. For instance, according to recent insights from the World Cement, the global construction industry output increased by 5.9% in 2023. An increase in building & construction activities along with the surging demand from the automotive sectors is expected to drive the growth of the waterproof tapes market size in the upcoming years. On the other hand, the fluctuating prices of raw materials may confine the market growth.
Waterproof Tapes Market Report Coverage
The “Waterproof Tapes Market – Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Waterproof Tapes Market.
By Material: Acrylic, Silicone, Butyl, Plastic (Polyethylene, Polyethylene Terephthalate, Polymethyl Methacrylate), Cloth.
By Type: Waterproof Reflective Tape, Drywall Tape, Nonslip Waterproof Tape, Gaffer Tape and Duct Tape.
By End-Use Industry: Building & Construction (Residential Construction, Commercial Construction, Industrial Construction), Automotive (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Marine (Passenger Ships & Cruises, Heavy Load Carriers), Electrical & Electronics, Healthcare, Packaging, Others.
By Geography: North America (USA, Canada and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Denmark, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and the Rest of Asia-Pacific), South America (Brazil, Argentina, Colombia, Chile and the Rest of South America), the Rest of the World (the Middle East and Africa).
Key Takeaways
? The silicone material held the largest share in the Waterproof Tapes Market in 2023. Its wide range of characteristics and excellent water resistant properties made it stand out in comparison to other materials in the market.
? Building & construction industry held a significant share in the Waterproof Tapes Market in 2023, owing to its increasing demand from the construction sectors across the world. Waterproof tapes are primarily applied in application areas such as joints, doors, windows and floors, where water and air can enter the buildings and help in creating a complete waterproofing system in a building.
? Asia-Pacific dominated the Waterproof Tapes Market in 2023, owing to the increasing demand for waterproof tapes from construction sectors in the region.
? A detailed analysis of strengths, weaknesses, opportunities and threats will be provided in the Waterproof Tapes Market Report.
Waterproof Tapes Market Segment Analysis – By Material
The silicone material held the largest Waterproof Tapes Market share of over 32% in 2023, owing to its increasing demand due to the benefits it offers over other types of materials. For instance, silicone offers excellent elasticity, flexibility and water resistant properties in comparison to acrylic, cloth and other types of materials. They also offer higher durability along with better chemical resistance and weather resistance as compared to other materials. Moreover, waterproof tapes made of silicone do not deteriorate as quickly as other types of materials and are ideal for long-term applications. Hence, all of these benefits are driving its demand over other types of materials, which in turn, is expected to boost the market growth during the forecast period.
Waterproof Tapes Market Segment Analysis – By End-Use Industry
The building & construction industry held a significant Waterproof Tapes Market share of over 25% in 2023, owing to its increasing demand from the construction sectors across the world. Waterproof tapes composed of acrylic, silicone, butyl and more are commonly used for creating a barrier between the building and the water in order to protect the building against water. They are applied in building envelopes such as windows, doors, roofs and nail holes, to prevent water leakage. The recent insights from the Construct Connect state that the US government has funded around US$ 20,000 for the construction of a real estate and development project called One Central project in Chicago.?
In this way, such surging construction activities across the world are expected to increase the demand for waterproof tapes, owing to its above-mentioned benefits. This is expected to expand the waterproof tapes market size during the forecast period.
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Waterproof Tapes Market Segment Analysis – By Geography
Asia-Pacific held a dominant Waterproof Tapes Market share of over 38% in the year 2023. The consumption of waterproof tapes is particularly high in this region due to its increasing demand from the construction sector. For instance, the Ho Chi Minh City Committee in Vietnam announced the commencement of building a high-rise commercial-financial service condominium Tower in Tan Phu District which is due for delivery by the end of 2023. Likewise, the development of a high-rise condominium with commercial services, in Ward 16, District 8 of Ho Chi Minh City, is undergoing development and is expected to be completed in 2024.?
The excellent waterproofing and airtight performance of waterproof tapes make them ideal for use in construction sites to cover gaps in walls, ceilings and flooring as they prevent the entry of water such as rainwater into a building. They are also used for closing gaps in building windows, doors, roofs and nail holes, to prevent water leakage. Thus, such surging development associated with the construction sector in the region is expected to increase the demand for waterproof tapes, owing to their above-mentioned usage. This is expected to accelerate the growth of the market during the forecast period.
Waterproof Tapes Market Drivers
An increase in construction activities
Construction activities are considered to be the pillar of growth for a country and also play a major role in increasing the overall global economy. The factors such as urbanization and the rapid pace of development to aid the economic growth of the countries are driving the construction activities in multiple regions across the world. For instance, according to Volvo CE, the construction sector saw an increase in construction activities across multiple regions since the fourth quarter of 2023. South America saw an increase of 13%, Asia by 38%, Europe by 25% and China by 31% in 2023. Hence, an increase in global construction activities is expected to increase the demand for waterproof tapes for use in construction sites to cover gaps in building walls, ceilings, flooring windows, doors and other similar applications of residential or commercial buildings. This is anticipated to drive the growth of the market in the upcoming years.
Surging demand from the automotive industry
Waterproof tapes are primarily used in the automotive industry for general automotive-assembly applications which include securing water shedders inside doors, cable wrapping, fixing wiring to vehicle floors and shell chassis, along with automotive maintenance and repair applications.? The new facility will be responsible for the assembly of a new electric vehicle and aims at increasing electric vehicle production in the country. Hence, an increase in production from the automotive industry is expected to increase the demand for waterproof tapes for use in general automotive assembly, maintenance and repair applications. This is expected to propel the market growth in the upcoming years.
Waterproof Tapes Market Challenges
Fluctuating prices of raw materials may confine the market growth
Some of the raw materials for waterproof tapes are obtained from crude oil. As a result, fluctuations in the prices of crude oil may hinder the growth of the market. As per revised estimates for 2024-30, the COB will be increasing by around 41% from its initial budget estimate. In this way, the uncertainty regarding the price of crude oil also increases the price of raw materials required for the production of waterproof tapes. Thus, such instability and fluctuating prices of raw materials may confine the growth of the waterproof tapes industry during the forecast period.
Waterproof Tapes Industry Outlook
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Waterproof Tapes Market. The top companies in Waterproof Tapes Market are:
Acquisitions/Technology Launches:
In June 2022, tesa, an international manufacturer of innovative adhesive tapes and self-adhesive system solutions, launched an assortment of flame-retardant adhesive tapes. The tesa flameXtinct tape, initially successful in the construction industry, has now found applications in the transport industry and passenger transport.
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