According to the most recent Emergen Research analysis, the global waterproof tape market is expected to reach USD 23.81 billion in 2030, with a 6.9% revenue CAGR over the forecast period. Rising demand from the electrical & electronics and building & construction industries is driving revenue growth in the waterproof tape market. Waterproofing tapes are used to prevent water from entering building structures and are highly preferred due to their excellent water ingress performance and ease of use. Waterproof tape is also being used more frequently in electrical and electronic applications to avoid mishaps caused by water coming into contact with electricity and to protect electronics from water damage.
Drivers include capacity expansion to meet rising demand.
Many manufacturers use capacity expansion as one of their strategies to increase business volume. Increasing demand always necessitates increased production capacity, but it should also be understood in terms of a critical value chain zone, which is an investment. Capacity must therefore be defined in terms of process machinery and manpower. Manufacturers typically pursue a “lead capacity strategy,” in which they look for developing countries that will serve as future industrial hubs. Most developing countries have plenty of room for development, construction, and new industrial setup, and waterproof tapes are in high demand due to their low cost and durability.
Waterproof tapes are adhesive tapes that are designed to be water-resistant or waterproof. These tapes are used in a variety of applications, including duct sealing, plumbing, window and door installation, and so on. Because waterproof tapes are thick, adaptable, and rubber-treated, they are used in a variety of industries including automotive, medical services, and packaging. During the forecast period, these factors are expected to drive demand for waterproof tapes.
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The Flex Seal Family of Products officially launched its newest and largest line of products on March 29, 2021, and Flex Tape is a part of the line. Flex Tape is an extremely strong waterproof tape that can instantly patch, bond, and seal virtually anything. It can be used on both dry and wet surfaces and even underwater. The strong adhesive on Flex Tape bonds instantly to almost any surface and actually gets stronger with time and pressure.
Because of the increasing adoption of waterproof tape, the building and construction segment is expected to account for a large revenue share in the global market over the forecast period. These tapes are commonly used to create a barrier between structures and water in order to protect them from the latter. Waterproofing tapes are used to solve flow problems in the building envelope where there is moisture and airflow, such as around doors, windows, and nail holes. They can also be used in roofing systems to prevent rain-related leaks. Furthermore, waterproofing tape can be used in bathrooms, kitchens, patios, balconies, and commodes. Waterproofing tapes can also be used to insulate water, which is useful in moving joints, pipe transitions, pool crack repairs, and other places.
The North American market is expected to have the highest revenue share during the forecast period, owing to the region’s rapid growth in the building and construction industry. For example, the income of the construction sector in the United States increased by 2.4% in the five years leading up to 2021, reaching USD 2.4 trillion. As it begins to recover from COVID-19, the economy is expected to grow by 2.6% in 2021 alone. As a result, the region’s growing construction industries are increasing demand for waterproof tape, driving market revenue growth.
3M, Nitto Denko Corporation, Tesa Tapes Private Limited, Johnson & Johnson Private Limited, Henkel Adhesives Technologies Private Limited, Medline Industries, Inc., Furukawa Electric Co., Ltd., Avery Dennison Corporation, Scapa Group Ltd., Teraoka Seisakusho Co., Ltd. are some of the major companies operating in the global market.
Emergen Research has segmented the global waterproof tape market based on resin type, substrate type, end-use, and region:
Resin Type Outlook (Revenue, USD Million; 2019–2030)
Substrate Type Outlook (Revenue, USD Million; 2019–2030)
End-Use Outlook (Revenue, USD Million; 2019–2030)
- Building & Construction
- Electrical & Electronics
Regional Outlook (Revenue, USD Million; 2022-2030)
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- North America