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Waterproof Tapes Market Size To Reach $23.22 Billion By 2030

The global waterproof tapes market size is expected to reach USD 23.22 billion by 2030, registering a CAGR of 6.3% from 2024 to 2030, according to a new report by Grand View Research, Inc. This growth can be attributed to the rising awareness of waterproofing to prevent water damage, structural weakening, and bacteria growth. The end-users are applying effective waterproofing systems to structures and buildings to ensure durability, safety, and long lifespan. The growing construction sector across the globe is further driving the product demand as it used in residential and commercial structures to protect them from water and moisture.

These tapes are considered crucial for sealing cracks, seams, and joints in various construction projects as they are attributed to encounter water. In addition, in areas prone to floods and other natural disasters, waterproofing systems are essential to protect the structure as well as populations. Furthermore, there is a growing emphasis on sustainable and green building construction, which is driving the demand for eco-friendly construction materials, such as waterproof tapes. The manufacturers are also involved in production of tapes with sustainable raw materials, which have less impact on the environment, thereby, complying with sustainable construction codes and standards.

The market is witnessing technological advancements in terms of production techniques and raw materials used for manufacturing. The emergence of new materials, such as nanoparticles, advanced polymers, and coatings, produced with nanotechnology is offering new growth opportunities to the manufacturers of waterproof tapes. Tapes produced using these materials help in improving the product performance and durability. The value chain of the industry comprises raw material suppliers, product manufacturers, distributors, installers, and end-users. Various raw materials used for production includes adhesives, such as silicones, rubber, acrylic, and backing materials, such as polyethylene, PVC, and several additives.

Furthermore, the industry serves various end-user industries including construction, automotive, electronics, packaging, and healthcare. This makes the market highly end-user-concentrated as they have a wide range of options to choose from. There are various product substitutes, such as waterproof sealants, membranes, adhesives, heat-activated tapes, and self-adhesive tapes. However, there are several factors to consider while choosing the type of product, such as cost-effectiveness and durability. Furthermore, the product also faces internal substitution on account of the presence of many backing materials, substrate types, and resin types.

Waterproof Tapes Market Report Highlights

Butyl resin is used in waterproof tapes on account of its non-toxic properties, which makes it an ideal option for the healthcare sector as it is safe to wear on the skin to protect wounds. In addition, products made from butyl resin can be used for different surfaces, such as metals, fabrics, and plastics
The rubber substrate segment is expected to witness significant growth from 2024 to 2030 due to the ability of these substrates to maintain flexibility at high temperatures, which helps in the easy application of a product on challenging and irregular shapes, ensuring an effective layer of barrier between moisture and structure
The automotive application segment accounted for a revenue share of around 18% in 2023. In the automotive sector, the product is used for a wide range of applications, such as maintenance, sealing of interior structures, and other assemblies
In addition, with the growing production of electric vehicles(EVs), the product demand is expected to increase in this segment. Protecting the interior assemblies of EVs is highly crucial for driver safety and vehicle durability
North America accounted for the largest revenue share of 27% in 2023. The region consists of countries with established end-use sectors, such as construction, electronics, automotive, and healthcare, which is driving product demand in the region

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Waterproof Tapes Market Segmentation

Grand View Research has segmented the global waterproof tapes market on the basis of resin type, substrate type, end-use, and region:

Waterproof Tapes Resin Type Outlook (Volume, Kilotons; Revenue, USD Billion, 2018 - 2030)