Analysis of Dry Wall Tapes market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
In 1939, Georgia, USA drywall taping tools surfaced up when two brothers Stan and Robert were figuring out new ways for finishing drywall. It is craggy paper tape that is designed in such a way to help in preventing water damage, tearing among many other advantages.The dry wall tapes market is expected to foray ahead with an exciting 6.9% CAGR over the assessment period.
Due to increase in the infrastructure expenditure across the globe along with bundled of advantages offered by product, demand curves of dry wall tapes are anticipated to rise.
Based on industry requirements, dry wall tapes are made up of various materials paper, thin fiber, glass fiber, metal etc. In 2020, paper accounted to hold the highest market share under dry wall tapes as manufacturers have implemented safety, easy to use, less installation time and other innovation majorly over paper material. Also, this paper tape tool is made recyclable that adds to its increasing adoption trend.
However, this method eliminates nail popping that reduces the cost of the process and also reduces the time and efforts of the individual that is basically helping in finishing work in real quick time.
As with the increase in the cases of COVID-19 patients and impact of the pandemic, countries are forced to impose lockdowns and maintain social distancing that lead to shutdown of the manufacturing plants, disrupting the import export chain ultimately leading to flattening the global economic curve.
This in result has disrupted almost every market and dry wall tapes market has also been affected largely. COVID-19 pandemic has presented massive disruptions in the demand supply equilibrium across multiple industries, leading towards economic losses at a global level. Plant shut downs in Europe, Asia and North America in the second quarter of 2020 has reduced the production scale of dry wall tapes. However, consistently upgrading work place safety measures and COVID-19 guidelines for worker safety would help the dry wall tapes market to bounce back strongly best by fourth quarter of 2020.
Based on regional split, the report “Dry Wall Tapes Market” takes into account six prominent regions including North America, Europe, Latin America, East Asia, South Asia and Oceania and Middle East & Africa. Of these, Asia Pacific collectively accounts for nearly 40% of the dry wall tapes market share in which China accounts the major share due to the growing paper and pulp industry. Well-established construction and manufacturing industries create a wide adoption pool for dry wall tapes, leading the regional market grow at a higher rate.
Being a consolidated market, players have dominant presence across regions through streamlined distribution networks. Scapa, USG BORAL, BUDNICK CONVERTING, ADFORS etc. are amongst the prominent players in dry wall tapes market accounting for over 70% of the market revenues.
Common organic growth strategies of increased tensile strength, exceptional wet strength and other associated properties have been witnessed across the regional players. Moreover, acquisitions, customizing the solutions or product up gradation are providing an upper edge to the market players.
However, regional clusters including Asia and Africa backing the local manufacturers is acting as challenge for the global players because they offer the product at comparatively high price significantly disturbing the overall dry wall tapes market revenues.
The research report presents a comprehensive assessment of the dry wall tapes market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The dry wall tapes market report provides analysis and information, according to market segments such as geographies, product type, material type and end use.
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The dry wall tapes report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The dry wall tapes report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The dry wall tapes report also maps the qualitative impact of various market factors on market segments and geographies.
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The global dry wall tapes market is bifurcated into five major segments: material type, application end use, and region.
On the basis of material type, dry wall tapes market has been segmented as follows:
On the basis of application, dry wall tapes market has been segmented as follows:
On the basis of end use, dry wall tapes market has been segmented as follows:
On the basis of geographic regions, dry wall tapes market is segmented as
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Well-established construction and manufacturing industries create a wide adoption pool for dry wall tapes, pushing the market growth at a higher rate.
Asia Pacific is expected to witness the highest growth over the forecast period, accounting for nearly 40% market share.
The major key players are Scapa, USG BORAL, BUDNICK CONVERTING, ADFORS, and others.
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