The global masking tapes market was valued at US$ 4,300 million in 2020, according to the Global Masking Tapes Market Report, by Product Type (Single Side and Double Side), by Material Type (Foam, Foil, Paper- based, Plastics, and Others (Glass Fiber, etc.)), Adhesive Type (Acrylic-based Adhesives, Rubber-based Adhesives, and Others (Silicone-based Adhesives,), By Application (Painting, Plating, Abrasive Blasting, High-Temperature Applications, Thermal Spraying, General Use, and Others), By End-use (Automotive, Building & Construction, Aerospace, General Industry, Residential, and Others (Electronics, etc.)), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.
The global masking tapes market is expected to surpass US$ 8007.00 million by 2028 and exhibit a CAGR of 5.20% during the forecast period (2021-2028).
Masking tapes are specifically developed to help protect surrounding surfaces from overspray, provide clean paint lines, and remove easily and cleanly when finished. These tapes are majorly used across various end-use industries such as automotive, building & construction, aerospace, and general industry, owing to their ability to provide perfectly sharp edges. These tapes are easy to use and are removable without leaving any residue even on the most delicate surface. Rapid growth in the construction sector will support the growth of the masking tapes market. Besides this, expanding automotive and general industries will fuel the demand for masking tapes required in printing applications.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/masking-tapes-market-4928
Browse 50 market data tables* and 40 figures* on “Masking Tapes Market” - Global Forecast to 2028.
Key Trends and Analysis of the Masking tapes Market:
- Among regions, Asia Pacific held a market revenue share of 38% in 2019 in the global masking tapes market. This growth is attributed to growing automotive and construction industry in emerging economies such as China and India. According to the Indian Builders Association, the Indian construction industry is expected to register a growth of 13% in real terms in 2021 – following a decline of 12.4% in 2020, owing to favorable government policies and growing disposable income.
Key Takeaways:
- By end-use, the building & construction segment accounted for a market value share of 53% in 2020 and is expected to increase to 55% by 2028. Masking tapes are pressure-sensitive tapes that are primarily employed during painting in construction activities. These tapes are available in a various strengths and widths, which are dependent on the adhesive strength. Demand for masking tapes is growing in the construction sector due to the expansion of manufacturing infrastructure, easy availability of raw materials, and rampant urbanization in emerging economies such as China, Brazil, Mexico, and India.
- Major players operating in the global masking tapes market include PPI Adhesive Products, PPM Industries SpA., Scapa, Shurtape Technologies, tesa SE, Ubis, 3M, CCT Tapes, K.L. & Ling, Avery Dennison Corporation, CMS Group of Companies, Nitto Denko Corporation, and TOYOCHEM Co. Ltd. Key players are focusing on implementing strategies such as acquisitions and mergers to gain a competitive edge in the global market.
Global Masking Tapes Market - Impact of Coronavirus (COVID 19) Pandemic
The global masking tapes market has been negatively impacted due to the ongoing COVID-19 pandemic. This can be attributed to the imposition of lockdown, travel restrictions, and shutdown of manufacturing facilities. The unavailability of raw materials required for manufacturing of various industrial products had further hampered the demand for masking tapes. However, the restarting of international trade and ease of trade restrictions are expected to generate the demand for masking tapes in the near future. The reopening of manufacturing facilities is also expected to boost the global masking tapes market over the post-pandemic period.
