Masking tapes market is estimated to be valued at USD 5,653.7 Mn in 2024, growing at a CAGR of 4.6% over the forecast period (2024-2031). Furthermore, increasing investments in infrastructure development projects across the globe are further propelling the demand for masking tapes.
The growth of the global masking tapes market is driven by increasing construction activities as well as the growing automotive industry worldwide. Masking tapes find wide applications in construction for masking purposes during painting and finishing works. Moreover, they are also used in the automotive industry for masking components during surface treatments such as painting. According to United Nations data, the global construction output is projected to grow by 85% to reach USD15.5 trillion by 2030. Similarly, automotive production has been increasing annually with developing regions spearheading growth. This rising demand from the construction and automotive industries is expected to propel the masking tapes market during the forecast period.
Growth in Automotive Industry is Fueling the Demand for Masking Tapes
Masking tapes are extensively used in the automotive industry during painting and surface protection processes. They help protect components that are not meant to be painted. The growing automotive production around the world is translating to the increased consumption of masking tapes. According to various estimates, the global vehicle production is expected to increase by over 30% in the coming five years.
Increasing Infrastructure Development Projects are Boosting Masking Tapes Usage
Massive infrastructure development is taking place globally as many countries seek to boost economic growth through construction activities. Be it roadways, bridges, buildings, or other civil engineering structures – masking tapes find wide application during their construction. They help cover non-paintable surfaces, provide protection from dust, debris, and others during surface preparations and painting stages of infrastructure projects. The ongoing infrastructure push by nations has thus augmented the usage of masking tapes. Large-scale projects such as high-speed railroad constructions in China, road expansion programs in the U.S., and airport development plans across Asia Pacific will sustain requirements for masking tapes in the coming years.
Fluctuating Raw Material Prices Pose Challenge
Masking tapes rely on raw materials like plastic backings, adhesives, and release coatings – prices of which can fluctuate heavily depending on global petrochemical trends and demand-supply dynamics. Sudden spikes in prices of key raw ingredients increase production costs for masking tape manufacturers. It also shrinks profit margins, especially when end-product prices cannot be increased immediately. The volatile nature of raw material costs makes gross margins unpredictable, posing a major challenge. Additionally, supply chain disruptions caused by geopolitical issues or natural calamities can negatively impact the raw material supply and availability for masking tape producers.
Difficulty in Disposing Used Masking Tapes
Used masking tapes are difficult to dispose off due to their adhesive nature. They often cannot be included with regular trash and require special treatment. This creates an environmental burden. Strict regulations regarding waste disposal and recycling are compelling manufacturers to address the issue of post-use management of masking tapes. However, developing cost-effective and environment-friendly solutions for collection and processing of used tapes remains a challenge. The disposal problem shrinks the overall demand potential for masking tapes from environmentally-conscious customers and regions with tougher environmental protection laws.
Growing E-commerce Sector Spurs Opportunities
The exponential growth of online retail has boosted the demand for logistics, packaging, and warehousing globally. Masking tapes help provide protection and fix components during shipping, storage, and logistics operations of e-commerce companies. Their diversity in terms of grades, adhesive strength and sizes allows their usage across various packaging and labeling applications in e-commerce fulfillment ecosystems. Moreover, more companies are shifting to online sales channels, augmenting the volumes moving through supply chains—indirectly driving masking tape consumption. The booming e-commerce sector thus presents significant opportunities for market participants over the coming years.
Rise of Do-It-Yourself (DIY) Culture to Boost Demand
People worldwide are increasingly getting interested in DIY projects related to home improvements, arts & crafts, woodworks, and others. Masking tapes are essential while painting walls, decorating surfaces, wrapping gifts, and other creative DIY activities. The growing popularity of do-it-yourself culture supported by online tutorials and communities has been widening the domestic demand base. The DIY trend is most prominent among Millennials and Gen Z populations.
With these demographics projected to dominate consumer profiles in the future, the masking tapes market can leverage the expanding DIY culture tailwinds. Manufacturers must devise varieties catering to evolving requirements of individual consumers and hobbyists.
*Link: https://www.coherentmarketinsights.com/market-insight/masking-tapes-market-4928
Key Developments
- In February 2024, Rogers Corporation introduced the DeWAL Plasma X Plasma Spray Masking Tape
- Norton unveiled a fresh automotive masking tape in October 2021.
- Tesa introduced a user-friendly masking tape in 2020, designed to assist manufacturers and operators in streamlining painting applications.
- Bostik introduced two innovative tape and label adhesives in India in 2022.
Key Players
3M , PPM Industries SpA, Mas Corporation, CMS Group of Companies, TESA India, Nitto Denko India Pvt. Ltd, Intertape Polymer Group, Avery Dennison Corporation, Berry Global, Scapa , Saint-Gobain Performance Plastics, Ajit Industries Private Limited, Lohmann Adhesive Tapes, Adhesive Specialities, Mirka India Pvt. Ltd., STARCKE ABRASIVES INDIA PVT. LTD., Klingspor India Pvt. Ltd., Sumax Engineering (P) LTD, KOVAX CORPORATION, and TOYOCHEM Co. Ltd.