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Global Masking Tapes Market Was valued at US$ 4.5 Bn In 2019. It Is Projected To Witness A CAGR Of 5% During The Forecast Period (2020-2028).
The demand for masking tapes is growing rapidly for various applications such as labelling, sealing, insulating, installation, bonding & mounting in various end use industries during forecast period (2020-2028). The global Masking Tapes market is anticipated to rise at a considerable rate during the forecast period.
Shifting focus towards hybrid, lightweight electric vehicles in recent times has changed the overall market scenario of the global automotive industry. Manufacturers are investing their capital to not only expand their automobile manufacturing clusters but also for upgradation of the manufacturing plants. The result is likely to lead to the increasing demand for various solutions for the manufacturing process of auto vehicles, ultimately contributing to the growth of the masking tapes market globally. Furthermore, the rapidly growing aerospace industry in various regions and high adoption of high barrier and tamper evident masking tapes in the industry is also significantly driving the masking tapes market.
Various benefits offered by masking tapes are also expected to boost the growth of masking tapes market. For instance, masking tapes are easy to use, non-sticky when compared to other adhesives available in the market.
Construction Industry Had Accounted For A Significant Share Of 50% In 2019 And Is Expected To Remain Dominant During The Forecast Period.
Rapid Growth of the masking tapes market is deeply associated with the region's construction market. The wide application scope of masking tapes in the construction industry is becoming a important driving force for the market's overall growth. Through the year 2027, signficant share of global masking tapes market value will be attributed by their end-use in building and construction industry.
Rapidly growing construction industry in Asia Paciifc is expected to boost the growth of the market. High adoption of masking tapes in construction industry and end user’s preference towards masking tapes is boosting the share of construction industry.
By Material Type, Paper Is Expected To Witness High Demand during Forecast Period
Paper accounted for a signficant share of xx% of global masking tapes market in 2019 and is expected to remain dominant during the forecast period. The masking tapes market is anticipated to be classified into paper, plastic, foam, and others, according to type of backing material. Out of these markets for masking tapes, paper is widely used material type having share of xx% in the upcoming forecast period (2020-2028). As per the study, the paper market could be valued at a US$2.7 bn by the completion of year 2022. Between the year 2017 and 2022, paper could grow at a US$0.1 bn annually. Paper is preffered by various manufacturers and end users owing to the fact that it is eco-friendly in nature. Mnay manufacturers are preferring paper over plastic owing to a ban on plastic in various geographies across the globe.
Asia Pacific Is Likely To Dominate the Global Masking Tapes Market during Forecast Period (2020-2028)
The Asia-Pacific dominated the masking tapes market and is anticipated to continue so during the forecast period (2020-2028). Asia is one of the major markets for masking tapes, owing to the massive production of appliances, and health care products.
The main and important factors that boost the growth of masking tapes market are high usage of masking tapes in diverse applications and increasing demand of masking tapes in Asia-Pacific. These are the major factors that boost the growth of masking tapes market globally.
The Asia-Pacific market is mainly led by the automotive and packaging industry that is expected to grow signficiantly during the forecast period. The demand for low-cost flexible packaging has been tremendously growing in Asia-Pacific due to a fixed rise in food exports and development in the food-processing sectors. And packaged food demand is also increased by changing lifestyle, shifting preferences towards modern food habits and workplace habits.
Masking tapes market is moderately consolidated with some leading and local players such as 3M Company, Nitto Denko Corporation, Lintec Corporation, Avery Dennison Corporation, Intertape Polymer Group, Inc., Shurtape Technologies, LLC., Tesa SE, Scapa Group PLC, Lohmann GmbH & Co. Kg, Nichiban Co. Ltd., Sekisui Chemical Co., Ltd., etc.
Masking tapes Market Segmentation:
Global Masking Tapes Market by Application
- Building & Construction
- Electricals & Electronics
- Consumer Goods
- Furniture & Decorations
Global Masking Tapes Market by Material Type
- Glass fibre
Global Masking Tapes Market by Product Type
Global Masking Tape Market by Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa