18 February 2019: Masking Tape Market was million US$ in 2018 and is expected to million US$ by the end of 2023, growing at a CAGR of between 2019 and 2023.This report studies the Masking Tape market size (value and volume) by players, regions, product types and end industries, history data 2014-2018 and forecast data 2019-2023; This report also studies the global Masking Tape market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter’s Five Forces Analysis.
Globally, the masking tape market is predicted to grow at CAGR of 5.2% over the next seven years, providing numerous opportunities for market players to invest for research and development in the masking tape industry. Masking tape, commonly referred as painter’s tape, is largely used in packaging as well as construction industry. Masking tape is considered as a type of pressure-sensitive tape that is manufactured from a thin and easy-to-tear paper. Masking tape is used along with a pressure-sensitive adhesive. Masking tape are found in variety of widths.
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The Global Masking Tape Market is subject to witness a substantial growth due to the robust growth in the building & construction industry and increasing number of infrastructural projects. Favorable government initiatives and increasing funding from local government authorities for development of various infrastructural projects such as smart city projects, particularly in the Asia Pacific region are expected to favor market growth of masking tape industry in the upcoming years.
Increasing adoption of masking tapes during development of bridges, tunnels, water supply, and roofing is expected to stimulate market growth in the upcoming years. Some of the typical applications of the masking tapes include cladding, glazing, and air conditioning. Wide range of application in building and construction is expected to promote industry expansion over the forecast period. Furthermore, increasing infrastructural spending and various infrastructure development activities in the BRICS economies such as Brazil, Russia, India, China and South Africa are predicted to expand market reach in the near future. Strong economic growth in the emerging economies across Asia Pacific region coupled with rising spending in current fiscal budgets are propelling market growth, in the recent years.
The masking tape market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in packaging and construction sector, development large-scale infrastructural projects in the region, and existence of well-established manufacturing infrastructure. Asia-Pacific region is predicted to hold major market share in the masking tape market with massive growth in forecast period.
Countries such as India, China and Singapore are leading the Asia-Pacific market with increasing demand for food & beverages industry, rising construction spending, growing demand from healthcare industry and significant investment by leading industry players considering potential growth opportunities in the region. The key players in the masking tape market are the 3M Company, Teas SE, Lintec and Nitto Denko Co., American Biltrite Inc., Adchem Co., Avery Dennison Co., and Jonson Tapes Ltd.
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Masking Tape Market by Geographical Regions:-
- North America
- Asia Pacific
- Middle East and Africa
- South America
Masking Tape Market by Applications:-
- Electronic & Electrical
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