The global masking tape market is on an upward trajectory, with estimations indicating a value of US$ 5,651.7 million in 2024, surging to an impressive US$ 8,800.8 million by 2034, boasting a robust Compound Annual Growth Rate (CAGR) of 4.5%. The market witnessed a valuation of US$ 5,358.7 million in 2023, reflecting the accelerating pace of growth and adoption within various industries.
Driving Forces:
The burgeoning building and construction sector spearheads the rapid expansion of the masking tape market. Beyond their traditional role in painting applications, masking tapes find versatile utility in labeling resources, contributing significantly to the market’s proliferation.
The surge in demand for eco-friendly solutions, epitomized by the advent of ‘eco-tapes’, further fuels market expansion. Manufacturers are responding to consumer preferences for sustainable products, driving innovation and diversification within the masking tape landscape.
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Key Market Trends:
1. Growth in the Automotive Sector: The automotive industry emerges as a key driver for masking tape demand, leveraging these tapes for precision painting and detailing processes. The intricate designs and multi-color schemes of modern vehicles necessitate the use of masking tapes, propelling market growth. Moreover, the rising adoption of luxury cars in regions like the Middle East & Africa and Asia Pacific amplifies demand, fueled by economic prosperity.
2. Easy Use and Convenience: Masking tapes offer consumers unparalleled convenience and efficiency, particularly for indoor activities. Their availability in extra-thin paper enables precise paint jobs, even on sharp edges, while their easy removal without residue enhances usability. The low-tacking property of masking tapes finds applications across renovation, furniture, decorative painting, and more, aligning with the growing demand for sustainable practices.
Growth Drivers in the Masking Tapes Industry:
- Expanding Construction Activities: Increasing construction projects worldwide fuel demand for masking tapes, driven by their critical role in painting and surface protection during building and renovation.
- Automotive Industry Boom: The automotive sector’s growth is a significant driver, with masking tapes being essential in automotive painting processes, creating a surge in market demand.
- DIY Home Improvement Trend: The rising trend of do-it-yourself (DIY) home improvement projects boosts the masking tapes market as consumers use these tapes for various tasks such as painting and crafting.
- Advancements in Adhesive Technologies: Ongoing innovations in adhesive technologies, including improved bonding and residue-free removal, contribute to the increased adoption of masking tapes across diverse industries.
- COVID-19 Pandemic Impact: The ongoing focus on hygiene and safety protocols, particularly in healthcare settings, drives the demand for masking tapes for secure and efficient sealing of protective equipment and packaging.
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Some of the leading companies:
- PPI Adhesive Products (C.E.) s.r.o.
- 3M Company,
- Shurtapes Technologies LLC.,
- Intertapes Polymer Group Inc.,
- Nitto Denko Corp,
- tesa SE Group
- Ahlstrom Corporation
- Saint-Gobain Performance Plastics Corporation
- PPI Adhesive Products (C.E.) s.r.o.
- Berry Global Group Inc.
Key Takeaways:
- By 2030, overall value of masking tapes industry will reach US$8.06 Bn
- In 2020, nearly 66.9% of materials used in masking tapes production were paper
- More than 90% of masking tapes sold worldwide are single-sided and over 50% sold have rubber-based adhesive
- Masking tapes are more commonly used in painting applications, which is expected to surge at 4.7% between 2020 and 2030
- Building and construction applications will continue rising. In 2020, the industry exhibited maximum demand for masking tapes
“Through 2030, nearly 40% of masking tape applications will be attributed by building and construction sector. This is one sector that will have exclusive attention from industry players. Companies are expected to launch cost-effective masking tapes and go-to tapes to offer industrial masking solutions. In line with soaring focus on the environment, some of them, including Monta, have launched compostable tapes. This will create ample growth opportunities for the market,” said a lead analyst at FMI.
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Masking Tapes Industry Key Segment
By Backing Material Type
- Foam
- Glass Fiber
- Foil
- Aluminium Foil
- Lead Foil
- Paper
- Crepe Paper
- Washi Paper
- kraft Paper
- Flatback Paper
- Plastic
- Polymide(PI)
- PVC/Vinyl
- Polyethylene Terephthalate/Polyster
- Fluropolymer
By Product Type
- Single Sided
- Double Sided
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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