Future Market Insights (FMI) has released a comprehensive report on the global masking tape market, estimating its value at US$ 5,651.7 million in 2024 and projecting a substantial growth to reach US$ 8,800.8 million by 2034, at a Compound Annual Growth Rate (CAGR) of 4.5% over the forecast period. The market was valued at US$ 5,358.7 million in 2023.
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Factors Driving Market Expansion:
- Rapid Growth in the Building and Construction Sector: The masking tape market is witnessing rapid expansion, primarily driven by the exponential growth in the building and construction sector. These tapes find extensive use in masking areas during painting, contributing significantly to market growth.
- Growing Popularity of Eco-Friendly Solutions: The market is expected to surge further due to the increasing popularity of eco-friendly masking tapes among consumers. Several manufacturers are introducing environmentally friendly masking tape solutions, known as ‘eco-tapes’, catering to the demand for sustainable packaging options.
- Increasing Demand in Packaging and Automotive Industries: The packaging industry’s rising demand and the continued use of masking tapes in electric & hybrid vehicles are key factors propelling market expansion. Additionally, the growing medical industry in developing countries is expected to present growth prospects for the masking tape market.
Advanced Acrylic Adhesive Technology Driving Market Trends:
Advanced acrylic adhesive technology is emerging as a key trend in the masking tape market, replacing traditional bonding and fastening systems. Manufacturers across various industries are adopting acrylic adhesive-based masking tapes for enhanced performance, offering excellent resistance to temperature fluctuation, UV exposure, and aging.
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Key Trends in the Masking Tape Market:
- Growth of the Automotive Sector: The automotive sector’s growth is driving demand for masking tapes, particularly for precision painting and detailing processes. The complexity of modern vehicle designs and the adoption of multiple colors are further contributing to market expansion.
- Easy Use and Convenience: Masking tapes are widely preferred for indoor activities due to their ease of use and precision. The availability of extra-thin paper tapes enables consumers to achieve precise paint jobs, even at sharp edges, while the low tacking property ensures easy removal without residue.
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.
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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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