Masking Tapes Market Is Expected To Rise At A CAGR Of 4.8% During 2021-2031 | 3M, Shurtapes, Intertapes Polymer Group

Masking Tapes Market is expected to rise at a CAGR of 4.8% during 2021-2031 | 3M Company, Shurtapes Technologies LLC., Intertapes Polymer Group Inc

Driven by their industrious applications in heavy engineering operations, masking tapes are highly sought-after components in automotive, construction, aerospace, and other industries. As per a new study by Future Market Insights (FMI), the masking tapes market is set to exhibit 3.9% CAGR in 2021, as operations across industries resume post prolonged lockdown amid COVID-19.

Masking tapes developed to withstand high temperature are increasingly used for safety of automotive engines that easily tend to overheat. Against this backdrop, rising car sales are creating lucrative prospects for masking tape sales. Besides this, their increasing application in customization of vehicle will push growth of the market in the coming years.

Request Sample Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-2642

Who is winning?

Some of the leading companies operating in the market are

• 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.

Competition within the masking tapes market is expected to intensify in the coming years as companies engage in race of launching new products with greater performance.

Improving applicability of masking tapes, thanks to recent innovations will cause increasing demand from building and construction industry. Rising spending on infrastructural development will, therefore, make emerging countries lucrative pockets for masking tapes sales. This trend however might be curtailed in near-term assessment period, as the industry struggles to cope with the unprecedented economic implications of COVID-19 outbreak.

Likewise, declining automotive sales could hamper growth of the market in 2020. Nonetheless recovery is on cards with countries resuming normalcy post extended period of lockdown. FMI presents an executive-level account of trends prevailing in the market in a new study.

Request Brochure @ https://www.futuremarketinsights.com/reports/brochure/rep-gb-2642

Key Takeaways from Report

• By 2030, overall value of masking tapes market 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 market 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 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.

Sustainability Holds Immense Potential

In 2015, the member states of the United Nations adopted the 2030 Agenda for Sustainable Development that offered a shared plan for achieving sustainability based on five pillars: prosperity, planet, people, partnership, and peace. The agenda specified various principles and corresponding steps to be adopted by government, individual companies, and other associations to ensure sustainable development in the coming years. This has encouraged various companies, including masking tape manufacturers to adopt sustainability goals and adhere to eco-friendly production.

The year 2020 witnessed several launches in the sustainable category. For instance, addressing the need to offer sustainable solutions, a renowned German manufacturer and one of the leading adhesive tape suppliers, Monta has launched monta biopack, which is a new self-adhesive tape. According to the company, the tape is made from roughly 90% renewable resources.

With an increasing number of companies joining the sustainability bandwagon, masking tapes market will have novel drivers to capitalize on in the near future.

Ask Analyst @ https://www.futuremarketinsights.com/askus/rep-gb-2642

Explore FMI’s Extensive ongoing Coverage on Packaging

Stretch Wrappers Market-The global stretch wrappers market is all set to witness a linearly progressive simulation, reaching US$ 710.4 Mn by the year 2031 at a CAGR of 5.6%.

Bag-on-Valve Laminates Market- The global bag-on-valve laminates market is bound to display a gracious growth between 2022 and 2031 at a CAGR of 5.4%, reaching US$ 372 Mn.

Composite Paper Cans Market- The global market of composite paper cans market is expected to rise at a CAGR of 4.8% during 2021-2031 in comparison to 3% CAGR registered during 2016 – 2020.

About Us

Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.

Contact Us
Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers Dubai
United Arab Emirates

LinkedIn| Twitter| Blogs

For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com

Report : https://www.futuremarketinsights.com/reports/masking-tapes-market

© Scoop Media