Masking Tapes Market Will Reach US$8.06 Bn By 2030

Masking tapes are highly sought-after components in the automotive, construction, aerospace, and other industries due to their productive usage in heavy engineering activities. The masking tapes market is expected to grow at a 3.9 percent CAGR in 2021, according to a new analysis by Future Market Insights (FMI), as operations across industries restart following the COVID-19 lockdown.

At the core of the global masking tapes market growth is the expanding building and construction industry. Although primarily used to mask areas while painting, these tapes are finding increasing applications in label supplies. According to Future Market Insights (FMI), growth of the market will largely ride on versatility of masking tapes.

Automotive engines that are prone to overheating are increasingly using masking tapes designed to resist high temperatures. Rising car sales are creating attractive opportunities for masking tape sales against this backdrop. Aside from that, their growing use in automobile customisation will fuel market expansion in the future years.

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Who is winning?

Some of the leading companies operating in the market are 

• PPI Adhesive Products (C.E.) s.r.o.
• 3M,
• 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.

Key Takeaways from Report 

1. By 2030, overall value of masking tapes market will reach US$8.06 Bn
2. In 2020, nearly 66.9% of materials used in masking tapes production were paper
3. More than 90% of masking tapes sold worldwide are single-sided and over 50% sold have rubber-based adhesive
4. Masking tapes are more commonly used in painting applications, which is expected to surge at 4.7% between 2020 and 2030
5. 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.

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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.

Thanks to recent advancements, the applicability of masking tapes is improving, resulting in increased demand from the building and construction industry. As a result of rising infrastructure spending, emerging countries will become profitable markets for masking tape sales. However, as the industry struggles to cope with the unexpected economic ramifications of the COVID-19 epidemic, this tendency may be restricted in the near-term evaluation period.
Similarly, decreased auto sales could stymie market expansion in 2020. Nonetheless, countries are returning to routine after an extended period of lockdown. In a new report, FMI provides an executive-level overview of current market trends. 

By Adhesive Type

• Silicon-based Adhesive
• Acrylic-based Adhesive
• Rubber-based Adhesive

By Application Type

• Painting
• Planting
• Abrasive Blasting
• High Temperature Application
• Thermal Spraying
• General Use

By Region

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific Excluding Japan
• Japan
• Middle East & Africa

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Explore FMI’s Extensive ongoing Coverage on Packaging

Packaging Additives Market- The global packaging additives market is set to enjoy valuation of US$ 549 Mn in 2022, with the market predicted to expand at a CAGR of 4.3% and attain a net worth of US$ 650 Mn by the end of 2026.

HDPE Bottles Market- The global HDPE bottles market is valued at USD 55.8 Billion in 2022 and is expected to reach USD 67.2 Billion by 2028, at a CAGR of 3.1% from 2022 to 2028.

Paper Cups Market - Driven by growing emphasis on better consumer experience, the paper cups market saw steady growth rate of 4.5% CAGR between 2021 and 2031, reaching valuation of around US$ 9210 million by the end of the year

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.

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