Masking tape is a variety of adhesive tape used for the temporary concealment of surfaces.
SEATLE, WA, USA, March 1, 2022 /EINPresswire.com/ — According to Coherent Market Insights analysis, growth in the construction industry is expected to drive the masking tape market. Among the regions, Asia-Pacific accounted for the largest revenue share of 38% in the global masking tapes market in 2020 and is expected to maintain its dominance during the forecast period. The global market for masking tapes should exceed $ 𝐔𝐒 𝟖, 𝟎𝟎𝟕 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝐭𝐡𝐞 𝐞𝐧𝐝 𝐨𝐟 𝐨𝐟 𝐨𝐟 𝟐𝟎 𝟐𝟎 𝟐𝟎.𝟐𝟎% during the forecast period (𝟐𝟎𝟐𝟏 𝟐𝟎𝟐𝟖).
In addition to this, Coherent Market Insights has access to a wide range of regional and global reputable paid databases, which helps the company understand the trends and dynamics of the regional and global Masking Tapes market. The Company analyzes the Masking Tapes industry from a 360 degree perspective i.e. supply side and demand side which enables us to provide granular details on the overall of the ecosystem for each study. Finally, a top-down and bottom-up approach are followed to arrive at the ultimate research results on the Masking Tapes market
BY Type of material
Others (Glass, Fibers, etc.)
BY end user
Others (Electronics, etc.)
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Top Key Players of Global Masking Tapes Market:
PPI Adhesive Products, PPM Industries SpA., Scapa, Shurtape Technologies, tesa SE, Ubis, 3M, CCT Tapes, KL & Ling, Avery Dennison Corporation, CMS Group of Companies, Nitto Denko Corporation and TOYOCHEM Co. Ltd.
The booming automotive industry is expected to drive the demand for masking tapes. Growth in vehicle sales across the world is fueling the demand for masking tapes. According to the International Energy Agency (IEA), nearly 41 million cars were sold worldwide in 2020. Overall, global car sales will continue to grow with an annual growth rate of 3, 6% over the next five years. Rising population, growing disposable income, and easy access to credit and finance are driving the building and construction industry, which in turn is driving the masking tape market. Additionally, growing demand for passenger vehicles from the booming logistics and passenger transportation industry is expected to drive the demand for masking tapes.
In 2020, the automotive industry struggled to cope with the impact of COVID-19; however, electric cars remained a beacon of hope. Despite various challenges, electric car sales were positive in 2020. The focus on light-duty and electric vehicles fueled demand for advanced masking tape solutions. Due to their high flame resistance, adhesion and dialectical strength, the application of masking tapes is also booming in the aerospace industry.
Main characteristics of the study:
➤This report provides an in-depth analysis of the Global Masking Tapes Market, Market Size (Million US$ and Mn. Sq. Meter) and Compound Annual Growth Rate (CAGR%) for the forecast period ( 2021-2028), taking 2020 as the reference year
➤It elucidates potential revenue opportunities in different segments and explains an attractive investment proposition matrix for this market
This study also provides key insights into the market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players.
➤It profiles leading players of the global Masking Tapes market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies and future plans
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Global Masking Tape Market – Impact of the Coronavirus (COVID-19) Pandemic
The global masking tape market has been impacted due to the ongoing COVID-19 pandemic. Several governments around the world have imposed nationwide lockdowns to limit the spread of the virus, which has led to the closure of businesses and the halting of several economic activities. According to the International Monetary Fund 2020 report, the global economy contracted sharply by 3.0% in 2020, which is worse than the financial crisis of 2008-09. Additionally, the disruption in the supply chain has indirectly resulted in low demand for masking tapes.
Global Masking Tapes Market – https://www.coherentmarketinsights.com/press-release/masking-tapes-market-4200
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