NEWARK, Del, Nov. 07, 2022 (GLOBE NEWSWIRE) -- The global paper masking tapes market is expected to augment well over the forecast period by registering a stable CAGR of around 5.4% over the projection period from 2021 to 2031. The paper masking tapes market will reach nearly US$ 2 Bn by 2022. The global market was valued at US$ 1.9 Bn in 2021. During the historic period, the global paper masking tapes market witnessed a CAGR of 3.3% between 2016 and 2020. The adhesive tapes market accounted for the largest segment which generated the maximum revenue of the global paper masking tapes market of about US$ 60 Bn in 2021.
According to FMI analysis, the crepe masking tapes were expected to account for about 3/5th of the sales in the global sales. The growth of this segment is attributed to the various properties associated with crepe material which is backed with rubber adhesives that can withstand high temperatures, which has resulted in their high sales across various industries.
To Get Sample Copy of Report visit @ https://www.futuremarketinsights.com/reports/sample/rep-gb-13146
Paper masking tapes were designated for automotive applications such as resist lifting and curling by ensuring smooth and hassle-free masking. As per market research, the demand in the automotive sector is expected to grow at 6.1% during the forecast period. Owing to the technological advancements in machine learning and the introduction of robotics, it has made the industrial sectors reach multifold growth. Resulting in creating impressive growth prospects for sales of paper masking tapes over the evaluation period. This in turn is anticipated to majorly fuel the market for paper masking tapes.
Key Takeaways
- The segment of used cars which falls under the automotive industry is expected to consistently gain traction in regions such as North America, Europe, and Asia Pacific. The market for new vehicles is expected to be dominated by established players and has shown sluggish growth in major developed markets. Contrary to this, the sales of used vehicles are gradually rising worldwide.
- The used car market segment allows multi-shop operators (MSOs) and other small players to enter the high revenue-generating market of automobiles. It comprises vehicles that can get painted, repaired, and sold in appealing conditions. Therefore, the used car market segment is filled with opportunities for manufacturers of paint coatings, paper masking tapes, and other supplies.
- Persistent growth exhibited by the used car market along with the frequent need for masking tapes is expected to offer lucrative prospects for paper masking tape manufacturers to capitalize on. The global pandemic harmed the global paper masking tapes market, especially in 2020 and 2021. Due to the lockdown and stringent regulations imposed worldwide manufacturing activities were shut down in the first half of the year 2020.
- However, the global paper masking tapes market is expected to recover in 2021-2022, by exhibiting a year-on-year growth of around 4.6% in 2021. In addition to that, the application within the electric automotive is anticipated to continue fueling the demand for the paper masking tapes market. A significant change in the market is a shift of distribution from traditional to e-commerce medium during COVID-19.
- Paper masking tapes are known as distinct adhesive tapes, which are used in diverse industries including automotive, building and construction, aerospace, and general industries. Due to a specially formulated adhesive, the efficacy of these tapes has been improving which comprises an instant bond to various surfaces.
- The global paper masking tapes market witnessed minimal barriers while comprehending from the macroeconomic lens. However, while proceeding further liquid adhesive solutions might gradually replace masking tapes across industries. In order to counter this effect, masking tape producers are expected to incline towards sustainable materials, consequently paving the scope for higher sales of paper masking tapes.
Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-13146
Competitive Landscape
The key market players have been working on reshaping the product in order to attract potential customers. Furthermore, several manufacturers such as 3M are improving the strength of the product by modifying the overall features and using sustainable adhesive solutions. Prominent manufacturers are diversifying towards various applications in aerospace and automobile in order to reduce the risk of failure. Apart from this, industry players are also focusing on expanding facilities to gain a competitive edge.
More Insights into the Paper Masking Tapes Market
The U.S. is known as one of the largest markets for automotive production and sales. According to the estimations by the U.S. Department of Commerce, light-vehicle sales are anticipated to reach a volume of 17.2 million units in the year 2018. Increasing sales of automotive in the United States are shaping opportunities for the sales of paper masking tapes.
Paper Masking Tapes Market By Category
By Tape Type:
- Crepe Masking Tape
- Washi Masking Tape
- Flatback Paper Masking Tape
- Kraft Paper Making Tape
By Distribution Channel:
- Distribution Professional
- Aftermarket Sales
- DIY Distribution
By Adhesive Type:
- Rubber-based Adhesive
- Acrylic- based Adhesive
- Silicon-based Adhesive
- Hot Melt Adhesives
By Application:
- Painting
- Plating
- Abrasive Blasting
- High Temperature Application
- Thermal Spraying
- General Use
By End Use:
- Automotive
- Building and Construction
- Aerospace
- General Industries
- Others
Buy This Report@ https://www.futuremarketinsights.com/checkout/13146
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
Browse full Report@ https://www.futuremarketinsights.com/reports/paper-masking-tapes-market
Explore FMI’s related ongoing Coverage on Packaging Domain
Rice Paper Stand Up Pouch Market Size : The rice paper stand-up pouch market is estimated at US$ 56.5 Billion in 2022 and secure a value of US$ 101.2 Billion 2032
Kraft Paper Machine Market Trends : The kraft paper machine mainly consists of three sectional systems namely forming section, press section, drying section and lastly the calendar section.
Flexible Packaging Paper Market Growth : The flexible packaging paper market is on track to grow at an estimated CAGR of 4% during 2022-2032.
Machine Glazed Kraft Paper Market Analysis : The global machine glazed kraft paper market is estimated at US$ 9.3 Bn in 2022 and is projected to reach US$ 14.5 Bn by 2030, at a CAGR of 6% from 2022 to 2030.
Cap Liner Market Forecast : The cap liner market revenue totalled US$ 1.07 Bn for 2021, according to FMI. The overall cap liner market is expected to reach US$ 1.8 Bn by 2032
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
