SEATTLE, Feb. 24, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights’ analysis, the global masking tapes market was valued at US$ 4,300 million in 2020 and is expected to exhibit a CAGR of 5.20% during the forecast period (2021-2028).
Key Trends and Analysis of the Global Masking Tapes Market:
Masking tape, also known as painter's tape, is a type of pressure-sensitive tape made of a thin and easy-to-tear paper. The expansion of the shipping and logistics sector across the globe is expected to create lucrative opportunities for masking tape manufacturers. The rising demand for logistics services is generated by the e-commerce boom. Many countries such as China, the U.S., the U.K., Germany, and India are the most prominent e-commerce markets across the globe. According to the Office of National Statistics (UK), the e-commerce revenue in the country amounted to US$ 82.4 Bn in 2019, which exhibited a 7.7% increase compared to revenue generated in 2018. Masking tapes are majorly used in the packaging of e-commerce products. These tapes are more commonly used for fixing boxes and bundles while shipping goods. Thus, surging e-commerce activities across the globe are pushing the demand for logistics and shipping services, which in turn, is expected to create lucrative opportunities for the masking tapes market players.
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Key Market Takeaways:
The global masking tapes market is expected to exhibit a CAGR of 5.20% over the forecast period (2021-2028). Masking tapes are majorly used in the construction industry due to their excellent adhesion and heat resistance properties. They are used for various purposes such as to protect surfaces and for heat resistance. The application of masking tapes in the automotive industry goes beyond heat resistance. Masking tapes are often used in the automotive industry as they hold better than other materials and showcase resistance to critical temperature.
Competitive Landscape:
Key market players include PPI Adhesive Products, PPM Industries SpA., Scapa, Shurtape Technologies, tesa SE, Ubis, 3M, CCT Tapes, K.L. & Ling, Avery Dennison Corporation, CMS Group of Companies, Nitto Denko Corporation, and TOYOCHEM Co. Ltd. Key players are focusing on implementing strategies such as acquisitions and mergers to gain a competitive edge in the global market. For instance, in April 2021, tesa SE opened a new manufacturing facility in China. The company also invested US$ 62 million to build a new plant in Vietnam. With the expansion in China, tesa SE has increased their footprint in Asia and strengthened its market position in Greater China and the surrounding countries such as South Korea and Vietnam.
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Market Segmentation:
- Global Masking tapes Market, By Product Type :
- Single Side
- Double Side
- Global Masking tapes Market, By Material Type
- Foam
- Foil
- Paper-based
- Plastics
- Others (Glass Fiber, etc.)
- Global Masking tapes Market, By Adhesive Type
- Acrylic-based Adhesives
- Rubber-based Adhesives
- Others (Silicone-based Adhesives, etc.)
- Global Masking tapes Market, By Application
- Painting
- Plating
- Abrasive Blasting
- High-Temperature Applications
- Thermal Spraying
- General Use
- Others
- Global Masking tapes Market, By End-use
- Automotive
- Building & Construction
- Aerospace
- General Industry
- Residential
- Others (Electronics, etc.)
- Global Masking tapes Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Argentina
- Mexico
- Rest of Argentina
- By Country:
- Europe
- By Country:
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country:
- China
- India
- Japan
- South Korea
- ASEAN
- Australia
- Rest of Asia Pacific
- By Country:
- Middle East & Africa
- By Sub-region:
- Middle East
- Africa
- By Sub-region:
- North America
Related Market Intelligence Reports:
Filament Tapes Market, by Filament Type (Single Sided Tapes, and Double Sided Tapes), by Backing Adhesive Type (Plastic Film, Paper, Fabric, and Foam), by Adhesive Type (Rubber Based, Acrylic Based, and Hot Melt Adhesive), by Width (12mm, 18mm, 24mm, 36mm, 48mm, 72mm, and Others), By Application (Bundling, Strapping, Carton Sealing, Sealing, and Others), By End-use (Building & Construction, Food & Beverages, Electrical & Electronics, Automotive, Healthcare & Hygiene, Printing, Metalworking, Oil & Gas, General Industrial and Consumer Goods) and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027
Medical Tapes Market, By Product Type (Adhesive Tape, Elastic Tapes, Silicone Tapes, Paper Tape, Silk Cloth Tape), By Application (Wounds and Injuries, Surgeries and Securement), By End User (Hospitals, ASCs, Clinics, Home Care Setting), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027
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Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
