Bizizz Market Research has recently published a research report, “Masking Tapes Market By Product Type (Acrylic-based, Silicone-based, Rubber-based and Others), Material (Foam, Glass fibre, Foil, Paper and plastic), Application (Automotive, Building & Construction, Electricals & Electronics, Packaging, Aerospace, Consumer Goods, Furniture & Decorations and Others), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Masking Tapes Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 4.5 Bn by 2027, witnessing a CAGR of 5 % during the forecast period. Key drivers of the market are increased adoption rate of masking tapes by various end-user industries along with various features of these tapes are propelling its market growth.
An increased demand of masking tapes is high from different applications such as labeling, sealing, insulating, installation, bonding & mounting in various end use industries. Shift in manufacturing vehicles towards hybrid, lightweight electric vehicles had changed the dynamics of automotive industry that is contributing to the masking tapes market. Manufacturers are increasingly investing in expanding their output coupled with upgrading manufacturing plants. As a result it is contributing to the growth of masking tapes market growth globally. Moreover, exponential growth of aerospace industry in various regions and high adoption of high barrier and tamper masking tapes in the industry are significantly propelling the masking tapes market.
The Masking Tapes market is anticipated to register a CAGR of over 5% during the forecast period.
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By Application, construction segment held a key share in Global Masking Tapes Market in 2018.
Exponential growth of masking tapes is highly associated with growth of construction market. Wide application of masking tapes in the construction industry has been a vital factor for its overall growth of masking tapes. Substantial market demand for masking tapes is attributed to the demand of end-user industries of building and construction industry.
Asia pacific is Anticipated to Dominate the Global Masking Tapes Market during the Forecast Period.
The Asia-Pacific region is considerably led by the automotive and packaging industry that is anticipated to grow. The demand for low-cost flexible packaging materials has been tremendously growing in Asia-Pacific region by a in food exports and development in food-processing industry. Packaged food demand is also high by shift in the lifestyle, preferences for modern food habits and workplace habits are contributing to this market. The Asia-Pacific region leads in the consumption of masking tapes. The regional consumption is increased from 37.0% of the global tonnage in 2008 to a 47.0% in 2015.
Global Masking Tapes market was moderately consolidated with key players accounting for significant share in 2018.
Prominent players operating in the Global Masking Tapes Market are: Scapa Group PLC., Nitto Denko Corporation, Lintec Corporation, Avery Dennison Corporation, Intertape Polymer Group, Inc., Shurtape Technologies, LLC., 3M, Tesa SE, Group PLC, Lohmann GmbH & Co. Kg, Nichiban Co. Ltd., Sekisui Chemical Co., Ltd., etc., among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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