Masking Tapes Market Outlook
The masking tapes market is anticipated to record an average growth during the forecast period 2019-2029. Multiple applications of masking tapes such as labelling and masking in numerous industries are expected to boost market growth. Since masking tapes are light adhesive characteristics, end users use these tapes without the threat of the damage. Besides this, it can be used to label smaller objects with its short, lengthy, and arbitrary cuts.
In recent times, masking tapes have been used as a pressure-sensitive adhesive, and are getting more popular than the duct tape and packaging tape. End users opt for these tapes as they can be taken off, applied, and reapplied without losing their stickiness. In addition, the masking tapes come handy for the painters for the application of wallpapers and on newly-painted walls.
Besides this, various manufacturers operating in the masking tapes industry such as Lohmann produces multi-functional masking tapes for a variety of applications. For instance, the masking tapes produced by the company prove to be efficient refrigerator seals and for furniture. In addition, the company also holds expertise in the development of customize tape solutions.
Taking a cue from the innovation, numerous manufacturers are working on offering weather and heat resistance features, which is further broadening the user base for the masking tapes market. During the COVID-19 crisis, the masking tapes market witnessed a slump in its growth rate, owing to a number of factors. The focus from the consumer goods, furniture, and other applications of masking tapes was shifted to only essential products such as grocery and pharmaceuticals.
Another growth deterrent for the masking tapes market is the temporary halt of operations of various industries and reduction in construction activities. However, the masking tapes market is anticipated to recover from the impact of the distortion, once the industries commence their operations.
Masking Tapes Market - Key Research Findings
- The global masking tapes market size was ~US$ 4.5 Bn in 2018.
- The masking tapes market is expected to grow at a CAGR of ~5.0% during the forecast period of 2019-2029.
- Rapidly growing demand for masking tapes for various applications such as insulating installation, glazing, sealing, bonding & mounting, and labelling in end-use industries is anticipated to drive the market growth during the forecast period.
- In terms of market share, Asia Pacific Excluding Japan (APEJ) and North America are expected to account for ~50% share of the masking tapes market by the end of 2029.
- The adequate presence of leading manufacturers and suppliers in these regions is propelling the growth of the masking tapes market.
- Western Europe and Latin America hold significant potential growth for the masking tapes market.
- Consistent growth of construction and automotive industries in these regions along with increasing application scope of masking tapes in these industries has been creating considerable demand. Moreover, leading manufacturers are constantly focusing on these regions to generate noteworthy revenue.
Key Factors Influencing the Masking Tapes Market Growth
- Capital Investment in Aerospace and Automotive Industries
Shifting focus towards lightweight, hybrid, and electric vehicles in recent times has changed the overall market scenario of the global automotive industry. Leading manufacturers are investing their capital to not only expand their automobile manufacturing clusters but also for upgradation of manufacturing plants.
The result is likely to lead to increasing demand for various adhesive solutions for the manufacturing process of auto vehicles, ultimately contributing to the growth of the masking tapes market globally. Furthermore, the rapidly growing aerospace industry in a number of regions and high adoption of high barrier and tamper evident masking tapes in the industry is also significantly driving the masking tapes market.
- Expansion and Acquisitions Strategies
Leading masking tapes manufactures are consistently focusing on expanding their business footprints to generate maximum revenue. These manufactures are targeting the developing countries such as India, China, and Mexico to capture substantial market share. Rapidly growing construction and automobile industry in these countries will continue to create considerable demand for masking tapes.
- For instance, Tesa SE, a prominent masking tapes manufacturer has opened up a new adhesive tapes manufacturing plant in China by investing €30 Mn. These manufacturing plants are centered on the production of adhesive tapes for electronics and automobile industry.
- In April 2019, 3M Company expanded its adhesive solution portfolio for wearable medical devices. By doing this, the company has strengthened its footprints in the healthcare industry.
Further, leading manufacturers are also targeted towards acquisitions of local players to strengthen their position in the masking tapes market.
- For instance, Tesa SE, a masking tape manufacturer acquired Functional Coatings, Inc. in May 2018. Functional Coating Inc. manufactures adhesive coatings and sealing products.
- Availability of Highly Efficient Alternatives to Create a Hindrance
Development of alternatives to masking tapes such as masking fluid and frisket film may pose as a potential threat to the masking tapes market players. Frisket films are gaining popularity for printing applications, due to its capability of keeping the ink from masked area. It also lasts for hundreds of thousands of impressions, whereas masking tape is only for one time use. Furthermore, use of masking fluid for general purpose applications is another factor limiting the growth of the masking tapes market. These masking fluids can be easily used for contours of small and complex structures, thereby affecting the demand for masking tapes.
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Masking Tapes Market Structure Analysis
- 3M Company, Intertapes Polymer Group Inc., Ahlstrom Corporation and Nitto Denko Corp are the leading manufacturers of masking tapes worldwide.
- In 2018, expansion and acquisitions strategies were adopted by key players to expand their business and product portfolio.
- Product developments and new product launches are among the important trends followed by the prominent masking tapes market players.
- Wide range of applications and easy installation are the vital factors that are likely to boost the demand for masking tapes in the years ahead.
The masking tapes market has been relatively moderate in size, which remains a key factor for its dynamic and competitive nature. In the masking tapes market, tier 1 companies hold a revenue share of ~25%.
Some of the prominent players in the market are 3M Company, Intertapes Polymer Group Inc., Shurtapes Technologies LLC., tesa SE Group, Nitto Denko Corp, Ahlstrom Corporation, PPI Adhesive Products (C.E.) s.r.o., Saint-Gobain Performance Plastics Corporation, PPM INDUSTRIES S.P.A., Berry Global Group Inc. The FMI’s report highlights individual strategies followed by these companies, in terms of enhancing their product portfolio and creating new marketing techniques along with mergers and acquisitions.
Masking Tapes Market - Report Scope
Historical Data Available for
US$ Mn for Value and Mn Sq. m for Volume
Key Regions Covered
North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, Japan, and Middle East & Africa (MEA)
Key Countries Covered
U.S, Canada, Germany, Brazil, Mexico, Rest of Latin America, U.K., France, Italy, Spain, Rest of Europe, Nordic, BENELUX, Rest of Western Europe, Russia, Poland, Rest of Eastern Europe, ASEAN, Japan, India, China, South Korea, Rest of Asia Pacific excluding Japan, Australia, New Zealand, GCC, North Africa, South Africa, Rest of MEA
Key Segments Covered
Backing Material Type, Product Type, Adhesive Type, Application, End Use, Region
Key Companies Profiled
Market Overview, Key Market Trends, Key Success Factors, Demand Analysis, Market Background, COVID-19 Analysis, Segmental Analysis, Regional Profiling, Market Structure & Competition Analysis
Customization & Pricing
By Backing Material Type
- Glass Fiber
- Aluminium Foil
- Lead Foil
- Crepe Paper
- Washi Paper
- kraft Paper
- Flatback Paper
- Polyethylene Terephthalate/Polyster
By Product Type
- Single Sided
- Double Sided
By Adhesive Type
- Silicon-based Adhesive
- Acrylic-based Adhesive
- Rubber-based Adhesive
By Application Type
- Abrasive Blasting
- High Temperature Application
- Thermal Spraying
- General Use
- Building & Construction
- Abrasive blasting
- High Temperature Application
- Thermal Spraying
- General Use
- General Industry
- Electronics & Electrical
- Metal Working
- Shipping & Logistics
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Middle East & Africa