May 29, 2022 19:50 ET | Source: Vantage Market Research Vantage Market Research
WASHINGTON, May 29, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Masking Tape Market finds that escalating growth of the building & construction sector is a primary factor, driving the growth of the Masking Tape Market in recent years. In addition, the high usage of masking tapes in the use of a variety of applications, such as, plating, thermal spraying, high-temperature applications, painting, general use, abrasive blasting and some others is propelling the growth of the Masking Tape Market in recent years. The Global Market revenue value stood at USD 3.91 Billion in the year 2021.
The total Global Masking Tape Market is estimated to reach USD 5.12 Billion by the year 2028 and the Market is forecasted to grow exhibiting a Compound Annual Growth Rate (CAGR) of 4.5%, states Vantage Market Research, in a report, titled “Masking Tape Market Size, Share & Trends Analysis Report by Product Type (Single Side, Double Side), by Material Type (Foam, Foil, Paper- based, Plastics), by Adhesive Type (Acrylic-based Adhesives, Rubber-based Adhesives, Others (Silicone-based Adhesives), by Application (Painting, Plating, Abrasive Blasting, High-Temperature Applications), by End-use (Automotive, Building & Construction, Aerospace, General Industry), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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Potential Advantages of Automotive Masking Tape over Regular Masking Tape Drives the Market
Nowadays, the usage of masking tapes in the automobile industry has increased rapidly. The automotive masking tapes has lots of advantages over regular tapes, which in turn, accelerated the growth of Masking Tape Market in recent years. These advantages include higher tensile strength & elongation, higher thickness and high temperature resistance. Some automotive masking tapes provide UV resistance for up to three days and water-resistant features. And some provide perfect adhesion to irregular surfaces. All these features are responsible for bolstering the growth of the Masking Tape Market during forecast years.
Key Insights & Findings from the Report:
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Segmentation of the Global Masking Tape Market:
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Stringent Regulation Hampers the Market Growth
Various government bodies applied strict regulations for using masking tape. This is one of the obstacles in the growth of the Masking Tape Market during the forecast period. For instance, regulations for using chemicals are expanding rapidly across the globe. In order to use any chemical, consumers need to follow certain procedures such as, Registration, Evaluation, Authorization and Restriction of Chemicals (REACH). In addition, various governments have banned and restricted the use of adhesives such as acrylic-based and rubber-based adhesives. Thus, complex government regulations is hampering the growth of the Masking Tape Market during the forecast period.
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the electronics industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
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The Report on Masking Tape Market Highlights:
Asia Pacific Dominates the Market Growth
Asia Pacific accounted to dominate the growth of the Masking Tape Market in 2021. This growth is majorly accounted for by the large growth of the building & construction industry and the automotive industry in this region. Many leading players are investing heavily in order to introduce new and economical offerings to meet diversified demand from various sectors. Thus, large engagement of leading players is propelling the growth of the Masking Tape Market in this region.
List of Prominent Players in the Masking Tape Market:
Browse market data Tables and Figures spread through 146 Pages and in-depth TOC on "Masking Tape Market Size, Share & Trends Analysis Report by Product Type (Single Side, Double Side), by Material Type (Foam, Foil, Paper- based, Plastics), by Adhesive Type (Acrylic-based Adhesives, Rubber-based Adhesives, Others (Silicone-based Adhesives), by Application (Painting, Plating, Abrasive Blasting, High-Temperature Applications), by End-use (Automotive, Building & Construction, Aerospace, General Industry), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/masking-tape-market-658421
April, 2021: tesa introduced two new package tapes featuring the EcoLogo: tesapack® Bio & Strong and tesapack® Paper Standard. The tesapack® Bio & Strong is a strong bonding tape with a bio-based backing material. The tesapack® Paper Standard is paper-based and therefore extremely recycling-friendly.
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