Covid-19 Impact On Masking Tapes Market Share – Booming Worldwide Opportunities, Upcoming Trends And Future Growth Forecasts To 2025
The double-digit growth of the building and construction sector post the economic slowdown of 2008 has been benefitting the masking tapes market to a high degree. The growth of several industry sectors leading to the demand for infrastructural development and construction of additional business facilities has indirectly benefitted the masking tapes market. Masking tapes are pressure-sensitive tapes that are primarily employed during painting in construction activities. Masking tapes are available in a range of strengths and widths, which is dependent on the strength of the adhesive.
The report’s authors segregate the global masking tapes market based on adhesive type, backing material, application, end-user, and geography.
The report prepared by seasoned analysts discusses vital aspects along with market size and revenue projections that are likely to be observed in this market. Economic indices and social and political disturbances that impact growth of end-use industries have been duly considered in the making of this report.
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Global Masking Tapes Market: Trends and Opportunities
At the forefront of driving the global masking tapes market is expansion of the building and construction sector. Due to the construction boom in several parts of the world, the building and construction sector displays a substantial demand for masking tapes for painting. While drafting tapes and ordinary household tapes are similar on several grounds, the former displays virtue of lower track. This helps to place construction blueprint to a drawing board, which later when removed does not damage the drawing.
In building and construction undertakings, the strength of tapes is gauged based on the duration they are placed for. Painting activities typically involve masking tapes to be placed for 7 to 14 days. On the other hand, tapes that are typically used for large number of days have less adhesive and are suitable for smooth surfaces such as wallpapers and newly-painted walls.
The growth of the automotive industry is also leading to an upsurge in the demand for masking tapes. Masking tapes are employed during painting, dent repairs, and several other activities in automobile manufacture and repair.
On the other hand, slow economic recovery after the 2008 slump, especially in parts of Latin America has negatively influenced the masking tapes market. The epicenter of the recession in Argentina and Brazil has hit automotive manufacturing in the region, which is a key end-user of masking tapes.
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Global Masking Tapes Market: Geographical Analysis
Out of the key regional markets, Asia Pacific is likely to display a significant growth rate and emerge dominant over the forecast period. The growth of this market is attributed to expansion of manufacturing infrastructure, easy availability of raw materials, and rampant urbanization in emerging economies. China and India are anticipated to be key domestic markets for masking tapes in the region.
Latin America is anticipated to emerge as a key market for masking tapes in the near future.
North America masking tapes market is likely to be propelled by demand from diverse manufacturing and heavy industries and ever-expanding automotive, aerospace, and construction industries.
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Global Masking Tapes Market: Companies Mentioned
The various players in the masking tapes market are likely to resort to product development and product innovation to outdo the competition. The top players in the market include 3M, CCT Tapes, K.L. & Ling, Scapa Group plc, Avery Dennison Corporation, CMS Group of Companies, Nitto Denko Corporation, and TOYOCHEM Co. Ltd.
