The Largest Segment Driving The Growth Of Masking Tapes Market
SWOT Analysis
Strength: Masking tapes have high tensile strength and impart protection from dirt, dust and splash during surface preparation and painting process. They are available in various sizes and adhesive types.
Weakness: Standard tapes can leave adhesive residue during removal. Foam tapes are comparatively more expensive.
Opportunity: Growing construction and automotive repair industries present significant growth opportunities. Increasing demand for specialty tapes from select industries also provides new avenues.
Threats: Presence of local and unorganized players offering low cost substitutes. Stringent environmental regulations on adhesive raw materials.
Key Takeaways
The Global Masking Tapes Market Size was valued at USD 5006.29 Mn in 2023 and is expected to expand at a CAGR of 5.2% from 2023 to 2030. Rapid growth of industries such as automotive, building & construction, and aerospace which are major end-users is a key factor driving the demand.
The Asia Pacific region dominated the global market in 2023, accounting for around 35% of the total share. This was attributed to strong presence of manufacturing sector in China and India. Moreover, low input costs and growing domestic demand are incentivizing manufacturers to set up production bases in the region.
Key players operating in the masking tapes market are 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. 3M is one of the leading players with wide product portfolio including specialty tapes catering to diverse industries globally.
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