Soaring Demand For Masking Tape In The Paint Industry Is Estimated To Witness High Growth Owing To Increasing Construction And Infrastructure Development
Masking tape, also known as painter's tape, is a type of pressure-sensitive tape made with a paper backing and an acrylic adhesive that leaves no residue after removal. It is used for masking in painting, to temporarily section off or cover areas that do not require painting such as trims, edges or surfaces where a sharper finish line is desired. Masking tape is ideally suited for jobs in construction, painting, branding and other industrial uses where a temporary bond is required. The global masking tape market accounts for sales of over $2 billion annually.
The global UV Disinfection Equipment Market is estimated to be valued at Us$ 2.10 Bn in 2023 and is expected to exhibit a CAGR Of 4.5% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increasing construction and infrastructure development is one of the key drivers estimated to boost the growth of the masking tape market. Rapid urbanization along with rising disposable income has led to increased infrastructure projects across both commercial and residential sectors in developing regions. Moreover, frequent remodeling and renovation activities in developed nations also contribute to the rising demand for masking tapes from paint and construction industries. The temporary adhesive properties and easy removal ability of masking tape without leaving any residue makes it ideal for applications in construction where sharper finish lines are required.
Another driver fueling the market growth is advantages of masking tape over other masking mediums. Masking tape offers advantages such as easy application and removal without damaging the surface. It leaves less adhesive residue as compared to other tapes. Masking tape produces cleaner lines as it doesn't bleed under the paint like newspapers or other masking mediums. It is therefore widely used in automotive and aircraft painting industries where high precision and quality is required.
SWOT Analysis
Strength: UV disinfection equipment is highly effective in eliminating harmful pathogens. UV light can kill microorganisms like bacteria and viruses instantly. The equipment requires low maintenance and operational costs. Various government initiatives to curb the spread of infections are also propelling the demand for UV disinfection equipment.
Weakness: Prolonged exposure to UV light can be hazardous to human health. UV equipment needs to be installed carefully to avoid any accidental exposure. The initial investment cost of UV disinfection equipment is also higher compared to traditional disinfecting methods.
Opportunity: Increasing prevalence of hospital-acquired infections is driving the need for advanced sterilization solutions like UV disinfection. Growing awareness about environmental cleanliness and hygiene is augmenting the sales of UV disinfection equipment for air and water treatment applications. Rise in pandemic outbreaks has boosted funding for disease prevention, opening up opportunities for UV disinfection system providers.
Threats: Alternative disinfecting technologies like ozonation and chemical spraying offer competitive solutions at lower costs. Regulations restricting the use of mercury in UV lamps can negatively impact equipment manufacturers. Trade wars and geopolitical tensions impact the global supply chain of UV disinfection equipment.
Key Takeaways
The global UV disinfection equipment market is expected to witness high growth over the forecast period of 2023 to 2030. The rising cases of infectious diseases and growing emphasis on environmental sterilization are fueling demand for UV disinfection systems across industries. Regional analysis indicates that North America dominates the market currently owing to stringent safety and hygiene regulations in the healthcare and food industries. Asia Pacific is identified as the fastest growing regional market due to increasing healthcare expenditure, expanding manufacturing industries, and growing consumer awareness about environmental protection in countries like China, India, and Japan.
Key players operating in the UV disinfection equipment market are Xylem, Trojan Technologies, Halma, Kuraray, Atlantic Ultraviolet, Evoqua Water Technologies, Advanced UV, American Ultraviolet, Atlantium Technologies, and LilysUV. These companies provide an array of UV disinfection solutions for applications such as water and wastewater treatment, air disinfection, and surface disinfection. They are focusing on developing mercury-free UV lamp technologies and wireless remote-control systems to strengthen their market position. Strategic collaborations with end-use industries are also ongoing to tap business opportunities emerging from the pandemic.
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