14 February 2019:
Masking
Tape Market was million US$ in 2018 and is expected to million
US$ by the end of 2023, growing at a CAGR of between 2019 and 2023.This report
studies the Masking Tape market size (value and volume) by players, regions,
product types and end industries, history data 2014-2018 and forecast data
2019-2023; This report also studies the global Masking Tape market competition
landscape, market drivers and trends, opportunities and challenges, risks and
entry barriers, sales channels, distributors and Porter's Five Forces Analysis.
Globally, the masking tape market is predicted to grow at CAGR of 5.2% over the next
seven years, providing numerous opportunities for market players to invest for
research and development in the masking tape industry. Masking tape, commonly
referred as painter's tape, is largely used in packaging as well as
construction industry. Masking tape is considered as a type of
pressure-sensitive tape that is manufactured from a thin and easy-to-tear
paper. Masking tape is used along with a pressure-sensitive adhesive. Masking
tape are found in variety of widths.
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The Global Masking Tape Market is subject to witness a
substantial growth due to the robust growth in the building & construction
industry and increasing number of infrastructural projects. Favorable
government initiatives and increasing funding from local government authorities
for development of various infrastructural projects such as smart city
projects, particularly in the Asia Pacific region are expected to favor market
growth of masking tape industry in the upcoming years.
Increasing adoption of masking tapes during development of
bridges, tunnels, water supply, and roofing is expected to stimulate market
growth in the upcoming years. Some of the typical applications of the masking
tapes include cladding, glazing, and air conditioning. Wide range of
application in building and construction is expected to promote industry
expansion over the forecast period. Furthermore, increasing infrastructural
spending and various infrastructure development activities in the BRICS
economies such as Brazil, Russia, India, China and South Africa are predicted
to expand market reach in the near future. Strong economic growth in the
emerging economies across Asia Pacific region coupled with rising spending in
current fiscal budgets are propelling market growth, in the recent years.
The masking tape market is divided by region as North
America, Europe, Asia-Pacific, Latin America and Africa. North America has
shown major growth in recent years owing to the rise in the implementation of
latest technologies in packaging and construction sector, development
large-scale infrastructural projects in the region, and existence of
well-established manufacturing infrastructure. Asia-Pacific region is predicted
to hold major market share in the masking tape market with massive growth in
forecast period.
Countries such as India, China and Singapore are leading the
Asia-Pacific market with increasing demand for food & beverages industry,
rising construction spending, growing demand from healthcare industry and
significant investment by leading industry players considering potential growth
opportunities in the region. The key players in the masking tape market are the
3M Company, Teas SE, Lintec and Nitto Denko Co., American Biltrite Inc., Adchem
Co., Avery Dennison Co., and Jonson Tapes Ltd.
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Masking Tape Market
by Geographical Regions:-
•
North America
•
Europe
•
Asia Pacific
•
Middle East and Africa
•
South America
Masking Tape Market
by Applications:-
•
Construction
•
Automotive
•
Industrial
•
Electronic & Electrical
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