Players holding a position of strength in the global painting masking tapes market
include Advance Tapes International Ltd., Bolex (Shenzhen) Adhesive
Products Co. Ltd., Shurtape Technologies LLC, Beiersdorf
Aktiengesellschaft, Intertape Polymer Group, Inc., Scapa Group PLC,
Saint-Gobain Performance Plastics Corporation, Nitto Denko Corporation,
Berry Global, and 3M Company, finds Transparency Market Research (TMR).
Several key companies are focused on offering products that features
robust adhesion properties and a clean removal for a variety of
surfaces, in order to stay ahead of the pack. In addition, a number of
top players are also considering developing specialized products for
various end-use industries, notably food packaging.
The global painting masking tapes market
stood at US$2.5 billion. Rising at 5.7% CAGR, the market is projected
to reach a worth of US$3.3 billion by 2022 end.
The key backing material used for
painting masking tapes are foam, plastic, and paper. Among the various
segments, paper leads, vis-à-vis annual absolute growth, and is
projected to account for a massive share by 2022 end. The paper segment
is estimated to be worth US$2.7 billion by the end of the assessment
period.
Broadly, the various regional markets
are North America, Latin America, Europe, Japan, Asia Pacific except
Japan (APEJ), and the Middle East and Africa (MEA). Of these, North
America accounted for the major share in 2017 and is expected to be one
of the most lucrative regional markets. However, APEJ is anticipated to
rise at the dominant CAGR of 7.8% during 2017–2022. Europe is also
expected to be a prominent market and is expected to offer potential
lucrative avenues over the assessment timeline. Latin America is
expected to be another lucrative regional market.
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The global painting masking tapes market
is projected to rise at substantial pace on the back of widespread
demand in several other end-use industries for painting and sealing
applications. The market is driven by the extensively rising demand for
masking tapes in a versatile range of application areas, including smart
cards, renewable energies, transport, paper and print, electronics,
health, copiers and printers, automotive, appliances, and construction.
In addition, the noticeable demand for specialized varieties of masking
tapes for sandblasting applications in the construction industries is a
notable factor boosting the market. Furthermore, the growing use of
advanced masking tape for painting in residential renovation in
developing regions is a crucial trend to accentuate the market.
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