The paper masking tapes market is likely to expand at a CAGR of 5.7% during the forecast period. The market is anticipated to hold a value of US$ 2.1 billion in 2023 while it is anticipated to cross a value of US$ 3.6 billion by 2033.
According to FMI analysis, the crepe masking tapes were expected to account for about 3/5th of the sales in the global sales. The growth of this segment is attributed to the various properties associated with crepe material which is backed with rubber adhesives that can withstand high temperatures, which has resulted in their high sales across various industries.
Japan’s paper masking tapes market is poised for substantial growth, projected to expand at a robust CAGR of 7.4% from 2022 to 2033. This remarkable market growth is primarily driven by increased government investment in construction activities. The introduction of innovative adhesive tapes, featuring temperature-friendly and pressure-friendly qualities, coupled with their application in electrification operations, presents a significant Dollar opportunity, estimated at US$ 146.5 million. By 2033, the market is anticipated to achieve a value of US$ 286.9 million, indicating a substantial upward trajectory. This positive trend not only underscores Japan’s burgeoning market but also contributes to an overall boost in the global paper masking tapes market, emphasizing the vital role of construction-related activities and technological advancements in adhesive tape formulations.
Paper masking tapes were designated for automotive applications such as resist lifting and curling by ensuring smooth and hassle-free masking. As per market research, the demand in the automotive sector is expected to grow at 6.1% during the forecast period. Owing to the technological advancements in machine learning and the introduction of robotics, it has made the industrial sectors reach multifold growth. Resulting in creating impressive growth prospects for sales of paper masking tapes over the evaluation period. This in turn is anticipated to majorly fuel the market for paper masking tapes.
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Key Takeaways
- The segment of used cars which falls under the automotive industry is expected to consistently gain traction in regions such as North America, Europe, and Asia Pacific. The market for new vehicles is expected to be dominated by established players and has shown sluggish growth in major developed markets. Contrary to this, the sales of used vehicles are gradually rising worldwide.
- The used car market segment allows multi-shop operators (MSOs) and other small players to enter the high revenue-generating market of automobiles. It comprises vehicles that can get painted, repaired, and sold in appealing conditions. Therefore, the used car market segment is filled with opportunities for manufacturers of paint coatings, paper masking tapes, and other supplies.
- Persistent growth exhibited by the used car market along with the frequent need for masking tapes is expected to offer lucrative prospects for paper masking tape manufacturers to capitalize on. The global pandemic harmed the global paper masking tapes market, especially in 2020 and 2021. Due to the lockdown and stringent regulations imposed worldwide manufacturing activities were shut down in the first half of the year 2020.
- However, the global paper masking tapes market is expected to recover in 2021-2022, by exhibiting a year-on-year growth of around 4.6% in 2021. In addition to that, the application within the electric automotive is anticipated to continue fueling the demand for the paper masking tapes market. A significant change in the market is a shift of distribution from traditional to e-commerce medium during COVID-19.
- Paper masking tapes are known as distinct adhesive tapes, which are used in diverse industries including automotive, building and construction, aerospace, and general industries. Due to a specially formulated adhesive, the efficacy of these tapes has been improving which comprises an instant bond to various surfaces.
- The global paper masking tapes market witnessed minimal barriers while comprehending from the macroeconomic lens. However, while proceeding further liquid adhesive solutions might gradually replace masking tapes across industries. In order to counter this effect, masking tape producers are expected to incline towards sustainable materials, consequently paving the scope for higher sales of paper masking tapes.
Competitive Landscape
The key market players have been working on reshaping the product in order to attract potential customers. Furthermore, several manufacturers such as 3M are improving the strength of the product by modifying the overall features and using sustainable adhesive solutions. Prominent manufacturers are diversifying towards various applications in aerospace and automobile in order to reduce the risk of failure. Apart from this, industry players are also focusing on expanding facilities to gain a competitive edge.
The Major Key Players Are:
- 3M Company
- Shurtape Technologies LLC
- Tesa SE
- Saint-Gobain Tape Solutions Europe
- Nitto Belgium NV
- Advance Tapes International Ltd.
- PPM Industries S.p.A
- Vibac Group S.p.a
- Intertape Polymer Group Inc.
- Berry Global, Inc.
- Beorold.o.o
- Folsen Tapes
- FABO s.p.a.
- Scapa Industrial
- Cintas AdhesivasUbis, S.A.
- others
Recent Market Developments
- In October 2021, Tesa Tapes expanded with a complete state-of-art facility in Tennessee, United States to support industrial production.
- 3M Company has introduced its Crepe Masking Tape 202 which has a maximum operating temperature of 121 degrees centigrade while delivering fruitful results to all the industries like automotive, furniture, metalworking, and electronics.
More Insights into the Paper Masking Tapes Market
The U.S. is known as one of the largest markets for automotive production and sales. According to the estimations by the U.S. Department of Commerce, light-vehicle sales are anticipated to reach a volume of 17.2 million units in the year 2018. Increasing sales of automotive in the United States are shaping opportunities for the sales of paper masking tapes.
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Key Segmentations-
By Tape Type:
- Crepe Masking Tape
- Washi Masking Tape
- Flatback Paper Masking Tape
- Kraft Paper Making Tape
By Distribution Channel:
- Distribution Professional
- Aftermarket Sales
- DIY Distribution
By Adhesive Type:
- Rubber-based Adhesive
- Acrylic-based Adhesive
- Silicon-based Adhesive
- Hot Melt Adhesives
By Application:
- Painting
- Plating
- Abrasive Blasting
- High-temperature Application
- Thermal Spraying
- General Use
By End Use:
- Automotive
- Building and Construction
- Aerospace
- General Industries
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific (APAC)
- The Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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