Masking Tape Market to Reach Valuation of USD 5.12 Billion by 2028 - Increasing Demand for Masking Tape Market for building and construction industry to Drive the Market Growth

From the period of 2022 to 2028, the Global Masking Tape Market is expected to reach USD 5.12 Billion in terms of revenue, growing at a Compound Annual Growth Rate (CAGR) of 4.5%.

Masking tapes are made of easy-to-tear paper and are pressure sensitive. During painting or construction repairs, these are utilized to cover exposed parts. The rising building and construction industry will boost demand for these tapes over the forecast period. Furthermore, the use of these tapes for ornamental reasons in the form of washi tapes will increase demand. The rise of the building and construction sector is driving the worldwide masking tapes market. The demand for masking tapes for painting is high in the building and construction industry due to the construction boom in numerous regions of the world. While drafting tapes and standard household recordings have many similarities, the former has the advantage of a lower track. This aids in the placement of a construction plan on a drawing board, which does not damage the drawing when removed later. Masking Tape demand is increasing in tandem with the rise of the automobile industry. Masking tapes are used in the automotive industry for painting, dent repairs, and a variety of other tasks.

Key Highlights from the Report

• On the basis of Product Type, the market is segmented into Single Side and Double Side. In 2021, the single side masking tapes category commanded 60% of the market, and this dominance is likely to continue throughout the forecast period. Because of its superior adhesive and heat resistance, single-side masking tapes are becoming more popular in a variety of applications. They are employed for a variety of objectives, the most common of which is to protect surfaces while the building is taking place.

• On the basis of Adhesive Type, the market is segmented into Acrylic-based Adhesives, Rubber-based Adhesives, and Others (Silicone-based Adhesives). Rubber-based adhesives offer a longer tacking period than other Masking Tape adhesives because they comprise natural or synthetic elastomers. Rubber-based masking tapes are projected to outperform silicone- and acrylic-based tapes. These masking tapes are less expensive and have a higher initial tack, making them a popular choice. Due to their high cost and limited applicability, silicone-based adhesives are mostly employed in industrial applications. Acrylic-based adhesives, which are commonly used for bonding, sealing, and surface protection, have moderate adhesion and UV resistance, as well as the ability to minimize tape aging. Acrylic-based adhesives are anticipated to acquire moderate traction in the next years.

• Asia Pacific is the fastest regional segment in terms of growth. Over the projected period, Asia Pacific is expected to grow at a high rate and become the main region. The market is growing due to the expansion of manufacturing infrastructure, the easy availability of raw materials, and the increased urbanization of emerging nations. The major domestic markets for masking tapes in the region are projected to be China and India.

Market Dynamics:

Growth in the construction industry

The masking tapes market is likely to grow as the construction industry expands. The masking tapes market is likely to benefit from the rapidly developing construction industry in China, India, Indonesia, Japan, the United States, and Canada. The worldwide construction industry is predicted to rise at a rate of 3.6 percent per year from 2021 to 2028, according to the Global Alliance for Buildings and Construction, owing to rising household savings, government stimulus initiatives, and population growth.

Stringent regulations imposed by the government

The global masking tapes market is being hampered by strict rules enforced by various governing organizations. Chemical legislation, for example, is complicated and increasing in Europe and around the world, led by Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH). The European Union's bans and limits on different adhesives, such as acrylic- and rubber-based adhesives, are posing significant hurdles to Masking Tape manufacturers.

Over the projection period, Asia Pacific is expected to have tremendous growth. The expansion of manufacturing infrastructure, the simple availability of raw materials, and the rapid urbanization of emerging nations are all contributing to the market's growth. China and India are expected to be the region's most important domestic markets for masking tapes.