Press Release-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
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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 Market 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
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 Market 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.
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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
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