October 23, 2022 21:30 ET | Source: Future Market Insights Global and Consulting Pvt. Ltd. Future Market Insights Global and Consulting Pvt. Ltd.
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NEWARK, Del: , Oct. 23, 2022 (GLOBE NEWSWIRE) -- The masking tapes market is worth US$ 4.76 Bn as of now and expected to reach US$ 7.9 Bn by the year 2032 at a CAGR of 5.2% between 2022 and 2032. Masking tape comes across as a mini-crepe and smooth paper tape. These tapes provide resistance against water or solvents from paint, and are pretty strong. In other words, they hang plastic sheeting, but come out clean without causing any harm to subsurface.
The Global Alliance for Buildings and Construction states that the construction vertical worldwide is expected to witness a yearly growth of ~3% between 2020 and 2030 due to expanding pent-up household savings, population explosion, and pandemic stimulus programs.
Sustainable masking tapes, also known as eco-tapes, are witnessing a spike in demand due to their eco-friendliness. Gummed-tapes and self-adhesive tapes made out of paper are looked upon as good alternatives to polypropylene and vinyl tapes.
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Innovation is making inroads to the masking tapes market. As such, temperature resistant and special UV (ultraviolet) masking tapes are being recommended with regards to cured paint surfaces, plastered walls, glass, and likewise. DIY (Do it Yourself) enthusiasts are into making masking tapes. The market participants are also into making safe, clean, and lightweight adhesives available, so that they could be used in the production of masking tapes.
At the same time, the fact that stern regulations are being imposed by several governing bodies can’t be ignored. These factors are actually restraining the masking tapes market. Along these lines, REACH (Registration, Evaluation, Authorization and Restriction of Chemicals) governs Chemical legislation in Europe. The EU does ban as well as restrict the usage of several adhesives like rubber-based and acrylic-based. Future Market Insights has etched these finds with future prospects in its latest market study entitled ‘Masking Tapes Market’.
Key Takeaways from Masking Tapes Market
“The upcoming period to witness an excessive demand for sustainable masking tape solutions”, says an analyst from Future Market Insights.
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What does the Report Cover?
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4. Global Masking Tapes Market Analysis 2017-2021 and Forecast, 2022-2032
4.1. Historical Market Size Value (US$ Mn) & Volume (Mn Square Meters) Analysis, 2017-2021
4.2. Current and Future Market Size Value (US$ Mn) & Volume (Mn Square Meters) Projections, 2022-2032
Explore wide-ranging Coverage of FMI’s Packaging Market Insights Landscape:
Tapes Market: The global tapes market was valued at around US$ 71.1 Bn at the end of 2021. It is projected to register 4.8% CAGR and top a valuation of US$ 120.1 Bn by 2032.
Rubber Tapes Market: The rubber tapes market is estimated to total US$ 914.3 Mn in 2022. With sales growing at a 4.4% CAGR, the market valuation is projected to reach US$ 1.4 Bn in 2032.
Filament Tapes Market: The global filament tapes market is estimated at USD 4.9 billion in 2022 and is projected to reach USD 6.6 billion by 2026, at a CAGR of 7.8% from 2022 to 2026.
Corrosion Protection Tapes Market: The global corrosion protection tapes market is likely to join the bandwagon of exponential growth between 2022 and 2031 at a CAGR of 4.4%, reaching US$ 1.8 Bn by the year 2031.
BOPP Packaging Tapes Market: The global BOPP packaging tapes market is bound to reach US$ 23.8 Bn by the year 2029 at a CAGR of 4.5% between 2022 and 2029.
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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