The global Masking Tapes Market is estimated to be valued at US$ 5006.29 Mn or in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Masking tapes, also known as adhesive backed paper tapes, are primarily used to protect surfaces or parts from damage, corrosion or paint splatters during manufacturing processes like welding, spraying and sanding. They provide a cost-effective alternative to more specialized tapes. Masking tapes are categorized into two types - regular masking tape and fine line masking tape. They offer benefits like easy application and removal without leaving residue, conformability to complex surfaces and resistance to abrasion. The growing automotive, construction and manufacturing industries have boosted the demand for masking tapes globally.
Market key trends:
One of the key trends in the masking tapes market is the development of ultra-thin and ultra-fine tapes. Manufacturers are focusing on producing tapes that are only a few microns thick for very delicate and intricate applications. 3M has various fine line tapes in its portfolio with thicknesses ranging from 9-50 microns. Similarly, tesa SE offers delicate surface protection tapes as thin as 12 microns. These ultra-thin tapes can be used for applications like vehicle wrapping and graphics. Another trend is the usage of alternate backing materials like foam or film instead of traditional paper. Foam tapes offer superior adhesion strength while film tapes provide moisture resistance, making them suitable for harsh environments.
Porter's Analysis
Threat of new entrants: The threat of new entrants in the masking tapes market is medium as the market requires high capital investment in manufacturing facilities and R&D to develop high quality products. Also established players enjoy economies of scale and brand recognition.
Bargaining power of buyers: The bargaining power of buyers is high in the masking tapes market as buyers can negotiate on price and demand better quality and service from manufacturers. Buyers also have many substitutes available.
Bargaining power of suppliers: Suppliers of raw materials like polymers and adhesives have medium bargaining power as raw materials are commodity products and production process requires specialized chemicals and adhesives. Suppliers cannot charge high prices unilaterally.
Threat of new substitutes: The threat of substitutes is medium as there are substitutes like scotch tapes, adhesive tapes available but masking tapes have certain premium features like higher holding power and lower residue that give them an edge over substitutes.
Competitive rivalry: The competitive rivalry is high among established players as the market is fragmented with presence of numerous global and regional players. Players focus on new product innovation, branding and marketing to gain market share.
Key Takeaways
The Global Masking Tapes Market Demand is expected to witness high growth, exhibiting CAGR of 5.2% over the forecast period, due to increasing construction and transportation activities. The market size for 2023 is estimated to be US$ 5006.29 Mn.
Asia Pacific region dominates the global masking tapes market and is expected to grow at the fastest rate during the forecast period. Rapid industrialization and infrastructure development in China, India and Southeast Asian countries is driving the demand for masking tapes in this region.
Key players operating in the masking tapes market are PPI Adhesive Products, PPM Industries SpA., Scapa, Shurtape Technologies, tesa SE, Ubis, 3M, CCT Tapes, K.L. & Ling, Avery Dennison Corporation, CMS Group of Companies, Nitto Denko Corporation, and TOYOCHEM Co. Ltd. 3M is a leading company with wide product portfolio and strong geographical presence across Americas, EMEA and APAC regions.
