Global Masking Tapes Market: Overview
The double-digit growth of the building and construction sector post the economic slowdown of 2008 has been benefitting the masking tapes market to a high degree. The growth of several industry sectors leading to the demand for infrastructural development and construction of additional business facilities has indirectly benefitted the masking tapes market. Masking tapes are pressure-sensitive tapes that are primarily employed during painting in construction activities. Masking tapes are available in a range of strengths and widths, which is dependent on the strength of the adhesive.
The report’s authors segregate the global masking tapes market based on adhesive type, backing material, application, end-user, and geography.
The report prepared by seasoned analysts discusses vital aspects along with market size and revenue projections that are likely to be observed in this market. Economic indices and social and political disturbances that impact growth of end-use industries have been duly considered in the making of this report.
Global Masking Tapes Market: Trends and Opportunities
At the forefront of driving the global masking tapes market is expansion of the building and construction sector. Due to the construction boom in several parts of the world, the building and construction sector displays a substantial demand for masking tapes for painting. While drafting tapes and ordinary household tapes are similar on several grounds, the former displays virtue of lower track. This helps to place construction blueprint to a drawing board, which later when removed does not damage the drawing.
In building and construction undertakings, the strength of tapes is gauged based on the duration they are placed for. Painting activities typically involve masking tapes to be placed for 7 to 14 days. On the other hand, tapes that are typically used for large number of days have less adhesive and are suitable for smooth surfaces such as wallpapers and newly-painted walls.
The growth of the automotive industry is also leading to an upsurge in the demand for masking tapes. Masking tapes are employed during painting, dent repairs, and several other activities in automobile manufacture and repair.
On the other hand, slow economic recovery after the 2008 slump, especially in parts of Latin America has negatively influenced the masking tapes market. The epicenter of the recession in Argentina and Brazil has hit automotive manufacturing in the region, which is a key end-user of masking tapes.
Global Masking Tapes Market: Geographical Analysis
Out of the key regional markets, Asia Pacific is likely to display a significant growth rate and emerge dominant over the forecast period. The growth of this market is attributed to expansion of manufacturing infrastructure, easy availability of raw materials, and rampant urbanization in emerging economies. China and India are anticipated to be key domestic markets for masking tapes in the region.
Latin America is anticipated to emerge as a key market for masking tapes in the near future.
North America masking tapes market is likely to be propelled by demand from diverse manufacturing and heavy industries and ever-expanding automotive, aerospace, and construction industries.
Global Masking Tapes Market: Companies Mentioned
The various players in the masking tapes market are likely to resort to product development and product innovation to outdo the competition. The top players in the market include 3M, CCT Tapes, K.L. & Ling, Scapa Group plc, Avery Dennison Corporation, CMS Group of Companies, Nitto Denko Corporation, and TOYOCHEM Co. Ltd.
Global Masking Tapes Market, by Type
Global Masking Tapes Market, by Backing Material
- Glass Fiber
Global Masking Tapes Market, by Application
- General Purpose
- High Temperature Applications
- Metal Working
Global Masking Tapes Market, by End-user
- Building & Construction
- Electricals & Electronics
- Consumer Goods
- Furniture & Decorations
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.