Double-Sided Masking Tapes Global Market Report 2023
Major players in the double-sided masking tapes market are 3M, Intertapes Polymer Group, Shurtape Technologies LLC, TesaTapes Private Limited, Nitto Denko Corporation, Ahlstrom-Munksjö Oyj, Saint-Gobain, Lintec Corporation, Berry global Inc.
New York, March 29, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Double-Sided Masking Tapes Global Market Report 2023" - https://www.reportlinker.com/p06325427/?utm_source=GNW
, Cintas Corporation, Scapa Group Ltd., Advance Tapes International (UK), PPM Industries SpA, PPI Adhesive Products Ltd., Avery Dennison Corporation, Coating & Converting Technologies LLC, TOYOCHEM Co. Ltd., Gergonne, Green Belting Industries, and Lohmann GmbH & Co.
The global double-sided masking tapes market grew from $11.63 billion in 2022 to $12.45 billion in 2023 at a compound annual growth rate (CAGR) of 7.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The double-sided masking tapes market is expected to grow to $15.36 billion in 2027 at a CAGR of 5.4%.
The double-sided masking tapes market consists of sales of double-sided masking tapes in the form of foam, foil and paper.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The double-sided masking tapes refers to pressure-sensitive tape coated with adhesive on both sides.It is widely used in various industries for holding, bonding, mounting, sticking, splicing, and packaging.
Double-sided masking tapes are also used in the construction industry to hold materials during installation temporarily. These double-sided masking tapes are available in different widths and lengths to suit various applications.
North America was the largest region in the double-sided masking tapes market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the double-sided masking tapes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of double-sided masking tapes are silicon-based adhesive, acrylic-based adhesive, and rubber-based adhesive.The silicon-based adhesive is used for sealing gaskets and engines in the transportation industry and for potting and heat sink attachment in electronic applications.
Silicone adhesive is a versatile, water-resistant polymer whose primary ingredient is silica.The various applications of double-sided masking tapes are painting, plating, abrasive blasting, high-temperature applications, and other applications.
The end-users of double-sided masking tapes include automotive, building and construction, healthcare, electrical and electronics, packaging, aerospace, and other end-users.
The growing penetration of the construction sector is expected to propel the growth of double-sided masking tapes.Double-sided masking tapes are used to resist the material from corrosion and keep the material surfaces clean and smooth and provide sealing function protection against environmental elements during construction.
Due to these characteristics, the construction industry has gradually used double-sided masking tape for outdoor and indoor applications. For instance, in September 2021, according to the Global Construction Outlook report by Marsh, a UK-based Insurance company stated that between 2020 and 2030, the global construction market is expected to grow by $4.5 trillion, reaching $15.2 trillion, with emerging markets accounting for $8.9 trillion. Furthermore, China, India, the United States, and Indonesia will account for 58.3% of global construction growth. Therefore, the rise in construction activities is expected to boost demand for double-sided masking tapes during the forecast period.
Technological advancement is a key trend gaining popularity in the double-sided masking tapes market.The market is witnessing the implementation of different adhesive technologies in the double-sided masking tapes market, such as hotmelt adhesive and acrylate adhesive, because of their light adhesion characteristics.
Major companies operating in double-sided masking tapes are focused on providing sustainable solutions for masking tapes to strengthen their market position because of their environmental responsibility towards renewable and sustainable tapes.For instance, In January 2020, Germany-based Monta revealed a new range of self-adhesive paper tape, a silicone-free alternative to adhesive tapes with synthetic backings.
It enables mono-material packaging solutions and is a more adaptable and user-friendly alternative to water-activated tape.
In December 2021, Boyd Corporation, a US-based appliances, electrical, and electronics manufacturing company acquired MBK Tape Solutions for an undisclosed amount.Through this acquisition, Boyd Corporation is focused on expanding its medical material science capabilities in advanced wound care, transdermal patches, and biosensors.
MBK Tape is a US-based manufacturer of tapes, foams, and other flexible materials for industrial and medical parts, assembly aids, and finished goods.
The countries covered in the double-sided masking tapes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The double-sided masking tapes market research report is one of a series of new reports that provides Double-sided masking tapes market statistics, including double-sided masking tapes industry global market size, regional shares, competitors with a double-sided masking tapes market share, detailed double-sided masking tapes market segments, market trends and opportunities, and any further data you may need to thrive in the double-sided masking tapes industry. This double-sided masking tapes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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