PUBLISHER: The Business Research Company | PRODUCT CODE: 1391167
PUBLISHER: The Business Research Company | PRODUCT CODE: 1391167
“Double-Sided Masking Tapes Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on double-sided masking tapes market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for double-sided masking tapes? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The double-sided masking tapes market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The double-sided masking tapes are pressure-sensitive tapes with adhesive coatings on both sides, widely employed across various industries for functions such as holding, bonding, mounting, sticking, splicing, and packaging. In construction, they find use in temporarily holding materials during installation. These tapes come in diverse widths and lengths to cater to a range of applications.
The primary types of double-sided masking tapes are categorized by their adhesive composition such as silicon-based, acrylic-based, and rubber-based. Silicon-based adhesives are utilized in the transportation industry for sealing gaskets and engines, as well as in electronic applications for potting and heat sink attachment. Silicone adhesive, a versatile and water-resistant polymer, is a key component. Applications of double-sided masking tapes span painting, plating, abrasive blasting, high-temperature uses, and more. End-users encompass automotive, building and construction, healthcare, electrical and electronics, packaging, aerospace, and various other sectors.
The double-sided masking tapes market research report is one of a series of new reports from The Business Research Company 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.
The double-sided masking tapes market size has grown strongly in recent years. It will grow from $12.33 billion in 2023 to $13.1 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period for double-sided masking tapes can be attributed to increased demand from the automotive industry, applications in electronics and PCB manufacturing, usage in construction and building projects, meeting industrial and manufacturing needs, and providing efficient bonding solutions.
The double-sided masking tapes market size is expected to see strong growth in the next few years. It will grow to $17.25 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period for double-sided masking tapes can be attributed to the increasing automation in manufacturing processes, the rise of e-commerce and online sales, adherence to regulatory compliance, applications in the medical and healthcare sector, and the assembly of renewable energy and solar panels. Major trends in the forecast period include the development of advanced materials and composites, the continued integration of automation in manufacturing, ongoing technological innovations, the emergence of innovative solutions, and the formation of strategic partnerships.
The escalating prominence of the construction sector is anticipated to drive the expansion of the double-sided masking tapes market. These tapes are instrumental in preventing material corrosion, maintaining clean and smooth surfaces, and providing protective sealing against environmental elements during construction activities. Notably, the Global Construction Outlook report by Marsh, a UK-based insurance company, predicts a substantial growth of $4.5 trillion in the global construction market between 2020 and 2030, reaching $15.2 trillion. Emerging markets, particularly China, India, the United States, and Indonesia, are expected to contribute significantly, accounting for 58.3% of the global construction growth during this period. The increasing prevalence of construction activities is consequently projected to fuel demand for double-sided masking tapes throughout the forecast period.
The double-sided masking tapes market is poised to experience growth driven by a surge in automobile production. These tapes, known for their robust adhesion, residue-free removal, and ability to withstand harsh environmental conditions, play a vital role in ensuring quality and efficiency in the production of automobiles. Notably, data from the Society of Indian Automobile Manufacturers indicates a noteworthy growth in commercial vehicle sales, reaching 7.2 million units from 5.7 million units between April 2021 and March 2022. This growth is particularly evident in medium and heavy commercial vehicles, which increased from 1.6 million to 2.4 million units, and light commercial vehicles, rising from 4 million to 4.8 million units during the same period. Similarly, the Alliance for Automotive Innovation, a US-based trade association, projects a surge in automotive sales by 14 million units in 2020. The upswing in automobile production stands as a key driver for the growth trajectory of the double-sided masking tapes market.
A prominent trend gaining traction in the double-sided masking tapes market is technological advancement. The industry is experiencing the integration of various adhesive technologies, including hotmelt adhesive and acrylate adhesive, known for their light adhesion characteristics. Leading companies in this sector are actively working on offering sustainable solutions for masking tapes to bolster their market standing and uphold their environmental responsibility towards renewable and sustainable tapes. An illustrative example is Germany-based Monta, which introduced a novel range of self-adhesive paper tape-a silicone-free alternative to adhesive tapes with synthetic backings. This innovation facilitates mono-material packaging solutions and presents a more adaptable and user-friendly option compared to water-activated tape.
Prominent players in the double-sided masking tapes market are directing their efforts towards product development to maintain competitiveness. A case in point is Lohmann Technologies, a US-based manufacturer of tapes and films, which launched DuploCOLL LE in August 2022. This product is a series of double-sided adhesive tapes designed for use in vehicle interiors to bond low-emission materials. It constitutes a portfolio of high-tech adhesive tapes characterized by low emissions and odors, meeting the stringent demands of original equipment manufacturers (OEMs) for materials with low volatile organic compound (VOC), fogging, and odor values. The DuploCOLL LE 59xxx (Low Emission) series is produced in an energy-efficient manner, contributing to its appeal in the market.
In a significant development in December 2021, Boyd Corporation, a US-based appliances, electrical, and electronics manufacturing company, acquired MBK Tape Solutions for an undisclosed amount. This strategic acquisition underscores Boyd Corporation's focus on expanding its capabilities in medical material science, particularly in advanced wound care, transdermal patches, and biosensors. MBK Tape Solutions, a US-based manufacturer of tapes, foams, and other flexible materials, specializes in supplying industrial and medical parts, assembly aids, and finished goods. This move signifies a strategic effort to strengthen Boyd Corporation's position in the market and broaden its offerings in key segments.
Major companies operating in the double-sided masking tapes market include 3M, Intertapes Polymer Group, Shurtape Technologies LLC, TesaTapes Private Ltd., Nitto Denko Corp, Lintec Corporation, Avery Dennison Corporation, Yem Chio Co Ltd., SEKISUI Chemical Co Ltd., Lohmann GmbH & Co. Kg, Guangzhou Broadya Adhesive Products Co Ltd., Scapa Group PLC, Berry Global Inc., Saint-Gobain Performance Plastics, L&L Products, Adchem Corp, Adhesive Applications Inc., Adhesives Research Inc., Advanced Flexible Composites Inc., Adhesive Systems Inc., American Biltrite Inc., Arkema Group, Ashland Inc., Bostik Findley SA, Collano Adhesives AG, Dow Inc., Drytac Corp, Franklin International Group Ltd., H.B. Fuller India Adhesives Pvt Ltd.
North America was the largest region in the double-sided masking tapes market in 2023. Asia-Pacific is expected to be the fastest-growing region in the double-sided masking tapes market share during the forecast period. The regions covered in the double-sided masking tapes market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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 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 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.