SAN FRANCISCO, Feb. 18, 2019 /PRNewswire/ -- Global Masking Tape Market is estimated to grow at a substantial CAGR of 5.2% by 2023 as the scope, product types, and its applications are increasing across the globe. Masking tape, also termed as "Painter's Tape", is a type of pressure-sensitive tape made up of a thin & easy-to-tear paper and is effortlessly released pressure-sensitive adhesive. The factors that propel the growth of the Masking Tape Market include growth of new applications, expansion of the construction and building segment, low cost as compared to the other adhesives, being easy to use, and being non-sticky. On the other hand, the factors that may hamper the growth of the market include slow economic recovery and climate changes. Masking Tape Market may be explored by type, application, and geography. Masking Tape Market may be explored by Type as Rubber-based, Silicone-based, Acrylic-based, and Others. Masking Tape Market could be explored based on application as Automotive, Construction, Industrial, and Electronic & Electrical. The "Building and Construction" segment led the Masking Tape Market in 2017 and is anticipated to maintain its dominance by 2023. The factors that could be attributed to the growth of market may include booming construction activities in developing regions across the world. Masking Tape Market could be explored based on Backing material as Foil, Foam, Glass Fiber, Paper, Foil, Plastics and other. Masking Tape Market could be explored based on end users as Building & Construction, Automotive, Packaging, Aerospace, Electricals & Electronics, Furniture & Decorations, Consumer Goods, and Others.
Masking Tape Market is categorized based on geography into North America, Latin America, Japan, Middle East and Africa, Western Europe, Asia Pacific, and Eastern Europe. Asia-Pacific accounted for the major share of the Masking Tape Market Size in 2017 and will continue to lead in the forecast period. The factors that could be attributed to the growth of market may include easy accessibility of raw materials, growth of manufacturing infrastructure, widespread urbanization in developing countries like India and China are estimated to be significant domestic markets for masking tapes in the region. The key players contributing to the robust growth of the Masking Tape Market comprise CCT Tapes, 3M, Scapa Group plc, K.L. & Ling, CMS Group of Companies, Avery Dennison Corporation, TOYOCHEM Co. Ltd, and Nitto Denko Corporation. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry. Global masking tape market is anticipated to grow at a CAGR of 5.2% by 2023, according to a new report published by Gen Consulting Company. The report segments the market and forecasts its size, by volume and value, on the basis of application (construction, automotive, industrial, electronic & electrical, etc.), and by geography (North America, Europe, Asia-Pacific, MEA and South America).
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The report covers forecast and analysis for the Masking Tape market on a global and regional level. The study provides historic data of 2013-2017 along with a forecast from 2018 to 2023 based on both output/volume and revenue. The study then describes the drivers and restraints for the Masking Tape market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the Masking Tape market on a global level. The report has been prepared based on the synthesis, analysis, and interpretation of information about the global Masking Tape market collected from specialized sources. The competitive landscape section of the report provides a clear insight into the market share analysis of key industry players. Company overview, financial overview, product portfolio, new project launched, recent development analysis are the parameters included in the profile. The research report provides analysis and information according to market segments such as geographies, types and applications. All the segments have been analyzed based on present and future trends and the market is estimated from 2018 to 2023. Relevantly, the report and company profiles specify the key drivers that are impacting the demand in global Masking Tape market.
- Electronic & Electrical
- North America
- Asia Pacific
- Middle East and Africa
- South America
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Key Questions Answered in this Report:
- What will the market size be in 2023?
- What are the key factors driving the global Masking Tape market?
- What are the challenges to market growth?
- Who are the key players in the Masking Tape market?
- What are the market opportunities and threats faced by the key players?
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