MASKING TAPES MARKET ANALYSIS

Market Concentration and Competitive Landscape

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Acrylic adhesive masking tapes have witnessed increased usage across multiple industrial applications over the past few years, driving robust growth in the global masking tapes market. These tapes are extensively used in automotive, building & construction, and general industrial activities which require the protection of surfaces from paints, primers, and other finishing.  In the automotive industry, acrylic masking tapes have emerged as the preferred option for masking various body parts, trims, and emblems during the painting process of vehicles. Their strong adhesion and easy removability without leaving residue has boosted their popularity. According to the International Organization of Motor Vehicle Manufacturers (OICA), automotive production increased by over 4% globally in 2021 versus 2020. The accelerating production schedules pointed to by OICA are expected to sustain the demand for masking tapes from automotive original equipment manufacturers (OEMs) and body shops over the coming years. In building & construction as well, acrylic tapes have found widespread usage in masking doors, windows, and flooring during interior renovation and painting activities. As per the statistics by the United Nations Environment Programme (UNEP), the global construction sector output is projected to increase by over 85% between 2016 and 2030, predominantly driven by China, the U.S., and India. This growth in construction expenditures bodes well for sustained demand rise from associated end-use industries like paints, coatings, and masking tapes over the coming decade.