PAINTING MASKING TAPES MARKET ANALYSIS

Painting Masking Tapes MarketSize and Trends

• Major driver for growth of the painting masking tapes is a growing paints and coating industry. According to World Bank, the market for paints in India is expected to grow 1.5 times to 2 times GDP growth rate in the next five years i.e. from 2016 to 2021. According to Berger Paints India Limited, 2018, around 75% of industry turnover is contributed by decorative paints and remaining 25% is of industrial paint. This industrial paint segment is comprises automotive, protective, and powder coatings.
• The Asia Pacific is projected to be the fastest growing region in coatings market and it is estimated to account for the largest share of the global demand by 2020. China, India, and South Korea have witnessed significant growth in construction sector, which in turn is propelling demand for masking tapes in the Asia pacific. Increasing growth of the global construction industry is contributing to positive impacts on the growth of painting masking tapes market.
• Uses of masking tapes vary from wet painting, spray painting, stenciling, sandblasting to high temperature applications such as printed circuit board manufacture and powder coating. Furthermore, they are handy in decline and restoration projects for building containments, labeling, hanging temporary signs, and bundling.

Market Outlook

• Painting masking tapes are important component in the paints and coatings industry. According to American Coatings Association, in 2017, the U.S. market accounted for 20% of US$ 149 billion global paints and coatings shipments value.
• The key backing material used for these tapes are foam, paper, plastic, foil and fibers. Although rubber adhesives are widely used, silicone adhesives are preferred when temperature is above 160°C.
• Increasing automotive manufacturing and metal production activities are expected to propel demand for painting masking tapes. Car customization is one of the mega trends in automotive industry. Increasing adoption of second cars is propelling demand for masking tapes in customization of a vehicle. Increasing sales of automobiles due to increasing disposable income is expected to drive growth of the market.
• Demand for interior and exterior paints and coatings of an aircraft is high, owing to cargo traffic and international trade. Rising aerospace industry is another growth driver for painting masking tapes demand.

Market- Trends