Extensive uptake across aerospace and construction industries to primarily influence expansion in the upcoming decade. Further opportunities abound across the automotive sector.
DUBAI, UAE / ACCESSWIRE / January 19, 2021 / Future Market Insights: ESOMAR certified market research and consulting firm Future Market Insights' (FMI) recently published masking tapes market report anticipates an increase of 0.8% over 2020 to reach 3.9% in 2021. The outlook is poised to remain positive over the 2020-2030 decade to register 5.1% CAGR.
Growth is majorly underpinned by prolific advancements in the defense and aerospace segment. Recent years have seen heightened investments in aerospace infrastructure development, being valued at over US$ 900 billion in 2019, with the United States at the forefront. Hence, FMI expects high proliferation of masking tapes providers across the region, expecting a valuation of nearly US$ 58 Bn by 2021-end.
In addition, the building and construction industry is at the core of the global masking tapes market, with projections indicating a valuation of US$ 1.7 Bn by the end of the current year. In spite of experiencing a temporary blip induced by the coronavirus pandemic, growth is expected to rebound as lockdowns are lifted, leading to a resumption of housing construction projects, thus stimulating uptake of masking tapes.
"Manufacturers are emphasizing on introducing sustainable and cost-efficient product lines with the objective of attracting a wider clientele to enhance growth prospects," comments the FMI analyst.
Request report sample containing over 200 pages to acquire comprehensive insights on https://www.futuremarketinsights.com/reports/sample/rep-gb-2642
Masking Tapes Market- Key Takeaways
- Aluminum foil derived masking tapes to capture the highest share, generating over three out of four sales by 2021
- Double sided tapes to acquire momentum, registering a Y-o-Y expansion of nearly 5% through 2031
- By adhesive type, rubber-based masking tapes likely to remain dominant
- Abrasive blasting emerged as the principal application area, recording a historical CAGR exceeding 6%
- Automotive industry to yield over 40% of the revenue for masking tapes manufacturers
- United States to generate nearly 90% of the masking tapes revenue through 2031
- U.K likely to register annual growth of around 3% amid an expanding construction industry in the coming decade
- Germany and France to remain important markets, experiencing stable outlook
- Aggrandizing automotive and construction industries to propel China at the forefront of the Asian market
Masking Tapes Market- Prominent Drivers
- Global masking tapes market is witnessing growing penetration by eco-friendly alternatives, such as compost tapes
- Heightening capital expenditure on defense and aerospace equipment to generate green spaces in the future
- Widening applications across key industries such as metal works is expanding scope of the market
Masking Tapes Market- Key Restraints
- Sluggish real-estate price post the Great Recession of 2008 and the COVID-19 pandemic may hinder adoption
Explore more about the masking tapes market, comprising 106 tables and 71 figures along with the table of contents. You will find detailed market segmentation on https://www.futuremarketinsights.com/ask-question/rep-gb-2642
Competitive Landscape
Prominent players operating in the masking tapes landscape include 3M Company, Intertapes Polymer Group Inc., Shurtapes Technologies LLC., Tesa SE Group, Nitto Denko Group, Ahlstrom Corporation, PPI Adhesive Products (C.E) s.r.o., Saint-Gobain Performance Plastics Corporation, PPM Industries S.p.A and Berry Global Group among others.
The market is likely to remain extremely competitive due to the presence of such wide number of players. Prominent strategies for expansion include new product launches, strategic acquisitions, mergers and partnerships with existing players and regulatory authorities.
Buy Now@ https://www.futuremarketinsights.com/checkout/2642
Explore FMI's Extensive Coverage on the Packaging Division
Micro Perforated Films Market: In its new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights into key factors driving demand for micro perforated films packaging from 2021-2031. The report tracks the global sales of micro perforated films in 20+ high-growth markets, along with analyzing the impact COVID-19 has had on the market.
Bulk Container Packaging Market: The global bulk container packaging market research report compiled by ESOMAR-certified Future Market Insights (FMI) delves into the prominent dynamics responsible for shaping historical, current and future projections across 20+ high-growth markets for the periods 2016-2020 and 2021-2031 respectively. A detailed analysis of COVID-19 on key segments has also been incorporated.
Pump and Dispenser Market: Explore FMI's insightful coverage on the global pump and dispenser market for the assessment period ranging from 2020-2030. The report provides an in-depth view of the prominent growth dynamics expected to shape future expansion trajectory. Furthermore, COVID-19's perceived recessionary impact across prominent regions and segments has been embedded within the report's scope.
About Future Market Insights
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
MARKET ACCESS DMCC Initiative
For Sales Enquiries: [email protected]
For Media Enquiries: [email protected]
Report: https://www.futuremarketinsights.com/reports/masking-tapes-market
Press Release Source: https://www.futuremarketinsights.com/press-release/masking-tapes-market
SOURCE: Future Market Insights