The acrylic-based masking tapes market has experienced strong growth in recent years, projected to expand from $51.32 billion in 2023 to $55.23 billion in 2024, with a compound annual growth rate (CAGR) of 7.6%. This historical growth has been driven by increasing demand in the automotive sector, rising construction applications, expanding industrial uses, increased use in packaging, and growth in the electronics sector.
The acrylic-based masking tapes market is forecast to grow to $74.41 billion by 2028, at a CAGR of 7.7%. Factors driving this growth include higher demand from automotive industries, the packaging sector, electronics manufacturing, increased need for high-performance tapes, and rising awareness of adhesive solutions. Major trends include eco-friendly adhesives, advanced adhesive technologies, high-temperature tapes, durable backing materials, and multi-purpose tapes.
Major Driver In The Acrylic-Based Masking Tapes Market
The rising demand in building and construction is expected to drive the growth of the acrylic surface coating market. Building and construction, which involve creating and assembling residential, commercial, and infrastructure structures, are growing due to increasing urbanization and demand for infrastructure development. Acrylic surface coatings are used in construction to provide durable, weather-resistant finishes that enhance the appearance and longevity of surfaces. According to the Office for National Statistics, total annual construction output in the UK rose by 5.6% in 2022 compared to the previous year, following a 12.8% surge in 2021. This growth in building and construction is expected to boost the acrylic surface coating market, which is projected to reach $300 million by 2024 and $400 million by 2028.
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Acrylic-Based Masking Tapes Market Competitive Landscape
Berry Global Inc., Avery Dennison Corporation, Mas Corporation, Nitto Denko Corporation, Uline Inc., TESA SE, ORAFOL Europe GmbH, Lohmann GmbH & Co. KG, 3M India Limited, Mirka India Private Limited, Mactac Americas LLC, Caplugs Inc., Nichiban Co. Ltd., Cortec Corporation, Adhesives Research Inc., Tapecon Inc., Cantech Industries Inc., Adhesive Specialities, TapeCase Ltd., Ajit Industries Private Limited, JTAPE Limited, Sumax Engineering Private Limited, KOVAX Corporation, Morris Products Inc., Seal King Industrial Co. Ltd
Key Acrylic-Based Masking Tapes Market Trend
Companies in the acrylic-based masking tapes market are focusing on recycled masking tapes to promote sustainability. For instance, in August 2022, Tesa SE launched a recycled PET packaging tape designed for heavy-duty applications. It maintains strong adhesive properties while offering eco-friendly performance.
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Global Acrylic-Based Masking Tapes Market Segmentation
The acrylic-based masking tapes market covered in this report is segmented –
1) By Type: Single Side, Double Side
2) By Backing Materials: Plastic, Paper, Foam, Other Backing Materials
3) By Application: Automotive, Building And Construction, Healthcare, Electrical And Electronics, Packaging, Aerospace, Other Applications
By Geography:The regions covered in the acrylic-based masking tapes marker report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the acrylic-based masking tapes market in 2023.
The Acrylic-Based Masking Tapes Global Market Report 2024 furnishes information about the global acrylic-based masking tapes market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
