Europe's Masking Tape Market is Set to Soar at 4.9% CAGR, Reaching US$ 2,560.8 Million

NEWARK, DE / ACCESSWIRE / June 28, 2023 / As per Future Market Insights (FMI), Europe masking tapes market size is estimated to reach US$ 1,580.5 million in 2023. From 2023 to 2033, masking tape sales in the Europe market are projected to soar at 4.9% CAGR. By 2033, the total market valuation in Europe is expected to reach US$ 2,560.8 million.

Rising demand for masking tapes from various sectors including automotive, building & construction, and electronics is driving the global market forward.

Escalating trend of vehicle modification is another prominent factor expected to elevate masking tape demand in the Europe market.

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Europe's automobile sector is experiencing a large increase in demand for automotive modifications, which is fueling the expansion of the masking tapes industry.

Masking tape, a versatile adhesive tape used in a variety of applications, has carved itself a niche in the automobile sector due to its ability to protect surfaces during car modification processes.

Car enthusiasts and experts are increasingly turning to customized modifications, ranging from cosmetic upgrades to performance upgrades. These improvements frequently entail time-consuming procedures such as detailing, repainting, or putting vinyl coverings that require masking tapes.

Masking tape is in high demand in the European market due to the growing popularity of automotive modification as a form of self-expression and personalization.

Manufacturers are responded to this demand by developing new goods such as UV-resistant tapes that prevent paint bleeding and sophisticated adhesives that cling well to both metallic and plastic surfaces.

Hence, the ongoing car modification trend and the automotive sector's stable growth will play a key role in boosting Europe masking tapes industry through 2033.

Increasing focus on protective packaging is another key factor pushing sales of masking tapes across Europe and the trend is expected to continue during the assessment period.

Masking tapes are essential in protective packaging because they provide a secure and effective sealing solution for boxes, cartons, and other packaging materials. Furthermore, masking tapes are resistant to dust, moisture, and other impurities, helping protect the contents of shipments from damage.

Masking tape sales are expanding in the protective packaging sector, prompting producers to spend on research & development to improve market performance even further.

The need for masking tapes in protective packaging is likely to rise owing to a growing emphasis on product safety, regulations, and the need for dependable and effective packaging solutions.

Key Takeaways from this Market:

Europe's masking tapes industry is forecast to exhibit a CAGR of 4.9% between 2023 and 2033.

By backing material, the plastic segment is anticipated to hold a 36.9% share of the Europe masking tapes industry by 2033.

By application, the painting segment is anticipated to create a growth opportunity of US$ 288.4 million between 2023 and 2033.

Based on end use, the automotive segment is estimated to hold around 36.1% share of the Europe market in 2033.

Germany's masking tape market size is projected to reach around US$ 576.2 million by 2033.

Demand for masking tapes in Hungary is likely to rise at 10.2% CAGR through 2033.

The United Kingdom market value is anticipated to reach US$ 368.8 million by 2033.

"Demand for masking tape products is expected to rise steadily across Europe as they offer UV resistance, temperature resistance, paint bleed prevention, and easy tear properties. Further, the growing popularity of eco-friendly masking tapes will support the expansion of the Europe masking tapes industry," - says an analyst at FMI.

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Who is Winning?

The Tier 1 players in the market hold a 25% to 30% share in the Europe masking tapes market. 3M Company, Berry Global, Inc., Tesa SE, Shurtape Technologies LLC, PPM Industries S.p.A., Saint-Gobain Tape Solutions, Vibac Group S.p.a Nitto Denko Corporation, Advance Tapes International Ltd., , Intertape Polymer Group Inc., and others are prominent masking tape manufacturers in the Europe market.

These key players are implementing various strategies to improve their revenues and expand their footprint. These strategies include mergers, new product launches, partnerships, acquisitions, collaborations, advertisements, etc.

Recent developments:

In March 2023, a new range of duct tapes made of recycled materials was launched by PPM Industries SpA.

Market by Categorization:

By Backing Material:

Plastic

Polyethylene (PE)

Polypropylene (PP)

Polyethylene Terephthalate (PET)

Polyvinyl Chloride (PVC)

Other Plastics (PA, EVOH, etc.)

Foam

Glass Fiber

Foil

Paper

By Adhesive:

Rubber-based Adhesive

Acrylic-based Adhesive

Silicon-based Adhesive

By Product Type:

Single Sided

Double Sided

By Sales Channel:

Direct Sales

Bricks & Mortar Stores

E-retail

Wholesalers

By Application:

Painting

Plating

Abrasive Blasting

High-Temperature Application

Thermal Spraying

General Use

By End Use:

Electrical & Electronics

Cable Insulation

Low Voltage Electrical Insulation

Circuit Board

Automotive

Vehicle Components

Automotive Wiring Insulation

Precise Painting

Building & Construction

Logistics & Transportation

Pharmaceutical & Medical Devices

Others (Defence, Aerospace, etc.)

By Country:

Germany

Austria

Switzerland

France

Spain

Italy

United Kingdom

Poland

Hungary

Greece

Portugal

Russia

Rest of Europe

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Table of Content (ToC):

1. Executive Summary

1.1. Europe Market Outlook

1.2. Market Analysis

1.3. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Key Market Trends

3.1. Key Trends Impacting the Market

3.2. Technological Trends

3.3. Product Innovation / Development Trends

4. Key Success Factors

4.1. Product Adoption / Usage Analysis

4.2. Product USPs / Features

4.3. Go-To-Market Strategies

5. Market Demand Analysis 2015 to 2022 and Forecast, 2023 to 2033

5.1. Historical Market Volume (Million Sq. Mtr.) Analysis, 2015 to 2022

5.2. Current and Future Market Volume (Million Sq. Mtr.) Projections, 2023 to 2033

5.3. Y-o-Y Growth Trend Analysis

6. Market - Pricing Analysis

6.1. Average Selling Price, By Product

6.2. Pricing Analysis

6.3. Europe Average Pricing Analysis Benchmark

Click Here for Europe Masking Tapes Market 147 pages ToC Report

About the Packaging Division at Future Market Insights (FMI):

The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, and packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analyzed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.

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About Future Market Insights, Inc.

Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

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SOURCE: Future Market Insights, Inc.

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