July 12, 2024
India Masking Tape Market

Soaring demand for masking tape in the paint industry anticipated to openup the new avanue for India Masking Tape Market

The India Masking Tape Market is estimated to be valued at US$ 248.72 Mn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Masking tapes are specialty tapes used for masking applications in painting, surface protection and sealing in various industries such as automotive, building & construction, packaging etc. It is made up of a thin and easy-to-tear paper or plastic film coated with a pressure-sensitive adhesive. Masking tapes are used to cover areas that shouldn’t be spray painted or receive topcoats like decorative stripes, body seams, and trim during automotive manufacturing and refinishing. In construction, it is used to protect floors and walls before painting or for sealing & masking purposes.

Market Dynamics:
Growth of automotive and construction industries: India is among the top automobile producer countries globally. Favorable policies by the Government of India to promote local manufacturing is fueling automotive production. Additionally, rapid urbanization and infrastructure development activities are driving the construction industry. Both these end-use industries widely use masking tapes for painting and surface protection applications which is fueling the market growth.

Increasing use of specialty masking tapes: Earlier basic paper masking tapes were used for masking. However, specialty masking tapes such as foam, fiber, etc. providing better adhesion and surface protection are gaining popularity. They don’t harm the surface and cause less ink bleeding. This has increased the overall demand of masking tapes over the forecast period.
Segment Analysis
The India masking tape market is dominated by the packaging segment, which accounts for over 35% of the total market share. Masking tape finds widespread applications in packaging for bundling, sealing, labeling and protective wrapping during transportation and storage. Within the packaging segment, food packaging is the major sub-segment driving the demand for masking tape in India. Rapid growth of the organized retail sector and evolving food habits of consumers have bolstered the food packaging industry, thereby augmenting tape requirement.

PEST Analysis
Political: There are no significant political risks affecting the India masking tape market. The government supports the growth of domestic manufacturing sector.
Economic: Strong GDP growth rate of around 7% per annum promotes investments across end-use industries. Rising disposable incomes drive demand for packaged goods.
Social: Changing lifestyles and busy schedules have increased the demand for ready-to-eat food and packaged commodities. Evolving nuclear family structure also favors packaging.
Technological: Advances in adhesive chemistry and backing materials help manufacturers offer tapes with high tensile strength, temperature resistance and moisture resistance.

Key Takeaways
The India Masking Tape Market Growth  is expected to witness high growth, exhibiting a CAGR of 4.5% over the forecast period of 2023 to 2030, due to increasing demand from packaging and paint industries. In 2023, the market size for India masking tape stood at US$ 248.72 Mn.

Regional analysis: Southern region holds the major share in the India masking tape market, owing to presence of key players and sizable paint and packaging sectors. Western and Northern regions also exhibit high demand.

Key players: 3M, Shurtape Technologies LLC, Nitto Denko Corp, Scapa Group PLC, tesa SE. 3M commands leading share owing to its wide product portfolio and strong brand presence.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it