June 12, 2024
India Masking Tape Market

“India Masking Tape Market Is Projected To Driven By Increasing Use In Construction Industry”

Masking tape, also known as painter’s tape, is a type of pressure-sensitive tape made with a thin and easy-removable adhesive that leaves no residue after removal. It is commonly used in painting, automotive, construction and other industries for masking purposes. Masking tape temporarily holds surfaces to avoid unwanted painting or attachment of other material. It protects areas that are not intended to be painted or surfaces that should remain uncoated. The India masking tape market has witnessed substantial growth owing to increasing construction activities across the country. India has emerged as one of the fastest growing construction industries globally over the past few years on account of robust industrial growth rate and rapidly urbanizing population. Masking tapes find wide adoption in construction for marking or taping off areas to protect other surfaces from painting, sanding, grouting, and other processes.

The global India Masking Tape Market is estimated to be valued at US$ 248.72 Mn in 2023 and is expected to exhibit a CAGR of 4.59% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends gaining traction in the India masking tape market is the increasing demand for acrylic adhesive masking tapes. Acrylic adhesive tapes provide superior adhesion and leave no residue after removal as compared to rubber-based adhesives. They are versatile and work efficiently on a wide range of surfaces including low-energy surfaces. Leading players are focusing on developing advanced acrylic tapes catering to diverse industrial application requirements such as high temperature resistance. For example, in 2022, 3M India Ltd launched 3M Scotch-Weld Structural Acrylic Adhesive Transfer Tapes for bonding composite and metal substrates in automotive and transportation industries.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is low as the India masking tape market is a mature market and requires significant capital investment to achieve economies of scale.
Bargaining power of buyers: The bargaining power of buyers is moderate as there are many established players in the market providing masking tape. However, buyers can negotiate on pricing and look for substitutes as well.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw materials used in masking tapes such as paper, adhesive are commoditized and available from multiple sources.
Threat of new substitutes: The threat of new substitutes is low as masking tape has well-established application in industries. However, there are low-cost alternatives like cellophane tape available.
Competitive rivalry: The competitive rivalry is high among the existing players to increase their market share in India. Players compete based on product quality, pricing, and innovation.

Key Takeaways

The Global India Masking Tape Market Demand is expected to witness high growth. The global India Masking Tape Market is estimated to be valued at US$ 248.72 Mn in 2023 and is expected to exhibit a CAGR of 4.59%over the forecast period 2023 to 2030.

The western region dominates India masking tape market owing to dense presence of industries. The southern region is the fastest growing region due to expansion of manufacturing sector.

Key players operating in the India masking tape market are EnableX.io (VCLOUDX PTE. LTD), Twilio Inc., Infobip Ltd., Vonage Holdings Corp, M800 Limited, MessageBird BV, Iotum Inc., Plivo Inc., Voxbone SA, Snich AB, Telestax, Voximplant (Zingaya Inc.), Mitel Networks Corporation, 8×8 Inc., AT&T Inc., Voxvalley Technologies, Avaya Inc., Bandwidth Inc. (Bandwidth.com), Wazo Communication Inc., and IntelePeer Cloud Communications. EnableX.io (VCLOUDX PTE. LTD) specializes in CPaaS (Communication Platform as a Service) based communication solutions for enterprises and is a leading player in India.

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