TAGS: Hot-melt Adhesives Waterborne Adhesives Reactive Adhesives
In terms of revenue, Transparency Market Research (TMR) anticipates that the masking tapes market in India is expected to reach a valuation of USD 350.5 million by 2031 and is estimated to expand at a CAGR of 5.1 percent during the forecast period.
The emissions of volatile organic compounds (VOCs) during the manufacture of these tapes are likely to hamper the masking tapes market in India during the forecast period. The increase in the demand for masking tapes in the electrical & electronics and packaging industries is likely to drive the masking tapes market in India in the next decade.
Demand for Masking Tapes in Electronics Industry
The demand for masking tapes is increasing in the electronics industry in India. The electronics industry employs pressure-sensitive tapes and adhesives to install parts directly in devices. The electronic & electrical appliances industry, one of the popular end-users of masking tapes, is expanding at a rapid pace.
A rise in disposable income; change in lifestyles of people, and increase independence on the usage of electronic devices are major factors driving the sale of electronic devices in India. There exists a prominent trend toward the miniaturization of electronic devices, which require the use of masking tapes as substitutes for screws and other fasteners. Thus, the demand for masking tapes is expected to be driven by the growth in sales of electronic devices.
Rising Demand for Specialty Adhesive & Sealants
The rise in the demand for specialty adhesives and sealants is one of the factors fueling the masking tapes market in India. Major raw materials required for adhesives and sealants are petroleum-derived, prices of which are directly linked with those of oil and gas. Hence, currently prevailing low prices of crude oil are expected to drive the market for adhesive tapes in the next few years. Innovative adhesive bonding technologies, availability of high-performance materials, and growth of automotive and packaging industries are factors driving the masking tapes market in India.
The increase in the demand for reactive technology-based products is also boosting the overall demand for masking tapes. The preference for water-based reactive formulations over solvent-based reactive formulations to comply with environmental regulations is expected to drive the adhesives & sealants industry in the near future.
Emissions of volatile organic compounds (VOCs) during manufacturing act as a restraint for the market. Manufacture of tapes, particularly pressure-sensitive adhesive tapes, entails major environmental concerns. Adhesives such as low-viscosity natural rubber and resins are coated by solvents such as xylene and toluene while forming an adhesive layer on the backing material. Without proper containment devices, these solvents are simply released into the atmosphere.
Furthermore, the energy required to evaporate these solvents emits carbon dioxide into the atmosphere. Solvent-based adhesives contain a significant level of volatile organic compounds (VOCs), which can lead to smog formation and asthma irritations. It is often a reason for environmental concerns worldwide. Hence, the emission of VOCs during the production of tapes is anticipated to act as a restraint for the masking tapes market in India. However, innovation of hot melt, pressure-sensitive adhesives, and water-based
acrylate adhesives that do not require solvents and consume minimum energy can mitigate the restraint arising out of environmental regulations.
Highest Growth in North India
North India dominates the masking tapes market in India. The packaging segment in this region is estimated to expand at a rapid pace between 2021 and 2031. This, in turn, is projected to boost the demand for masking tapes in North India.
West India is anticipated to be a highly attractive region of the masking tapes market in India during the forecast period. The electrical & electronics segment in West India is witnessing strong growth, owing to the rise in income of the people in the region. This has led to an increase in the demand for masking tapes, thereby driving the masking tapes market in India.
Source: Transparency Market Research