The report on the Automotive Adhesive Tapes Market has been launched by Stratview Research is an all-inclusive report that talks about the market structure and growth in the forecast period of 2022-2027. The report also offers insights into different market segments and other factors affecting the market.
Report Forecast:
Automotive Adhesive Tapes Market , a sizeable market, experienced a significant decline due to such trends during the pandemic, which was closely aligned with the decline in the production of automobiles. But as consumer confidence rose in 2021, the industry is gradually making a comeback. Furthermore, the market for tapes is anticipated to be driven by the quick replacement of nut and bolt fasteners to reduce vehicle weight and improve aesthetics over the forecast period. The installation of specialised components as a result of technological advancements and performance improvements in cars is expected to positively influence the automotive tapes market. Overall, the automotive adhesive tapes market is likely to rebound at a promising CAGR of 6.0% over the coming five years.
The market's growth is influenced by a number of factors that have a significant or indirect impact on demand. An overview of such factors can be found in our report, which is derived utilizing SWOT analysis, industry life cycle, and supply chain analysis. Such key information can help market participants and investors identify the low-hanging fruits in the market and establish strategic initiatives to accelerate their growth.
COVID-19 IMPACT on the Market-
The COVID-19 pandemic has influenced almost all industries, little or large, dealing in any sector.
The growth curves of the Automotive Adhesive Tapes Market have witnessed an enormous ebb and flow in the year 2022. The market scenario and the pace of growth have taken a huge turn and have prompted numerous adjustments in the cycles. 2023 is probably going to be superior to 2022 for the Automotive Adhesive Tapes Market players as the greater part of the organizations have continued their activities and the interest is getting re-established for them.
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The Cornerstones in the market-
The following are the key players in the automotive adhesive tapes market.
- L&L Products, Inc.
- Sika Automotive AG
- The 3M Company
- Specialty Pulp Manufacturing, Inc (SPMI)
- Nitto Denko Corporation
- Lida Industry Co, Ltd.
- ThreeBond Co., Ltd.
- PPG Industries
- ABI Tape Products
- Adchem Corporation
Automotive adhesive tapes market Segmentation:
The report segments based on demographics, geographics, benefits, volume, etc, have different leading factors and identify the most attractive segments and sub-segments. Market segmentation will not only help marketers to be more efficient in terms of time, money, and other resources but also allows companies to learn about their target audience so that they can tailor campaigns that lead to a roadmap to success.
The Automotive adhesive tapes market is segmented into the following categories-
By Application Type
The automotive adhesive tapes market is segmented as wire harnessing, power train, acoustic insulation, interior attachment, exterior attachment, electronics, and chassis & wheels. Interior attachment is expected to remain the biggest demand generator for automotive adhesive tapes in the market during the forecast period. This growth is attributed to the rising demand for high-end vehicles with an improved interior design and improved driving dynamics, which is expected to lead to an increase in the number of interior fittings. The high adhesive strength of the tape combined with the superior attachment of various materials is anticipated to fuel the demand for adhesive tapes in interior applications. The mounting of rubber and plastic profiles in the interior of the car, the attachment of foam and fabric to the instrument panel, the wrapping of the steering wheel, the airbag wrapping and securing, and the mounting of seat heating elements are among the various applications of adhesive tapes in automotive interior.
By Adhesive Chemistry Type
The market is segmented as solvent-based adhesives, emulsion-based adhesives, hot melt adhesives and radiation adhesives. Solvent-based chemistry is expected to remain the dominant chemistry type for automotive adhesive tapes during the forecast period. Increasing adoption of this chemistry by automotive OEMs coupled with its superior adhesion properties would drive the growth of the product in the market. High-performance solvent-based adhesives with superior bonding are typically used in these tapes. Solvent acrylic tapes are recognized for automotive applications that require longevity and durability. Moreover, the demand for adhesive technology in automotive tapes has been supported by improved performance such as better resistance to chemicals, heat, and water.
Regional Analysis
Europe is expected to remain the largest market for automotive adhesive tapes during the forecast period. Increased production of EV/HEV segment vehicles, which have higher adhesive tape penetration, and the high per vehicle tape content in the European brand automotive drive the region’s dominance in the market. There are many well-known players operating across the growing regional market. In the region, there are more than 300 manufacturing plants producing cars and trucks. These companies are making significant investments in R&D to advance the segments of hybrid and electric vehicles. Furthermore, it is anticipated that the penetration of tapes and adhesives will increase with the installation of lightweight components for lowering fuel consumption in automobiles.
The Asia-Pacific region is estimated to grow at the fastest rate in the market during the forecasted period. Initiatives taken by the governments of the region's emerging economies to attract major OEMs for EV production for the domestic market will drive the market growth in the coming years.
Report Customization Options
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- Company Profiling
- Detailed profiling of key market players (up to 3 players)
- SWOT analysis of key market players (up to 3 players)
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