Press release
The Global Automotive Adhesive tape Market is Anticipated to be Valued at USD 11.91 Billion By 2024, According to Research Nester
Automotive adhesive tape is a thin strip of adhesive coated on plastic and is used to assemble, coat or stick parts together. These tapes do serve the purpose of lamination of bolts and welds in the automobile industry. Rapid growth of automobile industry is garnering the growth of automotive adhesive tape market. It cannot be ignored that automotive adhesive tapes are cheaper than conventional mechanical fasteners which have further foster the growth. Apart from this, demand of lightweight vehicles has led to the replacement of mechanical fasteners with adhesive tapes.
Based on application, it is fragmented as interior application and exterior application. Interior application part covers cable harness and part assembling. On the other hand, exterior usage covers labeling and fixing parts. Interior application tapes accounts for the largest market share of automotive adhesive tapes market. Further, these tapes are backed by various materials such as PVC and clothes to increase their strength and tear and wear resistance.
On 26 April 2017, Strouse manufacturer announces their expansion in Westminster, U.K.
Market Size and Forecast
Global Automotive Adhesive tape Market is expected to reach USD 11.91 billion by 2024 from USD 7.2 billion in 2016. Further, automotive adhesive tape market is anticipated t0 witness a CAGR (compound annual growth rate) of 5.27 % over the forecast period 2017-2024.
Asia-Pacific held the largest percentage market share in 2016 and is anticipated to continue its dominance over the forecast period. Further, Asia-Pacific automotive adhesive tape market is expected to grow at a CAGR of 5.79 % owing to the rise in demand and manufacture of automobiles. Countries such as China, Japan, India and South Korea are the major automotive adhesive tapes utilizer accounting for more than 80% consumption. Europe is anticipated to witness slower growth rate than Asia-Pacific.
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Furthermore, North America captures more than 22% market share and is envisioned to bolster automotive adhesive tape market due to the existence of major companies such as 3M and PPG Company. Apart from this, new advance technologies and development of efficient and long lasting tapes is expected to propel the market over the forecast period.
Moreover, riding on the back of rising demand of automobiles and setup of manufacturing plants, the market of Latin America is anticipated to witness during the forecast period.
Market Segmentation
Our in-depth analysis segmented the global automotive adhesive market in the following segments:
By Types
Polyester Tapes
Polypropylene Tapes
Paper Tape
Polyvinyl Chloride Tapes
Foam Tapes
Cloth Tapes
By Material Type
Acrylic
Natural rubber
Butyl
Others (Anaerobic Adhesives, epoxy adhesives)
By Backing Material
Masking tapes
Double-sided tapes
Reinforced tapes
Specialty tapes
By Application
Interior
Exterior
By Region
Global Automotive Adhesive tape market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
Western and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth & Opportunity Analysis
Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, South Korea & Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis
Middle East and North Africa (MENA) Market Size and Y-O-Y Growth Analysis
Growth Drivers and Challenges
Rise in demand of lightweight vehicles automobiles is expected to be dynamic factor behind the quick growth of automotive adhesive tape market. Automotive manufacturers are moving from mechanical fasteners to automotive adhesive tape to cut down the weight of vehicles. Apart from this, increasing number of plastic parts in automobiles is expected to grow the demand of automotive adhesive tape all over the world. Increasing usage of exterior applied adhesive can be expected to positively impact the demand.
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However, legislation regarding the prohibition on use of certain chemicals and lack of environment friendly adhesive tapes is anticipated to restrain the growth of global automotive adhesive tape market.
Key players
Dow Chemical Company
Avery Dennison Corporation
3M Company
HB fuller
Tesa SE
Intertape Polymer Group
Lohmann GmbH & Co. Kg.
Scapa Group Plc
Shurtape Technologies, LLC
Lintec Corporation
Scope and Context
Overview of the Parent Market
Analyst View
Segmentation
The Global Automotive Adhesive tape Market is segmented as follows:
By Type Market Size & Y-O-Y Growth Analysis
By Material Type Market Size & Y-O-Y Growth Analysis
By Backing Material Market Size & Y-O-Y Growth Analysis
By Application Market Size & Y-O-Y Growth Analysis
By Region Market Size & Y-O-Y Growth Analysis
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.
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Name:-Ajay Daniel
Email: ajay.daniel@researchnester.com
U.S. +1 646 586 9123
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