Automotive Tapes Market worth a CAGR of 3.16% during the forecast period 2019-2026| Key Companies - Tesa SE, 3M Company, Arkema, Nitto Denko Corporation, Avery Dennison Corporation

Automotive Tapes Market research report is a high-quality report having in-depth market research studies. This market report provides the best solutions for strategy development and implementation depending on the client's needs to extract tangible results. It helps businesses obtain granular level clarity on current business trends and expected future developments. Also, the statistical survey elaborates detailed commentary on changing market dynamics that includes market growth drivers, roadblocks and challenges, future opportunities and influencing trends to better understand Automotive Tapes Industry outlook.

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The report contributes to the development of a detailed market analysis by focusing on influencing aspects of Automotive Tapes Market such as business operational dynamics in the Automotive Tapes Industry, key organizations in the Automotive Tapes Industry, market forces analysis, innovations in the Automotive Tapes Industry, major drivers, and future growth strategies.

The global automotive tapes market size is projected to reach USD 6.40 billion. The increasing applications of the product will fuel it demand across diverse industries. According to a report published by Fortune Business Insights, titled "Automotive Tapes Market Size, Share and Global Trend by Type (Specialty, Double-sided, Masking, Others), By Function (Bonding, Masking, Noise, vibration, and harshness {NVH}, Others), By Application (Interior, Exterior, Wire Harnessing, Others) and Geography Forecast till 2026," the market was worth USD 5.17 billion in 2018 and will exhibit a CAGR of 3.16% during the forecast period, 2019-2026.

Automotive tapes are widely used across the automotive industry. The increasing emphasis on development of sustainable and durable tapes has derived huge investments from manufacturers across the world. This has caught the eye of companies from other industries, as well, and has encouraged them to deviate from their core strategies and invest in automotive tapes. The increasing emphasis on product R&D has yielded a few exceptional products in recent years and has attracted attention from consumers from consumers across the world. Variations in product offerings have allowed widespread applications, subsequently aiding the growth of the market. The healthy market competition has encouraged competitors to adopt newer strategies. Altogether, these factors will have a positive impact on the growth of the market in the coming years.

Increasing Number of Company Mergers Will Aid Market Growth

The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing company mergers and collaborations have made a massive impact on the growth of the market. In August 2019, Bostik announced that it plans to acquire Prochimir. Through this acquisition, the company plans to expand its thermos-bonding solutions. Considering the massive global reach of both of these companies, the collaboration will have a huge impact, not just on their businesses, but also on the global market. The report includes a few of the major company collaborations of recent times and gauges their impact on the growth of the market.

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Asia Pacific to Emerge Dominant; Increasing Disposable Income in Major Countries to Aid Growth

The report analyzes the ongoing automotive tapes market trends across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, the market in Asia Pacific currently holds the largest market share. The increasing disposable income in emerging countries such as India and China will emerge in favor of market growth. Besides Asia Pacific, the market in North America will also witness considerable growth. As of 2018, the market in North America was worth USD 726.99 million and this value is projected to increase further in the coming years.

Some of the leading companies that are operating in the global automotive tapes market are:

Tesa SE
3M Company
Arkema S.A.
Nitto Denko Corporation
Avery Dennison Corporation
Sika AG
Saint-Gobain
LINTEC Corporation
Scapa
Henkel AG
Others
Industry Developments:

August 2019 - Toray Advanced Composites signed an agreement with BASF SE for manufacturing and supply of continuous fibre-reinforced thermoplastic (CFRT) tapes.

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This release was published on openPR.