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Powering Progress: Electric Vehicle Surge Fuels Growth in Automotive Adhesive Tapes Market || Saint-Gobain, 3M, Henkel AG & Co. KGaA, PPG Industries Ohio Inc
Automotive Adhesive Tapes Market
The Business Research Company's Automotive Adhesive Tapes Global Market Report 2023 identifies the rising trend of electric vehicles is expected to boost the growth of the automotive adhesive tapes market going forward. An electric vehicle (EV) refers to a vehicle that can move forward using an electric motor that draws power from a battery and can be externally charged. Automotive adhesive tape is used to permanently bind battery cells and insulate electrical components in the batteries of electric vehicles; hence the rising trend of electric vehicles is expected to boost the automotive adhesive tapes market. For instance, according to a report published by the International Energy Agency, a France-based inter-governmental organization, in 2021, sales of electronic vehicles doubled, compared to 2020, with a record of 6.6 million. In 2022, 2 million electric cars were sold in the first quarter, 75% more than the Q1 2021.
The global automotive adhesive tapes market size is expected to grow from $4.63 billion in 2022 to $4.94 billion in 2023 at a compound annual growth rate (CAGR) of 6.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of automotive adhesive tapes market is expected to reach $6.24 billion in 2027 at a CAGR of 6.0%.
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Major competitors in the automotive adhesive tapes market are Saint-Gobain, 3M, Henkel AG & Co. KGaA, PPG Industries Ohio Inc., Berry Global Inc., Sika Services AG, Avery Dennison Corporation, DIC Corporation, Nitto Denko Corporation, Lintec Corporation, Tesa SE, ORAFOL Europe GmbH, Lohmann GmbH & Co. KG, ThreeBond Holdings Co. Ltd., Shurtape Technologies LLC, Scapa Group, Coroplast Tape Corporation, MACtac.
A key trend in the automotive adhesive tapes market includes product innovation. Major companies operating in the automotive adhesive tapes market are focusing on developing new products. For instance, in August 2022, Lohmann Technologies, a US-based manufacturer of tapes and films, launched DuploCOLL LE, a range of adhesive tapes for use in vehicle interiors to bond low-emission materials. It is a portfolio of high-tech adhesive tapes with low emissions and low odors for bonding in vehicle interiors.
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The automotive adhesive tapes market is segmented -
1) By Product: Double-Sided Tapes, Masking Tapes, Reinforced Tapes, Specialty Tapes
2) By Adhesive Type: Acrylic, Silicone, Rubber, Other Adhesive Types
3) By Backing Material: Polypropylene (PP), Polyvinylchloride (PVC), Paper, Other Backing Materials
4) By Technology: Water-Based, Solvent-Based, Hot-Melt-Based
5) By Application: Wire Harnessing, Powertrain, Acoustic Insulation, Interior Attachment, Exterior Attachment, Electronics, Chassis And Wheels
6) By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the automotive adhesive tapes market.
The Business Research Company's "Global Automotive Adhesive Tapes Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Automotive Adhesive Tapes Market Include:
1. Executive Summary
2. Automotive Adhesive Tapes Market Characteristic
3. Automotive Adhesive Tapes Market Trends And Strategies
4. Automotive Adhesive Tapes Market - Macro Economic Scenario
5. Automotive Adhesive Tapes Market Size And Growth
……………
27. Automotive Adhesive Tapes Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Adhesive Tapes Market
29. Automotive Adhesive Tapes Market Future Outlook And Potential Analysis
30. Appendix
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