The global automotive adhesive
tapes market is expected to reach USD11.54 billion by 2024, according to a new
report by Grand View Research, Inc. Rising demand for adhesive tapes in an
extensive range of applications including noise, vibration, masking, electrical
insulation, wire harnessing, device insulation, surface protection, labeling,
auto body repairs, and automotive dash will fuel industry growth over the
forecast period. Replacement of fasteners by automotive adhesive tapes coupled
with the introduction of new environment-friendly products will propel the
market growth.
Polyvinyl chloride (PVC) was
the largest segment and accounted for 31.4% of the overall volume in 2015 and
is expected to witness significant rise on account of superior properties including
excellent bonding, high adhesion, water resistant and good adhesion to metals.
Increasing demand for lamination, insulation, protection and masking of
automotive wires will propel industry expansion over the forecast period.
Double-sided tapes are expected
to witness significant volume rise at a CAGR of 6.6% from 2016 to 2024 as on
account of its durability, reliability, and sufficient bonding & fixing
properties. Furthermore, increasing applications in automotive interior parts
in light of better resistance and excellent tacky ability will promote industry
expansion over the forecast period.
In depth research report on Automotive Adhesive Tapes
Market
Further key findings from the report suggest:
•
The global market demand was
5,745.8 million square meters in 2015 and is expected to show high gains in
light of growing vehicle production in China, India, and Mexico
•
Natural rubber was a prominent
segment and accounted for 28.1% of the overall revenue. The product will show
growth in light of superior properties including high flexibility, and
versatility, and high adhesion.
•
North America accounted for
over 20% of the global volume share and is expected to witness significant
gains in light of robust manufacturing base and rapid growth of the automotive
sector in the U.S. and Mexico. National policies promoting the development of
vehicles, fuel efficiency, and green policy will also impact future automotive
trends. Moreover, the presence of various manufacturers including Dow Company,
3M Automotive, and PPG Automotive will augment growth.
•
Latin America is expected to
witness significant revenue growth at a CAGR of 7.3% from 2016 to 2024 as a
result of increasing automotive vehicle sales in Argentina, Brazil, and
Columbia. Increasing foreign investment in the automotive sector in the region
is expected to open new market avenues over the next eight years.
•
Automotive adhesive tapes
industry is dominated by key participants including 3M, Tesa SE, Lintec, and
Nitto Denko Corporation. Ongoing product development by various companies to
manufacture high-performance and cost-efficient adhesive tapes is expected to
augment product consumption over the forecast period.
•
In August 2015, Shurtape
launched FP 115 high-performance flatback paper tape to offer moisture
resistance and stronghold for the tube, paper, and core manufacturing. In July
2014, Shurtape expanded its line of double-coated tapes with the introduction of
DP 401 polyester film tape designed for polyethylene foam fabrication and
lamination processes.
Grand View Research has
segmented the global automotive adhesive tapes market on the basis of adhesive
type, backing material, product, application, and region:
Global Automotive Adhesive Tapes Adhesive Type Outlook
(Volume, Million Square Meters; Revenue, USD Million, 2013 - 2024)
•
Acrylic
•
Natural rubber
•
Butyl
•
Others
Global Automotive Adhesive Tapes Backing Material Outlook
(Volume, Million Square Meters; Revenue, USD Million, 2013 - 2024)
•
Polypropylene
•
Paper
•
Cloth
•
Foam
•
PVC
•
Others
Global Automotive Adhesive Tapes Product Outlook (Volume,
Million Square Meters; Revenue, USD Million, 2013 - 2024)
•
Masking tapes
•
Double-sided tapes
•
Reinforced tapes
•
Specialty tapes
Global Automotive Adhesive Tapes Application Outlook
(Volume, Million Square Meters; Revenue, USD Million, 2013 - 2024)
•
Interior
•
Exterior
Global Automotive adhesive tapes Regional Outlook (Volume,
Million Square Meters; Revenue, USD Million, 2013 - 2024)
•
North America
o
U.S.
•
Europe
o
Germany
•
Asia Pacific
o
China
o
India
•
Latin America
o
Brazil
•
MEA
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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