“Automotive Adhesive Tape Market: Global Demand Analysis & Opportunity Outlook 2024” —
The global automotive adhesive tape market is segmented into application such as interior and exterior. Among these segments, interior automotive adhesive tape segment is expected to occupy top position in overall automotive adhesive tape market during the forecast period. Wide scale utilization of automotive adhesive tape for wire harnessing, noise and vibration harnessing is the major driving factor of the interior automotive adhesive tape segment. Moreover, replacement of fasteners by automotive adhesive tapes is anticipated to fuel the growth of the global automotive adhesive tape market.
Global automotive adhesive tape market is expected to flourish at a significant CAGR of 7.02% during the forecast period. Moreover, the global automotive adhesive tape market is expected to garner USD 37.68 Million by the end of 2024. Growing demand for automobiles across the globe is expected to strengthen the growth of automotive adhesive tape market in the upcoming years. Further, increasing usage of automotive adhesive tape over fasteners is anticipated to drive the growth of the market of automotive adhesive tape market.
Asia Pacific dominated the overall automotive adhesive tape market and is expected to continue its dominance over the forecast period. This can be attributed to significant growth of vehicle production in the region. Countries such as China, India, Japan and South Korea are witnessing the augmented demand for automotive adhesive tapes. North America captured 23% market share in global automotive adhesive tape market in 2016. Moreover, favorable government policies are boosting the demand for automotive adhesive tapes. Further, presence of major manufacturers in the region is expected to strengthen the growth of automotive adhesive tape market in North America.
Rising Production of Automotive Vehicles
Increasing demand and production of automotive vehicles across the globe is anticipated to spur the growth of the automotive adhesive tape market. Moreover, increasing utilization of automotive tapes to fit mirrors, badges and other parts are believed to trigger the growth of automotive adhesive tape market during the forecast period.
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Major initiatives by government agencies to increase the fuel economy are anticipated to drive the growth of the automotive adhesive tape market. Moreover, rising demand for lightweight vehicle is anticipated to propel the growth of the global automotive adhesive tape market. Although, rising environmental concerns may dampen the growth of automotive adhesive tape market during the forecast period.
The report titled “Automotive Adhesive Tape Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global automotive adhesive tape market in terms of market segmentation by type, by mechanism, by technology, by vehicle class and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global automotive adhesive tape market which includes company profiling of The Dow Chemical Company, Avery Dennison Corporation, 3M Company, H.B. Fuller Company, Tesa SE, Intertape Polymer Group, Lohmann GmbH & Co. Kg., Scapa Group Plc, Shurtape Technologies, LLC and Lintec Corporation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global automotive adhesive tape market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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