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NEW YORK , April 27, 2022 /PRNewswire/ -- The automotive adhesive tapes market size is set to grow by USD 3.29 billion from 2021 to 2026 as per the latest market report by Technavio. The report projects the market to progressing at a CAGR of 5.54%. 49% of the market's growth will originate from APAC during the forecast period. China , Japan , and India are the key markets for automotive adhesive tapes in APAC. Market growth in this region will be faster than the growth of the market in South America. The significant increase in the demand for HCVs owing to large-scale real estate projects to provide residential support to new urban dwellers will facilitate the automotive adhesive tapes market growth in APAC over the forecast period
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Automotive Adhesive Tapes Market: Segmentation Analysis
The market research report segments the automotive adhesive tapes market by Application (Interior, Exterior, and Others ), Material (Polypropylene, Paper, and Others), and Geography (APAC, Europe , North America , South America , and the Middle East and Africa ).
The automotive adhesive tapes market by interior segment will be significant for revenue generation. The significant increase in the sales volume of luxury and premium segments of vehicles will drive the automotive adhesive tapes market growth through this segment in the coming years.
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Automotive Adhesive Tapes Market: Cost of operation for adhesive tape application is low to drive growth
The key factor driving the global automotive adhesive tapes industry growth is the low cost of operation for adhesive tape applications. Other advantages of employing the adhesive tapes for assembly functions include low cost, easy assembly, low labor requirement, and short post-assembly curing time. All these factors are considered on a comparative degree to other joining methods, such as design locking, bolting, clamping, welding, adhesive application, and others. The low cost of implementation of adhesive tapes in the assembly process is a major advantage, which will accelerate the demand for automotive adhesive tapes, which in turn, will drive the market growth in the forecast period.
Automotive Adhesive Tapes Market: Adhesive tapes cannot be used for critical functions, making it a challenge for market growth
Adhesive tapes cannot be used for critical functions, which may challenge the global automotive adhesive tapes market growth. The applications with high-temperature exposure, chemical and oil exposure, and others restrict the applicability of such tapes in the complete joining process. In such cases, end users may use spot welding, bolting, automated adhesive infusion, clamping, and locking design for joining, which covers about 53% of the assembly process in the production line. Adhesive tapes have to advance to a high level to replace the primitive spot welding techniques, which can reduce the overall manufacturing overhead and increase adhesive tape application even in the joining of strong mechanical application components. Thus, such factors may hamper the demand for these tapes in the coming years.
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Automotive Adhesive Tapes Market Scope
Accelerate at a CAGR of 5.54%
Leading companies, competitive strategies, consumer engagement scope
3M Corp., Avery Dennison Corp., Berry Global Inc., Coating and Converting Technologies Inc., Compagnie de Saint Gobain SA, Coroplast Fritz Muller GmbH and Co. KG, GERGONNE INDUSTRIE, Henkel AG and Co. KGaA, Intertape Polymer Group Inc., L and L Products Inc., LINTEC Corp., Lohmann GmbH and Co.KG, Nitto Denko Corp., ORAFOL Europe GmbH, PPI Adhesive Products Ltd., Schweitzer Mauduit International Inc., Shurtape Technologies LLC, Sika AG, tesa SE, and THREEBOND INTERNATIONAL Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
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About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com/
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