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.
Browse full research report on Automotive Adhesive Tapes
Market: http://www.grandviewresearch.com/industry-analysis/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.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/plastics-polymers-and-resins
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
- U.S.
- Europe
- Germany
- Asia
Pacific
- China
- India
- Latin
America
- Brazil
- MEA
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, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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