SAN FRANCISCO, June 2, 2022 /PRNewswire/ — The global automotive adhesive tapes market size is expected to reach USD 5.5 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.5% from 2022 to 2030. Growing usage of advanced functional materials to improve aesthetics, reduce weight and enhance the performance of the vehicles is expected to drive the market.
Key Industry Insights & Findings from the report:
The interior attachment application segment accounted for revenue valued at USD 912.2 million in 2021 owing to rising demand for tapes in interior applications to improve the aesthetics of vehicles.
The emulsion-based adhesive tapes segment is expected to witness the fastest growth at a revenue CAGR of 8.8% over the forecast period as the industry is witnessing rising concerns of VOC emissions and thus expect stringent regulations pertaining to the same in the future.
The powertrain application segment is expected to witness a notable CAGR of 12.0% over the forecast period on account of the rising penetration of adhesive tapes in electric and hybrid vehicle powertrains.
Europe dominated the market in terms of revenue and was valued at USD 858.5 million in 2021, owing to the high per vehicle content of tapes in the European automotive brands.
Manufacturers operating in the market are looking forward to understand the emerging sub-segment application of tapes in vehicles to gauge the market potential in the future.
Get more Insights from 133-page market research report, “Automotive Adhesive Tapes Market Size, Share & Trends Analysis Report By Application (Powertrain, Electronics), By Adhesive Chemistry (Solvent, Emulsion, Radiation), By Region, And Segment Forecasts, 2022 – 2030“, published by Grand View Research.
Automotive Adhesive Tapes Market Growth & Trends
There has been a positive outlook in the automotive sector across the developed markets such as the U.S. to developing markets such as India. Technological developments and performance enhancements in vehicles have led to the installation of specialized components, which is expected to have a positive impact on the automotive tapes market.
The market is witnessing switching trends with growing popularity and demand for electric vehicles. Prominent vehicle manufacturers are aiming to comply with environmental standards and emission norms by reducing vehicle pollutants at a significant level. Thus, battery-operated vehicles including cars, mini trucks, and others are gaining popularity across the globe, which in turn is expected to drive the penetration of automotive adhesive tapes.
Automotive Adhesive Tapes Market Segmentation
Grand View Research has segmented the global automotive adhesive tapes market on the basis of application, adhesive chemistry, and region:
Automotive Adhesive Tapes Market – Application Outlook (Volume, Million Square Meters; Revenue, USD Million, 2017 – 2030)
Wire Harnessing
Powertrain
Acoustic Insulation
Interior Attachment
Exterior Attachment
Electronics
Chassis & Wheels
Automotive Adhesive Tapes Market – Adhesive Chemistry Outlook (Volume, Million Square Meters; Revenue, USD Million, 2017 – 2030)
Solvent-based Adhesives
Emulsion-based Adhesives
Hot Melt Adhesives
Radiation Adhesives
Automotive Adhesive Tapes Market – Regional Outlook (Volume, Million Square Meters; Revenue, USD Million, 2017 – 2030)
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Asia Pacific
China
India
Japan
South Korea
Rest of World
List of Key Players of Automotive Adhesive Tapes Market
L&L Products, Inc.
Sika Automotive AG
The 3M Company
Nitto Denko Corporation
Lida Industry Co, Ltd.
ThreeBond Co., Ltd.
PPG Industries
ABI Tape Products
Adchem Corporation
Avery Dennison Corporation
Saint Gobain
Berry Plastics
tesa SE
Lintec Corporation
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Electric Vehicles Adhesives Market – The global electric vehicles adhesives market size is expected to reach USD 329.5 million by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 26.6% from 2020 to 2027. Rising preference for adopting environmental friendly vehicles in order to curb carbon footprints of the earth is expected to boost the market growth over the forecast period.
Automotive Air Filters Market – The global automotive air filters market size is expected to reach USD 5.4 billion by 2025, expanding at a CAGR of 4.8%, according to a new report by Grand View Research, Inc. Stringent government regulations related to automotive emissions, coupled with rising fuel-efficient vehicles, are likely to propel market growth.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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