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0 Research Nester published a report titled “Automotive Tapes Market: Global Demand Analysis & Opportunity Outlook 2033” which delivers detailed overview of the global automotive tapes market in terms of market segmentation by type, function, application, material and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
Introduction
The Automotive Tapes Market refers to the global market for tapes and adhesives used in the automotive industry. These tapes are widely used in various applications such as bonding, masking, sealing, and protecting surfaces in automobiles. They are primarily used for interior and exterior applications in cars, trucks, buses, and other types of vehicles. The automotive tapes market includes a variety of products such as double-sided tapes, foam tapes, single-sided tapes, cloth tapes, and others. The growth of the automotive tapes market is driven by factors such as increasing demand for lightweight vehicles, growing use of advanced materials in the automotive industry, and rising demand for electric vehicles.
The global automotive tapes market is anticipated to grow with a CAGR of ~4% during the forecast period, i.e. 2023-2033. The market is segmented by application into interior, exterior, wire harnessing, electric vehicle, and others. Out of these, the electric vehicle segment is attributed to garner the highest market share by 2033, owing to its high demand and production rate. As per the reports of International Energy Agency, the number of electric vehicles sales in 2021 surpassed sales of year 2020, with nearly doubling to 6.6 million.
The global automotive tapes market is estimated to garner a noteworthy revenue by the end of 2033. With the increasing global concern on climate change and carbon dioxide emission, automobile manufacturers are focused to improve fuel efficiency of the vehicles. The switching of automobile manufacturers to aluminum and composite materials as a building platform for vehicles have the made the production costs higher. Therefore, the automotive industry is adopting automotive tapes instead of rivets and bolts to reduce costs. Structural adhesive tapes are engineered for multi-material bonding and joining and are the excellent adhesive solution for lightweight and high-performance designs. Thus, a boost in the automotive industry is expected to increase the sales of automotive tapes in the assessment period.
Automotive tapes are used for a variety of applications in the automotive industry, including:
- Attachment of exterior trim: Automotive tapes are commonly used to attach exterior trim such as body moldings, door edge guards, and rocker panel trim.
- Mounting of badges and emblems: Tapes are also used to mount badges, emblems, and decals on the exterior of vehicles.
- Bonding of interior components: Tapes can be used to bond a range of interior components such as dashboards, headliners, and carpeting.
- Sealing and protection: Tapes are used to protect against water, dust, noise, and vibration by sealing gaps around doors, windows, and other areas of the vehicle.
- Electrical insulation: Some types of automotive tapes are designed for electrical insulation and can be used to protect wiring and harnesses from moisture and abrasion.
Overall, automotive tapes provide a reliable and cost-effective solution for many applications in the automotive industry.
Geographical Region
Geographically, the global automotive tapes market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in Asia Pacific region is estimate to garner the largest market share by the end of 2033, on the back of increased sales and production of vehicles. International Organization of Motor Vehicles, stated that the total production of vehicles in the region was 46,732,785 units in 2021, a rise from 44,276,549 units in 2020.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
The Automotive Tapes Market is a global market with a presence in all major regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America is one of the largest markets for automotive tapes due to the strong demand from the US automotive industry. The region is also home to some of the leading manufacturers of automotive tapes.
Europe is another significant market for automotive tapes due to the presence of several automobile manufacturers in the region. Countries such as Germany, France, Italy, and the UK are major consumers of automotive tapes in this region.
The Asia Pacific region is expected to be the fastest-growing market for automotive tapes due to the growing demand for automobiles in countries like China, India, Japan, South Korea, and Indonesia. The region has witnessed significant investment by leading automotive manufacturers, thereby driving the growth of the market.
Latin America and the Middle East & Africa are also showing promising growth opportunities for the automotive tapes market due to the increasing demand for automobiles in these regions. However, the market share of automotive tapes in these regions is relatively smaller compared to other major regions.
Rise in Demand and Sales of Automobiles to Drive the Market Growth
The automotive sector is embracing lightweight and affordable materials more and more, and the market for automotive tapes is anticipated to expand. Automotive tapes are used for a variety of tasks, including masking, mirror assembly, mounting parts inside, covering holes, and wire harnessing which is expected to fuel the growth of automotive tapes market. It was estimated that an average consumption of automotive tape in producing a vehicle is almost one-fourth while harnessing the long wires. Thus, an increase in production rate of automobiles is expected to drive the market growth.
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However, the low adoption rate in developing countries owing to less amount of awareness along with extra expenses incurred in production cycles and rising government policies regarding carbon dioxide emission by vehicles is expected to operate as key restraint to the growth of the global automotive tapes market over the forecast period.
Market Players
This report also provides the existing competitive scenario of some of the key players of the global automotive tapes market which includes company profiling of Tesa SE, BASF, 3M, Arkema, Nitto Denko Corporation, Avery Dennison, Sika AG, Henkel Corporation, LINTEC Corporation, Saint-Gobain Group, and others. 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 tapes 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.
Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision in order to avoid future uncertainties.
