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The automotive adhesive tapes market size is predicted to surge by USD 3.29 billion at a CAGR of 5.54% by 2026.
This automotive adhesive tapes market research report extensively covers segmentation by:
The automotive adhesive tapes market report also offers information on several market vendors, including 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. among others. Furthermore, our analysts have provided valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches for the coming years.
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The cost of operation for adhesive tape application is low is notably driving the automotive adhesive tapes market growth, although factors such as adhesive tapes cannot be used for critical functions may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive adhesive tapes industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Automotive Adhesive Tapes Market Driver
One of the key factors driving the global automotive adhesive tapes industry growth is the low cost of operation for adhesive tape application. 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.
Key Automotive Adhesive Tapes Market Trend
High-performance adhesive tapes for advanced aerodynamic application is one of the key automotive adhesive tapes market trends that is expected to impact the industry positively in the forecast period. The newly developed adhesive tape in any industry can be parallelly deployed in other industries with a similar application. In addition, automotive adhesive tapes have high bonding strength, low net thickness, high flexibility, high functionality and peel resistance, and high load capability both axial load and transverse load. As per the experts, this technology can have a direct application in the vehicles for the fabrication of lightweight, aerodynamic structures to be assembled on the exterior structure owing to their high load capability feature.
Key Automotive Adhesive Tapes Market Challenge
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.
This automotive adhesive tapes market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global automotive adhesive tapes market as a part of the global automotive components and accessories market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive adhesive tapes market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the automotive adhesive tapes market encompasses successful business strategies deployed by the key vendors. The automotive adhesive tapes market is fragmented and the vendors are deploying growth strategies such as collaborations, new product launches, and partnerships to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The automotive adhesive tapes market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the automotive adhesive tapes market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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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. For instance, the Government of India has undertaken the Pradhan Mantri Awas Yojana aimed to provide affordable housing to the urban poor with a target of building 20 million affordable houses by 2022.
This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, APAC was the epicenter of COVID-19. To control the spread of the disease, the regional governments have imposed lockdowns which negatively impacted the industrial process. In addition, the supply chain management was also affected due to the restrictions on the movement and sealed borders. However, regional government initiatives such as mass vaccination drives and public gathering restrictions in the region resulted in the rapid recovery from the pandemic, and gradually the demand and supply chain increased. Therefore, the market is expected to recover and grow in the coming years.
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The automotive adhesive tapes market share growth by the interior segment will be significant in the forecast period. 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.
This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive adhesive tapes market size and actionable market insights on post COVID-19 impact on each segment.
Automotive Adhesive Tapes Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.54% |
Market growth 2022-2026 |
$ 3.29 billion |
Market structure |
Fragmented |
YoY growth (%) |
5.4 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 49% |
Key consumer countries |
US, China, Japan, India, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
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. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Market Segmentation by Material
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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