The Automotive adhesive tape market was valued at US$ 8.140 billion in 2018 and is estimated to grow at a CAGR of 6.50% during the forecast period 2018-2024. Automotive adhesive tapes are increasingly deployed under the bonnet, on the body, and the interior and exterior trims of the car. The demand for these tapes is largely driven by the need to reduce the vehicle weight to the minimum since it offers clear advantage over the traditional mechanical fixing. Growing automotive production across the globe is playing an important role in the augmented consumption of adhesive tapes. With this, burgeoning investments in electric vehicle is further going to propel the market growth since these tapes will be used to ensure user safety. Thus, the market is expected to grow at a good rate over the forecast period owing to growing adoption of electric vehicle and increased focus towards reducing vehicle weight to reduce emission rate.
Burgeoning automotive production
Rising Investments in electric vehicle
Presence of alternative method for automotive fixing
In July 2017, Intertape Polymer Group completed transaction to acquire Canadian Technical Tape Ltd. In order expand their offerings of automotive tapes in North America region.
The major players profiled in the Automotive adhesive tape market include 3M, tesa SE, NITTO DENKO CORPORATION, AVERY DENNISON CORPORATION, HENKEL AG, Scapa Group plc, Lohmann GmbH & Co. KG, LINTEC Corporation, Intertape Polymer Group, Shurtape Tehnologies, LLC., BOSTIK, DIC Corporation, GERGONNE, TOYOCHEM CO., LTD., and Parafix Tapes & Conversions Ltd.
The Automotive adhesive tape market has been analyzed through the following segments:
By Coating Technology
Middle East and Africa