Market Research Report
Automotive Adhesive Tapes Market Size, Share & Trends Analysis Report By Application (Powertrain, Interior Attachment), By Adhesive Chemistry (Solvent, Emulsion), By Region (North America, Europe), And Segment Forecasts, 2020 - 2028
|Automotive Adhesive Tapes Market Size, Share & Trends Analysis Report By Application (Powertrain, Interior Attachment), By Adhesive Chemistry (Solvent, Emulsion), By Region (North America, Europe), And Segment Forecasts, 2020 - 2028|
Published: September 1, 2021
Grand View Research, Inc.
Content info: 133 Pages
Delivery time: 2-10 business days
Automotive Adhesive Tapes Market Growth & Trends
The global automotive adhesive tapes market size is expected to reach USD 4.73 billion by 2028, registering a CAGR of 7.3% over the forecast period, according to a new report by Grand View Research, Inc. Growing usage of advanced functional materials to improve aesthetics, reduce weight, and enhance the performance of vehicles is expected to drive the market growth.
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 product demand. In addition, the increasing focus of manufacturers on the development of lightweight vehicles will augment the product demand.
The global automotive market is witnessing switching trends with growing popularity and demand for Electric Vehicles (EVs). 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 product demand.
Automotive Adhesive Tapes Market Report Highlights
The interior attachment application segment accounted for the largest revenue share in 2020 owing to high demand for vehicles with improved aesthetics
Emulsion-based adhesive tapes are expected to witness the fastest CAGR on account of the wide usage of these products in permanent application in car exteriors
The powertrain application segment is expected to witness the fastest growth on account of the rising product penetration in electric and hybrid vehicle powertrains
Europe dominated the global market, in terms of revenue share, in 2020 owing to the high per vehicle content of tapes in the European automotive car models
Key market players focus on improving the product application scope in niche areas, such as powertrains and battery compartments, which is expected to drive the industry growth