The global automotive adhesive tapes market size is expected to reach USD 5.46 billion by 2030, registering a CAGR of 6.1% from 2024 to 2030, 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 the vehicles is expected to drive the market. 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.
Automotive Adhesive Tapes Market Report Highlights
· The interior attachment application segment led the market and accounted for about 28.1% share of the global revenue in 2023 owing to rising demand for tapes in interior applications to improve the aesthetics of vehicles
· The Emulsion based adhesive tapes segment is also expected to witness the fastest growth at a CAGR of 8.3%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 revenue CAGR of 11.3% over the forecast period on account of the rising penetration of adhesive tapes in electric and hybrid vehicle powertrains
· Europe dominated the market and accounted for about 28% share of revenue share in 2023 and is expected to accelerate at a CAGR of over 5.0% over the forecast period, 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
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The market for automotive adhesive tapes is anticipated to grow at a strong growth rate predicted over the projection period, owing to the economic recovery in most emerging countries. The frequent suspension of public transportation, along with the virus's highly infectious nature, fueled demand for passenger automobiles, driving the demand for automotive adhesive tape products. However, unexpected circumstances resulting from the pandemic's third and subsequent waves are reflecting a gloomy picture.
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.
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We segmented the automotive adhesive tapes market on the basis of on application, adhesive chemistry, backing material, and region:
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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Growing demand from packaging, construction, automotive, and healthcare industry is the primary driving factor of the adhesive tape market.
The growing demand from healthcare, electronic, automotive, and construction is driving the global adhesive tapes market.Adhesive tape manufacturers are witnessed investing in the advanced technology.
The pressure-sensitive adhesives tapes provide easy labelling at low temperatures, and ultra-violet acrylate adhesives enable high aging resistance.
International players who are increasingly expanding their footprint in the developing economy, making it difficult for regional vendors to compete with them, especially in terms of features such as product differentiation, product portfolios, quality, and pricing.
In order to maintain the position and share in the market, major players have adopted certain strategies.In September 2017, Bostik, a leading global adhesive specialist for industrial, construction and consumer markets, will present and exhibit at PACK EXPO in Las Vegas, NV September 25-27.
As North America’s premier packaging event, PACK EXPO connects packaging engineers, designers, purchasers, plant managers and more, featuring product demos and educational sessions in addition to its exhibit hall.
There are all kinds of safety innovations that have been making Texas highways less dangerous for years and years, and you are likely aware of a lot of them.
But do you know about crash attenuator trucks?
You have almost certainly seen a crash attenuator at some point, even if you didn’t know that was what you were looking at.
Crash attenuators are affixed to the ends of most roadside barriers on Texas highways.
They are typically metal or plastic structures that are marked with yellow and black diagonal stripes.
Crash attenuator trucks are particularly useful on construction sites, because they are mobile and can be placed wherever they need to be.
A driverless car running on the road is like a screenshot from a sci-fi movie.
AI technology complements the concept of self-driving cars.Elon Musk had in 2017 that all cars will be #autonomous in 10 years without any steering wheel.
Installation of self-sufficient cars.AI & Automotive — Use casesThe following is the wave of disruptions caused by AI in the automotive industry at high levels of abstraction.Use Case 1 — Design:From brainstorming to developing a working car model, design and development engineers consider many aspects to be as user-friendly as possible.Here are some use cases that show how OEMs use AI to accelerate their designworkflows:Nvidia’s architecture uses AI, real-time ray tracing and programmable shading to transform the traditional product design process.
This reduces the time taken for design approval.General Motors DreamCatcher uses Machine Language (ML) for economic modeling.To Know About- Predictions On Self Driving Car Timeline From Top Automakers In The WorldThe future of car designs lies with generative design, where AI algorithms produce hundreds of potential designs by defining a product idea or problem.
Therefore, companies like Konex feed the sensor data into an AI system that crunches to improve system performance.Future auto factories will only have flexible production centers under the supervision of unmanned systems such as the Audi Vision 2035 Smart Factory.Use Case 3 — Supply Chain:The automotive supply chains are one of the most complex networks in the world.
AI-powered supply chains are being used to analyze massive amounts of data that can be accurately predicted.Blue Yonder uses AI techniques to optimize its estimation and replenishment while adjusting prices.To Know About-AI In Transportation: Artificial Intelligence in the Transportation IndustryAI allows fully automated automation systems to make supply-chain management decisions, adjust routes and volumes to meet projected spikes.Use Case 4 — Quality Control:Quality control, such as inspecting painted car bodies, is slow, laborious, and vulnerable.
The report "Adhesive Tapes Market by Resin Type (Acrylic, Rubber, Silicone), Backing Material (PP, Paper, PVC), Technology (Solvent, Hot-Melt, Water Based), End-Use Industry (Packaging, Healthcare, E, Automotive) and Region - Global Forecast to 2025", is projected to grow from USD 60.4 billion in 2020 to USD 79.9 billion by 2025, at a CAGR of 5.7% during the forecast period.
The major factor driving the adhesive tapes market includes the increase in demand from end-use industries such as packaging, healthcare, electrical & electronics, and automotive.
These adhesive tapes have wide acceptability due to factors such as low cost and easy availability, as compared to its substitutes - staples and glue.Get PDF brochure of the report: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=251563138Browse 146 market data Tables and 66 Figures spread through 203 Pages and in-depth TOC on "Adhesive Tapes Market”Silicone is estimated to grow at the highest CAGR during the forecast periodSilicone-based adhesive tapes are non-conductive in nature.
Over the past few years, the demand for silicone-based adhesive tapes has been increasing in various end-use industries.Hot-melt technology is expected to grow at the highest CAGR during the forecast periodThe hot-melt technology segment is projected to witness the highest growth during the forecast period.
In the US, hot-melt technology is widely used in tape production by key players, such as 3M Company (US) and Intertape Polymer Group, Inc. (Canada).Paper is estimated to be the fastest-growing backing material in the adhesive tapes market during the forecast periodThe paper segment is projected to register the highest CAGR between 2020 and 2025.
Paper adhesive tapes are used in healthcare, automotive, electrical & electronics, and building & construction industries.https://www.prnewswire.com/news-releases/adhesive-tapes-market-worth-79-9-billion-by-2025--exclusive-report-by-marketsandmarkets-301030831.htmlAPAC is estimated to be the largest as well as the fastest-growing adhesive tapes marketAPAC is estimated to account for the largest share of the adhesive tapes market during the forecast period.
