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.
Related Press Release@ Automotive Adhesive Tapes Market Report
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
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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