Global Automotive Adhesive Tapes Market is Projected to Reach USD 7.5 Billion by 2020

Date: 2015-12-13

The global automotive adhesive tapes market is projected to reach USD 7.5 billion by 2020, growing at a CAGR of 5.1% between 2015 and 2020. The main reason for the growth of this market is the increasing production of automobiles and its components YoY. Lightweight revolution in the automotive industry has been driving the growth of this market over the years. Automotive adhesive tapes are now replacing other fastening products due to their lightweight and quality performance.

“ Interior application segment is the biggest application “
Interior and exterior segments are two major applications of the automotive adhesive tapes. In the interior application, automotive adhesive tapes are utilized for wire harness, part mounting/fixing, NVH, and so on. In the exterior application segment, automotive adhesive tapes are used for part mounting/fixing, labelling, masking and so on. The interior application is expected to witness the highest CAGR during the forecast period.

“ Asia-Pacific is the biggest regional segment”
Asia-Pacific is the global leader in the consumption of automotive adhesive tapes and this dominance is expected to continue till 2020. China, Japan, and India are the key countries in this region, consuming more than 75% of the demand for automotive adhesive tapes in Asia-Pacific. It is projected to witness the highest CAGR from 2015 to 2020 owing to increase in total disposable income and rising number of vehicle production YoY in this region.

Further, as a part of qualitative analysis, the research provides a comprehensive review of major market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by different market players, such as 3M Company (U.S.), Nitto Denko Corporation (Japan), Tesa SE (Germany), Avery Dennison Corporation (U.S.), Henkel AG & Company KGaA (Germany), Intertape Polymer Group (Canada), Lintec Corporation (Japan), Shurtape Technologies, Llc. (Canada), Scapa Group Plc (U.K.), and Lohmann GmbH & Co.KG (Germany).

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