LONDON--(BUSINESS WIRE)--The global automotive adhesive tapes market is expected to grow at a CAGR of close to 6% during the period 2017-2021, according to a new market research study by Technavio.
The report categorizes the global automotive adhesive tapes market by product that includes PVC automotive adhesive tapes, Polyester automotive adhesive tapes, and Polypropylene automotive adhesive tapes. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
Market driver: growing use of plastics in automobiles
Plastics are profoundly used in automobiles. Plastics are usually used in electrical components and interior and exterior furnishings of automobiles. In the automotive plastics market, the above-mentioned applications account for more than half of the total consumption. The other uses of plastic in automobiles are in powertrains, under the hood, and chassis. Biodegradable plastics that are sourced from crude oil and derivatives are in demand because of the concern of environmental sustainability.
According to Kurva Samba Sivudu, a lead analyst at Technavio for additives, adhesives, and sealants, “The quality of plastics used in automotive depend upon their properties, functions, and applications to an extent. Some of the properties considered before using any type of plastics include lightweight, versatility, and flexibility. All these types of automotive plastics use adhesive tapes to install them into the vehicle. Therefore, as the consumption of plastics is increasing in automobiles, the demand for automotive adhesive tapes across the globe will increase during the forecast period.”
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Market trend: shift from mechanical fasteners to automotive adhesive tapes
Mechanical fasteners are used to join or fasten two or more objects. These fasteners include nuts and bolts, screws and rivets, and mechanical interlocks. Traditionally, mechanical fasteners are considered the strongest and most reliable joining method. But, automotive manufacturers are slowly shifting their preference toward adhesive tapes. Adhesive tapes have proved themselves on their strength and offer a range of unique characteristics to enhance the reliability and longevity of the interlock or adhesion. One of the major benefits provided by adhesive tapes when replaced with mechanical fasteners is that they easily join and provide long-term attachment among dissimilar substrates.
Market challenge: environment factors affecting adhesive tapes
It is a fact that the use of some chemicals in the manufacturing of automotive adhesive tapes may affect the environment. Apart from this, the matter of concern in this market is the other way around as well. Many environmental changes are affecting the properties of adhesive tapes. These changes can be fluctuation in the temperature, exposure to ultraviolet rays, and excess of humidity.
Is your business on track for a successful future? Learn how Technavio can help
Technavio helps businesses anticipate changes in their marketplace, make proactive adjustments, and develop effective strategies to optimize their market positions.
Key vendors in the market
- 3M
- AVERY DENNISON CORPORATION
- H.B. Fuller
- Henkel
- LINTEC Corporation
- NITTO DENKO CORPORATION
The global automotive adhesive tapes market is highly competitive. Key factors that influence the competitive edge of the vendors are price, quality, and the distribution network. Manufacturers use several strategies to maintain their competitive existence in the market that strengthens and restructures their activities. They also try to maintain the leading position by executing new technologies and raising their profit margins. Various environmental regulations with respect to harmful effects of automotive adhesive tapes and fluctuations in raw material prices lead to the complexity of the market.
Get a sample copy of the global automotive adhesive tapes market report free of cost
Access Technavio’s continuously growing additives, adhesives, and sealants research library and find expert analysis on hundreds of markets.
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
