Latest News- Automotive Adhesive Tapes Market: Interior is expected to lead the Application segment during 2024-2028

The Automotive Adhesive Tapes Market is being driven by Cost of operation for adhesive tape application is low

The Automotive Adhesive Tapes Market is expected to grow at a CAGR of 4.5% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2599.4 million. In the industrial landscape, there is a growing demand for high-performance adhesive tapes that cater to various applications. These advanced tape materials, featuring superior bonding strength, low net thickness, high flexibility, functionality, and excellent peel resistance, can be adopted across industries with similar use cases. The automotive sector is poised to benefit significantly from this technology, as it offers potential for the production of lightweight, aerodynamic vehicle components. These components, assembled using the adhesive tape, can enhance vehicle performance and fuel efficiency while reducing overall weight and production costs. The high load capability of these tapes, both axial and transverse, makes them an ideal solution for automotive manufacturing processes. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on segments_for_ai.nslist

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Cost of operation for adhesive tape application is low
• Increasing sales of SUVs
• Adhesive tapes can help to achieve European Union and CAFE regulations

However, the market also witnesses some limitations, which are as follows:

• Adhesive tapes cannot be used for critical functions
• Integrated structure design process
• VOC emission control

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Market Scope in Automotive Adhesive Tapes Market Research Report

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Research Analysis Overview

The Automotive Adhesive Tapes Market encompasses various types of adhesive tapes used in the production and aftermarket services of automobiles, including lightweight passenger vehicles and public transportation. OEMs utilize these tapes in assembling components, such as electric car batteries and mechanical fasteners like nuts and bolts. With the rise of electric and hybrid vehicles, environmental standards and emission norms have increased the demand for battery-operated vehicles, leading to an increased need for adhesive tapes in their manufacturing. Autonomous driving technology also requires high-performance adhesive tapes, such as double-sided tape and silicone rubber tape, for holding power in various applications. Additionally, polyurethanes, liquid adhesive residues, and foam tapes are commonly used in automotive manufacturing for their bonding capabilities.

Market Research Overview

The automotive adhesive tapes market is a significant segment of the global automotive components and equipment industry, catering to the production of lightweight vehicles, including electric vehicles (EVs) and hybrid models. OEMs (Original Equipment Manufacturers) and aftermarket services utilize adhesive tapes for bonding various components made of aluminum, composite materials, and steel in vehicle manufacturing. The market's growth is driven by factors such as the rise in electric vehicle production due to climate change concerns and energy security, the increasing demand for lightweight vehicles, and the integration of advanced technology in vehicles, leading to an increased use of electric car batteries and other electronic components. Technavio projects that the global automotive components and equipment market, which includes manufacturers of adhesive tapes, will experience substantial growth due to the increasing sales of PCs, CVs, and two-wheelers, as well as the growing popularity of EVs and motorcycles.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
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