Kenneth Research recently added a report on ‘Automotive Adhesive Tapes Market’ which offers a complete evaluation of the market and its growth prospects along with new business opportunities in the industry. The report contains the market size and annual growth rate for a forecast period between 2022 and 2031.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Automotive Adhesive Tapes Market products.
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On the other hand, it is estimated that every second, around 300kgs of toxic chemicals are released into water, land and air by the industrial facilities. Further, the market is projected to grow on account of the growing trade in chemicals worldwide. The European Union recorded to be the largest exporter of chemical products around the globe in the year 2019. The region was also the second largest importer of chemical products after the United States in the same year. The exports of chemicals in Europe, according to the statistics by Eurostat, grew from USD 323.49 billion in 2010 to USD 504.83 billion in 2020. Moreover, the imports of chemicals in the region grew from USD 205.64 billion in 2010 to USD 285.91 billion in 2020.
Global Automotive Adhesive Tapes Market was valued at USD 7.5 billion in the year 2017. Global Automotive Adhesive Tapes Market is further estimated to grow at a CAGR of 5.7% from 2019 to reach USD 11.29 billion by the year 2025. In the Global Automotive Adhesive Tapes Market, by region, Asia Pacific region holds the highest Market share in 2017 and Europe is also the strong Market considered as the fastest growing Market in the forecasted period owing to their Market demands. At a country level, China and India in Asia-Pacific are projected to grow strongly in the coming years.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Major market players in Automotive Adhesive Tape Market are Henkel AG & Co. KGaA, Adchem Corp., 3M Company, The Dow Chemical Company, Intertape Polymer Group, L & L Products Inc., Nitto Denko, Scapa Group Plc, Sika Automotive AG, Lohmann GmbH & Co. Kg., and brief overview of 10 companies is also provided in the report.
SWOT analysis of Automotive Adhesive Tapes Market:
Strength:
Growing demand for acrylic Automotive Adhesive Tape in APAC Region
Speedy Growth in the Automotive Sector
Weakness:
Changing government regulations and norms.
Rising Environmental Concerns
Opportunities:
Innovations in Automotive Adhesive Tapes
Threats:
Stringent Regulatory approval procedures
In the Global Automotive Adhesive Tape Market, the segmentation is done on the basis of material type, adhesive type and by region. On the basis of material types, the polyvinyl chloride segment dominates the Market, due to its water resistance and strong adhesion properties. Apart from this, the Market is also segmented on the basis of acrylic, natural rubber, butyl, and others, of these, acrylic has the highest Market share.
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Automotive Adhesive Tapes Market Segmentation:
By Material Type
*Polyester
*Polypropylene
*Paper
*Polyvinyl Chloride
*Others (Foam, Cloth)
By Adhesive Type
*Acrylic
*Natural Rubber
*Butyl
*Others
By Region
*North America
o USA
o Canada
*Europe
o Germany
o U.K.
o France
o Italy
o Rest of Europe
*APAC
o China
o India
o Japan
o Rest of Asia-Pacific
*RoW
o Latin America
o Middle East & Africa
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