Automotive Tapes Market Size to Reach $6.40 Billion by 2026; Increasing Number of Company Mergers Will Aid Growth

The global automotive tapes market size is projected to reach USD 6.40 billion. The increasing applications of the product will fuel it demand across diverse industries. According to a report published by Fortune Business Insights, titled “Automotive Tapes Market Size, Share & Industry Analysis, By Type (Specialty, Double-sided, Masking, Others), By Function (Bonding, Masking, Noise, vibration, and harshness {NVH}, Others), By Application (Interior, Exterior, Wire Harnessing, Others) and Regional Forecast, 2019-2026” the market was worth USD 5.17 billion in 2018 and will exhibit a CAGR of 3.16% during the forecast period, 2019-2026.

Automotive tapes are adhesive solutions used for a wide range of applications in the automotive industry. The properties of automotive tapes such as lightweight and low cost have led to a wider product adoption across the world. The applications of automotive tapes such as hole coverings, mirror assembly, and wire harnessing will have a positive impact on the growth of the market in the coming years. The high demand for the product across diverse industries has attracted numerous start-ups as well as large scale companies, engaged in other domains. The presence of several large scale companies will create several growth opportunities for the growth of the market in the forthcoming years.

Bostik’s Acquisition of Prochimir Will Positively Influence Market Growth

The report identifies a few of the major industry developments of recent times and states their impact on the market. With a bid to establishing a stronghold in the market, several large scale companies are looking to acquire smaller and medium enterprises. In August 2019, Bostik announced that it has made plans to acquire Prochimir, with the aim of expanding its thermos-bonding solutions. Bostik’s latest acquisition will not only help the company grow, but will have a positive impact on the growth of the market in the coming years. Moreover, the increasing investments by major companies will emerge in favor of the growth of the market.

Demand for Lightweight Material Will Aid Growth

The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the growing demand for lightweight materials across diverse industry verticals has made the highest impact on market growth. The high demand for lightweight material will create a subsequent demand for automotive tapes. Besides this, the stringent emission regulations have compelled manufacturers to integrate lightweight body structures. Several other factors have contributed to the growth of the market and the same have been discusses in this report.

To get a detailed report summary and research scope of this market, click here: https://www.fortunebusinessinsights.com/automotive-tapes-market-102417

Leading Manufacturer ‘Saint-Gobain’ is Taking Huge Strides; Major Acquisitions and Product Launches Have Pivoted Company’s Growth

The presence of several large scale companies has made a huge impact on the growth of the market. Saint-Gobain, a leading global manufacturer, recently announced that it completed the acquisition of equity capital of Biolink. Accounting to the massive global consumer reach, this activity will have a direct impact on the growth of the market in the forthcoming years.

List of best companies that are operating in the global automotive tapes market are:

• Tesa SE


• 3M Company


• Arkema S.A.


• Nitto Denko Corporation


• Avery Dennison Corporation


• Sika AG


• Saint-Gobain


• LINTEC Corporation


• Scapa


• Henkel AG


• Others

Further Report Findings

The report analyzes the ongoing automotive tapes market trends across:

• North America
  
  
  
  • 2017: USD 741.43 million
  
  
  • 2018: USD 726.99 million
  
  
  
  


• Latin America


• Europe (Healthy growth)


• Asia Pacific (Largest market share)


• Middle East and Africa

The market is segmented on the basis of:

• Type


• Function


• Application

Industry Developments:

August 2019 - Toray Advanced Composites signed an agreement with BASF SE for manufacturing and supply of continuous fibre-reinforced thermoplastic (CFRT) tapes.

The global automotive tapes market is segmented on the basis of: