The global automotive tapes market size is projected to reach $6.40 billion by 2026. The increasing applications of the product will fuel its demand across diverse industries. the market was worth USD 5.17 billion in 2018 and will exhibit a CAGR of 3.16% during the forecast period, 2019-2026.
The global Automotive Tapes Market report contains market revenue, market share, and production of the service providers is also mentioned with accurate data. Moreover, the global market report majorly focuses on the current developments, new possibilities, advancements, as well as dormant traps. Furthermore, the market report offers a complete analysis of the current situation and the advancement possibilities of the market across the globe.
Automotive tapes are widely used across the automotive industry. The increasing emphasis on the development of sustainable and durable tapes has derived huge investments from manufacturers across the world. This has caught the eye of companies from other industries, as well, and has encouraged them to deviate from their core strategies and invest in automotive tapes.
The increasing emphasis on product R&D has yielded a few exceptional products in recent years and has attracted attention from consumers across the world. Variations in product offerings have allowed widespread applications, subsequently aiding the growth of the market. The healthy market competition has encouraged competitors to adopt newer strategies. Altogether, these factors will have a positive impact on the growth of the market in the coming years.
List of the 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
- LINTEC Corporation
- Henkel AG
Browse Detailed Summary of This Research Report with Major TOC: https://www.fortunebusinessinsights.com/toc/automotive-tapes-market-102417
Increasing Number of Company Mergers Will Aid Market Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing company mergers and collaborations have made a massive impact on the growth of the market.
In August 2019, Bostik announced that it plans to acquire Prochimir. Through this acquisition, the company plans to expand its thermos-bonding solutions. Considering the massive global reach of both of these companies, the collaboration will have a huge impact, not just on their businesses, but also on the global market. The report includes a few of the major company collaborations of recent times and gauges their impact on the growth of the market.
Asia Pacific to Emerge Dominant; Increasing Disposable Income in Major Countries to Aid Growth
The report analyzes the ongoing automotive tapes market trends across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, the market in Asia Pacific currently holds the largest market share. The increasing disposable income in emerging countries such as India and China will emerge in favor of market growth.
Besides Asia Pacific, the market in North America will also witness considerable growth. As of 2018, the market in North America was worth USD 726.99 million and this value is projected to increase further in the coming years.