SAN FRANCISCO, August 9, 2016 /PRNewswire/ --
The global automotive adhesive tapes market is expected to reach USD11.54 billion by 2024, according to a new report by Grand View Research, Inc. Rising demand for adhesive tapes in an extensive range of applications including noise, vibration, masking, electrical insulation, wire harnessing, device insulation, surface protection, labeling, auto body repairs, and automotive dash will fuel industry growth over the forecast period. Replacement of fasteners by automotive adhesive tapes coupled with the introduction of new environment-friendly products will propel the market growth.
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Polyvinyl chloride (PVC) was the largest segment and accounted for 31.4% of the overall volume in 2015 and is expected to witness significant rise on account of superior properties including excellent bonding, high adhesion, water resistant and good adhesion to metals. Increasing demand for lamination, insulation, protection and masking of automotive wires will propel industry expansion over the forecast period.
Double-sided tapes are expected to witness significant volume rise at a CAGR of 6.6% from 2016 to 2024 as on account of its durability, reliability, and sufficient bonding & fixing properties. Furthermore, increasing applications in automotive interior parts in light of better resistance and excellent tacky ability will promote industry expansion over the forecast period.
Browse full research report with TOC on "Automotive Adhesive Tapes Market Analysis By Adhesive Type (Acrylic, Natural Rubber, Butyl), By Backing Material (Polypropylene, Paper, PVC, Foam, Cloth), By Product (Masking Tapes, Double-Sided Tapes, Reinforced Tapes, Specialty Tapes), By Application (Interior, Exterior) And Segment Forecasts To 2024" at: http://www.grandviewresearch.com/industry-analysis/automotive-adhesive-tapes-market
Further key findings from the report suggest:
Grand View Research has segmented the global automotive adhesive tapes market on the basis of adhesive type, backing material, product, application, and region:
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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