The global structural adhesive tapes market is anticipated to grow at a CAGR of 3.9% during the forecast period (2024-2031). The growing application of structural adhesive tapes in end-user verticals especially in the automotive sector is the major factor driving the growth of structural adhesives market. These tapes are considered a key component in the automotive industry as they are used to provide superior bonding/joining to different substrates used in lightweight vehicles. In addition, these tapes are also used in EV battery manufacturing to increase safety and reduce battery weight. These tapes also make EV battery production processes simpler, cleaner, and more reliable. These adhesive tapes cure at a much lower temperature, allowing for the elimination of the equipment and process steps required for brazing. It is expected that with the surge ind emand for EVs in emerging economies, the need for structural adhesive tapes is projected to increase during the forecast period, which will significantly drive the market growth.
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Furthermore, the major steps taken by the emerging economies to eliminate the use of combustion engine vehicles and to replace it with an EV will accelerate the production of EVs during the forecast period. For instance, Norway is planning to phase out conventional cars by 2025, followed by France and UK in 2040 and 2050, respectively. Moreover, in October 2017, Germany’s Bundesrat passed a resolution to ban IC engine-based vehicles by 2030. In addition, Germany is targeting a combined BEV and FCEV stock of 7-10 million cars by 2030. Thus, these initiatives will increase the production of electric vehicle globally, that will further boost the production of structural adhesive tapes.
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Market Coverage
- Segment Covered-
o By Resin Type
o By Material Type
o By End-User Industry
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- 3M Co., Ashland Inc., Avery Dennison Corp, Henkel AG & Co., Lintec Corp,
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Structural Adhesive Tapes Market Report Segment
By Resin Type
- Silicone
- Acrylic
- Rubber
- Others
By Material Type
- Paper
- Polyvinyl Chloride
- Polypropylene
- Others
By End-User Industry
- Building & Construction
- Automotive
- Healthcare
- Electrical & Electronics
- Others (Renewable Energy, Aviation & Aerospace)
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