The global structural adhesive
tape market is segmented into bonding structure type such as single sided
bonding and double sided bonding. Among these segments, double sided bonded structural
adhesive tape segment is expected to occupy top position in overall structural
adhesive tape market during the forecast period. Advantages and benefits of double
sided structural adhesive tape such as high strength and long-term durability are
anticipated to trigger the growth of this segment. Moreover, increasing
utilization of structural adhesive tape as an alternative to structural
silicone and spacer tapes is anticipated to fuel the growth of the global structural
adhesive tape market.
Global structural adhesive tape
market is expected to flourish at a significant CAGR of 7.2% during the
forecast period. Moreover, the global structural adhesive tape market is
expected to garner USD 15.3 Billion by the end of 2024. Increasing demand for
low weight automobiles is expected to strengthen the growth of structural
adhesive tape market during the forecast period. Further,
stringent government regulations to increase the fuel efficiency are
anticipated to increase the adoption of structural adhesive tape in automotive
industry.
Asia Pacific accounted for the
highest market share of overall structural adhesive tape market and is expected
to continue its dominance over the forecast period. Strong growth in the
automotive sector and presence of large shipbuilding companies in the region
are expected to accelerate the growth of the structural adhesive tape market in
the region. North America is projected to witness significant growth during the
forecast period. Development and expansion of the aviation industry in the
region is expected to strengthen the growth of structural adhesive tape market
in North America.
Rising
Adoption in Various End Use Industries
Increasing adoption of
structural adhesive tape over other alternatives in various end use industries
such as automotive, construction and aerospace industry is predicted to
significantly impact the growth of the market. Further, augmented demand for
high fuel efficient vehicles is anticipated to impetus structural adhesive tape
market over the forecast period.
Product
Innovation
Continuous development of
advanced adhesive tapes and increasing expenditure on research &
development are poised to fuel the growth of the structural adhesive tape
market. Further, increasing demand for customized tapes for specific end use industries
is expected to trigger the growth of the global structural adhesive tape
market.
Although, volatility in the
price of raw material and uncertainties about the supply of raw material are
some factors which might dampen the growth of structural adhesive tape market
during the forecast period.
The report titled “Structural Adhesive Tape Market: Global
Demand Analysis & Opportunity Outlook 2024”
delivers
detailed overview of the global structural adhesive tape market in terms of
market segmentation by product, by bonding structure type, by application, by end
user and by region.
Further, for the in-depth analysis,
the report encompasses the industry growth drivers, restraints, supply and
demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the
existing competitive scenario of some of the key players of the global structural
adhesive tape market which includes company profiling of Henkel AG, 3M Company,
Ashland Inc., Dow Chemical Company, Sika AG, Scott Bader Co., Arkema, Lord
Corporation, Hubei Huitian Adhesive Enterprise Co., and ITW Engineered Polymers.
The profiling enfolds key information of the companies which encompasses
business overview, products and services, key financials and recent news and
developments. On the whole, the report depicts detailed overview of the global structural
adhesive tape market that will help industry consultants, equipment
manufacturers, existing players searching for expansion opportunities, new
players searching possibilities and other stakeholders to align their market
centric strategies according to the ongoing and expected trends in the future.
About Research
Nester
Research Nester is a leading service provider for
strategic market research and consulting. We aim to provide unbiased,
unparalleled market insights and industry analysis to help industries,
conglomerates and executives to take wise decisions for their future marketing
strategy, expansion and investment etc. We believe every business can expand to
its new horizon, provided a right guidance at a right time is available through
strategic minds. Our out of box thinking helps our clients to take wise
decision so as to avoid future uncertainties.
Read more Information: https://www.researchnester.com/reports/structural-adhesive-tape-market-global-demand-analysis-opportunity-outlook-2024/410
Contact for more
Info:
Ajay
Daniel
U.S.
+1 646 586 9123
U.K.
+44 203 608 5919
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