Automotive and Electronics Industries Expected to Propel Adhesive Tapes Market through 2027
The automotive industry is projected to represent the fastest-growing segment of the global adhesive tapes market from 2019-2027.
The global market for adhesive tapes is projected to grow at a CAGR of more than 6.5% from 2019-2027, according to a report from Transparency Market Research, reaching a value of $111 billion by the end of the forecast period. The market’s growth is partly the result of the growing use of tapes in industries like automotive and electronics.
In terms of volume, the automotive segment accounted for the major share of the global adhesive tapes market in 2018. Automotive industry applications such as the placement of dashboards, insulating electric wires, and holding slots for connectors in the vehicles, are expected to make this the fastest-growing segment in the global adhesive tapes market from 2019-2027.