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Eco Friendly Low VOC Automotive Wiring Harness Tape Market Share

Report ID: GMI11697
Published Date: Oct 2024
Report Format: PDF

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Eco Friendly Low VOC Automotive Wiring Harness Tape Market Share

Nitto Denko Corporation and Sika AG dominate the market with around 10% of the market share. Nitto Denko Corporation invests heavily in research and development to create eco-friendly low VOC tapes. By focusing on advanced materials science, the company aims to improve the durability, heat resistance, and adhesive strength of its products. This strategy meets the automotive industry's current needs and positions Nitto Denko as a major player in sustainable tape solutions.

Sika AG is expanding its presence in key automotive markets such as Asia Pacific, North America, and Europe. The company invests in local manufacturing and distribution to respond quickly and adapt to regional market demands. This approach helps Sika meet the growing demand for eco-friendly materials in emerging markets and maintain strong relationships with local automotive manufacturers.

Eco Friendly Low VOC Automotive Wiring Harness Tape Market Companies

Major players operating in the eco-friendly low VOC automotive wiring harness tape industry include:

3M Company
Avery Dennison Corporation
Berry Global Group
Dow Inc.
Henkel AG & Co. KGaA
Intertape Polymer Group (IPG)
Lintec Corporation
Nitto Denko Corporation
Scapa Group Plc
Sika AG

Authors: Preeti Wadhwani, Aishwarya Ambekar

Frequently Asked Questions (FAQ) :

The market size for eco-friendly, low VOC automotive wiring harness tape reached USD 470.5 million in 2023 and is anticipated to grow at a CAGR of 5.6% from 2024 to 2032.

Passenger cars held a market share of over 60% in 2023 and are expected to surpass USD 400 million by 2032. The increasing complexity of wiring systems in passenger cars, driven by the adoption of Advanced Driver Assistance Systems (ADAS), fuels this demand.

The engine compartment segment is expected to hold around 27% share in 2023. The need for wiring harness tapes that can withstand high temperatures and harsh conditions while being eco-friendly drives demand for low VOC options in this segment.

Asia Pacific dominates the market with over 45% share in 2023. Rapid urbanization and rising car ownership in India and Southeast Asia, along with China's leading role in electric vehicle production, drive this dominance.