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Eco Friendly Low VOC Automotive Wiring Harness Tape Market Size

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

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Eco Friendly Low VOC Automotive Wiring Harness Tape Market Size

The global eco friendly low VOC automotive wiring harness tape market size was valued at USD 470.5 million in 2023 and is anticipated to grow at a CAGR of 5.6% between 2024 and 2032. The rapid rise of electric vehicles (EVs) is boosting the need for wiring harnesses and components including low VOC tapes. The U.S. Electric Vehicle market is projected to grow from USD 49.1 million in 2022 to over USD 210 million by 2032, with an annual growth rate of more than 15%. EVs require more complex wiring systems than traditional internal combustion engine (ICE) vehicles.

eco friendly low VOC automotive wiring harness tape market

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As a result, EV manufacturers are focusing on sustainability, making eco-friendly solutions a top priority in their sourcing decisions. This trend is driving innovation in the market, with companies developing new materials and technologies to meet the demand for greener products.

Eco Friendly Low VOC Automotive Wiring Harness Tape Market Report Attributes
Report Attribute	Details
Base Year:	2023
Eco Friendly Low VOC Automotive Wiring Harness Tape Market Size in 2023:	USD 470.5 Million
Forecast Period:	2024 – 2032
Forecast Period 2024 – 2032 CAGR:	5.6%
2024 – 2032 Value Projection:	USD 746.7 Million
Historical Data for:	2021-2023
No. of Pages:	250
Tables, Charts & Figures:	400
Segments covered:	Material, Adhesive, Application, Vehicle, Sales Channel and End-User
Growth Drivers:	Presence of stringent environmental regulations Growing electric vehicle (EV) production and adoption across the globe Consumer preference for sustainability Technological advancements in material science
Pitfalls & Challenges:	Higher production costs for eco-friendly tapes Limited performance in extreme conditions

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Countries around the world are enforcing stricter rules to reduce volatile organic compounds (VOCs) in car manufacturing. This change is pushing carmakers to use eco-friendly materials for wiring harness tapes. For instance, in August 2024, Mexico's Ministry of Environment and Natural Resources introduced a draft standard to control VOC emissions in production and auxiliary services. This move highlights Mexico's effort to cut pollution and protect both human health and the environment. VOCs are harmful, contributing to air pollution and damaging the ozone layer. By using eco-friendly low VOC tapes, automakers can meet these regulations, lower emissions during production, and improve their vehicles' environmental impact.

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.