Argentina Automotive Tapes Market Outlook

the automotive sector in argentina has traditionally been a strategic sector of the national economy, and it is highly interconnected with the metal and plastic products sector, being one of the main foreign exchange earning activities. the industry plays a fundamental role in development, employment, innovation, and technological progress. the automotive tapes market in argentina is estimated to reach usd 190 million in 2018, driven by increasing demand for vehicle repairs and the rising demand for adhesive tapes in the automotive industry. the demand is mainly driven by the growing production of vehicles and rising demand for parts and components. the demand for adhesive tapes is increasing due to its wide range of properties, such as durability, resistance to solvent chemicals, and flexibility. automotive tapesare used in many applications, such as sealing, insulation, and fixing on both the interior and exterior parts of the vehicle. the main types of automotive tapes available in argentina are pu foam, double sided tapes, masking tapes, die-cut foam and label tapes. companies are continuously introducing new and improved automotive tapes with better adhesion, high strength, and excellent temperature resistance for varied applications in the automotive industry. these factors are expected to support the growth of the automotive tapes market in argentina during the forecast period. the demand for automotive tapes is also affected by the rising number of vehicle production and aftermarket repairs. automotive tapes are used in aftermarket repairs, and due to increasing car repair services and workshops, this segment is expected to grow during the forecast period. moreover, to keep up with global trends, manufacturers are focusing on introducing new products and technologies in the automotive sector, which is likely to increase the demand for automotive tapes in the near future. the automotive tapes market in argentina is estimated to grow at a cagr of 6% during the forecast period. the steady rise in automotive production, increasing demand for vehicle parts, and the focus on optimizing automotive processes with adhesives, are expected to drive the growth of the automotive tapes market in the coming years. in addition, the emergence of new technologies such as self-healing coatings and nanomaterials is estimated to drive the market in the forecast period.