Avery Dennison Yongle Adds Value to China’s Automotive Developments

The automotive markets in China and worldwide reached a peak in 2018, but entered an adjustment period in 2019 due to a global pandemic and a general industrial transformation.

A turnaround then occurred in 2020 when the commercial vehicle market experienced rapid growth. Driven by a recovery in the passenger vehicle market and an increase in new energy vehicles, China has now taken the lead in all major automotive markets. Industry experts generally predict that the China automotive market will fully recover in 2022. Exact timing will be affected by the progress achieved with the pandemic and the supply of chips.

Avery Dennison Yongle Adds Value to China’s Automotive Developments

Currently, many countries are formulating automotive industry goals and roadmaps for sustainable development, and have defined clear regulations on greenhouse gas emissions.

China, for example, has developed a specific timeline for emission peak and carbon neutrality, which is currently the industry’s biggest external variable.

The impact on the automotive industry is as follows:

First, the pattern of electrification is accelerating, and the penetration rate of new energy vehicles is expected to increase from single-digit percentages in 2020 to double-digits in 2030.

Second, the automotive industry’s new trends of ACES (Autonomous, Connected, Electrified and Shared Mobility) are constantly stimulating innovation and development. The emergence of new energy vehicles and autonomous driving technologies continues to increase.

Further, product technology research and development are accelerating iterations, electrification and intelligence. They are also driving the expansion of core technologies and research and development in ways that facilitate collaboration between software and hardware.

Finally, the industry’s service environment is rapidly transforming due to new technologies that are turning automobiles into smart mobile terminals. To keep pace, the automotive industry will need to rethink the ways in which it has traditionally serviced its customers.

Avery Dennison Yongle Tape has adapted its product development strategies in step with industry trends. The company’s 2025/2030 Sustainability Goals were developed based on careful analysis of what is most important for our business and stakeholders, covering the areas where we can, and should, make the greatest difference.

As a reliable functional material supplier to the automotive industry, Yongle Tape improves product quality, and promotes energy conservation and carbon reduction through lean production and technological upgrades. We deliver innovations that advance the circular economy and reduce our environmental impact through our Operations and Supply Chain processes. Ultimately, we make a positive social impact and enhance the livelihood of our people and communities.