The global automotive adhesive tapes market size was valued at USD 3.19 Billion in 2022 and is expected to surpass USD 5.48 Billion by 2031 , expanding at a CAGR of 6.2% during the forecast period, 2023–2031. The growth of the market is attributed to the wide use of adhesive tapes by automotive original equipment manufacturers (OEMs) in manufacturing several vehicle parts and the rising demand for lightweight vehicles.
Automotive adhesive tapes are specially formulated bonding products basically designed for use in manufacturing various vehicles’ interior and exterior parts. In general, these tapes offer a wide range of superior physical properties such as high resistance to extreme weather or temperatures to make vehicles durable to use and enhance drivers’ convenience in handling the vehicles.
Many of these adhesive tapes have thermal and water-resistant properties to avoid any unwanted incidences during vehicle operation. With the rapid integration of several accessories, especially electronic items in vehicles; the penetration of high-performing tapes is increasing significantly in the automotive industry.
Tapes are widely used to insulate various electronic equipment such as AC systems, interior and exterior lights, music dashboards, and battery connectors. The wide use of plastics and composite materials in vehicles to offer light-weighted components requires the massive use of adhesive tapes, which in a way, helps to reduce fuel consumption by vehicles.
The COVID-19 crisis had adversely affected the global automotive adhesive tapes market due to sudden disruption in the supply chain and prolonged halt of the manufacturing units, which negatively impacted the entire automotive industry. Movement restrictions and travel bans, imposed by governments’ lockdown policies, had posed a major threat to the industry as the production got delayed and sharp decline in the demand for vehicles.
However, the increasing competition in the electric vehicles (EVs) market and rising R&D programs for EVs from private investors with favorable government policies on the EVs development present a key aspect for the market expansion in the coming years.
Market Trends, Drivers, Restraints, and Opportunities
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Rising demand for high-performance adhesives for increasing safety and users’ convenience handling automotive are key factors fueling the market.
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Increasing demand for premium cars with user-friendly interior designs presents another key driver of the market.
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Rapid production of EVs and hybrid electric vehicles (HEVs) and wide adoption of adhesives tapes by automotive OEMs in EVs parts, especially electric vehicle battery manufacturing are expected to boost the market during the forecast period.
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Strict government regulations towards the use of eco-friendly adhesives such as low Volatile Organic Carbon (VOC) adhesive tapes to reduce environmental hazards are major restraining factors hampering the market.
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Frequent price change in adhesive tapes’ raw materials acts as another key challenge that can impede market growth in the coming years.
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Massive R&D programs for developing environment-friendly adhesives or natural-based adhesives offer several growth opportunities for the market.
Scope of the Report
The report on the global automotive adhesive tapes market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Automotive Adhesive Tapes Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Adhesive Types (Radiation, Hot Melt, Solvent-based, Emulsion-based, and Others), Applications (Interior Attachment, Exterior Attachment, Wire Harnessing, Electronics, Powertrain, Chassis & Wheels, and Acoustic Insulation), and Material Types (Polyvinyl Chloride, Polyester, Paper, Polypropylene, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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3M Company; Sika Automotive AG; Nitto Denko Corporation; ABI Tape Products; L&L Products, Inc.; Saint-Gobain; PPG Industries; Lida Industry Co, Ltd.; tesa SE; ThreeBond Holdings Co., Ltd.; Berry Plastics; Adchem Corp.; Lintec Corporation; and Avery Dennison Corporation
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Market Segment Insights
Solvent-based segment to register a high CAGR
Based on adhesive types, the global automotive adhesive tapes market is divided into radiation, hot melt, solvent-based, emulsion-based, and others. The solvent-based segment held a dominant share, accounting for more than 42% of the global market revenue in 2021, and is expected to register a high CAGR during the forecast period.
Solvent-based adhesives are widely used by automotive manufacturers owing to certain superior properties such as durability, strong bonding quality, and high thermal and water resistance. Rubber-based solvents and acrylic solvents are two key high-performance solvent-based adhesives that have high penetration in the automotive industry owing to excellent adhesive properties.
Interior attachment segment to hold a key share
In terms of applications, the market is segmented into interior attachment, exterior attachment, wire harnessing, electronics, powertrain, chassis & wheels, and acoustic insulation. The interior attachment segment accounted for more than 27% share of the global market revenue in 2021 and is anticipated to hold a key market share in the coming years.
The segment growth is attributed to the wide adoption of superior adhesive tapes for interior designs of vehicles to enhance aesthetic values and ensure a safer interior environment. Adhesive tapes are extensively used in interior parts of a vehicle including securing belts, arm rests, airbag wrapping, instrument panels, door bolsters, seat heating areas, and steering wheel wrapping.
Wide use by automotive OEMs drives the polyvinyl chloride segment
On the basis of material types, the global automotive adhesive tapes market is segregated into polyvinyl chloride, polyester, paper, polypropylene, and others. The polyvinyl chloride (PVC) segment constituted a major market share in 2021 and is projected to register a steady growth rate during the forecast period owing to the extensive use of the material by automotive OEMs.
PVC is a high shock-absorbent that offers superior adhesive quality, long durability, and safer materials for vehicle users. The material is most commonly used for certain applications such as assembly and insulation of electronic items in vehicles such as dashboards and also in safety components such as airbags.
Asia Pacific to dominate the market
In terms of regions, the global automotive adhesive tapes market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Europe accounted for a major share, representing more than 25% of the total market revenue, and is expected to expand at a robust growth rate during the projected period.
The regional market growth is attributed to the high demand for European automotive brands worldwide, increasing EVs or HEVs production, and rising use of eco-friendly adhesive tapes among automotive manufacturers. On the other hand, Asia Pacific is a fast-growing region, and the market in the region is anticipated to dominate the market in the coming years owing to rising spending on premium cars as well as the rapid expansion of commercial vehicles.
The rapid expansion of automotive manufacturing facilities and production units in the region, impacted by the wide availability of a large pool of labor at a cheap rate, as well as increasing spending on R&D programs for EVs are key drivers of the regional market.
Segments
The global automotive adhesive tapes market has been segmented on the basis of
Adhesive Types
- Radiation
- Hot Melt
- Solvent-based
- Emulsion-based
- Others
Applications
- Interior Attachment
- Exterior Attachment
- Wire Harnessing
- Electronics
- Powertrain
- Chassis & Wheels
- Acoustic Insulation
Material Types
- Polyvinyl Chloride
- Polyester
- Paper
- Polypropylene
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- 3M Company
- Nitto Denko Corporation
- ABI Tape Products
- Sika Automotive AG
- L&L Products, Inc.
- Saint-Gobain
- PPG Industries
- Lida Industry Co, Ltd.
- tesa SE
- ThreeBond Holdings Co., Ltd.
- Berry Plastics
- Adchem Corp.
- Lintec Corporation
- Avery Dennison Corporation
Competitive Landscape
Key players competing in the global automotive adhesive tapes market are 3M Company; Sika Automotive AG; Nitto Denko Corporation; ABI Tape Products; L&L Products, Inc.; Saint-Gobain; PPG Industries; Lida Industry Co, Ltd.; tesa SE; ThreeBond Holdings Co., Ltd.; Berry Plastics; Adchem Corp.; Lintec Corporation; and Avery Dennison Corporation.
Some of these players have adopted a series of business development strategies including merger and acquisition, partnerships and collaboration, product launches, and production capacity expansion to expand their consumer base and enhance their market share.
For instance,
- On December 14, 2020, 3M Company unveiled a new silicone adhesive, 2480 3M Hi-Tack silicone adhesive tapes. The tape was meant to use for wearable medical devices while offering high performance, durability, and strong adhesion to the devices.
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