Automotive Adhesive Tapes Market is segmented by Application Type (Wire Harnessing, Power Train, Acoustic Insulation, Interior Attachment, Exterior Attachment, Electronics, and Chassis & Wheels), by Adhesive Chemistry Type (Solvent-based Adhesives, Emulsion-based Adhesives, Hot Melt Adhesives, and Radiation Adhesives), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Automotive Adhesive Tapes Market is segmented by Application Type...
The Automotive Adhesive Tapes Market is expected to grow from USD 3.27 billion in 2022 to USD 4.54 billion by 2028 at a CAGR of 5.52% during the forecast period.
Automotive adhesive tape is used to connect two distinct automobile parts or objects. It is made of material and adhesive film. It eliminates the need for welding, screws, and fasteners when assembling automotive components. Wire harnessing, device shielding, surface protection, and electrical insulation are all applications.
Market Dynamics
Automotive adhesive tapes, a sizeable market, experienced a significant decline due to such trends during the pandemic, which was closely aligned with the decline in the production of automobiles. But as consumer confidence rose in 2021, the industry is gradually making a comeback.
Furthermore, the market for tapes is anticipated to be driven by the quick replacement of nut and bolt fasteners to reduce vehicle weight and improve aesthetics over the forecast period. The installation of specialized components as a result of technological advancements and performance improvements in cars is expected to influence the automotive tapes market positively.
Covid-19 Impact
The automotive industry's output fell in 2018 and 2019, with a recovery expected to begin in 2020. However, the unexpected outbreak of the pandemic shattered the market confidence. As a result, there was a significant drop in automobile production across regions. This had a significant impact on the entire supply chain, right down to the component level.
Segments Analysis
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The market is segmented into the following categories-
By Application Type
Wire Harnessing
Power Train
Acoustic Insulation
Interior Attachment
Exterior Attachment
Electronics
Chassis & Wheels
By Adhesive ChemistryType
Solvent-based Adhesives
Emulsion-based Adhesives
Hot Melt Adhesives
Radiation Adhesives
By Region
North America
Europe
Asia-Pacific
Rest of the World
By Application Type
The automotive adhesive tapes market is segmented as wire harnessing, power train, acoustic insulation, interior attachment, exterior attachment, electronics, and chassis & wheels. Interior attachmentis expected to remain the biggest demand generator for automotive adhesive tapes in the market during the forecast period. This growth is attributed to the rising demand for high-end vehicles with improved interior design and improved driving dynamics, which is expected to lead to an increase in the number of interior fittings.
The high adhesive strength of the tape combined with the superior attachment of various materials is anticipated to fuel the demand for adhesive tapes in interior applications. The mounting of rubber and plastic profiles in the interior of the car, the attachment of foam and fabric to the instrument panel, the wrapping of the steering wheel, the airbag wrapping and securing, and the mounting of seat heating elements are among the various applications of adhesive tapes in the automotive interior.
By Adhesive Chemistry Type
The market is segmented as solvent-based adhesives, emulsion-based adhesives, hot melt adhesives, and radiation adhesives. Solvent-based chemistry is expected to remain the dominant chemistry type for automotive adhesive tapes during the forecast period. Increasing adoption of this chemistry by automotive OEMs coupled with its superior adhesion properties would drive the growth of the product in the market. High-performance solvent-based adhesives with superior bonding are typically used in these tapes. Solvent acrylic tapes are recognized for automotive applications that require longevity and durability. Moreover, the demand for adhesive technology in automotive tapes has been supported by improved performance such as better resistance to chemicals, heat, and water.
Regional Analysis
Europe is expected to remain the largest market for automotive adhesive tapes during the forecast period. Increased production of EV/HEV segment vehicles, which have higher adhesive tape penetration, and the high per-vehicle tape content in the European brand automotive drive the region’s dominance in the market.
There are many well-known players operating across the growing regional market. In the region, there are more than 300 manufacturing plants producing cars and trucks. These companies are making significant investments in R&D to advance the segments of hybrid and electric vehicles. Furthermore, it is anticipated that the penetration of tapes and adhesives will increase with the installation of lightweight components for lowering fuel consumption in automobiles.
The Asia-Pacific region is estimated to grow at the fastest rate in the market during the forecasted period. Initiatives taken by the governments of the region's emerging economies to attract major OEMs for EV production for the domestic market will drive market growth in the coming years.
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Key Players
The following are the key players in the automotive adhesive tapes market:
L&L Products, Inc.
Sika Automotive AG
The 3M Company
Specialty Pulp Manufacturing, Inc (SPMI)
Nitto Denko Corporation
Lida Industry Co, Ltd.
ThreeBond Co., Ltd.
PPG Industries
ABI Tape Products
Adchem Corporation
Research Methodology
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
What Deliverables Will You Get in this Report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth Analysis of the Automotive Adhesive Tapes Market
How lucrative is the future?
Market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and Forecast
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
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10% free customization
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With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
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Detailed profiling of additional market players (up to three players)
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Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
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L&L Products, Inc., Sika Automotive AG, The 3M Company, Nitto Denko Corporation, Lida Industry Co., Ltd., ThreeBond Co., Ltd., PPG Industries, ABI Tape Products, and Adchem Corporation, Ltd. are the leading players in the automotive adhesive tapes market.
Europe is estimated to remain dominant in the automotive adhesive tapes market in the foreseen future owing to the increased production of EV/HEV segment vehicles, which have higher adhesive tape penetration, and high per vehicle tape content in the European brand automotive.
Asia-Pacific is estimated to remain the fastest-growing market for automotive adhesive tapes in the foreseen future owing to the initiatives taken by the governments of the region's emerging economies to attract major OEMs for EV production for the domestic market.
Interior attachment is expected to remain the dominant application in the market during the forecast period. This growth is attributed to the rising demand for high-end vehicles with an improved interior design and improved driving dynamics, which is expected to lead to an increase in the number of interior fittings.
The quick replacement of nut and bolt fasteners to reduce vehicle weight and improve aesthetics over the forecast period is expected to drive the market growth in the coming years.
