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Automotive Adhesive Tapes Market - Forecast(2023 - 2028)
Automotive Adhesive Tapes Market Overview
The Automotive
Adhesive Tapes Market size is forecasted to reach US$11.5 billion by 2027,
after growing at a CAGR of 6.2% during the forecast period 2022-2027. Adhesive
tapes are extensively used in the automotive industry as they provide high-performance bonding solution for several applications such as interior
fittings, badges or carpet, wire harnessing and power train including many
others. Adhesive tapes are the efficient and cost-effective solution for
several traditional methods such as bolting, clips, screws and mechanical
fastening. The material used in the manufacturing of these tapes include acrylic,
polyurethane and silicone including others. The major backing materials
utilized are ethylene-vinyl acetate,
polyvinylchloride (PVC) and polypropylene.
These tapes offer corrosion prevention in automotive systems that can cause
damage to the car body. Adhesive tapes offer benefits such as reduced weight,
noise elimination, reduced maintenance and streamlined assembly.
Many industries
across the globe have faced several challenges due to the COVID-19 pandemic.
The automotive industry has experienced pitfalls due to the unavailability of
raw materials. The production and demand in this industry has declined due to
an interrupted supply chain and cessation in transportation. For instance, according to International Organization of
Motor Vehicle Manufacturer, in 2020, passenger vehicle production was 19.9
million units in comparison to 21.3 million produced in 2019, showing 6.5%
decrease. The pause in industrial
production and distribution, the demand and consumption of Automotive Adhesive Tapes has hampered to an extent.
Report Coverage
The “Automotive Adhesive Tapes Market Report –
Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the
following segments in the Automotive Adhesive Tapes industry.
By Material: Acrylic,
Rubber, Silicone, Polyurethane and Others
By Type: Specialty,
Double-Sided, Masking and Others
By Function: Bonding,
Sealing and Others
By Application: Wire
Harnessing, Surface Protection, Cable Mounting, Interior Mounting, Mirror
Assembling, Masking, Door and window seals, Automotive Electronics and Others
By Vehicle Type: ICE
Vehicle (Passenger Vehicles and Commercial Vehicles) and Electric and Hybrid
Vehicles (Passenger Vehicles and Commercial Vehicles)
By Electric Vehicle Type: Battery
Electric Vehicles (BEVs), Plug-in Hybrid Electric Vehicle (PHEVs), Hybrid
Electric Vehicles (HEVs) and Fuel Cell Electric Vehicles (FCEVs))
By Geography: North
America (USA, Canada and Mexico), Europe (UK, Germany, France, Italy,
Netherlands, Spain, Russia, Belgium and Rest of Europe), Asia-Pacific (China,
Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan,
Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile
and Rest of South America), Rest of the World (Middle East (Saudi Arabia, UAE,
Israel and Rest of Middle East) and Africa (South Africa, Nigeria and Rest of
Africa))
Key Takeaways
- The notable growth in automotive industry specifically electric vehicles is driving the growth of Automotive Adhesive Tapes Market.
- Double-sided tape plays an important role in several applications such car door sill trim, wire harnessing, cable mounting, wing flare, headlight washer and roof rail which is expected to provide significant growth opportunity to increase Automotive Adhesive Tapes Market size in coming years.
- Increase in production and demand for electric vehicles is expected to provide substantial growth opportunities for the industry players in near future in Automotive Adhesive Tapes Industry.
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The Acrylic segment is expected to grow at a
fastest CAGR of 9.0% during the forecast period in the Automotive Adhesive
Tapes Market. Adhesive tapes are widely used in the automotive
industry for acoustic applications such as absorption pads in doors, trunk
absorption pads, headline absorbers and window trim. It also provides surface
protection and gasket sealing. Acrylic is one of the most commonly used
material in adhesive tapes as it has better flexibility and ductility. The
backing material used in this adhesive tape are ethylene-vinyl acetate, polyvinylchloride (PVC) and polypropylene. Automotive industry continuously works on
changing consumer preferences and thus there is increasing demand for high-performance bonding
materials. Acrylic adhesive tapes are extensively used for exterior components
such as bodyside moldings, wheels flares and pillar appliques. Acrylics tapes
also withstand extreme low temperatures and utilized in automotive OEM’s and
exterior attachment part mounting. Thus, several benefits associated with the use of acrylic tapes is
boosting the growth and is expected to account for significant Automotive Adhesive Tapes Market share.
Automotive Adhesive Tapes Market Segment Analysis – By Type
The Double-sided
segment held the largest Automotive Adhesive Tapes Market share in 2021, with a
share of over 37%. Double-sided automotive adhesive is available in a range of materials such as acrylic,
silicone and rubber. Double sided tapes also utilize numerous backing materials
such as ethylene-vinyl acetate, polyvinylchloride
(PVC) and polypropylene. These tapes
are relatively easy to adhere owing to resistance to moisture, solvent, oil and
other chemicals. It also holds superior mechanical characteristics. They offer
superior viscoelastic and adhesion properties towards automotive paint systems
and plastics. These are commonly used for bonding, technical and general-purpose
splicing, masking and protection. These tapes withstand all external influences
for the lifetime of vehicle and provide vibration damping and reliable seating.
These are used in a wide range of applications such as aeroflap, car door sill
trim, wing flare, headlight washer, roof rail and window frame including many
others. Thus,
the increase in demand double sided tapes is boosting the market growth of
Automotive
Adhesive Tapes Market Segment Analysis – By Geography
Asia Pacific held the largest Automotive Adhesive Tapes Market share in 2021, with a share of 57%. This growth is mainly attributed to the increase in the production of ICE vehicle and electric vehicle in this region. The region consists of major economies such as China, India, Japan and Australia where the level of Automotive output has rapidly increased. For instance, as per the 2021 report of the European Automobile Manufacturers Association on global vehicle production, China produced 32% of 74 million cars manufactured worldwide with Japan & Korea producing 16%. For instance, according to International Organization of Motor Vehicle Manufacturer, in 2021, Asia held 50% share of global motor vehicle production with China producing 26 million units and India 4.4 million units. The significant growth in automotive in this region also demands for automotive adhesive tapes.
Automotive Adhesive Tapes Market Drivers
Surge in production of Automobile
During the past few years,
automotive industry is growing at a substantial rate owing to the increased demand
for automobiles. With the increase in demand and production, there is also
surge in need for lightweight materials in order to increase fuel efficiency of
the automobiles. Adhesive tapes are extensively used in automotive industry as
it facilitates increased rigidity, reduced maintenance, reduced vehicle weight
and improve longevity. These are utilized for several purposes such as
anti-chipping, anti-vibration, cushioning, temporary protection and paint
replacement. According
to International Organization of Motor Vehicle Manufacturer, in 2021, global
production volume of passenger vehicles was 57 million units showing 2% increase
compared to 55.9 million units made in 2020. Also, as per the November
2021 report of the Europe Automobile Manufacturer Association, the new
passenger car registration in the first ten months of 2021 increased up to 2.2%
with an increase shown in European Union markets like Italy showed 12.7%, Spain
showed 5.6% and France showed 3.1%. Thus, increase in automotive production is
further propelling the demand for Automotive Adhesive Tapes Market.
Growing demand for E-vehicles
The factors such
as climate change and government regulations related to net-zero emission has
led to increase in demand for electric vehicles in major regions like
Asia-Pacific, Europe and North America. As per Tesa Tapes Pvt Ltd, by 2030,
there would me more car with electric drives than with combustion engines.
Adhesive tapes hold the potential in transforming e-mobility industry. These
tapes offer permanent bonding of battery cells and electronics components. The
companies are also involved in the production of fire-resistant adhesive tapes
for battery cells. The range of backing materials used in the production of
such tapes are ethylene-vinyl acetate,
polyvinylchloride (PVC) and polypropylene.
According
to European Environment Agency, in 2020, electric car registrations in Europe for the
year was 1,325,000 units compared to 550,000 units in 2019. For instance, according to International Energy Agency, in 2020,
electric car sales reached a record 3 million units in 2020, up 40% from
2019. Thus, the global surge in demand and
production of electric vehicles in propelling the growth and is expected to
accounted for significant share in Automotive Adhesive Tapes Market size.
Automotive Adhesive Tapes Market Challenges
Availability of substitutes
Automotive Adhesive Tapes provide several benefits such as moisture
resistance, weight reduction, superior sealing and bonding. These are majorly
getting adopted in e-vehicles. However, there are few disadvantages associated
with the use of adhesives tapes such as it requires extensive surface
preparation, need for flat surfaces, they are temperature sensitive and these
tapes never sets with time. There is a wide variety of substitutes available for
adhesive tapes such as liquids, sprays, films and foams. Thus, the availability
of substitutes may hamper market growth.
Automotive Adhesive Tapes Industry Outlook
The top 10 companies in the Automotive Adhesive Tapes Market are -
- 3M
- Saint-Gobain
- Tesa SE
- Nitto Denko Corporation
- Avery Dennison Corporation
- Lintec Corp.
- Inno Tape GmbH
- Sika AG
- Henkel AG & Co. KGaA
- Lohmann
Recent Development
In December 2021, Saint-Gobain launched
its new tape solutions global website for all brands such as CHR, Norseal,
Norbond, h-old and Biolink. It provides visitors with seamless user experience
and brand information.
Relevant Reports
Report Code: CMR 48939
Report Code: CMR 54603
Report Code: CMR 67413
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