The global automotive adhesive tapes market size was USD 7.11 billion in 2017 and is expected to grow significantly over the next few years on account of its high shear strength, excellent adhesion and temperature resistance properties. Growing consumption of adhesive tapes for bonding interior and exterior components of an automotive such as brake shims and roof molding.
Global Automotive Adhesive Tapes Market, 2015-2025 (Million Square Meters) (USD Billion)
The expansion of the global automotive adhesive tapes market size lies on the back of strong vehicle sales, technological innovations and advancements in designing & manufacturing of automobiles, adoption of smart cars, and surging demand for sport-utility and crossover utility vehicles.
The Automotive Adhesive Tapes market is expected to grow at a CAGR of 5.9% to reach USD 12.1 billion in 2026.
Since the last few decades, the rise in the number of on-road vehicles has significantly increased carbon emissions globally. This has prompted governments of developing and developed nations to revamp various aspects of vehicle designs to adhere to environmental norms & laws and control carbon emissions from vehicles. Automobile manufacturers are therefore focusing their attention towards the use of lightweight materials, majorly in the manufacturing of external and internal parts of vehicles, since the reduced weight will improve fuel efficiency. This is a major factor driving the advancement of adhesives in the automotive industry and in turn supplement the growth of the global automotive adhesive tapes market size.
Global Automotive Adhesive Tapes Market by Backing Material, 2017 (%)
Foam is likely to have the highest potential for growth within the global automotive adhesive tapes market, growing with a 7.3% CAGR from 2018 to 2025. Foam as a backing material nestles smoothly into irregular surfaces and can bear heavy loads. Additionally, these tapes provide durable bonding strength to metals and plastics in the automotive industry. Rising inclusion of double-sided foam tapes for its gap-filling properties in cars and strong bonding of substrates is a key factor behind the increasing automotive adhesive tape market share.
By product, masking tapes accounted for approximately 40% of the global automotive adhesive tape market share by revenue. Known for their industrial uses across heavy engineering firms, masking tapes are gaining immense traction in the global automotive industry. Masking tapes have been developed to sustain extreme temperatures conditions and are thus being used in safety of automotive engines that often tend to overheat in a short span of time. Also, surging applications of masking tapes for painting and frame sealing applications, such as during dent repairs are expected to surge the demand for masking tapes in the adhesive tapes market.
In 2017, interior application segment dominated the automotive adhesive tapes market and is expected to continue its dominance throughout the forecast years. Tapes provide strong bonding and witness increased demand in cable mounting and interior applications. Adhesive tapes are also widely used in the bonding, sealing and damping of interior parts and accessories such as including roof liners, cable fixing, soundproofing, seats and instrument panels.
Geographically, North America accounted for approximately 24.3% of the automotive adhesive tape market share by volume in 2017 and is expected to witness significant gains on the back of robust manufacturing base, presence of tape manufacturers and rapid growth of the automotive sector in the U.S. Asia Pacific is expected to witness fast-paced growth, rising with a CAGR of 8.1% from 2018 to 2025. Wide population base, rising industrialization, particularly in developing economies of India and China, has encouraged the establishment of automotive manufacturing factories in this region. The growth of automobile production in this region is expected to set to augment the demand for adhesive tapes in the near future.
The global automotive adhesive tapes market is highly competitive and key manufacturers are constantly vying to obtain a greater market share only by investing in R&D and product innovations. Customers have become more inclined toward procuring lightweight and fuel-efficient vehicles on account of rising fuel prices. This has influenced vehicle manufacturers to invest in R&D activities to manufacture both exterior and interior parts of vehicles. For instance, in May 2015, Nitto Denko Corporation laid down a PVC tapes production facility in Taiwan, used for manufacturing automotive wire harness bundling. This strategy by Nitto will set its footprint in Taiwan and enhance its product sales in the near future.
Automotive Adhesive Tapes Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2026||USD 12.1 billion|
|Growth Rate||CAGR of 5.9% during 2021-2026|
|Segment Covered||by Type, By Function, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Tesa SE - A Beiersdorf Company, 3M Company, National Tape Corporation, Berry Global Inc., Avery Dennison Corporation, Scapa Group plc, ORAFOL Europe GmbH, Saint-Gobain Corporation, Maxell, Ltd., Henkel AG & Co., KGaA|
Key segments of the global Automotive Adhesive Tapes market
By Type 2018-2026 (USD Million)
By Function 2018-2026 (USD Million)
Regional Overview, 2018-2026 (USD Million)
• North America
o Rest of Europe
o Southeast Asia
o Rest of Asia-Pacific
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
• Central & South America
o Rest of South America