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.
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 2025||USD 12.37 billion|
|Growth Rate||CAGR of over 7.3% during 2015-2025|
|Segment Covered||Adhesives, Adhesives, Product, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Key Players Profiled||Sika Automotive AG, L&L Products Inc., Dow Automotive, 3M Company, Nitto Denko, PPG Industries, Avery Dennison Corporation and EMS-EFTEC AG.|
Key segments of the global automotive adhesive tapes market
Adhesives Overview, 2015-2025 (Million Square Meters, USD Million)
- Natural Rubber
Adhesives Overview, 2015-2025 (Million Square Meters, USD Million)
Product Overview, 2015-2025 (Million Square Meters, USD Million)
- Double-sided tapes
- Masking tapes
- Reinforced tapes
- Specialty tapes
Application Overview, 2015-2025 (Million Square Meters, USD Million)
Regional Overview, 2015-2025 (Million Square Meters, USD Million)
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Latin America
- Rest of Latin America
- Middle East & Africa
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global automotive adhesive tapes market
- While studying the market, we observed that masking tapes are gaining immense traction on account of its excellent adhesion properties
- Asia Pacific is projected to be the fastest growing region owing to rapid growth of automobile sector in this region
- The global automotive adhesive tapes market is projected to witness lucrative opportunity in developing regions of Latin America and Middle East & Africa due to increasing sales of lightweight vehicles in this region
What does the report include?
- The study on the global automotive adhesive tapes market includes qualitative factors such as drivers, trends, and opportunities
- Additionally, the market has been evaluated using the Value Chain, Porter’s Five Forces’ analysis and PESTEL analysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of type, application and region. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players in the market with a significant global and/or regional presence
Who should buy this report?
This study is suitable for industry participants and stakeholders in the automotive adhesive tapes market, who want an in-depth insight into the advancements of the automotive adhesive tapes market. The report will benefit:
- Executives of various end-use companies that are engaged in the automotive adhesive tapes products
- Managers within financial institutions looking to publish recent and forecasted statistics pertaining to automotive adhesive tapes market
- Venture capitalists and investors looking for more information on the future outlook of the global automotive adhesive tapes Market
- Government organizations, regulatory authorities, policymakers and financial organizations looking for innovations in automotive adhesive tapes
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies