Automotive Adhesive Tapes Market Size, Demands, Growth and Top Key Players Analysis Report

0
430

The global automotive adhesive tapes market size was estimated at USD 3.62 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 6.1% from 2024 to 2030. Rapid replacement of nut bolt fasteners to reduce vehicle weight and improve aesthetics is expected to drive the tapes market over the forecast period. The market is likely to witness a growing demand from aftermarket sales as vehicle modifications and performance enhancements are considerably upscaling. Asian economies including Japan, South Korea, China, and India are anticipated to hold the majority of the electric vehicle production shares in the upcoming period. This is supported by a robust manufacturing industry, resource availability, skilled & low labor cost, and the presence of prominent automakers in the region. Technological developments by major automobile manufacturers in Europe and North America are expected to provide momentum to the market.

The market for automotive adhesive tapes is anticipated to grow at a strong growth rate predicted over the projection period, owing to the economic recovery in most emerging countries. The frequent suspension of public transportation, along with the virus's highly infectious nature, fueled demand for passenger automobiles, driving the demand for automotive adhesive tape products. However, unexpected circumstances resulting from the pandemic's third and subsequent waves are reflecting a gloomy picture.

Gather more insights about the market drivers, restrains and growth of the Global automotive adhesive tapes market

Automotive Adhesive Tapes Market Segments Highlights:

  • The interior attachment application segment led the market and accounted for about 28.1% share of the global revenue in 2023. This is attributed to the Increasing demand for premium cars with an aesthetically improved environment and enhanced drive performance which in turn is expected to increase the number of components to be fastened in the car interiors.
  • The electronics application segment is also expected to witness a notable CAGR of 8.4% over the forecast period, due to the rising demand for tapes in automotive electronics such as light assemblies, air conditioning systems, electronic components, interior & exterior lights, battery connectors & wires, sensors, and several other electronic devices.
  • The solvent application segment led the market and accounted for about 44.0% share of the global revenue in 2023. Superior adhesion properties by solvent materials and wide adoption by the automotive OEMs supported product penetration in automotive applications.
  • Emulsion based adhesive tapes segment is also expected to witness the fastest growth at a CAGR of 8.3% on account of superior properties offered by the tapes such as chemical & heat resistance, and performance profile at low cost.
  • the demand for polyvinylchloride as a backing material in automotive adhesive tapes is expected to grow at a fastest rate over the forecast period. Automotive adhesive tapes which use polyvinylchloride as a backing material are highly opted for several applications such as electronic components and insulation.
  • Europe dominated the market and accounted for about 28% share of revenue share in 2023 and is expected to accelerate at a CAGR of over 5.0% over the forecast period. This trend is attributed to the high per-vehicle tape content in European brand automotive coupled with rising production of EV/HEV segment vehicles which exhibits a higher penetration of adhesive tapes.
  • The North America automotive adhesive tapes market is expected to witness a notable CAGR of 4.2% from 2023 to 2030, owing to the presence of a robust manufacturing base in the U.S. coupled with the rapid growth of the automotive industry in Mexico is likely to augment the demand shortly.

Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.

  • Automotive Exterior Materials Market: The global automotive exterior materials market size was valued at USD 14.19 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 6.4% from 2024 to 2030.
  • Cable Management System Market: The global cable management system market size was valued at USD 23.5 billion in 2024 and is projected to grow at a CAGR of 8.2% from 2025 to 2030.

Automotive Adhesive Tapes Market Segmentation

Grand View Research has segmented the automotive adhesive tapes market on the basis of on application, adhesive chemistry, backing material, and region:

Automotive Adhesive Tapes Application Outlook (Volume, Million Square Meters, Revenue, USD Billion; 2018 - 2030)

  • Wire Harnessing
  • Powertrain
  • Acoustic Insulation
  • Interior Attachment
  • Exterior Attachment
  • Electronics
  • Chassis & Wheels

Automotive Adhesive Tapes Adhesive Chemistry Outlook (Volume, Million Square Meters, Revenue, USD Billion; 2018 - 2030)

  • Solvent-based Adhesives
  • Emulsion-based Adhesives
  • Hot Melt Adhesives
  • Radiation Adhesives

Automotive Adhesive Tapes Backing Material Outlook (Volume, Million Square Meters, Revenue, USD Billion; 2018 - 2030)

  • Polypropylene
  • Polyvinylchloride
  • Paper
  • Others

Automotive Adhesive Tapes Regional Outlook (Volume, Million Square Meters, Revenue, USD Billion; 2018 - 2030)

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa

Order a free sample PDF of the Automotive Adhesive Tapes Market Intelligence Study, published by Grand View Research.

Search
Categories
Read More
Games
The Spoils of War Reborn - Diablo IV Season 4
Diablo 4 gold highly anticipated Season 4, titled "Spoils of War Respawn," is set to introduce a...
By ThuVan ThuSuong 2024-06-13 01:51:13 0 1K
Games
Fertilizer Procurement Intelligence Is Expected to Exhibit CAGR Of 3.4% During 2023-2030
Fertilizer Category Overview The fertilizer category is expected to grow at a CAGR of 3.4% from...
By Steve Rey 2024-07-12 05:29:30 0 1K
Sports
Notre Dame’s Sam Hartman Bounces Back in Win Over Louisville
Notre Dame’s Sam Hartman Bounces Back in Win Over Louisville Notre Dame quarterback Sam...
By ColbieYoung ColbieYoung 2024-09-06 03:24:25 0 714
Other
Fiber Reinforced Plastics Procurement Intelligence Will Hit Big Revenues In Future
Fiber Reinforced Plastics Procurement Intelligence   Fiber Reinforced Plastics Category...
By Nayara Global Industry Report 2024 2024-08-13 05:27:41 0 1K
Networking
Safari Tourism Market 2024 Supply-Demand, Production Cost and Share Analysis
Safari Tourism Industry Overview The global safari tourism market size was estimated at USD...
By Steve Rey 2024-08-08 06:18:04 0 1K