The global automotive adhesive tapes market size is expected to be worth around US$ 8.70 billion by 2030, according to a new report by Vision Research Reports.
The global automotive adhesive tapes market size was valued at US$ 5.69 billion in 2020 and is anticipated to grow at a CAGR of 11.3% during forecast period 2021 to 2030.
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Automotive Adhesive Tapes Market (By Application: Wire Harnessing, Powertrain, Acoustic Insulation, Interior Attachment, Exterior Attachment, Electronics, Chassis & Wheels; By Adhesive Chemistry: Solvent-based Adhesives, Emulsion-based Adhesives, Hot Melt Adhesives, Radiation Adhesives) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030
Report Coverage
| Report Scope | Details |
| Market Size | USD 8.70 billion by 2030 |
| Growth Rate | CAGR of 11.3% From 2021 to 2030 |
| Base Year | 2020 |
| Historic Data | 2017 to 2020 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Application, Adhesive Chemistry |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | L&L Products, Inc.; Sika Automotive AG; The 3M Company; Nitto Denko Corp.; Lida Industry Co., Ltd.; ThreeBond Co., Ltd.; PPG Industries; ABI Tape Products; Adchem Corporation; Avery Dennison Corp.; Saint Gobain; Berry Plastics; Tesa SE; Lintec Corp. |
Growth Factors
Growing usage of advanced functional materials to improve aesthetics, reduce weight, and enhance the performance of vehicles is expected to drive the market growth.
Technological developments and performance enhancements in vehicles have led to the installation of specialized components, which is expected to have a positive impact on the product demand. In addition, the increasing focus of manufacturers on the development of lightweight vehicles will augment the product demand. Growing replacement of nut bolt fasteners to reduce the vehicle weight and improve aesthetics is expected to drive the market over the forecast period.
Report Highlights
The interior attachment application segment led the market in 2021, accounting for a revenue share of over 40%. 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 solvent application segment led the market in 2020 with a revenue share of over 54%. Superior adhesion properties of solvent materials and wide adoption by the automotive OEMs support product penetration in automotive applications. Solvent-based adhesive technology can be characterized in rubber-based solvents and acrylic solvents.
The emulsion-based product segment is expected to witness the fastest CAGR of 12.7% during the forecast years on account of wide usage of these products due to high chemical & heat resistance and performance profile at low cost. These are water-based adhesives that are made of EVA or acrylic synthetic resin polymers, vinyl acetate in water, thus have low VOC contents.
Europe dominated the market with a revenue share of about 37% in 2021 and is expected to accelerate at a steady CAGR over the forecast period. This trend is attributed to the high per vehicle tape content in European brand automotive, coupled with the rising production of Electric Vehicles (EV)/Hybrid Electric Vehicles (HEV) segment vehicles, which exhibits a higher penetration of adhesive tapes.
Key Players
- L&L Products, Inc.
- Sika Automotive AG
- The 3M Company
- Nitto Denko Corp.
- Lida Industry Co, Ltd.
- ThreeBond Co., Ltd.
- PPG Industries
- ABI Tape Products
- Adchem Corporation
- Avery Dennison Corp.
- Saint Gobain
- Berry Plastics
- Tesa SE
- Lintec Corp.
Market Segmentation
- Application
- Wire Harnessing
- Powertrain
- Acoustic Insulation
- Interior Attachment
- Exterior Attachment
- Electronics
- Chassis & Wheels
- Adhesive Chemistry
- Solvent-based Adhesives
- Emulsion-based Adhesives
- Hot Melt Adhesives
- Radiation Adhesives
- Regional
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of the World
- North America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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