Press release
The Automotive Adhesive Tapes Market is projected to reach $6.63 billion by 2032, growing at a CAGR of 5.8%.
In 2023, the global market for automotive adhesive tapes was estimated to be worth USD 4.06 billion. It is anticipated to grow at a compound annual growth rate (CAGR) of 5.8% from USD 4.24 billion in 2024 to USD 6.63 billion by 2032.Report Scope
The research focuses on current trends, significant industry rivals, market distribution, revenue generated, and geographical information to provide a comprehensive understanding of the automotive adhesive tapes market.
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What Are Automotive Adhesive Tapes?
Automotive adhesive tapes are tapes utilized in the automotive industry to secure and wrap components and safeguard surfaces. They are utilized to fix moldings, emblems, and body panels, as well as to insulate and safeguard the vehicle's interior and exterior. Automotive adhesive tapes need to be robust, endure extreme temperatures, and be resistant to UV radiation. They should also be capable of adhering to materials with low surface energy, such as paint systems and polyolefin plastics. They are employed to assemble vehicle parts, protect surfaces from harm, cover surfaces prior to painting, arrange electrical wires, and connect powertrain components to guarantee dependable performance. The two primary kinds of these tapes are acrylic (a superior adhesive that adheres to various surfaces) and foam (which is resistant to weather and absorbs shock).
Growth Drivers and Opportunities
• The automotive adhesive tapes market is thriving, fueled by the escalating market trends on vehicle production rates.
• The automotive industry's shift towards lightweight materials for improved fuel efficiency has significantly increased the demand for automotive adhesive tapes.
• The growing focus on sustainability across the globe is also promoting the growth in the market of automotive adhesive tapes.
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Key Players in Market
The market for automotive adhesive tapes includes a wide range of participants, and the anticipated arrival of new entrants is set to heighten competitive dynamics. Their main objective is to surpass rivals in the industry, ultimately capturing a considerable share of the automotive adhesive tapes market. Some of them include:
• 3M Company
• Adchem Corporation
• Advance Tapes International
• Avery Dennison Corporation
• Berry Global Group, Inc.
• Henkel AG & Co. KGaA
• Jonson Tapes Limited
• L&L Products, Inc.
• Lintec Corporation
• Lohmann GmbH & Co. KG
• Nitto Denko Corporation
Automotive Adhesive Tapes Market Report Highlights
• The demand for polyvinylchloride is expected to increase during the forecast period owing to its excellent adhesive properties and flexibility.
• In 2023, the solvent-based adhesives segment held a significant revenue share owing to its ability to provide strong and durable bonds on surfaces exposed to extreme conditions such as temperature variations, moisture, and chemicals.
• In 2023, the vehicle interior segment held a significant revenue share owing to wide application in trims, panels, emblems, and other decorative elements.
• Asia-Pacific is expected to experience significant growth during the forecast period due to an upsurge in automotive production, emphasis on lightweight and fuel efficiency in vehicles, and greater emphasis on electric vehicles.
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Regional Analysis
• In 2023, Europe held a significant revenue share in the automotive adhesive tape market. This dominance is rising consistently, driven by the industry's focus on lightweight materials and sustainability.
• Asia Pacific is anticipated to see significant growth throughout the forecast period, fueled by its role as a major global manufacturing center and the thriving automotive industry.
• North America
• U.S.
• Canada
• Europe
• France
• Germany
• UK
• Italy
• Netherlands
• Spain
• Russia
• Rest of Europe
Segmental Overview
Automotive Adhesive Tapes Market, Backing Material Outlook (Revenue - USD Billion, 2019-2032)
• Polyvinylchloride
• Polypropylene
• Paper
• Others
Automotive Adhesive Tapes Market, Adhesive Chemistry Outlook (Revenue - USD Billion, 2019-2032)
• Hot Melt Adhesives
• Solvent-based Adhesives
• Radiation Adhesives
• Emulsion-based Adhesives
• Others
Automotive Adhesive Tapes Market, Application Outlook (Revenue - USD Billion, 2019-2032)
• Vehicle Exterior
• Vehicle Interior
• Powertrain
• Wire Harnessing
• Electronics
• Others
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