Global Automotive Adhesive Tape Market – Industry Trends and Forecast to 2029

Market Analysis and Size

There has been an increased popularity and demand for electric vehicles owing to which the global automotive market is witnessing a shift in trends (EVs). The goal of major vehicle manufacturers is to meet environmental requirements and emission norms by significantly decreasing vehicle emissions. As a result, battery-powered vehicles such as cars, compact trucks, and other vehicles are gaining popularity around the world. The increased polarity of battery-powered vehicles further boosts automotive adhesive tape demand. Therefore, the market is estimated to grow with a good pace over forecasted period.

Global Automotive Adhesive Tape Market was valued at USD 63.10 billion in 2021 and is expected to reach USD 99.51 billion by 2029, registering a CAGR of 5.86% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Market Definition

Automotive adhesive tapes are basically the tapes that are made specifically for cars since they require a different type of adhesive, the capacity to tolerate greater temperatures, and the ability to hold longer and stronger across curves and sharp angles. Automakers can streamline their assembly procedures by using automotive adhesive adhesives. No holes must be drilled or punched in bonded parts, and assemblers do not need to measure torque or double-check fastening processes.

Report Scope and Market Segmentation

Automotive Adhesive Tape Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• High Demand For Electric Vehicle Battery Manufacturing

The growing utilization of the automotive adhesive tapes as a lightweight sealing option in electric vehicles has largely boosted the market growth. Electric car battery manufacturers utilize them all around the world to enhance production lines, increase safety, and reduce vehicle weight. Manufacturers rely on high-quality tapes, adhesives, and encapsulating materials to keep electric car batteries in place and protect them from the elements. As a result, this factor increases the market demand over forecasted period.

• Phasing Out of Traditional Fastening Systems

The traditional fastening systems such as nuts and bolts, screws and rivets, and mechanical interlocks are difficult as the material is prone to cracking under high pressure owing to tensile stress, making it unreliable and ineffective. Therefore, the conventional fastening methods are replaced with adhesive tapes. The traditional fastening systems are rendered obsolete by these tapes, which aid to extend the product's lifespan. Tapes also aid in the removal of rust and corrosion, the reduction of noise and vibration, the reduction of production and assembly time and the improvement of product design. These have been shown to boost productivity and efficiency while cutting production and material costs, which will largely bolster the growth of the market.

Opportunities

• Investments and Technological Advancements

Furthermore, the increasing investment in research and development for the production of advanced high strength adhesive tapes extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the introduction of environment friendly solvent recovery technology, as well as the performance enhancements in vehicles, have led to the installation of specialized components, will further expand the future growth of the automotive adhesive tape market.

Restraints/Challenges

• Volatility in Raw Material Prices

Adhesive tapes are made from raw materials such as rubber, acrylic, silicone, paper, polypropylene (PP), polyvinyl chloride (PVC), adhesives, and release liners. The majority of these basic materials are petroleum-based derivatives, which are susceptible to commodity price volatility. Moreover, owing to rising global demand and unrest, the oil prices have been extremely volatile in the past. The uncertainty and changes influence the market's growth in the cost and availability of feedstock. Therefore, the fluctuations in raw material prices are estimated to hamper the market growth.

• Stringent Regulatory Policies

The various regulatory agencies across the globe, which are implementing stringent regulations and policies to the chemical industry impedes the market growth. To limit VOC emissions, manufacturers in these regions are required to follow laws regulating the production and use of adhesive tapes for various applications. These regulations require manufacturers to switch from solvent-based to water-based technologies, which is a significant challenge for them because solvent-based adhesive tapes are more durable and can withstand a wide range of temperatures, making them suitable for a wider range of applications than water-based adhesive tapes. As a result, this factor poses as a challenge for the market.

This automotive adhesive tape market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the automotive adhesive tape market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Automotive Adhesive Tape Market

The recent outbreak of coronavirus had a negative impact on the automotive adhesive tape market as it directly affected the automotive as well as the financial and industrial sectors, Moreover the travel and tourism, manufacturing, and aviation everything was at a halt, which impeded the market growth. Economic activity is diminishing as a result of an increasing number of countries implementing and prolonging lockdowns, which has an influence on the global economy. Furthermore, consumer demand has decreased as people are now more focused on removing non-essential expenses from their budgets since the general economic situation of most people has been badly impacted by the outbreak. Over the forecast period, the aforementioned determinants will weigh the market's revenue trajectory over the forecast period.

On the other hand, as COVID cases have diminished and various industry manufacturing and supply operations continue, the market is expected to return to pre-pandemic levels of growth eventually. The market is expected to grow as regulatory agencies loosen the enforced lockdowns, allowing different previously stopped and cancelled operations to recommence post-COVID.

Global Automotive Adhesive Tape Market Scope

The automotive adhesive tape market is segmented on the basis of product, material type, adhesive type, adhesive chemistry, technology and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Double-Sided Tapes
• Masking Tapes
• Reinforced Tapes
• Specialty Tapes

Material Type

• Polypropylene
• Polyvinylchloride
• Paper
• Others

Adhesive Type

• Acrylic
• Silicone
• Rubber
• Others

Adhesive Chemistry

• Solvent
• Emulsion

Technology

• Water-Based
• Solvent-Based
• Hot-Melt-Based

Application

• Interior
• Exterior
• Electronics
• Body-in-White
• Powertrains
• Wire Harnessing
• Chassis and Wheels
• Others

Automotive Adhesive Tape Market Regional Analysis/Insights

The automotive adhesive tape market is analyzed and market size insights and trends are provided by country, product, material type, adhesive type, adhesive chemistry, technology and application as referenced above.

The countries covered in the automotive adhesive tape market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the automotive adhesive tape market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the rising urban population and accessibility of low labor at cheap cost.

Europe, on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the growing usage of adhesive tapes across several countries and rising development of lightweight and more effective vehicle within the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Automotive Adhesive Tape Market Share Analysis

The automotive adhesive tape market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to automotive adhesive tape market.

Some of the major players operating in the automotive adhesive tape market are

• Rogers Corporation (U.S.)
• LINTEC Corporation (Japan)
• NITTO DENKO CORPORATION (Japan)
• Adhesives Research, Inc. (U.S.)
• Advance Tapes International (UK)
• Dow (U.S.)
• Ajit Industries Pvt. Ltd. (India)
• The Chemours Company (U.S.)
• 3M (U.S.), H.B. Fuller Company (U.S.)
• RPM International Inc. (U.S.)
• Henkel AG & Co. KGaA (Germany)
• Dupont (U.S.)
• SOLVAY (Belgium)
• American Biltrite (U.S.)
• Berry Global Inc. (U.S.)
• CCT (Coating & Converting Technologies, LLC) (U.S.)
• DAIKIN (Japan)
• Lohmann GmbH & Co. Kg (Germany)
• Saint-Gobain (France)

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