Automotive Tapes Market Size & Share, by Type (Specialty, Double-Sided, Masking); Function {Bonding, Masking, Noise, Vibration, Harshness (NVH)}; Application (Interior, Exterior, Wire Harnessing, Electric Vehicles); Material (Polypropylene, Poly-Vinyl Chloride, Paper) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

  • Report ID: 4496
  • Published Date: Feb 22, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2033

Automotive Tapes Market size is poised to surpass USD 13 billion by the end of 2033, growing at a CAGR of 4% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of automotive tapes was over USD 8 billion. The market's expansion can be attributed to the growing revenue of the automotive industry, which is the result of increased vehicle production globally. It has been found that the global automotive industry is expected to reach approximately USD 9 trillion by 2030. Furthermore, rising demand for premium vehicles with high-end materials, safety and technology features, and an aesthetically improved environment is expected to drive market growth.

Rapid modernization has propelled the population to adopt upgraded components for their vehicles that include electronic chargers, air purifiers, attachments for mobile devices, connections for portable refrigerators, and other components. This trend fuels the demand for automotive tapes in varied applications on vehicles such as wire harnessing, hole coverings, interior mounting, masking, mirror assembling, and many others. Furthermore, collaborations between key players and vehicle engineers to provide versatile and customizable adhesive solutions for electric vehicles are expected to present market expansion opportunities over the forecast period. For instance, in December 2020, Sika AG, the world's biggest manufacturer of adhesives and sealants for the automotive industry and building sector, introduced a new polyurethane technology called PURFORM. These high-performance solutions are used in the battery systems and bonding of body components for electric vehicles.


Automotive Tapes Market
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Automotive Tapes Sector: Growth Drivers and Challenges

Growth Drivers

  • Rising Incorporation of Advanced Driver Assistance Systems (ADAS) Technology - Cars with ADAS technology improve road safety. ADAS is a modern safety technology that assists drivers in driving and parking functions by coordinating the operation of cameras, sensors, and radars to scan the area and then feed that information to the driver. Road safety is becoming of utmost importance with increasing vehicle crashes and fatalities. For instance, about 1.3 million people lose their lives each year as a result of road traffic crashes. This can be curbed with safety technology such as ADAS, which was earlier limited to high-end luxury cars only. However, it is now found in mass-market segment vehicles as well and is expected to be incorporated in all future vehicles with innovative mounting solutions. With rising automotive digitization and environmentally friendly electrification, automotive tapes are specially designed to fulfill demanding automotive requirements and perform an increasing number of important functions in addition to various mounting applications.
  • Increased Production Rate of Vehicles - As per the Organization of Motor Vehicle Manufacturers, the global production of vehicles was 80 million units in 2021, depicting a rise, from 77 million units in 2020.
  • High Demand for Sports Cars – As per estimations, sports car sales are anticipated to augment to 920,000 vehicles in 2026. This is an increase from 840000 vehicles in 2022.
  • Increasing Preference for Electric Cars – With the rising compliance with environmental standards and emission norms to reduce vehicle pollutants at a significant level there is a surge in the demand for electric vehicles (EVs). As per a report by International Energy Agency, there were ~16.5 million electric cars on the road in 2021.

Challenges

  • Increasing Government Policies Promoting the Use of Eco-Friendly Solutions- The use of solvent-based adhesive tapes is responsible for adversely affecting the environment and human health. This is why there is a demand to develop either more environmentally friendly solvent-based solutions or switch to water-based solutions in the upcoming years, which is posing a major challenge for the manufacturers.
  • Low Adoption Rate in Developing Countries
  • Extra Expenses Incurred in Production Cycles

Automotive Tapes Market: Key Insights

Base Year

2022

Forecast Year

2023-2033

CAGR

~4%

Base Year Market Size (2022)

~ USD 8 Billion

Forecast Year Market Size (2033)

~ USD 13 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Automotive Tapes Segmentation

Application (Interior, Exterior, Wire Harnessing, Electric Vehicles)

The global automotive tapes market is segmented and analyzed for demand and supply by application into interior, exterior, wire harnessing, and electric vehicles. Out of these, the electric vehicle (EV) segment is attributed to garner the highest market share by 2033. The growth of the segment can be attributed to the growing production rate of electric vehicles globally and the anticipated high demand in the upcoming years owing to the increasing awareness among the global population regarding the ill effects of transport emissions on human health and the environment. As per the reports of the International Energy Agency, the number of electric vehicle sales in 2021 surpassed sales of 2020, nearly doubling to 6.6 million.

Type (Specialty, Double-Sided, Masking)

The global automotive tapes market is also segmented and analyzed for demand and supply by type into specialty, double-sided, masking, and others. Among these segments, the double-sided segment is expected to account for a sizable share. Double-sided tape is widely used for most automotive applications, especially for car interiors. It is excellent for dashboards or other interior pieces of a car, as it has the ability to stay hidden behind components. Additionally, automotive double-sided tape is also used for small body pieces such as bumper trims, mirrors, and others, as it is designed to withstand UV light, chemicals, cold, and humidity. Hence, numerous opportunities are anticipated for the growth of the segment with the growing demand for cars with advanced features in their interiors. It was found that ~3.79 million units of cars were sold in India in 2022, which was the highest ever in the Indian auto industry in a calendar year. The last highest was in 2018, which was ~3.38 million.

Our in-depth analysis of the global market includes the following segments:

       By Type

  • Specialty
  • Double-sided
  • Masking
  • Others

      By Functions

  • Bonding
  • Masking
  • NVH
  • Others

     By Application

  • Interior
  • Exterior
  • Wire Harnessing
  • Electric Vehicle

      By Material

  • Polypropylene
  • Poly-Vinyl Chloride
  • Paper
  • Others

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Automotive Tapes Industry - Regional Synopsis

APAC Market Statistics

The Asia Pacific automotive tapes market, amongst the markets in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed majorly to the increased demand for vehicles, which has fueled up the production, and sales, of vehicles in the region. According to the International Organization of Motor Vehicle Manufacturers (OICA) statistics, the total production of vehicles in the region was 46 million in 2021, a rise from 44 million in 2020. Furthermore, the increasing production of electric vehicles in the Asia-Pacific region, as well as their growing preference, is another growth factor for expanding the market. For instance, the International Energy Agency revealed that China was the top producer of electric vehicles in 2020, with around 1300 thousand units registered in the same year. Furthermore, the presence of some giant electric vehicle manufacturers in the region and the rising development of excellent battery designs that need adhesive tapes in electric vehicles to deliver maximum benefit to the battery cells used are also anticipated to boost market growth during the forecast period.

Research Nester
Automotive Tapes Market Size
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Companies Dominating the Automotive Tapes Landscape

top-features-companies
    • Tesa SE
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • BASF SE
    • 3M Company
    • Arkema S.A.
    • Nitto Denko Corporation
    • Avery Dennison Corporation
    • Sika AG
    • Henkel Corporation
    • Lintec Corporation
    • Saint-Gobain Group

In the News

  • BASF SE and Toray Advanced Composites have entered into an agreement that is focused on the production of continuous fiber-reinforced thermoplastic (CFRT) tapes for the automotive and industrial markets.

  • Tesa SE has planned to build a new plant in Vietnam that is expected to produce adhesive tapes for the Asian market starting in 2023.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 4496
  • Published Date: Feb 22, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The expansion in automotive industry and the increased demand for vehicles is expected to fuel the market growth in the future.

The market is anticipated to attain a CAGR of 4% over the forecast period, i.e., 2023-2033.

The low adoption rate in developing countries owing to less amount of awareness along with extra expenses incurred in production cycles and rising government policies regarding carbon dioxide emission by vehicles are some of the factors that are expected to hamper the market growth.

The market in Asia Pacific is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are Tesa SE, BASF, 3M, Arkema, Nitto Denko Corporation, Avery Dennison, Sika AG, Henkel Corporation, LINTEC Corporation, Saint-Gobain Group, and others.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by type, function, application, material, and by region.

The electric vehicle segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
Automotive Tapes Market Report Scope
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