Automotive Adhesive Tapes Market Size, Share & Trends Analysis Report By Product (Double-sided, Specialty), By Function, By Application (Interior, Exterior), By Vehicle Type, And Segment Forecasts, 2019 - 2025

Industry Insights

The global automotive adhesive tapes market size was valued at USD 5.2 billion in 2018, and is expected to exhibit a CAGR of 4.5% from 2019 to 2025. Increasing application of pressure sensitive products in the growing automotive industry is expected to be one of the primary factors driving the growth.

Polyvinyl Chloride (PVC), Polypropylene (PP), acrylic, Styrene-Butadiene Rubber (SBR), plastics, and paper are the key raw materials used for manufacturing automotive adhesive tapes. These products are derived from crude oil and therefore, fluctuation in crude oil prices has a notable impact on their sourcing price, thereby impacting the overall cost of tapes.

Surge in the usage of automotive adhesive tapes for bonding of electronic products in car interiors, coupled with rising production of electric and hybrid vehicles in U.S., is projected to fuel the growth. In addition, high sensitivity of manufacturers located in the economy towards automobiles aesthetics is expected to benefit the market.

Development of advanced products for sealing, coupled with rising investment in R&D for the production of advanced high strength adhesive tapes, is projected to drive the product demand over the forecast period. In addition, development of eco-friendly solvent recovery technology used for the coating of adhesives is expected to drive the product demand in the forthcoming years.

Bio-plastic and paper-based tape backings are expected to witness rise in production as they do not cause severe harm to the environment. In addition, use of adhesives in the product is highly guarded and subject to a number of regulations due to perceived negative effects of the toxic materials in the composition.

The market is subject to a number of regulations, primarily directed to monitor the usage of adhesives containing Volatile Organic Compounds (VOCs) in tapes. In addition, presence of regulations monitoring the usage of adhesive tapes in car interior products is expected to limit the market growth in the next few years.

Product Insights

Double-sided products are expected to witness significant growth owing to superior properties such as durability, effective bonding, fixing, and sealing. In terms of volume, this segment is expected to register a CAGR of 3.8% from 2018 to 2025 on account of increasing substitution of metal fasteners in automobiles due to increased affinity towards lightweighting.

Double-sided tapes are extensively used in car exteriors, including parking sensor retainers, door cladding, and spoiler and seals. Superior properties offered by the product, such as vibration and noise reduction, is expected to propel growth of automotive adhesive tapes market.

Non-woven specialty tapes are generally thinner that can be easily torn by hand, and can conform to irregular surfaces. Superior features of non-woven material backed products, such as good shear strength, and abrasion and temperature resistance, are expected to increase the product use, which is further expected to drive the demand.

Foam tapes are generally used to mitigate gaps, dampen unwanted vibrations and noises, and bond different substrates. Specialty tapes are generally used for cable harnessing, part mounting, wire harnessing, and noise damping applications in the automotive industry. The aforementioned superior characteristics of the foam backed products are expected to drive the demand.

Function Insights

Demand for adhesive tapes for bonding is expected to gain high traction over the forecast period due to superior performance characteristics of the product. The bonding segment was valued at USD 1.9 billion and is projected to register significant growth over the next few years on account of high bonding strength offered by the product.

Double-sided bonding tapes are expected to witness an increase in demand on account of properties of the product such as adhesion between non-uniform surfaces as well as superior bond strength between joint media. In addition, development of advanced interior and exterior products is expected to result in augmented product demand in near future.

Growing demand for noise, vibration, and harshness reduction, and acoustic management in automobiles is expected to drive the market over the forecast period. Moreover, automotive NVH materials and products find applications in insulating and absorbing internal and external noises as well as engine heat, which is expected to fuel the growth.

The NVH segment stood at USD 994.4 million square meters in 2018 and is projected to witness substantial growth over the next few years on account of increasing deployment of NVH reduction materials. In addition, shifting focus of car manufacturers towards enhancing ride quality, comfort levels, and durability of small and medium cars.

Vehicle Type Insights

The passenger cars segment accounted for 75.2% share of the overall revenue in 2018 owing to high product penetration in passenger cars. In addition, growing concerns regarding the overall weight of automobile is expected to provide growth opportunities for the market over the forecast period.

Rising substitution of metal fasteners and sealants in passenger cars is projected to drive the overall demand for automotive adhesive tapes. Moreover, growing application of NVH based adhesive tapes to aid the reduction of noise and vibration in crossover sports utility vehicles, coupled with rising emphasis on vehicle aesthetics, is expected to favor the industry growth.

Development of high-strength product is expected to fuel the demand from the light commercial vehicles (LCVs) . The LCV segment was valued at USD 1.3 billion in 2018 and is expected to register notable growth on account of rising product use in exterior applications.

Application Insights

Rising substitution of conventional fastening methods by automotive adhesive tapes for interior applications is expected to fuel the market growth over the coming years.This application segment stood at 1,225.6 million square meters in 2018, and is expected to witness notable growth as it is mainly used for bonding of instrument panels, sunroofs, and headliners.

Use of the product in interior applications is expected to register notable growth as they are used to mitigate noise and vibration, and for sealing cavities in vehicle doors. In addition, demand for the product in interior applications is projected to be fueled by high bonding strength and superior aesthetics.

Rising use of electronic equipment in automobiles is expected to augment the demand for marking and masking tapes. In addition, the products play a key role in heat management in engine compartment, which is expected to drive the product use over the coming years. In addition, rising demand for electrically conductive tapes for electronic shielding is expected to fuel the growth.

Demand from automotive electronics is expected to be affected by rising demand for automation in the automotive industry. In addition, the market is expected to register gains on account of growing inclination of the OEMs towards the use of the product in the interiors and exteriors of passenger cars and LCVs.

Regional Insights

Asia Pacific led the market and generated a revenue of USD 2.4 billion in 2018. This region is projected to witness exponential growth over the forecast period owing to increasing automobile production in China and India. Moreover, robust economic growth and increase in business spending is expected to positively impact the industry growth.

Rising discretionary income, coupled with rapid urbanization, is expected to drive the demand for automobiles, thereby exhibiting positive outlook for the market growth. In addition, the region is expected to witness production growth owing to rise in competition led by new entrants in the recent past.

Factors such as process innovation, improving R&D, and expansion of automobile production in Austria, Hungary, and Romania are expected to fuel the market growth over the forecast period. In addition, recovery of the automotive market in Russia is expected to impart impetus to the automotive production in the region.

Europe was valued at USD 1.5 billion in 2018 and is projected to witness notable growth due to development of lightweight and more efficient vehicle in major countries, such as Germany. In addition, rising usage of the product for manufacturing premium segment cars is expected to drive the growth in the forthcoming years.

Automotive Adhesive Tapes Market Share Insights

Key market players are involved in the production of a number of advanced products and expansion of their product portfolio. Introduction of advanced acrylic adhesive technology is one of the major areas expected to foresee voluminous research and development undertaken by companies over the forecast period.

Market players are laying high emphasis on the development of advances high performance grade backing material for tapes. In addition, key companies in the market are taking efforts to develop products with eco-friendly characteristics and superior aesthetics to gain competitive advantage.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global automotive adhesive tapes market report on the basis of product, application, function type, vehicle type, and region:

• Product Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 - 2025)

  • Double-sided

  • Masking

  • Reinforced

  • Specialty

• Application Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 - 2025)

  • Interior

  • Exterior

  • Electronics

  • Body-in-White

  • Powertrains

  • Wire Harnessing

  • Chassis & Wheels

  • Others

• Function Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 - 2025)

  • Bonding

  • NVH

  • Masking

• Vehicle Type Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 - 2025)

  • Passenger Cars

  • Light Commercial Vehicles

• Regional Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 - 2025)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Thailand

  • Central & South America

    • Brazil

  • Middle East & Africa

    • South Africa