Automotive Adhesive Tapes Market Size, Share & Trends Analysis Report By Application (Powertrain, Electronics), By Adhesive Chemistry (Solvent, Emulsion, Radiation), By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global automotive adhesive tapes market size was estimated at USD 3.1 billion in 2021 and is expected to expand at a compounded annual growth rate (CAGR) of 6.5% from 2022 to 2030. Rapid replacement of nut bolt fasteners to reduce the vehicle weight and improve aesthetics is expected to drive the tapes market over the forecast period. The ongoing COVID-19 outburst across the globe has significantly impacted the supply chains as major economies across the globe suspended the trade operations. Moreover, the production operations have witnessed a pullback in 2020 owing to a suspension of manufacturing operations and reduced demand from the end-user segment, thus impacting the tapes market.

The market for Automotive Adhesive Tapes is finally reaching pre-COVID levels, with a strong growth rate predicted over the projection period, owing to the economic recovery in most emerging countries. The frequent suspension of public transportation, along with the virus's highly infectious nature, fueled demand for passenger automobiles, resulting in an increase in demand for Automotive Adhesive Tapes goods. However, unexpected circumstances resulting from the pandemic's third and subsequent waves are reflecting a gloomy picture.

The global automotive market is witnessing switching trends with growing popularity and demand for electric vehicles. Prominent vehicle manufacturers are aiming to comply with environmental standards and emission norms by reducing vehicle pollutants at a significant level. Thus, battery-operated vehicles including cars, mini trucks, and others are gaining popularity across the globe which in turn are expected to positively impact tapes market.

There has been a positive outlook in the automotive sector across the developed markets such as the U.S. to developing markets such as India. 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 automotive tapes market.

The global automotive industry is growing at a rapid pace on account of the accelerating technological transformations such as the introduction of no-petroleum-based fuel or hybrid vehicles, autonomous driving, and new mobility services. The industry is expected to witness significant growth owing to the increasing sales and demand in the emerging economies of India, China, and Brazil, thus exhibiting positive growth potential for tapes industry.

Application Insights

The interior attachment application segment led the market and accounted for a revenue share of about 29.0% in 2021. 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 demand for adhesive tapes in interior applications is expected to be fueled by the high adhesive strength of the tape coupled with a superior attachment of different materials. Adhesive tapes in the vehicle interior are used in seat heating elements, attachment of foam and fabric on the instrument panel, airbag wrapping and securing, steering wheel wrapping, mounting rubber and plastic profiles in the vehicle interior.

The electronics application segment is also expected to witness a notable CAGR of 9.1% over the forecast period on account of rising demand tapes in automotive electronics such as light assemblies, air conditioning system, electronic components, interior and exterior lights, battery connectors and wires, sensors, and several other electronic devices.

The introduction of advanced features in car interiors such as the provision of attachments for mobile devices, electronic chargers, air purifiers, connection for portable refrigerators, and other components requires adhesive tapes for fixing and bonding is expected to have a positive impact on the adhesive tapes market.

Adhesive Chemistry Insights

The solvent application segment led the market and accounted for a revenue share of about 44.4% in 2021. Superior adhesion properties by solvent materials and wide adoption by the automotive OEMs supported product penetration in automotive applications. Solvent-based adhesive technology can be characterized in rubber-based solvents and acrylic solvents.

These tapes majorly use high-performance solvent-based adhesives that offer superior bonding. Solvent acrylic tapes are accepted for durability and long-term applications in automotive. Moreover, improved performance such as better resistance to chemicals, heat, and water have supported the demand for adhesive technology in automotive tapes.

Emulsion based adhesive tapes segment is also expected to witness the fastest CAGR of 8.8% over the forecast period on account of superior properties offered by the tapes such as chemical and heat resistance, performance profile at low cost. These are water-based adhesives that are composed of EVA or acrylic synthetic resin polymers, vinyl acetate in water, thus have low VOC contents.

Emulsion adhesives share similar characteristics to solvent acrylics but are produced without the use of solvents. This technology is used in adhesive tapes owing to the chemical and heat resistant properties of the emulsion. The rising concerns pertaining to VOC emissions is expected to play a major in driving the demand for emulsion based adhesive tapes.

Regional Insights

Europe dominated the market and accounted for a revenue share of about 27% in 2021 and is expected to accelerate at a CAGR of 6.5% over the forecast period. This trend is attributed to the high per vehicle tape content in European brand automotive coupled with rising production of EV/HEV segment vehicles which exhibit a higher penetration of adhesive tapes.

The regional market is flourished with prominent players operating across. More than 300 manufacturing facilities are operating in the region producing cars and trucks. These players are investing heavily in R&D for the development of electric vehicles and hybrid vehicle segments. Moreover, the installation of lightweight components for reducing fuel consumption in a car is expected to increase the penetration of tapes and adhesives.

In North America, the market is expected to witness a notable CAGR of 4.9% from 2022 to 2030, owing to the presence of a robust manufacturing base in the U.S. coupled with the rapid growth of the automotive industry in Mexico is likely to augment the demand shortly. The rising popularity of electric vehicles with advanced features and technologies is expected to augment the market. Investments by Tesla, Inc. in the U.S. to increase the production of electric vehicles and associated modern components for cars are further expected to ascend the demand for adhesive tapes.

Key Companies & Market Share Insights

The automotive adhesive tapes market is dominated by global key players exhibiting long terms supply contracts with major automotive OEMs in the world. These players are employing efforts to expand their product offering through the launch of specialized tapes for each of the subsegment applications in the automotive. The key players in the industry are investing in understanding the emerging subsegment application in automotive. In addition, they are also trying to understand the key specifiers and selection criteria for tapes for these new applications to gauge the expected market potential in the future and employ their growth strategies accordingly. Some of the prominent players in the global automotive adhesive tapes market include:

• L&L Products, Inc.

• Sika Automotive AG

• The 3M Company

• Nitto Denko Corporation

• Lida Industry Co, Ltd.

• ThreeBond Co., Ltd.

• PPG Industries

• ABI Tape Products

• Adchem Corporation

• Avery Dennison Corporation

• Saint Gobain

• Berry Plastics

• tesa SE

• Lintec Corporation

Automotive Adhesive Tapes Market 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 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global automotive adhesive tapes market report on the basis of application, adhesive chemistry, and region:

• Application Outlook (Volume, Million Square Meters; Revenue, USD Million, 2017 - 2030)

  • Wire Harnessing

  • Powertrain

  • Acoustic Insulation

  • Interior Attachment

  • Exterior Attachment

  • Electronics

  • Chassis & Wheels

• Adhesive Chemistry Outlook (Volume, Million Square Meters; Revenue, USD Million, 2017 - 2030)

  • Solvent-based Adhesives

  • Emulsion-based Adhesives

  • Hot Melt Adhesives

  • Radiation Adhesives

• Regional Outlook (Volume, Million Square Meters; Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • France

    • U.K.

    • Italy

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

  • Rest of World