Automotive Adhesive Tapes Market Trends and Opportunities

Automotive Adhesive Tapes Industry Overview

The global automotive adhesive tapes market size was estimated at USD 3.62 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 6.1% from 2024 to 2030. Rapid replacement of nut bolt fasteners to reduce vehicle weight and improve aesthetics is expected to drive the tapes market over the forecast period. The market is likely to witness a growing demand from aftermarket sales as vehicle modifications and performance enhancements are considerably upscaling. Asian economies including Japan, South Korea, China, and India are anticipated to hold the majority of the electric vehicle production shares in the upcoming period. This is supported by a robust manufacturing industry, resource availability, skilled & low labor cost, and the presence of prominent automakers in the region. Technological developments by major automobile manufacturers in Europe and North America are expected to provide momentum to the market.

Gather more insights about the market drivers, restrains and growth of the Automotive Adhesive Tapes Market

The market for automotive adhesive tapes is anticipated to grow at 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, driving the demand for automotive adhesive tape products. 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 the tapes market.

There has been a positive outlook in the automotive sector across 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 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 the tapes industry.

Browse through Grand View Research’s Advanced Interior Materials Industry Research Reports.

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• The global torque vectoring market size was estimated at USD 10.89 billion in 2023 and is projected to grow at a CAGR of 10.0% from 2024 to 2030. The market is experiencing significant growth due to the increasing emphasis on vehicle performance, safety, and handling.

Automotive Adhesive Tapes Market Segmentation

Grand View Research has segmented the automotive adhesive tapes market on the basis of on application, adhesive chemistry, backing material, and region:

Automotive Adhesive Tapes Application Outlook (Volume, Million Square Meters, Revenue, USD Billion; 2018 – 2030)
• Wire Harnessing
• Powertrain
• Acoustic Insulation
• Interior Attachment
• Exterior Attachment
• Electronics
• Chassis & Wheels

Automotive Adhesive Tapes Adhesive Chemistry Outlook (Volume, Million Square Meters, Revenue, USD Billion; 2018 – 2030)
• Solvent-based Adhesives
• Emulsion-based Adhesives
• Hot Melt Adhesives
• Radiation Adhesives

Automotive Adhesive Tapes Backing Material Outlook (Volume, Million Square Meters, Revenue, USD Billion; 2018 – 2030)
• Polypropylene
• Polyvinylchloride
• Paper
• Others

Automotive Adhesive Tapes Regional Outlook (Volume, Million Square Meters, Revenue, USD Billion; 2018 – 2030)
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o France
o UK
o Italy
o Spain
• Asia Pacific
o China
o India
o Japan
o South Korea
• Central & South America
o Brazil
o Argentina
• Middle East & Africa
o South Africa

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Key Companies profiled:
• 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

Key Automotive Adhesive Tapes Company Insights

• In July 2023, Berry Global launched a next-gen version of its flagship Formifor insulation compression films by combining over 30% of recycled materials. The use of recycled content in the film is projected to contribute toward sustainability efforts in automotive manufacturing.

• In April 2023, Berry Global Group, Inc. commenced the expansion of one of its significant manufacturing facilities for stretch films in Lewisburg, Tennessee. The facility is planned to be completed by early 2024 and it will support the proliferating demand for the company’s sustainable, highest-performing stretch films, which also include adhesive tapes for diverse industries.

• In February 2023, L&L Products, Inc., announced its plans to expand its production footmark in the Village of Romeo, Michigan for accommodating the automobile industry’s finished goods. The project is anticipated to confirm the continued business growth of the company in Michigan.