The automotive adhesive tapes industry size will increase to USD 6.46 billion by 2032 from USD 3.96 billion in 2022 and is growing at a CAGR of 5.02% between 2023 and 2032.
Adhesive tapes are regarded as a crucial part of the car industry, and expanding both of these sectors' economies is thought to be a key element in the industry's expansion.
Market Growth
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Adhesives are being used in more and more automobiles. There are a number of causes for this tendency, according to Brian Cox, an expert in the Industrial and Transportation Business of 3M Co. (Livonia, MI). One reason is that modern automobiles and vehicles have more plastic and composite components than ever before, and it is not always feasible to connect them with mechanical fasteners.
The use of cutting-edge and effective materials for wire harnessing in automobiles is the emphasis of the global automotive industry, and this is seen as a key factor in the industry's expansion for car adhesive tape. The industry is expanding noticeably due to the increasing demand for adhesive adhesives from producers of electric vehicles.
Regional Snapshot:
According to a survey by the Pressure Sensitive Tape Council (PSTC), the top ten North American companies (PSTC) make up 80% of the world's tape. Additionally, the industry in North America is anticipated to be driven by elements like enhanced research and development, process innovation, increased car output, and the rise of electric vehicles.
The industry for car tape in Europe is anticipated to expand steadily over the coming years. Due to the high demand for automobile cassettes, important nations like Germany and the United Kingdom have placed a significant emphasis on creating lighter and more fuel-efficient vehicles. As a result of the product's expanding use in the production of premium and luxury vehicles, the industry for it is anticipated to expand in this area.
Automotive Adhesive Tapes Industry Report Scope:
| Report Coverage | Details |
| Market Size in 2022 | USD 3.96 Billion |
| Projected Forecast Revenue in 2032 | USD 6.46 Billion |
| Growth Rate from 2023 to 2032 | CAGR of 5.02% |
| Largest Market | Asia Pacific |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America and Middle East & Africa |
Market Dynamics:
Drivers:
Compared to vehicles powered by gasoline or diesel motors, electric automobiles require significantly fewer technological components to operate. The high-voltage battery that fuels the electric engine inside the vehicle serves as the vehicle's "tank." It is placed in the underbody, beneath the passenger cell, and is frequently the biggest part of the car. However, the battery is made up of numerous parts and battery cells rather than being a singular element. The use of adhesive adhesives along with complete automation, or "Industry 4.0," is what the makers depend on to be able to produce these complicated systems securely and in large numbers. Due to their quick management during production and dependable binding and bonding qualities, high-quality tapes have significant benefits.
Restraints:
In order to make car adhesive tapes, basic ingredients like polymers, solvents, rubber, dispersions, acrylic resins, and silicon are needed. Solvent-based products' costs are susceptible to change. Additionally, the cost of setting up an acrylic resin plant is high, and there aren't many producers of the material on the industry, which appears to cause price fluctuation for acrylic resins.
The erratic supply of basic materials needed to make adhesive strips has a negative effect on the price of those materials. Price changes cause output to be postponed or reduced, which has a bad impact on the company's revenue. Changes in raw material costs impede the industry expansion for car adhesive tape.
Opportunities:
Advanced adhesives are beginning to provide the major advantages that the automotive industry has been waiting for lighter vehicles, better bonds, less corrosion, less vibration, less metal distortion, more uniform stress distributions, quicker assembly times, and lower costs.
In comparison to mechanical connections, adhesives have much more solid and durable bonding properties. Adhesives significantly reduce noise when compared to conventional ways of construction. New adhesives are a wonderful answer to these conventional design issues with fasteners because the harsh vibrations they produce have a huge effect on the quality of design and degree of comfort while driving.
Adhesive Type Insights:
The car adhesive tape industry is currently being led by the acrylic sector. However, the segment's expansion might be hampered by the changing cost of acrylic polymers. The characteristics of acrylic that make it resistant to water and heat have increased its significance in the car adhesive tape industry. Additionally, the silicone glue industry is expanding considerably. For car parts, silicone is a resilient and flexible adhesive that can endure harsh weather conditions. The silicone polymer-based pressure-sensitive car adhesive tapes can continue to work effectively in a variety of temperatures and moisture levels.
Backing Material Insights:
During the projection period, the polyvinyl chloride (PVC) sector is anticipated to grow significantly. PVC is a thermoplastic substance with good mechanical qualities, and the PVC used for backing is water- and flame-resistant. Polypropylene is also commonly used for financial purposes. For internal uses in a car, long, unbreakable pieces of polypropylene based adhesive tape are frequently used.
Application Material Insights:
The global industry is attributable to the application's interior section. Double-sided automobile adhesive tapes are frequently used to decorate a car's interior and improve its looks. Mirrors, trailers, and mobile homes are all covered with automotive adhesive strips for the inside of the vehicle. The development of the interior application sector is also being fueled by customers' growing preference for luxury goods for automobiles. Internal car adhesive tapes are in great demand from small business proprietors and store owners.
Recent Development:
Major Key Players:
Market Segmentation:
By Workflow
By Type
By Scale
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