What Is The Automotive Adhesive Tapes Market Growth By 2030?

 Automotive Adhesive Tapes Industry Overview

The global automotive adhesive tapes market size was valued at USD 2.69 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 7.3% from 2020 to 2028.

Growing replacement of nut bolt fasteners to reduce the vehicle weight and improve aesthetics is expected to drive the market over the forecast period. The ongoing COVID-19 pandemic across the globe has significantly impacted supply chains as major economies across the globe suspended 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 market. China witnessed a halt in vehicle manufacturing, primarily from February to March 2020 owing to the COVID-19 outburst that restricted industrial operations.

 

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

 

The overall automobile industry in the country declined by over 10% in 2020, wherein vehicle shipments from China declined slightly from January to December. The decline in automotive production translated into a reduction in sales of automotive adhesive tapes in 2020. 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 market growth. 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 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 the tapes industry.

 

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

  • Stainless Steel Market - The global stainless steel market size was valued at USD 104.23 billion in 2021 and is expected to exhibit a compound annual growth rate (CAGR) of 8.9% from 2022 to 2030.

 

  • Iron Casting Market - The global iron casting market size was valued at USD 101.17 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.1% from 2022 to 2030.

 

Market Share Insights

  • April 2022: 3M, a global leader in commercial bonding solutions, and Innovative Automation Inc., an integrator and provider of high-quality automation systems, are joining together to provide industrial manufacturers with an automated solution for tape applications that require precision, repeatability and high output. 

 

Automotive Adhesive Tapes Market Segmentation

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

  • Automotive Adhesive Tapes Application Outlook (Volume, Million Square Meters; Revenue, USD Million, 2017 - 2028)
    • Wire Harnessing
    • Powertrain
    • Acoustic Insulation
    • Interior Attachment
    • Exterior Attachment
    • Electronics
    • Chassis & Wheels

 

  • Automotive Adhesive Tapes Adhesive Chemistry Outlook (Volume, Million Square Meters; Revenue, USD Million, 2017 - 2028)
    • Solvent-based Adhesives
    • Emulsion-based Adhesives
    • Hot Melt Adhesives
    • Radiation Adhesives

 

  • Automotive Adhesive Tapes Regional Outlook (Volume, Million Square Meters; Revenue, USD Million, 2017 - 2028)
    • North America
    • Europe
    • Asia Pacific
    • Rest of World

 

Key Companies profiled:

Some prominent players in the Automotive Adhesive Tapes market include

  • L&L Products, Inc.
  • Sika Automotive AG
  • The 3M Company
  • Nitto Denko Corp.
  • Lida Industry Co, Ltd.
  • ThreeBond Co., Ltd.
  • PPG Industries
  • ABI Tape Products
  • Adchem Corporation
  • Avery Dennison Corp.
  • Saint Gobain
  • Berry Plastics
  • Tesa SE
  • Lintec Corp.

 

Order a free sample PDF of the Automotive Adhesive Tapes Market Intelligence Study, published by Grand View Research. 

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