Market Research Report
Global Automotive Adhesive Tape Market - 2020-2027
|Published by||DataM Intelligence||Product code||998461|
|Published||Pre-Order||Content info||180 Pages
Delivery time: 2 business days
|Global Automotive Adhesive Tape Market - 2020-2027|
|Published: Pre-Order||Content info: 180 Pages||
The automotive adhesive tape market size was worth US$ XX billion in 2019 and is estimated to reach US$ XX billion by 2027, growing at a CAGR of XX % during the forecast period (2020-2027).
Automotive adhesive tapes are used to bond two surfaces together or fasten components to substrates, to protect the surface from impacts, abrasion, chemicals, moisture, and vibrations. It is also used to cover the surface and alter its transparency, appearance. The tapes improve the flexibility, toughness, durability of plastic resins used in the automotive industry. It also helps in reducing weight, eliminating noise, increasing rigidity, and minimizing maintenance work. The automotive tapes are widely used in cockpits, doors, front and rear end, fuel systems, glass, overhead, seats and other numerous parts.
The automotive tapes are present in various adhesive materials such as acrylic, rubber, silicone, butyl and others. The automotive adhesive tapes are present in various forms in the market such as transparent tapes, PE, PU and PVC foam tapes, double-sided tapes, thermally conductive and shielding tapes, auto body protection tapes, side tapes, floor marking tapes and others.
The global automotive adhesive tape market growth is driven by demand for more efficient and lightweight alternatives in the automotive industry, increasing trends for electric vehicles and demand for long-sustaining adhesives.
The increasing demand for plastics in various industries is expected to drive market growth
The planned ban on diesel and petrol car sales by 2040 due to the harmful emissions will change the automotive adhesive tape market adhesive. Various companies like Volvo are already in a transition phase towards the initiative. Moreover, according to Environment Impact Assessment, electric cars topped 2.1 million globally in 2019 registering a 40% year-on-year increase.
Adhesive tape is forecasted to experience healthy opportunities in the automotive industry with electric car's battery generates heat and voltage that needs to be shielded to ensure user safety, due to the reason various leading market players like such as Tesa, 3M are coming up with double-sided tape and special film to avoid power surges and wrapping batteries with tapes withstanding temperatures of up to 150°C. For instance, ITW Stokis Tapes have launched a separate portfolio for electric vehicles, which include StokTherm, ITW Formex and StokSeal.
Government Regulations on PVC can affect the automotive adhesive tape market growth
The automotive adhesive tape market is impacted by banning PVC in various countries such as Spain, Canada, South Korea and the Czech Republic. Some U.S. cities such as NJ, Rahway and Glen Cove, Also NY have prohibited the use of PVC in food packaging or utensils. With the reducing use of PVC, the production and consumption of automotive adhesive tapes are also expected to decline.
COVID-19 Impact Analysis
Due to the pandemic, stakeholders across the automotive adhesive tape industry have seen a notable impact as all the manufacturing industries were closed. The automotive adhesive tape market suffered a decline in 2020 due to reduced demand in the automotive sector. For instance, according to the Economic Times report, the automotive industry suffered Rs 2,300 crore loss per day amid pandemic, affecting the automotive adhesive tape market. The market was also hindered by shortage of raw materials, halts and supply chain disruption due to restrictions imposed by the government.
By adhesive type, the automotive adhesive tape market is classified into acrylic, rubber, silicone, butyl and others.
The acrylic type automotive adhesive tape market is expected to grow at the fastest CAGR during the forecast period (2020-2027)
The acrylic type automotive adhesive tape is expected to hold the largest market for automotive adhesive tape market is the forecast due to the following advantages: high-strength core with low elongation properties, cold-temperature impact resistance, easy liner release, maintains adhesion during the shrinkage and elongation caused by temperature changes, good final adhesion and peel strength, performs well in a wide range of weather, solvent and temperature conditions.
The acrylic type automotive adhesive is used in various car and motorbike parts including door and window seals, door cladding and inlay, roof rails, spoiler, rocker panel/body side molding and parking sensor retainers. Moreover, according to the International Organization of Motor Vehicle Manufacturers, global production was cars were estimated at around 2o million. With the increasing production of cars globally, the market for acrylic type adhesive tape market is forecasted to grow.
Asia Pacific region holds the largest market for the global automotive adhesive tape globally
Asia Pacific holds the largest market for automotive adhesive tapes globally and is forecasted to continue its dominance with increasing demand for light commercial vehicles in countries like China, Japan and South Korea. According to the International Organization of Motor Vehicle Manufacturers, production for light commercial vehicles reached 46 lakhs in 2020. The increasing concern towards road safety and avoiding accidents will boost the demand for reflective tapes in the region. According to National Highway Traffic Safety Administration, using retro-reflective tapes in heavy vehicles, an estimated 200 to 350 lives can be saved every year. Asia has accounted for 25% of deaths compared globally in terms of road accidents. The region has frequent use of emergency vehicles such as ambulances, fire trucks and police vehicles operating at fast speeds, moreover moving heavy vehicles at night for transportation purposes caters to the demand for reflective tapes. Also, increasing demand for decorative, automotive tapes, high-temperature tapes and transparent tapes are expected to boost the automotive decorative market in the region.
The automotive adhesive tape market is moderately competitive with the local player's presence, followed by the global companies who contribute to the major share in the market growth. In addition, some of the key players contributing to the growth of the market are Lohmann Technologies, 3M, Tesa SE, Bostik, Henkel, Berry Global Inc, Avery Dennison Corporation, Lintec of America, Inc, Pioneer Tapes, Shurtape Technologies, Inc, DIC Corporation and others. The major players are adopting various new strategies to dominate the market, such as launching new products, acquisitions and collaborations, which are contributing to the growth of the automotive adhesive tape market globally.
Overview: Lohmann Technologies is a manufacturer of adhesive tape systems and adhesive solutions for electronics, transportation, graphics, building and renewable, hygiene and medical industry. The adhesive tape sector offers a wide range of services ranging from customized adhesive solutions to formula development. The Adhesive Tape Group is headquartered in Neuwied, Germany with 29 international sites and exclusive sales partners in over 50 countries globally.
Product Portfolio: The Company manufactures a wide range of products under adhesives including solvent-based, dispersion adhesives, hot melt-based adhesives, rubber and acrylic-based adhesives.
Key Development: In 2019, Lohmann Technologies launched DuploCOLL 911XX NP adhesive tape solutions in layer thicknesses 0.60mm, 0.80 mm, 1.1 mm and 1.5 mm for exterior applications in the automotive industry.
The global automotive adhesive tape market report would provide access to an approx: 77 market data table, 87 figures and 240 pages.
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