PUBLISHER: The Business Research Company | PRODUCT CODE: 1350799
PUBLISHER: The Business Research Company | PRODUCT CODE: 1350799
“Automotive Adhesive Tapes Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive adhesive tapes market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive adhesive tapes? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The automotive adhesive tapes market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Major players in the automotive adhesive tapes market are: Saint-Gobain, 3M, Henkel AG & Co. KGaA, PPG Industries Ohio Inc., Berry Global Inc., Sika Services AG, Avery Dennison Corporation, DIC Corporation, Nitto Denko Corporation, Lintec Corporation, Tesa SE, ORAFOL Europe GmbH, Lohmann GmbH & Co. KG, ThreeBond Holdings Co. Ltd., Shurtape Technologies LLC, Scapa Group, Coroplast Tape Corporation, MACtac, HALCO, American Biltrite Inc., L&L Products Inc., PPM Industries Group, Adhesives Research Inc., JBC Technologies Inc, Advance Tapes International Ltd., ATP Adhesive Systems AG, Adhesive Specialties, Ajit Industries Private Limited, Presto Tape, and NADCO Tapes & Labels Inc.
The global automotive adhesive tapes market is expected to grow from $4.63 billion in 2022 to $4.94 billion in 2023 at a compound annual growth rate (CAGR) of 6.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive adhesive tapes market is expected to reach $6.24 billion in 2027 at a CAGR of 6.0%.
The automotive adhesive tapes market consists of sales of fine line tape, slip-resistant tape, conspicuity tape, abrasive blasting tapes, plating tapes, and related products. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods
Automotive adhesive tape refers to a form of tape made especially for vehicles as they need a special adhesive, the capacity to endure greater temperatures, and the ability to adhere more firmly and for a longer time along a variety of curves and acute angles. It is used to firmly secure items to the bodywork of vehicles.
Asia-Pacific was the largest region in the automotive adhesive tapes market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive adhesive tapes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa
The main products of automotive adhesive tapes are double-sided tapes, masking tapes, reinforced tapes, and specialty tapes. Double-sided tape refers to a specific sort of tape that has exposed pressure-sensitive adhesive on both sides and is used to firmly affix objects to vehicles. These use various adhesive types such as acrylic, silicone, rubber, others and backing materials such as polyurethane (PU), ethylene-vinyl acetate (EVA), and butyl with polypropylene (PP), polyvinylchloride (PVC), paper, and others. These are water-based, solvent-based, and hot-melt-based. These are used for wire harnessing, powertrain, acoustic insulation, interior attachment, exterior attachment, electronics, and chassis, and wheels applications.
The rising trend of electric vehicles is expected to boost the growth of the automotive adhesive tapes market going forward. An electric vehicle (EV) refers to a vehicle that can move forward using an electric motor that draws power from a battery and can be externally charged. Automotive adhesive tape is used to permanently bind battery cells and insulate electrical components in the batteries of electric vehicles; hence the rising trend of electric vehicles is expected to boost the automotive adhesive tapes market. For instance, according to a report published by the International Energy Agency, a France-based inter-governmental organization, in 2021, sales of electronic vehicles doubled, compared to 2020, with a record of 6.6 million. In 2022, 2 million electric cars were sold in the first quarter, 75% more than the Q1 2021. Therefore, the rising trend of electric vehicles is driving the growth of the automotive adhesive tapes market.
Product innovation is the key trend gaining popularity in the automotive adhesive tapes market. Major companies operating in the automotive adhesive tapes market are focusing on developing new products. For instance, in August 2022, Lohmann Technologies, a US-based manufacturer of tapes and films, launched DuploCOLL LE, a range of adhesive tapes for use in vehicle interiors to bond low-emission materials. It is a portfolio of high-tech adhesive tapes with low emissions and low odors for bonding in vehicle interiors. It is also made in an energy-efficient manner. The new DuploCOLL LE 59xxx (Low Emission) series of double-sided pressure-sensitive tapes satisfy OEMs' stringent demands for materials and components that have low VOC, fogging, and odor values in accordance with VDA 278. The bonding of rear seat coverings, pillar or door trims (NVH felts), which involve large-area applications and high-volume adhesive tape use, has no negative effects on the interior air quality.
In December 2022, Shurtape Technologies LLC, a US-based manufacturer and marketer of adhesive tapes, acquired Pro Tapes for an undisclosed amount. The acquisition boosted the growth of both businesses through greater investments in manufacturing capacity, sales initiatives, and marketing initiatives. Together, they remain committed to providing the sectors they serve with outstanding innovation, service, and quality. Pro Tapes is a US-based tape manufacturer and specialty converter.
The countries covered in the automotive adhesive tapes market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The automotive adhesive tapes market research report is one of a series of new reports from The Business Research Company that provides automotive adhesive tapes market statistics, including the automotive adhesive tapes industry global market size, regional shares, competitors with an automotive adhesive tapes market share, detailed automotive adhesive tapes market segments, market trends, and opportunities, and any further data you may need to thrive in the automotive adhesive tapes industry. This automotive adhesive tapes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.