Automotive Tapes Market Size, Share & Industry Analysis, By Type (Specialty, Double-sided, Masking, Others), By Function (Bonding, Masking, Noise, vibration, and harshness {NVH}, Others), By Application (Interior, Exterior, Wire Harnessing, Others) and Regional Forecast, 2024-2032

The global automotive tapes market size was valued at USD 5.17 billion in 2018 is projected to reach USD 6.40 billion by 2026, exhibiting a CAGR of 3.16% during the forecast period from 2019 – 2026. North America dominated the automotive tapes market with a market share of 14.06% in 2018.

Automotive tapes market growth is driven by the increasing adoption of lightweight and inexpensive materials in the automotive industry. Automotive tapes are used for a wide range of applications in the automotive industry, including wire harnessing, hole coverings, interior mounting, masking, mirror assembling, and others. Manufacturers around the globe are focused on developing better and sustainable tapes solutions to ease the operability as well as increase the adoption of automotive tapes for new applications. For instance, Techsil, a supplier of adhesive and sealant solutions headquartered in the UK, launched a new range of adhesive tapes to meet applications such as EMI shielding, heat sink optimization and others in electric vehicles. Such moves are likely to support the market growth over the forecast period.

AUTOMOTIVE TAPES MARKET MARKET TRENDS

"Rising Automation in Automotive Industry To Propel Long-Term Market Growth"

The automotive industry is rapidly adopting emerging technologies such as Internet-of-things, system integration, and other automated systems to enhance the driving experience. This has created excellent growth opportunities for the automotive tapes market. Various automotive tapes are used to mount this system in the vehicles. Besides, the amount of automotive tapes required for wire harnessing applications also increases. An average vehicle has around 2.5 to 5 km of wiring that needs to be harnessed. This accounts for around one-eighth of the total tapes consumption in an automotive.

"Meeting Competition And Supplying Demand Is Expected To Be A Major Trend In The Automotive Tapes Market"

There are many automotive tapes buyers, and there are various forms of tapes sold in small quantity by the rolls, and for the larger quantity, it is sold by kilograms. But in rare case tapes are sold by container loads, the industry is very competitive as there is the presence of many local players in the market. Moreover, the top player deals will tremendous competition, and the players are more saturated in Europe and North America; thus to meet the supply from other regions players have to be more competitive and more approachable. Thus companies are involved in mergers and acquisitions to ease the transport and supply to the demanding regions.

AUTOMOTIVE TAPES MARKET GROWTH FATCORS

"High Adoption of Lightweight Materials in the Automotive Spurs the Market Growth"

Implementation of stringent emission regulations around the world has compelled the automotive manufacturers to adopt lightweight materials and body structures to improve vehicle performance and meet the norms. This has increased the consumption of automotive tapes for various applications including aero flap, bodyside molding, roof ditch trim, window frame, cable mounting, and numerous others. Besides this, certain automotive tapes such as foam-backed tapes offer superior noise and vibration resistance that adds to the acoustic proofing of the vehicle. Thus, the multiple benefits provided by automotive tapes drive their growth in the transportation industry.

Besides this, with aesthetic point of view, the automotive tapestry is gaining the market to improve the look of vehicles. This tapestry is mostly prefred in sports cars, bikers and car stickers.

The emergence of Electric Vehicles to Create Lucrative Growth Opportunities   

To improve power to weight ratio in electric vehicles, automobile manufacturers are extensively using lightweight materials including automotive tapes to improve vehicle performance. Applications of tapes in an automobile include battery pack sealing, electrical insulation of cells & modules, battery module and package labelling, grounding & shielding, electronic components mounting, and others. Moreover, the rise in number of electric vehicles is anticipated to increase the consumption of tapes required for wire harnessing and interior mounting.

RESTRAINING FACTORS

"Slow-down in the Global Automotive Industry to Confine the Market Growth"

Slow-down in the automotive industry has affected the market growth in recent years. The automotive production predominantly determines the consumption of automotive tapes in the respective year as only a small fraction of automotive tapes is consumed in the after-market. However, the industry is expected to bounce back over the short-term forecast. Besides this, major automotive markets in countries such as China, USA, Japan, India, South Korea, Germany, France, and several other European countries have started with the expansion and adoption of electric vehicles which is poised to generate healthy growth opportunities for automotive tapes market.

AUTOMOTIVE TAPES MARKET SEGMENTATION ANALYSIS

By Type Analysis

"Specialty Tapes to Gain Momentum During the Forecast Period"

Specialty tapes in automotive are generally used for cable harnessing, wire harnessing, part mounting and noise damping applications. Specialty tapes in automotive are replacing the traditional method of fastening, saving time, weight and money. Moreover, foam tapes with rubber adhesives are the key application driver for specialty tapes in the automotive industry. Specialty tapes provide excellent bonding strength to metal and plastic more than any other technology in the automotive sector.

By Function Analysis

"Masking Function to Account for Maximum Share"

Masking can be applied in all coating and repairing processes. For car refinish task masking plays an important role in all the core processes, before all cars repair or any painting parts which are not be worked on the need to be protected from unwanted damage, soiling or paint overspray. Masking thoroughly from the very beginning reduces and eliminates any clean-up or rectification afterwards. Moreover, masking tapes are economical and higher initial tack, thus making it a preferable option in automotive tapes. Used cars require painting, repair works, and maintenance before being resold, and thus this open lucrative business opportunity for different stakeholders in the value chain, which also includes masking tapes manufacturers.

By Application Analysis

"Automotive Interior Tapes Holds the Major Share in the Global Automotive Tapes Market"

The global automotive tapes market based on application includes interior, exterior, wire harnessing, and others. Automotive tapes are widely used in bonding, sealing, and damping of interior parts and assecories. The interior automotive tapes offer many advantages such as consistent attachment over the life of the vehicle, invisible bond and acoustic management. Attachment of double-sided tapes with the automotive interior parts and accessories with double-sided tapes and foam take makes them look good, perform and sound better with more comfortable and reliable driving.

REGIONAL AUTOMOTIVE TAPES MARKET ANALYSIS

The findings based on our research methodology indicate Asia Pacific to hold the largest share in the global automotive tapes market during the forecast period. China and India play a dominant role in the growth of the global automotive tapes industry, followed by selected South East Asian countries. Rising disposable income, together with rapid urbanization, is expected to drive the demand for automobiles, thereby demonstrating a positive outlook for market growth. Moreover, the region is expected to have production growth owing to rise in competition led by new entrants in recent years.

As per our market research study, Europe is expected to witness healthy growth in terms of automotive tapes. The demand for automotive tapes has led to a huge emphasis on development of lightweight and more efficient vehicles in the major countries such as Germany, and U.K. Moreover, rising usage of the product for the manufacturing of premium and luxury cars is expected to drive the market in this region.

In North America, the automotive tapes industry is characterized by few of the large international players. According to the Pressure Sensitive Tape Council, North America (PSTC) top 10 companies represent 80% of the total tape production. Moreover, factors such as improving R&D, process innovation, and expansion of automobile production, electric vehicles boost is expected to drive the market in North America.

KEY INDUSTRY PLAYERS

 "Saint-Gobain Acquired a Manufacturer of Specialty Adhesive Tapes to Grows its Performance Plastics Operations in Germany"

• In 2017, Saint-Gobain acquired the 100% of the equity capital of Biolink, a German manufacturer of speciality adhesive tapes. The company develops and produces environment-friendly solvent-free acrylic resin adhesive tapes for the various applications such as automotive, aeronautic and industrial markets especially in Europe. The company have unique skill to develop adhesive solutions with working closely to the partners and customers.


• Besides this, the major companies such as 3M, Coroplast Fritz Müller GmbH & Co. KG., and tesa SE provides provide automotive tapes under their own brand names such as 3M automotive tapes, Coroplast automotive tapes, and Tesa automotive tapes

KEY INDUSTRY DEVELOPMENTS

• August 2019 - Toray Advanced Composites and BASF SE signed an agreement for manufacturing and supply of continuous fibre-reinforced thermoplastic (CFRT) tapes for automotive and industrial markets. Toray Advanced Composites will be producing high quality and affordable CFRT tapes by using Ultramid® engineering thermoplastics developed and produced by BASF SE. This agreement will enhances manufacturing capacity by providing commercial availability of CFRT materials for the end-users.


• March 2019 – BASF SE doubled its manufacturing capacity for UV acrylic hotmelts, sold by the brand name acResin, by building another production facility at the Ludwigshafen site in Germany. acResin is used to manufacture pressure-sensitive products which includes adhesive tapes for the automotive and construction sectors. This expansion will strengthen the market position of the company in market.

LIST OF KEY COMPANIES PROFILED IN REGIONAL AUTOMOTIVE TAPES MARKET:

• Tesa SE


• 3M Company


• Arkema S.A.


• Nitto Denko Corporation


• Avery Dennison Corporation


• Sika AG


• Saint-Gobain


• LINTEC Corporation


• Scapa


• Henkel AG


• Others

"Key Players to Uphold their Market Position Across Different Automotive Tapes Related Areas"

Major players operating in the industry are adopting strategies such as mergers, new product launch & development, acquisitions, and agreements to enhance their market share and presence. Also, to build competitiveness, companies are increasing existing product offerings.

Although, the majority of market share is consolidated among the large scale and medium scale regional manufacturers. Most of the manufacturers are investing in product and technology innovation to gain core competency within domestic and international markets.

REPORT COVERAGE

The report offers qualitative and quantitative insights on automotive tapes solutions and services and the detailed analysis of market size & growth rate for all possible segments in the market.

Along with this, the report provides an elaborative analysis of market dynamics, emerging trends, and competitive landscape. Key insights offered in the report are the adoption trends of automotive tapes solutions by individual segments, recent industry developments such as partnerships, mergers & acquisitions, consolidated SWOT analysis of key players, Porter’s five forces analysis, business strategies of leading market players, macro and micro-economic indicators, and key industry trends.

REPORT SCOPE & SEGMENTATION