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Global Automotive Adhesive Tapes Market Estimated to Reach USD 10.5 Billion by 2026: Facts & Factors

Automotive Adhesive Tapes Market

Automotive Adhesive Tapes Market

Global Automotive Adhesive Tapes market is expected to grow at a CAGR of 5.8% and is anticipated to reach around USD 10.5 Billion by 2026.

NEW YORK, UNITED STATES, July 2, 2020 /EINPresswire.com/ -- Findings from Facts and Factors report “Automotive Adhesive Tapes Market By Product (Double-sided tapes, Masking tapes, Reinforced tapes, and Specialty tapes), By Application (Interior, and Exterior) and By Backing Material (Polypropylene, Paper, and Polyvinyl Chloride): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global Automotive Adhesive Tapes market in 2019 was approximately USD 7.1 Billion. The market is expected to grow at a CAGR of 5.8% and is anticipated to reach around USD 10.5 Billion by 2026.

Automotive adhesive tape is a thin plastic-coated adhesive strip that is used to attach, paint and paste the parts together. These tapes also serve the function of bolt and weld lamination in the automotive industry.

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The growing automotive sector in developing economies and increasing demand for lightweight vehicles has significantly influenced the adoption of adhesive tapes. Moreover, original equipment manufacturers have deployed adhesive tapes for the production and assembly of small equipment of an automobile. These tapes are also used by the aftermarket. The automotive adhesive tapes can be used as an alternative of screws, bolts, and other metal fasteners. As a result, certain factors are accelerating the automotive adhesive tapes market rapidly. However, there are numerous regulations on the market, primarily focused on regulating the use of adhesives containing volatile organic compounds (VOCs) in such tapes. In addition, regulations regulating the usage of adhesive tapes in the interior of the vehicle are expected to curb the growth of the market in the forthcoming years.

The automotive adhesive tapes market is segmented based on the product, backing material, and application. On the basis of product segmentation, the market is classified into double-sided tapes, masking tapes, reinforced tapes, and specialty tapes. The double-sided tapes are used due to their quality properties such as durability, fixing, effective bonding, and sealing. Moreover, it is used as an alternative to metal fasteners in automobiles. In automobiles, these tapes are used in the exterior of the cars including parking sensors, door claddings, spoiler, and seals. Additionally, in terms of application segmentation, the market is bifurcated into the interior and exterior. The interior application segment is dominating the application segment of the market due to the rising usage of adhesive tapes for labeling and fixing parts. The backing material has been segmented based on polypropylene, paper, and polyvinyl chloride. Paper accounts the largest market share as it can enhance the functions of the adhesive and the demand for it is increasing as they are required for contours and curved surfaces. Furthermore, the rise in the development of light commercial vehicles will drive the market in future years ahead.

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On the basis of geography, the global automotive adhesive tapes market has been analyzed into five major regions including North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. The Asia Pacific holds the major market share in the regional segment owing to the rise in automobile production in India and China. Moreover, robust economic growth and a rise in business expenditure will drive the market positively in the coming years. Moreover, rapid urbanization and the growing automobile industry is expected to register high growth over the forecast period. Europe holds the second-largest position in the market owing to the development of light-weight vehicles in countries like Germany and Italy. Furthermore, the regions are analyzed in major countries such as U.S, Germany, UK, Canada, South Korea, Italy, India, Japan, Brazil, UAE, Egypt, France, China, South Africa, and Kuwait among others.

Some of the major essential market players operating in the automotive adhesives tapes market are 3M Company, Nitto Denko Corporation, Tesa SE, Avery Dennison Corporation, Henkel AG & Company KGaA, Sika Automotive AG, L&L Products Inc., Dow Automotive, PPG Industries, and EMS-EFTEC AG amongst others.

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This report segments the automotive adhesive tapes market as follows:

Global Automotive Adhesive Tapes Market: By Product Segmentation Analysis

Double-sided tapes
Masking tapes
Reinforced tapes
Specialty tapes

Global Automotive Adhesive Tapes Market: By Application Segmentation Analysis

Interior
Exterior

Global Automotive Adhesive Tapes Market: By Backing Material Segmentation Analysis

Polypropylene
Paper
Polyvinyl Chloride

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