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Automotive Adhesive Tapes Market
According to recent market research ‘Automotive Adhesive Tapes Market by Adhesive Type (Acrylic, Silicone, Rubber), Backing Material (Polypropylene, Polyvinyl Chloride, Paper), Application (Exterior, Interior, Electric Vehicle) and Region – Global Forecast for 2026 “, the global automotive adhesive tapes market size was USD 8.5 billion in 2020 and is expected to reach USD 12.1 billion by 2026, at a CAGR of 5.9% between 2020 and 2026 , due to an increase in demand for automotive adhesive tapes in lightweight hybrid vehicles.
Browse 264 market data tables and 52 figures spread over 263 pages and an in-depth table of contents on “Automotive Adhesive Tapes Market – Global Forecast to 2026”
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Polyvinyl Chloride (PVC) is expected to grow at a faster rate during the forecast period as it is a major backing material used in the automotive adhesive tape industry. Polyvinyl Chloride Backed Automotive Tapes are used for special applications in the insulation and assembly of electronic components.
The electric vehicle segment is expected to grow with the highest CAGR in terms of value during 2021-2026. The growth is due to advancements in electric vehicle battery technology which create opportunities for adhesive tapes in bonding and heat management applications.
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The global automotive adhesive tapes market size was USD 8.5 billion in 2020 and is expected to reach USD 12.1 billion by 2026, at a CAGR of 5.9% between 2021 and 2026, due to an increase of the demand for automotive adhesive tapes in light hybrid vehicles. Polyvinyl chloride is expected to register the fastest growth during the forecast period, with a CAGR of 7.1% from 2021 to 2026. Polyvinyl chloride, as a backing material for adhesive tapes, meets the requirements of some of the largest applications in the automotive industry, such as wiring harness, UV resistance, electrical insulation, device shielding and others.
The major players in the automotive adhesive tapes market 3M (USA), Nitto Denko Corporation (Japan), tesa SE (USA), Avery Dennison Corporation (USA), Lohmann GmbH & Co.KG (Germany), Henkel AG & Co. KGAA (Germany), Sika AG (Switzerland), Intertape Polymer Group (United States), Lintec Corporation (Japan), Shurtape Technologies, LLC (United States), Scapa (United Kingdom) and L&L Products (United States). These players have adopted expansions, joint ventures, mergers, acquisitions, agreements, collaborations, product launches and partnerships as growth strategies to meet the growing demand for automotive adhesive tapes.
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3M is a leading manufacturer of technology-based products, supplying automotive adhesives and tapes for various applications through its Safety and Industrial business unit. In December 2020, 3M launched 2,480 3M Hi-Tack Silicone Adhesive Tapes. The products offer pure performance, stronger grip and longer wear time.
Another important player in the automotive adhesive tapes market is tesa SE. In May 2020, tesa SE expanded a new factory in Vietnam for the production of adhesive tapes for the Asian market, which will start from 2023. This will allow the tesa group to strengthen its presence in Asia and significantly increase its capacities. In addition, in March 2019, tesa added Sugru, a special moldable silicone-based glue, to its innovative product line. The company, followed by the acquisition of UK-based FormFormForm Ltd. in May 2018, added a line of innovative products to its existing wide range of consumer products.
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