Automotive Tapes Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Automotive tapes Market

The automotive tapes market size was valued at USD 5.17 billion in 2018, and the market is now projected tgrow tUSD 6.40 billion by 2016, exhibiting a CAGR of 3.16% during the forecast period of 2019-2026.

COVID-19 served as a both a boon and bane for the automotive tapes market. This period witnessed the temporary closing down of automotive manufacturing and assembling plants, disruptions in the supply chains further highlighted by the lockdowns negatively impacted automotive tapes market ta certain extent in the short term. But after industries opened and started functioning, the market show signs of improvement because of rising productions of EVs and lightweight cars that are dependent on tapes such as bonding, insulation, and assembling. Moreover, the pandemic had prompted consumers tlean towards the use of automation and more superior materials hence boosting the automotive tapes whose performance meets new changes in the market. These factors kept the automotives tapes market steady.

the constant hike in emission regulation norms has forced automotive manufacturers tconsider lightweight materials and body structures tboost vehicle performance around the world. This has enhanced the demand of automotive tapes in different application like aerflap, bodyside molding, roof ditch trim, window frame, cable mounting and many more. Apart from this, there are several specific kinds of automotive tapes including foam-backed tapes, which have greater noise and vibration damping properties that enhance vehicle acoustic proofing. Therefore, since there are many advantages that automotive tapes offer, their uptake in the transportation sector continues trise. These factors drive the automotives tapes market shares.

Currently, the automotive industry is in the process of implementing the new technologies like Internet-of-things, system Integration and other automation system for better control of driving moments. This has resulted in perfect growth opportunities for the automotive tapes market. Different automotive tapes help in fixing this system on the respective automobiles. Further, the volume of automotive tapes used for wire harnessing applications rises as well as the number of layers is larger in automotive tapes.

Comprehensive Analysis of Automotive tapes Market

The automotive tapes market is responding quite an unprecedented rate of growth because of its market segmentation. This indicators growth in different regions by substituting the major forces of supply and demand which define the shape of local pharmacy benefit management market. Therefore, they are logically divided int3 Segments, By Type Analysis, By Function Analysis and By Application Analysis. Autspecialty tapes can be used primarily for cable and wire harnessing, part attachment and vibration control. Automotive specialty tapes are beginning tdisplace conventional fastening methods, and the process is faster and cheaper than before, tsay nothing of weight concerns. Furthermore, foam tapes with rubber adhesive are one of the primary applications for specialty tapes that is driving growth in automotive. Masking can be done in following all the coating and repairing processes. In accomplish all the basic processes involved in car refinish, task masking is pivotal, before all cars repair or any parts painting not worked on need tshield from, accidental damages, soiling, unwanted paint spraying, etc. Covering up completely right ta detail erases and cuts off nearly any washing or fixing up that may follow later. The global automotive tapes market segmented based on application comprises interior, exterior, wire harnessing and others. Automotive tapes are found in joining, sealing and insulation of automotive interior components and hardware.

The market size in Asia Pacific had a considerable presence in the global market. As has already been seen, China and India are the key drivers of the market with selected South East Asian countries. As expanding number of consumers with higher disposable income complementing the accelerating rate of urbanization, market may witness surge in demand for automobiles in the coming years as a sign of the market growth. Further, the production growth is anticipated for the region due tincreases in competition emerging from the entry of new entities in the recent past.

Tesa SE (Germany), 3M Company (U.S.), Arkema S.A. (France), NittDenkCorporation (Japan), Avery Dennison Corporation (U.S.), Sika AG (Switzerland), Saint-Gobain (France), LINTEC Corporation (Japan), Scapa (U.K.), and Henkel AG (Germany) are significant players in the adhesive and sealants market. They are the key player that ensures the industry's success while still having tkeep pace with their innovation in product and services. They offer a competitive zone that incites the growth of technologies and quality assurance. They operate on a global scale and have a wide range of product lines ensuring that the market players compete on a fair playing field bringing in innovations that result in the market's evolution.

In August 2019, As discussed by Bernhard; Toray Advanced Composites and BASF SE entered inta manufacturing and supply agreement that concerns the continuous fibre-reinforced thermoplastic (CFRT) tapes for automotive and Industrial sector. This raw material will make Toray Advanced Composites create high quality and relatively cheap CFRT tapes by using Ultramid® engineering thermoplastics manufactured by BASF SE. This agreement will improve manufacturing capacity in that it will assure commercial accessibility of the CFRT materials tthe end-users.

Segmentation Table

ATTRIBUTES DETAILS

Study Period 2015-2026

Base Year 2018

Forecast Period 2019-2026

Historical Period 2015-2017

Unit Volume (Million Square Meters), Value (USD million)

By Type

Speciality

Double-sided

Masking

Others

By Function

Bonding

Masking

NVH

Other

By Application

Interior

Exterior

Wire Harnessing

Others

By Region

North America (U.S. and Canada)

Europe (UK, Germany, France, Scandinavia and Rest of Europe)

Asia Pacific (Japan, China, India, Southeast Asia and Rest of Asia Pacific)

Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)

Latin America (Brazil, Mexicand Rest of Latin America)