Market Size of Automotive Adhesive Tape Industry
| Study Period | 2019-2029 |
| Market Size (2024) | USD 5.35 Billion |
| Market Size (2029) | USD 7.06 Billion |
| CAGR (2024 - 2029) | 5.70 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automotive Adhesive Tape Market Analysis
The Automotive Adhesive Tape Market size is estimated at USD 5.35 billion in 2024, and is expected to reach USD 7.06 billion by 2029, growing at a CAGR of 5.70% during the forecast period (2024-2029).
The COVID-19 pandemic significantly impacted the automotive adhesive tape market by disrupting the supply chain, causing production to slow and shut down and an economic downturn. While the initial impact of COVID-19 was negative, the market is on a recovery path during the forecast period.
- The adhesive tapes are anticipated to witness growth due to the rising demand for a lightweight sealing solution in electric vehicles over the forecast period. In addition, adhesive tapes offer an attractive alternative to traditional mechanical fastening methods and play a vital role in the EV manufacturing sector.
- Growing trends of electrification and automation are resulting in rising challenges for automotive manufacturers. The high cost of electric vehicles is a challenge that is likely to restrict the growing demand.
- Demand for heat-resistant and low VOC automotive adhesive tapes creates lucrative opportunities to improve heat management efficiency. It is associated with IC engine cars and electric vehicles, as well as increasing the degree of freedom in vehicle interior design.
- The Asia-Pacific region accounted for the most significant global automotive adhesive tape market share, considering the increasing production and sales of electric vehicles and conventional automobiles.
