Market Dynamics
The automotive industry in Indonesia is one of the most important and fastest growing sectors in the country's economy. In 2018, the automotive tapes market in Indonesia is estimated to be worth over $2.5 billion, showing a steady growth over the past five years. The use of automotive tapes for car body works plays a significant role in the repair, maintenance and production of cars. In order to protect cars from corrosion, dust, and dirt, automotive companies have to rely on the use of tapes which provide a necessary seal against damaging elements. In the automotive tapes market in Indonesia, there are a number of players such as 3M Indonesia, Avery Dennison, Tesa Asia Pacific, Berli Distribusi, and Tesa Asia Pacific that are engaged in the production and distribution of automotive tapes. The use of superior quality automotive tapes helps to improve education levels, quality control, and ensures a strong backbone of the automotive industry which will observe continuous growth in coming years. The major players in the automotive tapes market are engaging in increasing their investments in expansion of production capacity and improving their market share.
In order to meet the ever-increasing demand of the automotive industry in Indonesia, these companies are investing heavily in research and development in order to develop new and innovative products that can cater to the specifications and requirements of the customer. Looking ahead, the increasing investments by global and domestic automotive companies in Indonesia is expected to further bolster the automotive tapes market. This will be further accentuated by the ever-growing demand for superior quality automotive tapes in order to prevent and protect cars from corrosion, dirt, and dust. This expected to continue the expected growth trend until 2032 in the automotive tapes market in Indonesia.
