According to the latest report by IMARC Group, titled “Automotive Adhesives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global automotive adhesives market share. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global automotive adhesives market size reached a value of US$ 5.53 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 7.63 Billion by 2027, exhibiting a CAGR of 5.20% during 2022-2027.
Automotive adhesives are binding substances used to bond and seal different components of a vehicle, such as dashboards, door panels, light covers, armrests, lenses, chassis, headliners, and consoles. They are manufactured from propylene, epoxide, acrylics, polyester resins, vinyl acetate monomer, ethylene, amine-based resins, and synthetic materials. Their commonly available variants include solvent-based, water-based, and hot melt variants that contain volatile organic compounds (VOCs). They help improve cohesive strength and corrosion resistance, reduce drying time, ease automation, and ensure strong bonds. In recent years, automotive adhesives have gained immense traction as they assist in enhancing front and rear lateral body stiffness, lowering noise and vibration, decreasing vehicle mass, and improving crash performance.
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Automotive Adhesives Market Trends and Drivers:
The global automotive adhesives market is primarily driven by rapid growth in the automotive industry. Moreover, the increasing adoption of electric vehicles (EVs) due to the rising environmental consciousness is positively influencing market growth.
Additionally, numerous product innovations, such as the formulation of biodegradable automotive adhesives manufactured using sustainable materials that help reduce the emission of harmful chemicals, have augmented product demand. Besides this, the increasing use of polyurethane resin in the production of automotive adhesives and sealants to improve the durability, scratch resistance, and corrosion resistance of vehicles has catalyzed market growth.
Other factors, including favorable government initiatives, escalating demand for lightweight vehicles, and the introduction of high-performance adhesive tapes, are also anticipated to create a positive market outlook.
Global Automotive Adhesives Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Automotive Adhesives Companies:
3M Company, Avery Dennison Corporation, BASF SE, Bostik SA (Arkema S.A.), Covestro AG, Dow Inc., DuPont de Nemours Inc., H.B. Fuller Company, Henkel AG & Co. KGaA, Huntsman Corporation, Illinois Tool Works Inc., Nitto Denko Corporation, PPG Industries Inc., Sika AG and Solvay S.A.
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The report has segmented the market on the basis of region, technology, resin type, vehicle type and application.
Breakup by Technology:
- Hot Melt
- Solvent Based
- Water Based
- Pressure Sensitive
- Others
Breakup by Resin Type:
- Polyurethane
- Epoxy
- Acrylic
- Silicone
- SMP
- Polyamide
- Others
Breakup by Vehicle Type:
- Passenger Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Breakup by Application:
- Body in White (BIW)
- Powertrain
- Paint Shop
- Assembly
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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