Global Automotive Adhesives Market Size, Share, Growth, Industry Trends and Forecast 2020-2030

Adhesives are plant-based cellulosic derivatives which when processed chemically to create glues. The mixture of natural rubber and additives such as resins and other chemicals is heated to form rubber glue, effective adhesion while joining different materials and also it imparts high-temperature resistance. These adhesives also help to reduce vehicle weight. Structural adhesives such as Acrylics, Epoxy, Polyurethanes, etc. are significantly strong adhesives that it bears stresses and it has several structural applications. These adhesives have several automobile industry applications such as joining the cabins, window glass, LED lighting and interior design of vehicles. The market global automotive adhesives market held USD 8.6 billion in 2020 and is predicted to reach USD 14.9 billion by 2030, at a CAGR of 5.30%, during the forecast period. This market is expected to grow at a moderate rate due to the slowdown in demand in the automotive industry and the high adoption of automotive adhesives. Automobile adhesives have properties such as high-stress bearing (useful for load-bearing joints, excellent performance against mechanical stresses and weight reduction capability. It also has properties such as body stiffness, enhanced crash performance, durability and resistance against impact, fatigue, heat, and solvents. Due to high elongation and strong bonding properties, polyurethanes adhesives are highly demanded which is widely used for bonding windscreens, side & rear windows of passenger cars, special vehicles and trucks. Moreover, the usage of these adhesives also avoids the entry of water, dirt & salt in the shell of the car body. Additionally, it helps in increased fuel efficiency and performance of the vehicle.
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Market Dynamics and Factors:
Strong vehicle sales, rising demand for crossover & sports utility vehicles, high adoption of smart cars, technological advancement in the automobile sector are the major growth drivers for the global automotive adhesives market. Also, stricter regulations stimulate vehicle weight reduction, improvised fuel efficiency and performance are factors for market growth. Slow down in the automotive industry across the globe due to the Adoption of the Paris Climate Change Agreement by United Nations coupled with stringent regulations in the adhesives market has hampered the market growth. Technological advancement in automobile adhesives and rising demand for adhesives in the automotive sector in the emerging economies bring in opportunities for market growth. Manufacturers need to keep track of technological advancement in the adhesives market.
Market Segmentation:
Global Automotive Adhesives Market – By Product
Epoxy
Acrylic
PVA
Silicones
Polyurethanes
others
Global Automotive Adhesives Market – By Application
Exterior
Interior
Electronics
Global Automotive Adhesives Market – By Function
Bonding
NVH
Sealing
Global Automotive Adhesives Market – By Industry
Body-in-White
Paint shop
Powertrain
Assembly
Global Automotive Adhesives Market – By Vehicle Type
Passenger car
LCV
Truck
Bus
Others
Global Automotive Adhesives Market – By Technology
Hotmelt
Solvent based
Water—based
Pressure sensitive
Thermosetting
Reactive
Global Automotive Adhesives Market – By Geography
North America
U.S.
Canada
Mexico
Europe
U.K.
France
Germany
Italy
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia Pacific
ROW
Latin America
Middle East
Africa
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Geographic Analysis:
North America continues to be the dominant region in this market, due to rebound in the US market and expansion of the Mexican Market which is driving the market growth at a significantly high pace. Also, Lower prices of feedstocks such as the boom of shale gas which helped in manufacturer profit margin. In APAC, the usage of infotainment systems, high usage of sensors and body panels and higher usage of adhesives has increased the demand for adhesives in the automotive sector which comes after the maturity of the EU & NA market. APAC is anticipated to be accounted for 60% of global passenger car production by 2025 and is also the largest passenger car market. It also is the largest and predicted to be the fastest-growing automotive adhesives market due to economies in the market. This region encapsulates a variable range of economies which are at the different economic development stage and developing multiple industries. With China, a leading automotive adhesives consumer & producer, developing economies such as India & China, production base shifting to APAC (because of saturation in Europe & North America market) which are the factors to drive the market growth in the APAC region.
Competitive Scenario:
These are the key players in the global automotive adhesives market such as Henkel & Co. KGaA, Bostik S.A, ExxonMobil Chemical Company, The 3M Company, The DOW Chemical Company Sika AG, PPG Industries Inc., Dynea International Oy., Illinois Tool Works Corporation, Jowat AG, Solvay S.A., BASF SE, Ashland Specialty Chemical Company, H.B. Fuller Company, Covalence Speciality Adhesives LLC, Hindustan Adhesives Limited, Forbo Adhesives Switzerland, Hexion Specialty Chemicals.
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How will this Market Intelligence Report Benefit You?
The report offers statistical data in terms of value (US$) as well as Volume (units) till 2030.
Exclusive insight into the key trends affecting the Global Automotive Adhesives industry, although key threats, opportunities and disruptive technologies that could shape the Global Automotive Adhesives Market supply and demand.
The report tracks the leading market players that will shape and impact the Global Automotive Adhesives Market most.
The data analysis present in the Global Automotive Adhesives Market report is based on the combination of both primary and secondary resources.
The report helps you to understand the real effects of key market drivers or retainers on Global Automotive Adhesives Market business.
The 2021 Annual Global Automotive Adhesives Market offers:
100+ charts exploring and analysing the Global Automotive Adhesives Market from critical angles including retail forecasts, consumer demand, production and more
15+ profiles of top producing states, with highlights of market conditions and retail trends
Regulatory outlook, best practices, and future considerations for manufacturers and industry players seeking to meet consumer demand
Benchmark wholesale prices, market position, plus prices for raw materials involved in Global Automotive Adhesives Market type
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