Global Automotive Adhesives Market was valued at USD 4.26 billion in 2021 and is expected to reach USD 5.35 billion by the year 2028, at a CAGR of 4%.
Automotive Adhesives are lightweight components used to bind metals, composites, plastic, and other materials. Adhesives are increasingly being deployed in the automotive industry for binding various vehicle components such as closures and structural modules. An increase in the adoption of adhesives among vehicle manufacturers reduces the mass of vehicles; increases front & rear lateral body stiffness; enhances crash performance; and minimizes noise, vibration, and harshness (NVH). In addition, adhesive bonding leads to the formation of new innovative vehicle body designs and mixed material designs consisting of high-strength steel, nonferrous metals, plastic, and composites. Furthermore, adhesives offer high bonding strength across diverse substrates. and can be used to attach dashboards, door panels, electronics, light covers, and lenses as well as steel and alloyed components.
The growth of the market is driven by rising in sales of automotive adhesives owing to underlying strength in vehicle sales, technological advancements in manufacturing of automobiles, and adoption of smart cars. Moreover, metallic components are replaced with composites to bond with adhesives, which results in a reduction in the weight of automobiles and an improvement in fuel efficiency. In addition, the deployment of adhesives has led to a reduction of noise, vibration, and harshness in vehicles, which fuels the automotive adhesives market growth. Furthermore, growth in demand for automotive adhesives in Asia-Pacific is expected to boost the market growth.
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The Major Players In The Automotive Adhesives Market Include:
3M Company, DuPont de Nemours Inc., Transtar Autobody Technologies Inc., Bondo Corporation, Arkema S.A., Bostik S.A., Ashland Global Holdings Inc., BASF SE, Bemis Associates Inc., Covestro AG, EMS-Chemie Holding AG, Permatex Inc., H.B. Fuller Company, Nitto Denko Corporation, Henkel AG & Co. KGaA, Huntsman Corporation, Illinois Tool Works Inc., Lord Corporation, Nippon Paint Co. Ltd., RPM International Inc., Royal Adhesives and Sealants, LLC,The Dow Chemical Company,ThreeBond Co. Ltd.,Wacker-Chemie AG,and others.
Market has segmented the global Automotive Adhesives market on the basis of type, application, and region:
The Automotive Adhesives market is segmented by type and application. Growth between segments over the period 2022-2028 provides accurate calculations and forecasts of revenue by type and application in terms of volume and value. This analysis can help you expand your business by targeting eligible niches.
Polyurethanes, Epoxy, Acrylics, Silicone, SMP, Polyamide, Others
Body in White, Power Train, Paint Shop, Assembly
By Regional Outlook (Revenue, USD Billion, 2017 – 2028)
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
- Middle East & Africa (GCC Countries, South Africa, Rest of MEA)
- South America (Brazil, Argentina, Rest of South America)
IMR offers a comprehensive overview of the market through the analysis of key parameters such as revenue, price, competition, and promotions, as well as the study, synthesis, and summarization of data from different sources. It analyzes the leading industry drivers and shows numerous market components. The information offered is thorough, dependable, and the result of a comprehensive primary and secondary study. IMR market research reports offer a comprehensive global market as well as an in-depth strategic sourcing methodology and analysis based on qualitative and quantitative research to anticipate market growth.
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Covid-19 Impact and Recovery Analysis on Industry:
The COVID-19 pandemic has had devastating effects on several industry verticals globally. To constrain the number of cases and slow the coronavirus spread, various public health guidelines were implemented in different countries across the globe. COVID-19 protocols ranging from declaring national emergency states, enforcing stay-at-home orders, closing nonessential business operations and schools, banning public gatherings, imposing curfews, distributing digital passes, and allowing police to restrict citizen movements within a country, as well as closing international borders. With the growing vaccination rate, governments are uplifting the protocols to give a boost to the stagnant economy. Like other industries, Automotive Adhesives Market have experienced slowdown the growth, however market is expected bounce back as restrictions are being lifted up by governments across the globe.
Key benefits for Stakeholders
- This report provides a detailed quantitative analysis of the current global automotive adhesives market trends and estimations from 2021 to 2028, which assists to identify the prevailing opportunities.
- An in-depth global automotive adhesives market analysis of various countries in this region is anticipated to provide a detailed understanding of the current trends to enable stakeholders to formulate specific plans.
- A comprehensive analysis of the factors that drive and restrain the growth of the global automotive adhesives market is provided.
- Region-wise and country-wise market conditions are comprehensively analyzed in this report.
- The projections in this report are made by analyzing the current trends and future market potential from 2021 to 2028 in terms of value and volume.
- An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
- Key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which helps to understand the competitive outlook of the global automotive adhesives market.
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