Global Automotive Adhesives & Sealants Market: Market Segments: By Type (Epoxy, Acrylics, Polyurethanes, Rubber, Polyvinylchloride, Silicones, Hot Melts & Others); By Application (Body In White, Under-The-Hood and Power Train, Paint Shop, Assembly); By Vehicle (Passenger Cars, Light Commercial Vehicle, Heavy and Medium Commercial Vehicle); and Region – Analysis of Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030
Adhesives are used for the application of bonding and heat and corrosion resistance functions in the automotive industry. In order to connect a variety of automotive parts, such as windshields and wire harnesses, high-performance adhesives are used. In addition to contributing to vehicle longevity and strength, automotive sealants play an important role in providing the vehicle with protection and comfort.
Global Automotive Adhesives & Sealants Market is expected to project a notable CAGR of XX.X% in 2030.
Global Automotive Adhesives & Sealants Market to surpass USD XXXX million by 2030 from USD XXXX million in 2018 at a CAGR of XX% throughout the forecast period, i.e. 2019-30. Primary drivers of market growth include the need to manage natural resources, infrastructure and services and to develop information systems for government agencies and businesses.
Global Automotive Adhesives & Sealants Market: Segments
Epoxy Adhesives Segment to grow with the highest CAGR of XX.X% during 2019-30
Global Automotive Adhesives & Sealants Market is segmented by Type into Epoxy, Acrylics, Polyurethanes, Rubber, Polyvinylchloride, Silicones, Hot Melts and Others. The greater market share in 2019 by Epoxy segment in automotive adhesives and sealants market which can be ascribed to the increased bonding strength of these adhesives. In the coming years, demand for epoxy-based adhesives is expected to increase further as they help boost the structural integrity of automobiles. The rising consumption of high-performance adhesives and sealants to reduce the weight of vehicles is also increasing. In addition, because lightweight vehicles have increased fuel efficiency, they help owners minimize running costs.
Global Automotive Adhesives & Sealants Market: Market Dynamics
Stringent Vehicle Safety Standards and Regulations
In these applications, the increasingly growing demand for adhesives and sealants is due to the rising popularity of high-performance vehicle adhesion solutions, as they help to reduce overall weight. As a result, the use of automotive adhesives and sealants is expected to experience an increase in demand, driving the market for automotive adhesives and sealants.
Fluctuating cost of raw materials
Petrochemical derivatives are the majority of raw materials employed in adhesives & sealants. In April 2020, due to the COVID-19 pandemic, global crude oil prices fell drastically due to a sudden halt in demand for oil & natural gas and reduced travel around the world. In the past few years, overdependence on primary petrochemical derivatives has led to considerable market instability.
Global Automotive Adhesives & Sealants Market: Regions
Global Automotive Adhesives & Sealants Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC and MENA.
Global Automotive Adhesives & Sealants Market in Asia Pacific held the largest market share of XX.X% in the year 2019 owing to increasing automotive production along with the advancement of adhesives in the automotive sector. Emerging economies such as India and China are estimated to offer significant growth opportunities owing to manufacturers are focusing to produce eco-friendly and fast curing adhesives from bio-based and renewable resources, which is anticipated to fuel industry growth. Moreover, growing urbanization, along with widespread use of sealants & adhesives in automotive applications, such as in gaskets placing, sealing of core plugs, and bonding of automotive hose, is expected to trigger demand over the coming years.
Key Developments in the Market:
• In May 2017, using the patented hybrid technologies, Henkel added four new adhesives in its LOCTITE’s automotive bonding range. LOCTITE HY 4090, LOCTITE HY 4080, LOCTITE HY 4070, and LOCTITE HY 4060 GY. These adhesives are expected to meet the rising demands in assembly design and maintenance repair applications.
Global Automotive Adhesives & Sealants Market: Key Players
• Henkel AG & Co. KGaA.
o Company Overview
o Business Strategy
o Key Product Offerings
o Financial Performance
o Key Performance Indicators
o Risk Analysis
o Recent Development
o Regional Presence
o SWOT Analysis
• DowDuPont Inc.
• Sika AG
• PPG Industries Inc.
• 3M Company
• H.B. Fuller Company
• Bostik SA
• Illinois Tool Works Inc.
• EFTEC AG
• Evonik Industries
• DSM Inc.
• Avery Dennison
• AkzoNobel N.V.
• Franklin Adhesives & Polymers
Global Automotive Adhesives & Sealants Market report also contains analysis on:
Global Automotive Adhesives & Sealants Market:
• Hot melts
• UTH and power train
• Paint shop
• Passenger Cars
• Automotive Adhesives & Sealants Market Dynamics
• Automotive Adhesives & Sealants Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints