Automotive Adhesives Market Is Seeing Explosive Growth By future Industry Winners: Henkel & Co. KGaA, Bostik S.A., 3M Company, The DOW Chemical Company, Sika AG, H.B. Fuller, PPG Industries, Illinois Tool Works Corporation, and Others

Global Automotive Adhesives Market was valued at $3,771 million in 2016, and is expected to reach $5,459 million by 2023, registering a CAGR of 5.4% from 2017 to 2023.

The growth if the market is driven by rise in sales of automotive adhesives owing 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 reduction of weight of automobiles and improvement in fuel efficiency. In addition, the deployment of adhesives has led to reduction of noise, vibration, and harshness vehicles, which fuels the market growth. Furthermore, growth in demand for automotive adhesives in Asia-Pacific is expected to boost the market growth.

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Adhesives are lightweight components used to bind composites and lightweight materials. The use of adhesives in automotive manufacturing processes offers the designer additional possibilities to exploit new, innovative design and manufacturing concepts. Adhesives are particularly popular for lightweight constructions, where thin-walled parts are joint. In addition, adhesive bonding allows combining different types of materials such as aluminum with other metals, plastics, and composites, which otherwise are not reliably joint or would require additional measures to avoid galvanic corrosion effects.

Presently, the global automotive adhesives market is witnessing significant growth, owing to increase in demand for lightweight and low carbon emitting vehicles. Moreover, rise in use of aluminum in automobile manufacturing to reduce the weight of automobiles fuels the adoption of automobile adhesives. In addition, increase in use of plastics and composite materials in the process to manufacture smart vehicles based on sustainable adhesives in developing economies is another factor that boosts the market growth. High economic growth rate and the increase in demand from end-use industry is further supplement the growth of the market.

The polyurethane resin type segment accounted for one-third of the total market share, in terms of volume, in 2016. Moreover, this segment witnesses strong demand in countries such as Brazil, China, and Japan, owing to its superior properties such as bonding on different surfaces, UV & heat stability, rapid curing, superior chemical resistance, and enhanced optical clarity. Furthermore, these adhesives are increasingly utilized for the repair and maintenance work in automobiles. In addition, these are majorly used where there is requirement for higher efficiency at low operating costs.

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In 2016, Asia-Pacific accounted for nearly half of the total automotive adhesives market, and is expected to continue this trend, owing to rapid growth of automotive industry, specifically in China, India, Japan, and other developing countries.

The major companies profiled in the report include Henkel & Co. KGaA, Bostik S.A., 3M Company, The DOW Chemical Company, Sika AG, H.B. Fuller, PPG Industries, Illinois Tool Works Corporation, Jowat AG, and Solvay S.A.

Table Of Content

Chapter: 1. INTRODUCTION
1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENT
1.4. RESEARCH METHODOLOGY
1.4.1. Secondary Research
1.4.2. Primary Research
1.4.3. Analyst Tool & Model

Chapter: 2. EXECUTIVE SUMMARY
2.1. MARKET SNAPSHOT
2.2. CXO PERSPECTIVES

Chapter: 3. MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top Investment Pockets
3.2.2. Top winning strategies
3.3. PORTER’S FIVE FORCES ANALYSIS
3.4. MARKET DYNAMICS
3.4.1. Drivers
3.4.1.1. Deployment of adhesives leading to reduction of noise, vibration and harshness properties of vehicles
3.4.1.2. Growing demand of automotive adhesives among Asia-Pacific
3.4.1.3. Technological advancements in manufacturing of automobiles
3.4.2. Restraints
3.4.2.1. Effect of recession on end-use industries
3.4.2.2. Rise in raw material prices
3.4.3. Opportunity
3.4.3.1. Growing Demand for Low VOC, Green, and Sustainable Adhesives
3.5. MARKET SHARE ANALYSIS, 2016 (%)

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