Press release
Automotive Adhesives and Sealants Market Size, Share, Trends and Growth Forecast to 2023 | Top Players are Henkel AG & Co. KGaA, DowDuPont Inc., Sika AG, PPG Industries Inc., 3M Company, H.B. Fuller Company, Permatex, Bostik SA, Illinois Tool Works Inc.,
In 2017, the global automotive adhesives and sealants market generated $8,413.7 million and is expected to attain $11,871.6 million in 2023, registering a 6.0% CAGR during the forecast period (2018-2023). The various factor driving the growth of the market are rising production of vehicles around the world, surging demand for lightweight vehicles, and vehicle safety and regulations. Automotive adhesives and sealants are utilized for different sealing and bonding applications in the automotive industry. These materials help in improving driving comfort, reliability, safety, and performance of vehicles.Get a sample copy of the market report: https://www.psmarketresearch.com/market-analysis/global-automotive-adhesive-and-sealant-market/report-sample
When application is taken into consideration, the automotive adhesives and sealants market is divided into under-the-hood (UTH) and power train, assembly, body in white (BIW), and paint shop. Out of these, the BIW application accounted for the major share of the market during the historical period, with a volume share of more than 32.0% in 2017. The reason for this is the rising popularity of high-performance adhesion solutions, as they help in decreasing the overall weight of the vehicle, which further leads to less fuel consumption. The division is bifurcated into non-structural and structural applications.
A major driving factor of the automotive adhesives and sealants market is the rising requirement for lightweight vehicles. In order to maximize the speed and power of the vehicle, manufacturers are looking for new ways for creating lightweight vehicles. The manufacturers have started making use of lightweight materials including composites, plastic, and aluminum. However, these materials can't be welded or bolted, which is why adhesives and sealants are used for maintaining the integrity of lightweight vehicles. The application of adhesives and sealants in automotive industry is wide, ranging from small sensors to the chassis of vehicles.
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Another primary factor leading to the growth of the automotive adhesives and sealants market is the growing production of vehicles around the world. As per the European Automobile Manufacturers Association, more than 80 million passenger cars were produced worldwide in 2017. In addition, approximately 18.4 million commercial vehicles were manufactured across the globe in 2016. This surging production of vehicles is resulting in the increased usage of adhesives and sealants. Moreover, the evolving construction methods are projected to drive the demand for automotive adhesives and sealants in the coming years.
Automotive adhesives and sealants market competitive landscape
Some of the major players operating in the global automotive adhesives and sealants market are Henkel AG & Co. KGaA, DowDuPont Inc., Sika AG, PPG Industries Inc., 3M Company, H.B. Fuller Company, Permatex, Bostik SA, Illinois Tool Works Inc., EFTEC AG.
GLOBAL AUTOMOTIVE ADHESIVES AND SEALANTS MARKET SEGMENTATION
By Type
Epoxy
Acrylics
Polyurethanes
Rubber
PVC
Silicones
Hot Melts
By Application
BIW
UTH and Power Train
Paint Shop
Assembly
By Region
North America
U.S.
Canada
Europe
Germany
Spain
France
U.K.
Russia
Italy
Czech Republic
Rest of Europe
APAC
China
Japan
South Korea
India
Thailand
Indonesia
Rest of APAC
Latin America (LATAM)
Brazil
Mexico
Argentina
Rest of LATAM
Middle-East and Africa (MEA)
Saudi Arabia
South Africa
Rest of MEA
Contact:
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Email: enquiry@psmarketresearch.com
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About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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