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Automotive Adhesives and Sealants Market To Generate $12,646.8 Million Revenue by 2030
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Additionally, increasing implementation of stringent vehicle safety norms and regulations will facilitate the automotive adhesives and sealants market during the forecast period. The escalating awareness among customers regarding vehicle safety will boost the usage of adhesives and sealants, as they offer strength to automobile components. These adhesives can also absorb the impact of head-on collisions during accidents. Mastics are rubber compounds that are used during the body in white (BIW) stage, in non-structural application areas, to fill the vacuum in an automobile to aid in shock absorption, thus, resulting in enhanced safety.
Globally, the Asia-Pacific (APAC) region generated the highest revenue for the automotive adhesives and sealants market in 2019. This is due to the rapid economic growth, robust development in urban infrastructure, and high purchasing power of middle-class population of the region. Additionally, automakers of APAC countries are making huge investments to increase their production capacities, due to the easy availability of cheap labor and raw materials, thereby, driving the regional market growth.
Browse full report at: https://www.psmarketresearch.com/market-analysis/global-automotive-adhesive-and-sealant-market
Furthermore, the APAC market will witness the fastest growth during the forecast period. This can be attributed to the rising sales of automobiles in the region, on account of improving gross domestic product (GDP) and escalating per capita income. Recent developments in adhesive technologies are encouraging automakers to increase the manufacturing of fuel-efficient and lightweight vehicles. Besides, magnifying focus on reducing carbon emissions and improving fuel economy will give impetus to the market in APAC. These can be achieved through lightweight vehicles that use high-volume of adhesives and sealants.
Thus, the burgeoning demand for lightweight vehicles and the amplifying customer awareness about reducing carbon emissions and enhancing fuel economy will propel market growth in the coming years.
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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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