Impact Assessment of COVID-19 Outbreak on Electric Vehicle Adhesives Market

Electric Vehicle Adhesives Market: Introduction

The global electric vehicle adhesives market was valued at US$ 261.3 Mn in 2018 and is anticipated to expand at a CAGR of ~32% during the forecast period. Asia Pacific has become the hub of the automotive industry over the last few years. Increase in demand for electric vehicles in emerging countries such as China and India is driving the automobile industry in the region. This is boosting the demand for electric vehicle adhesives. Strong government support and ad-hoc tax incentives have led to robust double-digit sales growth in automotive and electric vehicle industries in China. Rise in demand for small and battery-based efficient passenger vehicles in countries such as Thailand, Malaysia, and Indonesia is also anticipated to propel the automobile sector. This, in turn, is projected to augment the electric vehicle adhesives market.

Request For Sample:https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=74206

Key Drivers of Electric Vehicle Adhesives Market

Rise in production of electric vehicles can be ascribed to the increase in number of regulation on emission of carbon dioxide in the wake of growing global warming. This has led to an increase in global production of electric vehicles. For instance, in 2016, Norway proposed a ban on cars using fossil fuel and prohibition on the sale of all petrol and diesel vehicles by 2025. The country also launched a new tax system called ‘polluter pays’ in order to prevent the sale of new petrol or diesel cars. Increase in the number of regulations and rise in initiatives to boost the sale of electric vehicles are anticipated to propel the demand for electric vehicle adhesives in the near future.

Buy Now : https://www.transparencymarketresearch.com/checkout.php?rep_id=74206<ype=S

According to the European Association of Motorcycle Manufacturers (ACEM), the registration of electric mopeds, motorcycles, and quadricycles reached 14,251 units in the first three months of 2019 in Europe, an increase of 71.2% compared to that in the first three months of 2018. These factors are expected to drive the demand for electric vehicle adhesives in the near future. Electric vehicle adhesives are used to join components and shielding them from shocks and vibrations. Thus, electric vehicle adhesives are ideal materials for body construction, paint, and vehicle assembly of hybrid and battery electric vehicles. Electric vehicle adhesives also help lower the weight of the overall body of the electric vehicle in order to enhance the bonding of non-traditional or dissimilar materials such as lightweight composite tailgates for SUVs.

Explore Transparency Market Research’s award-winning coverage of the global Industry:
https://www.prnewswire.com/news-releases/increasing-preference-towards-high-protein-diet-that-is-ready-to-go-is-fueling-growth-of-global-meat-extract-market-valuation-to-reach-us-2-5-bn-by-2029--transparency-market-research-301003674.html

Top Six Players Account for Major Share of Electric Vehicle Adhesives Market

The global electrical vehicle adhesives market is highly fragmented, with the presence of large numbers of small players. Currently, the global electrical vehicle adhesives market is expanding at a steady pace. Key players are largely focusing on research and development activities. The top six players -3M, Henkel AG & Company KGaA, H.B. Fuller, DuPont de Nemours, Sika AG, and PPG Industries, Inc. - cumulatively accounted for more than 40% share of the global market in 2018. 3M constituted the leading share of the global electric vehicle adhesives market in 2018.

Contact Us

Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

About Us:

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

This release was published on openPR.