APAC Will Dominate Automotive Adhesives and Sealants Industry

The automotive adhesives and sealants market will reach around $11,644 million, with an around 6% CAGR by 2030. The major factors behind the growth of this industry are the snowballing requirement for lightweight vehicles and rising safety standards and regulations for vehicles.
Due to a surge in the per capita income of people, the demand for vehicles among consumers is growing rapidly around the world.

The increase in subsidies on electric vehicles and major improvements in safety standards are the main factors strengthening the sales and requirement for adhesives and sealants for long.
Based on type, the epoxy category held the largest market share in the recent past. The most notable property of epoxy adhesives are tight bonding, which helps in increasing the structural integrity of automobiles. Thus, with the growing requirement for vehicles, the need for epoxy adhesives and sealants will also rise in the future.

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In terms of vehicles, the passenger car category had the largest share in the recent past. This can be ascribed to the growing demand for passenger cars among people. Furthermore, the growing number of automotive services around the world are also propelling the demand for such cars, and eventually boosting the adhesives and sealants industry.

Based on application, the BIW category is expected to show the fastest growth in the coming years. This is because of the growing adoption of high-performance adhesion solutions, which helps in reducing the overall weight of automobiles and reduce the fuel consumption.

The APAC region, held the largest revenue share in the automotive adhesives and sealants market in the recent past. This can be credited to the increasing purchasing power, developing infrastructure, and the biggest reason is the shifting of production units to this region.
Furthermore, it is projected that the APAC will also show the fastest growth in coming years. As India and China are seeing a substantial growth in the demand and use of automotive adhesives and sealants in vehicles, increasing population in these countries.

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In the APAC region, the manufacturing and labor cost is very low compared to other regions, which eventually attract new investors to invest in this market and increase their business in the region.
Automobile manufactures are also using lightweight materials, like aluminium, and plastic composites. But these light materials cannot be bolted or welded like steel or cast-iron components. Adhesives and sealants are majorly used by manufacturers to join these lightweight materials together.

With the increase in the demand for lightweight vehicles, there is an increase in the use of automotive adhesives and sealants all around the world.

Browse more reports:

APAC Automotive Adhesives and Sealants Market - https://www.psmarketresearch.com/press-release/apac-automotive-adhesives-and-sealants-market

Germany Automotive Adhesives and Sealants Market - https://www.psmarketresearch.com/press-release/germany-automotive-adhesives-and-sealants-market

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