Press release
Automotive Adhesives and Sealants Market To Touch USD 11,643.5 Million by 2030
The epoxy category dominated the industry in the past. The main quality of epoxy-based adhesives is its rigid bonding, aiding in enhancing the structural integrity of the vehicle. Hence, with the growing requirement for vehicles, the need for epoxy-based adhesives and sealants will increase in the near future.
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The passenger car had the largest share in the past, on the basis of vehicle. This is majorly credited to the growing need for passenger cars among people.
Furthermore, the increasing count of mobility services globally is also boosting the passenger car requirement, which ultimately propels the demand for adhesives and sealants.
The BIW category will grow the fastest, on the basis of application. This is mainly because of the growing popularity of high-performance adhesion solutions for BIW application of vehicles, helping in reducing the overall vehicle weight, thereby saving fuel.
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APAC had the largest share in the automotive adhesives and sealants market in the past, because of the increasing economic growth, emerging infra, snowballing purchasing power, and shifting facilities for production of adhesives and sealants from developed regions to the Asia Pacific.
Further, low manufacturing and cost of labor in these developing nations attract new players to invest in this rapidly growing market and develop their business. This will also power the regional industry.
Automotive manufacturers are making use of lightweight materials, such as composites, plastics, and aluminum. These are replacing the usage of steel in vehicle manufacturing. Though, different from steel or cast-iron components, lightweight materials can't be welded or bolted for holding them together. For maintaining the integrity of lightweight automobiles, adhesives and sealants are more and more used by manufacturers all over the world.
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