Automotive Adhesives and Sealants Market Valued at USD 7.8 Billion in 2020, Projected to Grow at 4.5% CAGR Through 2027

The Automotive Adhesives And Sealants Market size was valued at USD 7.8 billion in 2020 and is projected to reach USD 10.7 billion by 2027, growing at a CAGR of 4.5% from 2021 to 2027.

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Automotive adhesives and sealants are used in the automotive industry to bond and seal various components and parts of vehicles. These materials are essential for improving the structural integrity and durability of automotive assemblies, as well as reducing noise, vibration, and harshness (NVH) levels.

Automotive adhesives and sealants are used to join and seal various parts of vehicles, such as body panels, interior trims, and windshields. These adhesives and sealants provide high strength, durability, and resistance to environmental factors. The global automotive adhesives and sealants market is expected to grow significantly in the coming years, driven by the increasing demand for lightweight and fuel-efficient vehicles.

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The increasing demand for lightweight and fuel-efficient vehicles, along with the growing adoption of electric and hybrid vehicles, is expected to drive the growth of the automotive adhesives and sealants market. Adhesives and sealants are increasingly used in place of traditional fastening methods, such as welding and riveting, to reduce weight and improve fuel efficiency. In addition, the rising demand for electric and hybrid vehicles, which require specialized adhesives and sealants for battery and powertrain assembly, is also expected to contribute to the growth of the market.

Market Dynamics:
The global automotive adhesives and sealants market is driven by the growing demand for lightweight vehicles, which require adhesives and sealants to join and seal various components. Additionally, the increasing use of adhesives and sealants in electric vehicles, which require improved thermal management, is further driving market growth. Moreover, the strict regulations related to emissions and fuel efficiency are also expected to boost market growth. However, the volatility of raw material prices and the availability of alternatives, such as mechanical fasteners, may hinder market growth.

Competitive Landscape:
The global automotive adhesives and sealants market is highly competitive, with the presence of several global and regional players. The major players operating in the market include 3M, Henkel AG & Co. KGaA, PPG Industries, Inc., BASF SE, The Dow Chemical Company, Jowat SE, Permabond LLC, Hernon Manufacturing Inc., Evonik Industries AG, Delo

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Market Segmentation:
Based on resin type, the market is segmented into epoxy, acrylic, polyurethane, silicone, and others. Based on application, the market is segmented into body in white (BIW), powertrain, paint shop, and assembly. Based on vehicle type, the market is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles.

Regional Analysis:
Asia Pacific is expected to dominate the global automotive adhesives and sealants market during the forecast period, owing to the presence of major automotive manufacturers in the region and the increasing demand for lightweight vehicles. China and India are the major consumers of automotive adhesives and sealants in the region. North America and Europe are also significant markets for automotive adhesives and sealants, owing to the presence of major automotive manufacturers and the increasing demand for electric vehicles.

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Recent News:
• In December 2020, 3M announced that it had developed a new automotive adhesive, called 3M Hi-Tack Composite Spray Adhesive, which is designed to bond lightweight materials commonly used in automotive manufacturing, such as carbon fiber, aluminum, and magnesium.
• In February 2021, Henkel announced that it had expanded its range of automotive adhesives and sealants with the launch of a new product, Loctite AA 5820. The new adhesive is designed to provide high-strength bonding for metal and plastic components in automotive assembly.
• In March 2021, Sika AG announced that it had acquired the automotive adhesives and sealants business of Adeplast SA, a Romanian manufacturer of construction materials. The acquisition will strengthen Sika's position in the growing Eastern European market for automotive adhesives and sealants.

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