Global Electric Vehicle Adhesives Market Size To Surpass USD 894.70 Billion By 2028 | CAGR of 23.4 %. Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook | IMR

Market Overview:
Global Electric Vehicle Adhesives Market was valued at USD 205.34 Million in 2021 and is expected to reach USD 894.70 Million by the year 2028, at a CAGR of 23.4%

Vehicle manufacturers have announced increasingly ambitious plans for electrification, with 18 out of the top 20 major players, accounting for over 90% of new car registrations in 2020, expressing their intentions to expand their range of models and ramp up production of light-duty electric vehicles. The growth of electric cars has been driven by significant policy changes implemented by various economies to promote electric mobility. These changes include the introduction of stricter emission standards, incentives for electric vehicles (EVs), and investments in the EV industry value chain to achieve price parity between EVs and internal combustion engine (ICE) vehicles.

Players Covered in Electric Vehicle Adhesives Market are:
• 3M Company
• Dupont (Dow Chemical)
• Ashland
• Weicon GmbH & Co. KG
• Avery Dennison
• Bostik S.A. (An Arkema Company)
• Dymax Corporation
• Evonik Industries AG
• H.B. Fuller
• Henkel
• Illinois Tool Works Corporation
• Jowat SE
• L&L Products
• Lord Corporation
• Delo Industries Klebstoffe GmbH & Co. KGaA
• Metlok Private Limited.

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Market Dynamics:

Driver:
The increasing preference for supporting environmentally-friendly vehicles is a significant driver behind the demand for electric vehicle adhesives. As more individuals and organizations prioritize sustainability and seek to reduce their carbon footprint, there is a growing inclination towards electric vehicles (EVs) due to their lower emissions and environmental impact compared to traditional internal combustion engine (ICE) vehicles. Electric vehicle adhesives play a crucial role in the manufacturing and assembly of EVs, providing numerous benefits that contribute to their environmental friendliness. These adhesives offer advantages such as lightweight properties, stress distribution capabilities, etc.

Opportunities:
The large-scale adoption of commercial electric vehicles by corporations presents a significant opportunity for reducing carbon emissions. As corporations strive to meet sustainability goals and reduce their environmental impact, transitioning their fleets to electric vehicles can play a crucial role in achieving these objectives. By replacing traditional gasoline or diesel-powered commercial vehicles with electric alternatives, corporations can significantly reduce carbon emissions associated with transportation. Electric vehicles produce zero tailpipe emissions, meaning they do not release harmful pollutants such as carbon dioxide (CO2) or other greenhouse gases during operation.

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Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis.

Market Segmentation
Segmentation Analysis of Electric Vehicle Adhesives Market:
Based on vehicle type, the electric vehicle adhesives market has been segmented into battery electric vehicles (BEV) and plug-in hybrid electric vehicles (PHEV).
Based on the application, Pack and module bonding segments are expected to dominate the electric vehicle adhesives market during the forecast period.

By Type
• Plug-in Hybrid Electric Vehicle (PHEV)
• Battery Electric Vehicle (BEV)

By Application
• Pack & Module Bonding
• Thermal Interface Bonding
• Battery Cell Encapsulation
• Other

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Regional Analysis of Electric Vehicle Adhesives Market:
Asia Pacific region is expected to dominate the electric vehicle adhesives market over the forecast period. In recent years, the electric vehicle industry over the Asia Pacific region has experienced massive expansion. This is featured by the region being registered for the maximum share of battery electric vehicle sales globally. In addition, Asia Pacific has been experiencing major growth than its western competitors with its electric vehicle sales.

By Region
• North America (U.S., Canada, Mexico)
• Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
• Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
• Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
• South America (Brazil, Argentina, Rest of SA)

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