Press release
Accelerating Growth in the Automotive Adhesives Market: Driven by Increasing Demand for Lightweight and Low-Carbon-Emitting Vehicles || Henkel AG & Co. KGaA, Arkema S.A., 3M Company, DuPont de Nemours, Inc
Automotive Adhesives Market
The Business Research Company's Automotive Adhesives Global Market Report 2023 identifies the rise in demand for lightweight, low-carbon emitting vehicles is the major driver for the automotive adhesives market's growth in the forecast period. With the implementation of stricter emissions laws as a result of increased exhaust emissions, automobile manufacturers are focusing on producing lightweight automobiles to reduce CO2 emissions. Automotive adhesives are used to replace nuts and bolts, rivets, welding, and more to make vehicles lighter and tougher, which improves fuel economy and emissions.
The global automotive adhesives market size grew from $5.14 billion in 2022 to $5.49 billion in 2023 at a compound annual growth rate (CAGR) of 6.8% . The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the automotive adhesives is expected to grow to $7.13 billion in 2027 at a CAGR of 6.7%.
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Major competitors in the automotive adhesives market are Henkel AG & Co. KGaA, Arkema S.A., 3M Company, DuPont de Nemours, Inc., H.B. Fuller Company, Sika AG, Huntsman Corporation, The DOW Chemical Company, Jowat SE, Hexion Speciality Chemicals, Covalence Adhesives, Solvay S.A., Bayer AG.
A key trend in the automotive adhesives market includes the launch of new adhesives. New product launches increase the product portfolio of a manufacturer and help boost market share. For instance, in August 2020, Bostik, a leading global adhesive specialist for industrial, construction, and consumer markets, launched a new, innovative water-based adhesive, Aquagrip® 3720, for automotive interior assembly applications, which is used for bonding low-surface, rigid substrates to closed-cell foam and foam-backed materials. In October 2021, Arkema launched a new range of high-performance anaerobic adhesives. This adhesive provides engineers with cost-effective and convenient alternatives to commonly used mechanical fastening solutions such as washers, gaskets, pins, hemp, and tapes.
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The automotive adhesives market is segmented -
1) By Adhesive Type: Structural, Tapes and Films, Threadlocks and Retainers, Liquid Gaskets
2) By Vehicle Type: Passenger cars, LCVs, Trucks, Buses, Aftermarket
3) By Resin Type: Polyurethane, Epoxy, Acrylics, Silicone, SMP, MMA, and Other Resin Types
4) By Application: BIW, Glazing, Powertrain, Paint Shops, Upholstery
5) By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the automotive adhesives market.
The Business Research Company's "Global Automotive Adhesives Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Automotive Adhesives Market Include:
1. Executive Summary
2. Automotive Adhesives Market Characteristic
3. Automotive Adhesives Market Trends And Strategies
4. Automotive Adhesives Market - Macro Economic Scenario
5. Automotive Adhesives Market Size And Growth
……………
27. Automotive Adhesives Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Adhesives Market
29. Automotive Adhesives Market Future Outlook And Potential Analysis
30. Appendix
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