Automotive Adhesives and Sealants Market Key Players | Fuller Company, BASF SE, Bostik , DowDuPont and Sika AG

Key Highlights:
• The global Automotive Adhesives and Sealants Market size was valued at USD 11.78billion in 2022 growing at a CAGR of 6.1% from 2023 to 2033.
• North America dominated the market in 2022
• Asia Pacific is expected to grow at the highest CAGR from 2023 to 2033

As per the study initiated by Evolve Business Intelligence, the global Automotive Adhesives and Sealants Market size accounted for USD 11.78Billion in 2022, growing at a CAGR of 6.1% from 2023 to 2033. The Automotive Adhesives and Sealants Market refers to the industry that produces and supplies adhesive and sealant products specifically designed for use in the automotive sector. Adhesives are substances used to bond two or more surfaces together, providing structural integrity and enhancing the overall strength of assembled components. Sealants are materials used to seal gaps, joints, or seams, preventing the passage of fluids, gases, or other substances.

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The Automotive Adhesives and Sealants Market is primarily driven by the increasing Demand for Lightweight Vehicles. The automotive industry is shifting towards lightweight vehicles to improve fuel efficiency and reduce emissions. Adhesives and sealants play a crucial role in lightweighting vehicles by allowing for stronger, lighter, and more durable joints compared to traditional welding
and mechanical fasteners.

Key Players
Some of the major Automotive Adhesives and Sealants Market players holding high market shares include Henkel & Co. KGaA, H.B. Fuller Company, BASF SE, Bostik , DowDuPont and Sika AG. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders. Some of the other major market players include PPG Industries, Solvay S.A, Jowat AG and Akzo Nobel N.V.

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Segmental Analysis
Based on Vehicle Type, the Automotive Adhesives and Sealants Market is segmented into Passenger Vehicle, Light Commercial Vehicle and Heavy Commercial Vehicle. Passenger vehicles segment dominates the global automotive adhesives market. Passenger vehicles are the most common mode of conveyance in the developed countries and they are increasing in the developing countries as well due to increasing per capita income. The emerging vehicle financing has been encouraging the passenger vehicles industry wherein the customers are provided loans to own the vehicle.
Based on Application, the Automotive Adhesives and Sealants Market is segmented into Paint shop, Assembly, Body in White, UTH & Power Train, and others. The amount of adhesive used in the automotive assembly industry has increased due to developments in automobiles such as the increased use of sensors, infotainment systems, and body panels.

Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Spain, Russia, Nordic Countries, BeNeLux, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Rest of Asia Pacific)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, South Africa, Rest of MEA)
• Latin America (Mexico, Brazil, Argentina, Rest of Latin America)

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