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Automotive Adhesives Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Automotive Adhesives Market
The Business Research Company offers in-depth market insights through Automotive Adhesives Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The automotive adhesives market size has grown strongly in recent years. It will grow from $5.36 billion in 2023 to $5.72 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to strong economic growth in emerging markets, growth in world population, government support for the automobile industry, growing preference towards enhanced user comfort, safety and convenience and increasing focus on light weighting (vehicle weignt reduction).
The automotive adhesives market size is expected to see strong growth in the next few years. It will grow to $7.49 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to global population growth and urbanization, rapid growth in ecommerce, favorable government initiatives and focus on electric vehicles (evs). Major trends in the forecast period include focusing on eco-friendly automotive adhesives, focusing on water-based automotive adhesives, leveraging aluminum adhesive technologies, implementing 3d vision systems and leveraging new technologies for dispensing and preactivation.
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Market Segmentation:
The automotive adhesives market covered in this report is segmented -
1) By Resin Type: Polyurethane, Epoxy, Acrylics, Silicone, SMP, MMA, Other Resin Types
2) By Adhesive Type: Structural, Tapes And Films, Threadlocks And Retainers, Liquid Gaskets, Automotive Adhesives
3) By Vehicle Type: Passenger Cars, LCVs, Trucks, Buses, Aftermarket
4) By Application: BIW, Glazing, Powertrain, Paint Shops, Upholstery
Major Driver - Growing Demand For Lightweight, Low-Emission Vehicles Boosts Automotive Adhesives Market
The rise in demand for lightweight, low-carbon-emitting vehicles is expected to propel the growth of the automotive adhesives market. 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. For instance, according to Trading Economics, around 12.8 million autos and light-weight trucks were sold in the USA in November 2021. Hence, the rise in demand for lightweight and low-carbon-emitting vehicles will drive the automotive adhesives market.
Competitive Landscape:
Major companies operating in the automotive adhesives market report are Henkel & Co. KGaA, 3M Company, Arkema, Sika AG, H.B. Fuller, Illinois Tool Works Inc, PPG Industries, Dow Inc, Avery Dennison, Huntsman, Benson Polymers Limited, Acme Corp, Chadha Corporation Pvt. Ltd, Adfast Polymers, Proten Exim Private Limited, Hunan Magpow Adhesive Group Co. Ltd, Wuhan Boli Chemical Ltd, Zibo Chico International Co. Ltd, Tengxin Chuzhou New Material Co. Ltd, Megabond (Huangshan) Adhesive Co. Ltd, Shanghai Hansi Industrial Co. Ltd, Beijing Comens New Materials Co. Ltd, Japan Sika Corporation, Henkel Japan Ltd, Dow Chemical Japan Ltd, Afinitica, ITAC Adhesives, Bostik UK, Antala Ltd, tesa SE, NPT SRL, Permabond, Grupa Azoty Zaklady Chemiczne Police S.A, MD Poland, RUSTA LLC, Russian Coatings JSC, LIKK, Alloy Products, Amazing Goop, AssureCure, Bondmaster, Camie, Chem-Calk, Chemseal, Chipbonder, ConProTec, Conap, Conapoxy, Cytec, Devcon, Double/Bubble, Dow Corning, Dymax, Dynaloy, E-Max, Eccobond, Eclectic, EconoDot, Elastoplastic, Ellsworth, Emerson & Cuming, Epoxi-Patch, FISHMAN, Oasn Me Ltd, Amazonas Industria E Comercio Ltd, Hotmelt Adhesives, Fixa Tudo, Jowat SE.
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Top Trend - Innovation Soars As Automotive Adhesives Market Witnesses New Product Launches
The launch of new adhesives is a key trend in the automotive adhesives market. New product launches increase the product portfolio of a manufacturer and help boost market share. For instance, 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. The new anaerobic adhesive has been launched to address the challenges faced by engineers with increasingly demanding environmental and safety regulations, smaller and more complex designs, and more adaptable and faster processes in the automotive industry, general assembly, and more.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Adhesives Market Characteristics
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 Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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