Press release
Automotive Adhesives Market: Size, Share, Trends, Growth, Technology, Analysis And Forecast To 2033
Automotive Adhesives Market
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.
Market Overview -
Automotive adhesives are used as binding substances by automotive equipment manufacturers (OEMs) to bond different substrates of metal, eliminating the need for welding and mechanical bolts, welds, and rivets. Adhesives are lightweight components that are used to join metals, composites, plastics, and other materials together. In the automotive sector, adhesives are used to join various automobile components, such as closures and structural modules. Adhesives in automobile assembly successfully and safely solve important applications that have previously relied on mechanical fasteners (e.g., rivets, welds, screws, and clinches) while giving modern automobiles more design freedom and thus improving the aesthetic appeal of automobiles. Automotive adhesives are frequently utilized in sealing, holding, and structural applications in both the manufacturing and aftermarket of automobiles.
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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.
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.
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Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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