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Driving Towards Light-weight and Eco-Friendly Solutions: Automotive Adhesives Market Projected to Reach $8.18 Billion by 2029
Automotive Adhesives Market Size
What Is The Projected Market Size Of The Global Automotive Adhesives Market And Its Growth Rate?
The ongoing automotive revolution is primed to fuel the automotive adhesives market growth.
• Market size in 2024: $5.69 billion
• Projected market size in 2025: $6.05 billion, reflecting a CAGR of 6.4%
• Projected size in 2029: $8.18 billion, with an anticipated CAGR of 7.8%
Key factors supporting growth include strong economic performance in emerging markets, growing world population, and government initiatives to support electric vehicles (EVs).
What Is Driving The Growth In The Automotive Adhesives Market?
The increasing demand for lightweight and low-carbon-emitting vehicles is driving the growth of the automotive adhesives market. These adhesives reduce the vehicle's weight by replacing traditional components such as nuts, bolts, rivets, and welding. They enable manufacturers to improve fuel economy and emission standards. Notably, the rise in zero-emission vehicle registrations in Canada signifies the global shift towards lightweight vehicles, further propelling the market growth.
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Who Are the Key Players Driving Automotive Adhesives Market Growth?
The key players steering the momentum in the automotive adhesives market include:
• 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
What Are The Key Trends In The Automotive Adhesives Market?
Significant market trends comprise:
• A shift towards eco-friendly automotive adhesives
• Use of water-based automotive adhesives
• Adoption of aluminum adhesive technologies
• Implementation of 3D vision systems
• Introduction of new technologies for dispensing and pre-activation
What Are The Segments Of The Global Automotive Adhesives Market?
The market can be divided based on:
• Resin Types: Polyurethane, Epoxy, Acrylics, Silicone, SMP, MMA, Other Resin Types
• Adhesive Types: Structural, Tapes And Films, Threadlocks And Retainers, Liquid Gaskets, Automotive Adhesives
• Vehicle Type: Passenger Cars, LCVs, Trucks, Buses, Aftermarket
• Application: BIW, Glazing, Powertrain, Paint Shops, Upholstery
Which Region Leads The Automotive Adhesives Market?
The Asia-Pacific region maintains the leading position in the automotive adhesives market since 2024, with expectations of sustained growth in subsequent years. The report also covers other regions including Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Automotive Adhesives Market Global Market Report?
- Market Size Analysis: Analyze the Automotive Adhesives Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Automotive Adhesives Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Automotive Adhesives Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities, and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Automotive Adhesives Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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