Press release
Automotive Adhesives Market Size Projected To Reach $8.18 Billion By 2034 With A Cagr Of 7.8%
Automotive Adhesives
What Is the Projected Growth of the Automotive Adhesives Market?
The market for automotive adhesives has experienced substantial growth in the past few years. Its size is projected to increase from $5.69 billion in 2024 to $6.05 billion in 2025, with a compound annual growth rate (CAGR) of 6.4%. This growth during the historic period is primarily credited to significant economic progress in developing markets, an increase in global population, government backing for the automotive industry, a surge in demand for improved user comfort, safety, and convenience, and an amplified focus on light-weighting, such as reducing the weight of a vehicle.
In the forthcoming years, the automotive adhesives market size is anticipated to experience substantial growth. By 2029, the market is expected to surge to $8.18 billion, with a compound annual growth rate (CAGR) of 7.8%. The forecasted growth can be credited to increases in global population and urbanization, the swift expansion of e-commerce, supportive government schemes, and a shift towards electric vehicles (EVs). The forecast period will witness trends such as emphasis on environmentally friendly automotive adhesives, attention towards water-based automotive adhesives, the usage of aluminum adhesive technologies, application of 3d vision systems, and harnessing new technologies for dispensing and pre-activation.
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What Are the Different Automotive Adhesives Market 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
Subsegments:
1) By Polyurethane: Flexible Polyurethane Adhesives, Rigid Polyurethane Adhesives
2) By Epoxy: Structural Epoxy Adhesives, Non-Structural Epoxy Adhesives
3) By Acrylics: Reactive Acrylic Adhesives, Non-Reactive Acrylic Adhesives
4) By Silicone: RTV Silicone Adhesives, Structural Silicone Adhesives
5) By SMP (Silyl Modified Polymer): SMP Adhesives For Automotive Applications
6) By MMA (Methyl Methacrylate): MMA Adhesives For Bonding And Sealing
7) By Other Resin Types: Thermoplastic Adhesives, Cyanoacrylate Adhesives
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What Are the Primary Drivers Shaping the Automotive Adhesives Market?
The automotive adhesives market is predicted to flourish due to the growing need for lightweight, low carbon-emitting vehicles. Automobile manufacturers are concentrating on developing lightweight cars to reduce CO2 emissions, as stricter emissions regulations are implemented due to high exhaust emissions. Automotive adhesives, which replace nuts and bolts, rivets, welding, etc, are used to make vehicles lighter but stronger, thereby enhancing fuel economy and emissions. In June 2024, the Canada Energy Regulator - a federal agency in Canada - reported that zero-emission vehicles (ZEVs) are on the rise in Canada with close to 185,000 new registrations in 2023. This signifies an increase of 49% from 2022 and accounts for 11% of all new motor vehicle registrations in 2023. Therefore, the growing demand for lightweight and low carbon-emitting cars is expected to bolster the automotive adhesives market.
Which Companies Are Leading in the Automotive Adhesives Market?
Major companies operating 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, 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, LIKK, 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.
What Are the Major Trends Shaping the Automotive Adhesives Market?
Leading firms in the automotive adhesives sector are concentrating their efforts on creating innovative conductive adhesives, such as injectable thermally conductive adhesives for electric vehicles, to boost battery system efficiency and security. For example, Henkel, a company based in Germany, unveiled its Loctite TLB 9300 APSi in May 2023. This is a specific injectable thermally conductive adhesive intended for electric vehicle (EV) battery systems. With a high thermal conductivity of 3 W/mK, structural bonding abilities, and electrical insulation, it's perfect for tasks like bonding battery cells to modules and cooling systems. It hardens at room temperature without the use of solvents, encouraging sustainability by reducing both emissions and resource consumption, and simultaneously improving manufacturing productivity and safety.
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What Are the Top Revenue-Generating Geographies in the Automotive Adhesives Market?
Asia-Pacific was the largest region in the automotive adhesives market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive adhesives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automotive Adhesives Market?
2. What is the CAGR expected in the Automotive Adhesives Market?
3. What Are the Key Innovations Transforming the Automotive Adhesives Industry?
4. Which Region Is Leading the Automotive Adhesives Market?
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