Press release
Electric Vehicle Adhesives Market Know the Scope and Trends
According to the latest research by InsightAce Analytic, the Global Electric Vehicle Adhesives Market is valued at US$ 1.27 Bn in 2022, and it is expected to reach US$ 22.88 Bn by 2031, with a CAGR of 38.06% during a forecast period of 2023-2031.
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Electric vehicle (EV) adhesives represent a specialized class of bonding solutions tailored for use in the manufacturing and assembly of electric vehicles. As the automotive industry transitions toward electrification, the role of adhesives has become increasingly critical across various applications-including structural reinforcement, thermal regulation, electrical insulation, and acoustic damping. The rising demand for electric two-wheelers, particularly in emerging markets, has prompted greater investment in the EV sector, thereby driving the adoption of advanced adhesive technologies.
Looking ahead, the sustainability, durability, and safety of EV battery packs are expected to become key focal points. Market growth is largely attributed to the increasing production of electric vehicles and the broader industry shift from traditional metal fasteners and welding to adhesive-based bonding. This transition contributes to reduced vehicle weight and lower carbon emissions.
List of Significant Players in The Electric Vehicle Adhesives Market:
• Henkel AG & Co. KGaA (Germany),
• H.B. Fuller (US),
• Sika AG (Switzerland),
• 3M (US),
• Wacker Chemie AG (Germany),
• Arkema S.A. (France),
• Ashland Inc. (US),
• PPG Industries (US),
• Parker Hannifin Corporation (US),
• Illinois Tool Works Inc. (US
• Jowat SE
• Permabond LLC
• DELO Industrie Klebstoffe GmbH & Co. KGaA
• Uniseal, Inc.
• Riëd B.V.
• L&L Products
• Dymax Corporation
• WEICON Gmbh & Co. Kg
• ThreeBond Co., Ltd.
• Evonik Industries Ag
• KLEIBERIT SE & Co. KG
• Metlok Private Limited
• Hexcel Corporation
• Lohmann Technologies
• US Adhesives
• Others
Market Dynamics:
Drivers-
Polyurethane resins are gaining significant traction due to their superior bonding capabilities and rapid curing properties across a wide range of substrates, including composites, plastics, and metals. Their outstanding performance characteristics have led to increased adoption within the automotive industry, particularly in the production of electric vehicles (EVs). This trend is expected to drive robust market growth over the forecast period.
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Challenges:
Despite the promising outlook, the electric vehicle adhesives market faces several constraints. Higher initial costs and the expense of raw materials make these adhesives more costly compared to conventional alternatives, potentially reducing consumer demand. Additional barriers include the absence of industry-wide standards and the limited availability of charging infrastructure. Furthermore, the restricted driving range of electric vehicles may pose a continued challenge to market expansion over the projected period.
Regional Trends:
The Asia Pacific region is projected to hold a leading share of the electric vehicle adhesives market in terms of revenue and is anticipated to register a high compound annual growth rate (CAGR) in the coming years. Key drivers include population growth, rapid urbanization, accelerating industrial development, and intensified R&D efforts by major market participants. Europe also maintains a significant market share. With China recognized as the largest producer of electric vehicles globally, the region remains a primary consumer of EV adhesives. As electric vehicle production and adoption gain further momentum, demand for specialized adhesive solutions in the region is expected to remain strong.
Recent Developments
• In June 2023, PPG declared the establishment of its battery pack application facility (BPAC) situated in Tianjin, China. The facility, valued at $30 Bn, encompasses a comprehensive array of capabilities for evaluating the practicality of PPG coatings technologies, materials, and systems in the context of electric vehicle battery packs. This enables customers to expedite the advancement of novel electric vehicle technologies.
• In Dec 2022, Henkel Adhesives demonstrated a strong commitment to expansion by leveraging electric vehicle (EV) battery technologies. Henkel, in alignment with automakers and battery producers, has actively engaged in research endeavours to enhance electric vehicles (EVs) by leveraging significant technological breakthroughs.
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Segmentation Of Electric Vehicle Adhesives Market-
By Application
• Powertrain System
• Optical Element
• Sensor & Communication
• Body Frame
By Resin Type
• Polyurethane
• Epoxy
• Silicone
• Acrylic
• Others
By Vehicle Type
• Electric Cars
• Electric Buses
• Electric Trucks
• Electric Bikes
By Substrate
• Plastic
• Composite
• Metals
• Others
By Form
• Liquid
• Film and Tape
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.https://www.insightaceanalytic.com/images_data/148861653.JPG
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