Adhesives in the Japanese automotive industry to reach $683 million by 2021

According to a new market report published by Lucintel, the future of adhesives in the Japanese automotive industry looks good with opportunities in the passenger car and light commercial vehicles. Adhesives in the Japanese automotive industry are expected to reach an estimated $683 million by 2021 and are forecast to grow at a CAGR of 3.4% by value from 2016 to 2021. The major drivers of growth for this market are growth in the production of passenger car and light commercial vehicles, and increase in the demand for lightweight materials.
In this market, epoxy, polyurethane, acrylic, and other adhesives are the major adhesive types used in automotive industry. On the basis of its comprehensive research, Lucintel forecasts that the polyurethane adhesives and epoxy adhesives segments are expected to show above average growth during the forecast period.
Within the Japanese automotive adhesives industry, the polyurethane adhesives segment is expected to remain the largest market. Diverse applications of polyurethane adhesives in the automotive industry are expected to drive adhesives consumption, which would spur growth for this segment over the forecast period.
In this market, passenger car is largest segment by vehicle type and it is expected to remain as the largest segment due to increase in passenger car production and increasing use of lightweight materials.
Adhesives usage in non-structural application is expected to remain the largest segment due to its varied usage in bonding aluminum hoods, lift gates, aluminum body panels, doors, and other non-structural automotive parts made of lightweight materials.
For business expansion, the report suggests innovation and new product development to reduce curing time, improve cohesion strength, and high temperature resistance. The report further suggests the development of partnerships with customers to create win-win situations and development of low-cost solutions for customers.
Emerging trends which have a direct impact on the dynamics of the industry include increasing use of composites and lightweight materials in vehicles, development of new silicone-based electrically conductive adhesives in automotive sensor applications. Henkel Japan Ltd., 3M Japan Ltd., Dow Chemical Japan Ltd., Japan Sika Corporation., and Sekisui Fuller Co., Ltd. are the major manufacturers of adhesives in the Japanese automotive industry. Some companies are opting for mergers and acquisitions as strategic initiatives for driving growth.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities for adhesives in the Japanese automotive industry by product type, vehicle type, application type, and region, and has compiled a comprehensive research report entitled “Growth Opportunities for Adhesives in the Japanese Automotive Industry 2016-2021: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a springboard for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the growth opportunities for adhesives in the Japanese automotive industry by product type, vehicle type, application type, and region, as follows:
By Product [Volume M lbs. and $ M Shipment analysis for 2010 to 2021]:
• Epoxy Adhesives
• Polyurethane Adhesives
• Acrylic Adhesives
• Other Adhesives

By Vehicle [Volume M lbs. and $ M Shipment analysis for 2010 to 2021]:
• Passenger Cars
• Light Commercial Vehicles

By Application [Volume M lbs. and $ M Shipment analysis for 2015 and 2021]:
• Structural Components
• Non-Structural Components

Region [Volume M lbs. and $ M Shipment analysis for 2010 to 2021]:
• North America
• Europe
• Asia Pacific
• Rest of the World

This 100-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com. Lucintel offerings include Chemical Market Research Reports, Chemical Industry Analysis Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT Analysis.

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

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This release was published on openPR.