The opportunities for adhesives in the Indian automotive industry is expected to reach $384.0 million by 2021

According to a new market report published by Lucintel, the future of adhesives in the Indian automotive industry looks good with opportunities in the passenger car and light commercial vehicle segments. Adhesives in the Indian automotive industry are expected to reach an estimated $384.0 million by 2021 and forecast to grow at a CAGR of 8.4% by value from 2016 to 2021. The major drivers for growth of this market are growth in the production of passenger cars and light commercial vehicles.
In this market, epoxy, polyurethane, and acrylic are the major adhesives by product type used in the automotive industry. On the basis of its comprehensive research, Lucintel forecasts that the epoxy adhesive is expected to show above average growth during the forecast period.
Within the adhesives in the Indian automotive industry, the polyurethane adhesives segment is expected to remain as the largest market. It has better mechanical properties, and an increase in automotive production is expected to drive adhesives consumption, which would spur growth for this segment over the forecast period.
In this market, passenger car is expected to remain the largest segment due to growth of passenger car production.
For business expansion, Lucintel’s report suggests innovation and new product development to improve impact resistance, heat resistance, and excellent shear and peel performance. 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 plastics and lightweight materials in automotive applications and increasing use of water based adhesives. Henkel AG & Co KGaA, The 3M Company, HB Fuller, Sika AG, and Huntsman are the major supplier of adhesives in the Indian automotive industry.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities for adhesives in the Indian 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 Indian Automotive Industry 2016-2021: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a springboard for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the growth opportunities for adhesives in the Indian automotive industry by product type, vehicle type, application type, and region, as shown below:
By Product (Volume M lbs. and $ M Shipment from 2010 to 2021):
• Epoxy Adhesives
• Polyurethane Adhesives
• Acrylic Adhesives
• Other Adhesives

By Vehicle (Volume M lbs. and $ M Shipment from 2010 to 2021):
• Passenger Car
• Light Commercial Vehicles

By Application (Volume M lbs. and $ M Shipment for 2015 and 2021):
• Structural components
• Non-structural components
This 90-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, commercial due diligence report, business strategy consulting and market research reports online.

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.