DUBLIN--(BUSINESS WIRE)--The "Automotive Adhesives Market by Resin Type, Technology, Application, and Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The global automotive adhesives market size was valued at $4.7 billion in 2020, and projected to reach $8.4 billion by 2030, with a CAGR of 5.9% from 2021 to 2030.
Adhesives are lightweight materials used for joining most composites and plastic materials. They are known for improving stress distribution and expanding the choices of composites and dissimilar substrates throughout the vehicle. They are the most versatile bonding agent available today, and are used by vehicle manufacturers to make cars lighter and tougher.
Moreover, they are made from precise blends of synthetic rubber elastomers, resins, and additives such as photo initiators and stabilizers, which enhance the characteristics of automotive adhesives. In addition, currently automobile manufacturers glue aluminum and composites together so that vehicle parts are intact even at high speed and high pressure. Adhesives do not lose strength and hence, are used for these applications.
This report projects the trends and opportunities of the global automotive adhesives market. This research study includes a qualitative and quantitative analysis with comprehensive research methodologies and reliable projections to understand the present overview and predict the market behavior during the forecast period.
Automotive adhesives exhibit multiple applications in the automobile industry by enhancing the design and infrastructure of vehicles. They are deployed to fabricate rubber, metal, glass, and plastics together during the manufacture of automobiles. They inhibit the ingress of salt, dirt, and water in the car shell. Moreover, they have improved the vehicle stiffness and durability, and provide improved crash performance. In addition, use of adhesives at multiple stages of production of an automobile has significantly driven the market growth.
Adhesives are used for direct glazing, which has resulted in the improvement of rigidity of vehicles. They are deployed on the production line, which has resulted in cost reduction and savings. Therefore, adhesives have significantly improved the fuel efficiency of automobiles and provide enhanced performance, which drive the growth of the automotive industry.
Key Findings Of The Study
- Region wise, the Asia-Pacific is projected to witness growth at the highest CAGR in terms of revenue, during the forecast period
- As per global automotive adhesives market analysis, by resin type, the polyamide segment accounted for the largest share in 2020
- On the basis of technology, the water based segment was the major share contributor in 2020
- On the basis of vehicle type, the passenger vehicles segment was the major share contributor in 2020
- On the basis of application, the body-in-white segment was the major share contributor in 2020
- Growth in Demand for Lightweight and Low Carbon Emission Vehicles
- Automobile Manufacturers Increasingly Investing in Evs Due to Government Regulations and Purchase Incentives
- Volatility in Raw Material Prices
- Scope for Growth of Autonomous Evs and Increase in Demand for Low-Voc, Green, and Sustainable Adhesives
Key Market Segments
By Resin Type
- Others (Rubber and Phenolic Adhesives)
- Hot melt
- Solvent Based
- Water based
- Pressure Sensitive
- Others (Reactive and Thermosetting)
By Vehicle Type
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
- Body-in-White (BIW)
- Paint Shop
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA
- Henkel & Co. KGaA
- Bostik S.A.
- 3M Company
- The DOW Chemical Company
- Sika AG
- H.B. Fuller
- PPG Industries
- Jowat AG
- Illinois Tool Works Corporation
- Solvay S.A.
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