IMARC Group, a leading market research company, has recently releases report titled “Automotive Adhesives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global automotive adhesives market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How Big is the Automotive Adhesives Market?
| Report Attributes | Details |
| Market Size in 2022 | US$ 5.9 Billion |
| Market Forecast in 2028 | US$ 8.0 Billion |
| Growth rate (2023 to 2028) | CAGR of 5% |
| Base Year of the Analysis | 2022 |
| Forecast Period | 2023-2028 |
What are Automotive Adhesives?
Automotive adhesives are binding substances used to bond and seal different components of a vehicle, such as dashboards, door panels, light covers, armrests, lenses, chassis, headliners, and consoles. They are manufactured from propylene, epoxide, acrylics, polyester resins, vinyl acetate monomer, ethylene, amine-based resins, and synthetic materials. Their commonly available variants include solvent-based, water-based, and hot melt variants that contain volatile organic compounds (VOCs). They help improve cohesive strength and corrosion resistance, reduce drying time, ease automation, and ensure strong bonds. In recent years, automotive adhesives have gained immense traction as they assist in enhancing front and rear lateral body stiffness, lowering noise and vibration, decreasing vehicle mass, and improving crash performance.
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What are the growth prospects and trends in the Automotive Adhesives Industry?
The global automotive adhesives market is primarily driven by rapid growth in the automotive industry. Moreover, the increasing adoption of electric vehicles (EVs) due to the rising environmental consciousness is positively influencing market growth.
Additionally, numerous product innovations, such as the formulation of biodegradable automotive adhesives manufactured using sustainable materials that help reduce the emission of harmful chemicals, have augmented product demand. Besides this, the increasing use of polyurethane resin in the production of automotive adhesives and sealants to improve the durability, scratch resistance, and corrosion resistance of vehicles has catalyzed market growth.
Other factors, including favorable government initiatives, escalating demand for lightweight vehicles, and the introduction of high-performance adhesive tapes, are also anticipated to create a positive market outlook.
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What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Technology:
- Hot Melt
- Solvent Based
- Water Based
- Pressure Sensitive
- Others
Breakup by Resin Type:
- Polyurethane
- Epoxy
- Acrylic
- Silicone
- SMP
- Polyamide
- Others
Breakup by Vehicle Type:
- Passenger Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Breakup by Application:
- Body in White (BIW)
- Powertrain
- Paint Shop
- Assembly
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
3M Company, Avery Dennison Corporation, BASF SE, Bostik SA (Arkema S.A.), Covestro AG, Dow Inc., DuPont de Nemours Inc., H.B. Fuller Company, Henkel AG & Co. KGaA, Huntsman Corporation, Illinois Tool Works Inc., Nitto Denko Corporation, PPG Industries Inc., Sika AG and Solvay S.A.
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