Global Automotive Adhesives Market Poised for Steady Growth Driven by Lightweighting and EV Trends
Global Automotive Adhesives Market was valued at USD 4.26 billion in 2021 and is expected to reach USD 5.35 billion by the year 2028, at a CAGR of 4%.
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The global automotive adhesives market is expected to witness significant growth in the coming years, driven by several key trends. According to a report by IMR, the market size is projected to reach USD 5.35 billion by 2028, growing at a compound annual growth rate (CAGR) of 4% during the forecast period.
Automotive design is evolving to use sensors, cameras, and mirrors to render driving assistance and prevent accidents. The use of digital tools and automation of adhesive applications are gaining momentum because stakeholders are continuously working to improve the speed, accuracy, and efficiency of automotive production and adhesive application processes. Depending on the levels of automation that automotive customers are adopting, ranging from handheld automation equipment to robotic applications, A&S suppliers should focus on developing formulations that adequately support automation in the industry. Adhesive de-bonding is another crucial focus area because of the increasing interest in end-of-life, maintenance, and repair of vehicle components.
Key Prominent Players In The Automotive Adhesives Market:
· 3M Company
· DuPont de Nemours Inc.
· Transtar Autobody Technologies Inc.
· Bondo Corporation
· Arkema S.A.
· Bostik S.A.
· Ashland Global Holdings Inc.
· BASF SE
· Bemis Associates Inc.
· Covestro AG
· EMS-Chemie Holding AG
· Permatex Inc.
· H.B. Fuller Company
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Global Automotive Adhesives Market Segmentation:
· Polyurethanes
· Epoxy
· Acrylics
· Silicone
· Others
By Technology
· Hotmelt
· Solvent Based
· Water-Based
· Pressure Sensitive
· Others
By Application
· Body in White
· Power Train
· Paint Shop
· Assembly
By Sales Channels
· OEM
· Aftermarket
Geographic Segment Covered in the Report:
· North America (US, Canada, Mexico)
· Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
· Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
· Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
· Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
· South America (Brazil, Argentina, Rest of SA)
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This study conducts a SWOT analysis to evaluate the strengths and weaknesses of key players in the Automotive Adhesives market. Additionally, the report performs a complex inspection of drivers and restraints operating in the market. The report also evaluates the observed trends in the parent market along with macroeconomic indicators, dominant factors and market attractiveness in relation to other segments. The report forecasts the impact of various industry aspects on the Automotive Adhesives market segments and regions.
Key Industry Developments in the Automotive Adhesives Market:
Shift Towards Lightweight Vehicles: Automotive manufacturers are increasingly focused on reducing vehicle weight to improve fuel efficiency and meet regulatory standards for emissions. This trend has led to a higher demand for lightweight materials like aluminum and composites, which require advanced adhesive solutions for bonding.
Advancements in Structural Adhesives: There is a significant emphasis on developing high-performance structural adhesives that can replace traditional joining methods such as welding and mechanical fastening. These adhesives offer benefits such as improved crash resistance, vibration damping, and enhanced durability, contributing to overall vehicle safety and longevity.
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