The automotive adhesives market is projected to grow from USD 6.6 billion in 2020 to USD 9.3 billion, at a CAGR of 5.9% between 2021 and 2026. The growing trend for lightweight and low carbon-emitting vehicles and the high demand for automotive adhesives from APAC are the drivers in the market. The major growth opportunities in the automotive adhesives market are in India, China, Brazil, Mexico, and other emerging economies. adhesives improve the aesthetic appeal of end products as bolts, rivets, and welds are not required to be used, and thus making these viable for numerous applications involving assembly line, body in white and others.
SMP is the fastest-growing resin type of the automotive adhesives market. Silane-modified polymer adhesives have a smaller market share compared to other types.However, the market for this segment is projected to grow at the highest rate due to stringent environmental regulations on other adhesives in the market.
These regulations prohibit the use of highly toxic solvents which have VOC emissions.As SMP adhesives are odorless, free of isocyanates and solvents, and emit no VOCs, their demand is expected to increase.
The automotive & transportation industry continuously demands more advanced and improved bonding adhesives that offer excellent adhesion, superior durability, chemical & temperature resistance, and low shrinkage.
Passenger cars segment is projected to be the fastest-growing automotive adhesives market. The passenger cars segment is projected to grow at the highest CAGR during the forecast period, 2021 to 2026.In the coming future, younger generations will be a significant driver in the development of more sustainable and convenient modes of commute.
The future is expected to be ruled by passenger cars which may be electric, autonomous, and shared mobility, globally. This is expected to drive the market for the passenger cars segment.
APAC is the largest and projected to be the fastest-growing automotive adhesives market. APAC is the largest as well as the fastest-growing automotive adhesives market.It encompasses a diverse range of economies with different levels of economic development and multiple industries.
Growth is attributed mainly to booming economies such as China and India, among other few smaller countries, such as Indonesia, and Thailand. China is the leader in the market for automotive adhesives in terms of demand in the Asia Pacific.India is a rapidly emerging nation in the market due to the growth in the use of automotive adhesives.
The key market players are expanding their automotive adhesives production in APAC, especially in China, Japan, and India.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in automotive adhesives market, and information was gathered from secondary research to determine and verify the market size of several segments and subsegments.
Breakdown of Primary Interviews: • By Company Type: Tier 1 – 50%, Tier 2 – 30%, and Tier 3 – 20% • By Designation: C Level – 30%, D Level – 30%, and Others – 40% • By Region: North America – 20%, APAC – 40%, Europe – 20%, South America- 10%, and Middle East & Africa – 10%
The key companies profiled in this report are Henkel (Germany), Arkema (Bostik) (France), 3M (US), Dupont (US), H.B. Fuller (US), Sika (Switzerland), and Huntsman (US).
Research Coverage: This report provides detailed segmentation of the automotive adhesives market based on resin type, application, vehicle type, and region.Based on the resin, the market has been segmented into polyurethane, epoxy, acrylic, methyl methacrylate, silicone, SMP, and other resin such as polysulfide, rubber, polyamide, and others.
With respect to application, the automotive adhesives market has been segmented into the body in white, paint shop, assembly, and powertrain.Based on vehicle type, the market has been segmented into passenger cars, LCVs, trucks, buses, and aftermarkets.
Based on the region, the market has been segmented into the Asia Pacific, Europe, North America, South America, and the Middle East & Africa.
Reasons to Buy the Report From an insight perspective, this research report focuses on various levels of analyses — industry analysis (industry trends), market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the market; high growth regions; and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers: • Market Penetration: Comprehensive information on specialty tapes offered by top players in the market • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the market • Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the market for specialty tapes across regions • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market • Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the market.
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