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Automotive Adhesives Market reached USD 6.3 billion in 2021 and is estimated to reach USD 9.1 billion in 2029 and the market is estimated to grow at a CAGR of 4.7% from 2022-2029
The factors driving growth of the Automotive Adhesives Market includes growing demand for lightweight and autonomous vehicles, rising focus on reducing carbon dioxide emissions, increasing application of adhesives to bind metals, plastics and composites and improvements in the living standards. For instance, the almost 1.4 million autonomous vehicles with at least Level 3 autonomy were sold globally in 2019, this figure is expected to reach 58 million units by the end of 2030, which will accelerate the Automotive Adhesives Market size in the approaching years. Moreover, technological advancements in automotive adhesives, growing adoption of smart cars around the world, rise in the manufacturing of electric vehicles, rapid urbanization and increasing deployment of adhesives to reduce noise and vibration in vehicles are some of the additional factors supplementing the Automotive Adhesives Market share. In addition, the increasing investments by leading players on research and development, strategic mergers and acquisitions between companies and growing disposable incomes, are further contributing towards the market growth.
However, growth of the Automotive Adhesives Market is hindered due to increasing prices of raw materials.
The major players operating in the Automotive Adhesives Market incluudes Dymax Corporation, Ashland, PPG Industries, Illinois Tool Works Corporation, Henkel & Co. KGaA, Sika AG, L&L Products, Lord Corporation, Jowat SE, 3M Company, Dupont, H.B. Fuller Company, and Huntsman International LLC, among others.
Based on Resin, the MMA segment is predicted to grow at a significant CAGR during the forecast period
MMA based adhesives are increasingly used in the automotive industry because it reduces weight of the vehicles and are used in the manufacturing of joining seats, spoilers, bumpers, and headlights, are some of the factors pushing growth of the segment.
Based on Application, the Assembly emerged as the fastest growing segment over the forecast period
Growing demand for passenger vehicles across developing countries, is propelling growth of the segment.
Based on Region, the Asia-Pacific region is anticipated to capture the largest market share during the forecast period
As per the Automotive Adhesives Market Trends, Government policies promoting the manufacturing of electric vehicles, growing concerns related to global warming and climate change, rapid industrialization, rising per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in the Asia-Pacific region.
Market Segmentation
Segmentation by Resin
Polyurethane
Epoxy
Acrylics
Silicone
SMP
MMA
Others
Segmentation by Technology
Reactive
Water-Based
Hot-Melt
Solvent-Based
Others
Segmentation by Application
Body in white
Antiflutter
HEM Flange Bonding
Seam Sealing/Spot Sealant
Structural Bonding
Paint shop
Underbody Sealing
Seam Sealing
Underbody Coating
Sound Deadening
Assembly
Direct Glazing
Trim Parts
Sunroof
Headliner
Upholstery
Powertrain
Liquid Gasket
Segmentation by Vehicle Type
Passenger car
LCV
Truck
Bus
Aftermarket
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
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