Automotive Adhesives Market Size | Industry & Forecast, 2029

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

Segmentation by Technology

Segmentation by Application

Segmentation by Vehicle Type

Segmentation by Region

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