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.

How Big is the Automotive Adhesives Market?

The global automotive adhesives market size reached US$ 5.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.0 Billion by 2028, exhibiting a growth rate (CAGR) of 5% during 2023-2028.

Automotive adhesives are specialized adhesives used in the automotive industry for withstanding the stresses and strains of the automotive environment and providing strong, reliable bonds that can resist high loads and vibrations. They can also hold out harsh environments, including heat, cold, moisture, and chemicals, and do not degrade and lose their bonding properties over time. Moreover, they offer high flexibility and do not brittle and crack when exposed to flexing or bending. Automotive adhesives offer several advantages over traditional mechanical fasteners, such as welding, riveting, and screws. They distribute loads more evenly, providing better structural integrity and reducing stress on the substrate. They also reduce the need for drilling, welding, and other labor-intensive assembly methods, which aids in faster production times and lower costs. Additionally, they help improve the aesthetics of a vehicle by reducing the appearance of visible fasteners and creating smooth, seamless joints. At present, different types of automotive adhesives employed in multiple applications within the automotive industry, includes epoxy, acrylic, urethane, and silicone. 

Get Your Free Sample Copy of This Report: https://www.imarcgroup.com/automotive-adhesives-market/requestsample

What are the growth prospects and trends in the automotive adhesives industry?

At present, the burgeoning automotive industry and the growing demand for lightweight vehicles to improve fuel efficiency and reduce emissions are catalyzing the demand for high-performance adhesives that can bond lightweight materials, such as aluminum, carbon fiber, and plastics. This represents one of the key factors positively influencing the market across the globe. Additionally, rising environmental concerns, increasing demand for electric vehicles (EVs), and the widespread adoption of automotive adhesives due to their ability to withstand high temperatures and provide excellent electrical insulation are creating a favorable market outlook.

Apart from this, governments of various countries are implementing stringent regulations on automotive manufacturers to reduce the carbon footprint of vehicles. As a result, manufacturers are seeking alternative bonding technologies, such as adhesives, to replace traditional mechanical fastening methods. Moreover, the development of structural adhesives that offer high strength, durability, and flexibility is enabling automotive manufacturers to design and produce vehicles with complex shapes and structures. This, in confluence with the increasing investments in research and development (R&D) activities for advancements in adhesive technology, is strengthening the growth of the market.

Furthermore, the rising demand for aftermarket products to repair and maintain vehicles is offering lucrative growth opportunities to key market players for introducing adhesives that are easy to apply and provide strong and long-lasting bonds. Some of the other factors, such as inflating disposable incomes, rapid urbanization, and increasing availability of automotive adhesives, are stimulating the market growth worldwide.

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

Market 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.

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact US

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA

USA: +1-631-791-1145 | Asia: +91-120-433-0800

Email: sales@imarcgroup.com

Follow us on Twitter: @imarcglobal

LinkedIn: https://www.linkedin.com/company/imarc-group/mycompany/