The current market size for automotive adhesive is 1431.3 kt and it is expected to reach 1970.7 kt in 2026 with the CAGR (%) of 6.1% from 2021 to 2026.
MISSISSAUGA, TORONTO, CANADA, May 26, 2021 /EINPresswire.com/ -- The Global Automotive Adhesives expected to reach 8.9 Billion by 2026 with the CAGR (%) of 6.8% from 2021 to 2026. The factors playing a driving force to the market are growing trend of lightweight and low carbon-emitting vehicles, and rise in sales of automotive adhesives owing to underlying strength in vehicle sales, technological advancements in manufacturing of automobiles, and adoption of electric vehicles.
Polyurethane Segment accounted for the largest market share in 2020
Polyurethane has the largest share in the automotive adhesives market because they provide excellent bonding for both, like and dislike surfaces including plastics, rubber, glass, and metals. Polyurethane adhesives are widely used where it is required to have higher efficiency at a low operating cost due to their versatility with respect to their properties.
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Electric Vehicles market to witness the highest growth during the forecast period
In the automotive adhesives market, the demand for electric vehicle has also witness a significant demand owing to favorable government policies and support in terms of subsidies and grants, tax rebates and other non-financial benefits in the form of car pool lane access, and new car registration (specifically, in China where ICE engine new car registration are banned in some urban areas) the increasing vehicle range, better availability of charging infrastructure and proactive participation by automotive OEMs are also major factor driving for the growth of the segment. In addition, the growing sensitivity of various governments toward a cleaner environment has increased the demand for zero-emission vehicles. Developed nations such as the US, Germany, and the UK are actively promoting the use of electric vehicles to reduce emissions, which has resulted in the growth of electric vehicle sales and in turn the growth of passenger car segment.
APAC market to capture the highest market share in 2020
APAC is the largest and projected to be the fastest-growing automotive adhesives market. The region encompasses a diverse range of economies with different levels of economic development and multiple industrial developments. With economic contraction and saturation in Europe and North America, adhesive manufacturers are shifting their production base to APAC. China is one of the leading producers and consumers of automotive adhesives in the region. The strengthening economy of countries such as China and India are attracting new investments in APAC. The key market players are expanding their automotive adhesives production in APAC, especially in China and India.
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Hotmelt Adhesives Captured the largest market share in 2020
The market size for hotmelt adhesive expected to reach 752.5 kt in 2026 with the CAGR (%) of 3.8% from 2021 to 2026. The hotmelt adhesives will continue to dominate the market as they are used in variety of applications in the automotive sector such as tray attachments, door sealants, auto assemblies, seating, auto seat upholstery, exterior trim bonding, headliner attachment, and water shields etc.
Some of the prominent players in this Automotive Adhesives market are 3M, Ashland Inc., Dow Chemical Company, FORBO (Acquired by H. B. Fuller), B. Fuller, Henkel AG & Co. KGAA, Hunstman, Henkel AG & Co. KGAA, Momentive, Permabond, PPG Industries Incorporated, Royal Adhesives & Sealants, Sika AG, Siq Indústria Química Ltda, Solvay S.A and Others.
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Automotive Adhesives Market Size & Forecasts, By Technology
• Water based
• Solvent borne
• Hot melt
Automotive Adhesives Market Size & Forecasts By Chemistry
Automotive Adhesives Market Size & Forecasts Size by Function
• Temperature Resistance
• Corrosion Resistance
Automotive Adhesives Market Size & Forecasts Size By Vehicle Component
• Wire harnessing
Automotive Adhesives Market Size & Forecasts Size By Vehicle Type
• Passenger Car
• Light Commercial Vehicles
• Heavy Commercial Vehicles
• Electric Vehicles
Automotive Adhesives Market Size & Forecasts Size By Channel
• OEM / Tiers
Automotive Adhesives Market Size & Forecasts Size by Company*
• ADCO Products
• Adhesive Research
• Adtracon Adhesive Technologies
• AFTEC (Europe)
• Alberdingk Boley GmbH
• Amino (Brazil)
• Ashland Inc.
• Axson France S.A.
• Beijing Comens YanShan Tech
• Berry Plastics Corporation
• Bostik S.A. (Acquired by Arkema)
• Brascola Ltda.
• Carlisle Companies Incorporated
• Cemedine Thailand Co., Ltd. (Henkel)
• Hangzhou Zhijiang Silicone Chemicals
• Henkel AG & Co. KGAA
• Henkel Surface Technologies Brasil
• Henkel Technologies Automotive (Korea)
• Hubei Huitian Glue Industry
• Hutchinson (Owned by Total)
• Illinois Tool Works
• IMCD Deutschland GmbH & Co. KG
• Indústria Química Una
• Jilin Petrochemical Design
• Jowat AG
• Kömmerling Chemische Fabrik GmbH
• Konishi Co., Ltd. & Others
*This is a tentative list of companies. In the final report, 60+ companies’ data will be provided
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