DUBLIN--(BUSINESS WIRE)--The "Automotive Adhesives Market by Resin (Polyurethane, Epoxy, Acrylic, Silicone, SMP, MMA), Application (Body in White, Paint Shop, Assembly, Powertrain), Vehicle Type (Passenger Car, LCV, Truck, Bus, Aftermarket), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The automotive adhesives market is expected to grow from USD 8.1 billion in 2019 to USD 10.7 billion by 2024, at a CAGR of 5.7%, between 2019 and 2024.
APAC is the largest consumer of automotive adhesives. Low-cost of manufacturing in APAC countries and high demand for automotive adhesives in the region are driving its market growth.
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 which 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, 2019 to 2024. 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 car 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.
The key companies profiled in this report are the Henkel (Germany), Arkema (Bostik) (France), 3M (US), Dupont (US), H.B. Fuller (US), Sika (Switzerland), and Huntsman (US).
- Growing Demand for Lightweight and Low Carbon-Emitting Vehicles
- High Demand for Automotive Adhesives From APAC Region
- Technological Advancements in End-Use Industries
- Automobile Manufacturers Increasingly Investing in EV Due to Government Regulations and Purchase Incentives
- Volatility in Raw Material Prices
- Growing Demand for Low Voc, Green, and Sustainable Adhesives
- Scope for Growth of Autonomous Electric Vehicle
- Stringent and Time-Consuming Regulatory Policies
Porter's Five Forces Analysis
- Trends and Forecast of GDP
- Growth Indicators in the Automotive Industry
- 3M Company
- Anabond Limited
- Bostik S.A.
- Cattie Adhesives
- Delo Industrial Adhesives
- Dupont (Dowdupont)
- Dymax Corporation
- H.B. Fuller
- Henkel & Co. KGaA
- Hernon Manufacturing Inc.
- Huntsman International LLC.
- Illinois Tool Works Corporation
- Innovative Resin Systems
- Jowat Se
- L&L Products
- Lord Corporation
- Master Bond Inc
- Metlok Private Limited.
- Permabond LLC.
- PPG Industries
- Scott Bader Company Ltd.
- Sika AG
- Sunstar Engineering Group
- Threebond Co., Ltd.
- Uniseal Inc.
- Weicon GmbH & Co. KG
For more information about this report visit https://www.researchandmarkets.com/r/uoa0tw