Automotive Adhesives and Sealants - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Automotive Adhesives and Sealants Market is accounted for $9,777.43 million in 2019 and is expected to reach $17,830.96 million by 2027 growing at a CAGR of 7.8% during the forecast period. Some of the key factors propelling the market growth include growing demand for lightweight vehicles, stringent environment regulations, increasing vehicle production, increasing R&D activities, and increasing demand for materials including adhesives sealants. However, volatility in raw material prices is likely to hamper the market.
Automotive adhesives and sealants are resources used for bonding and sealing applications in the automotive sector. Such materials are designed to improve performance, reliability, safety, comfort, and ease to users. These are used extensively from small components such as sensors to large components such as vehicle chassis. They are mostly used in place of welding as it reduces the weight of the vehicles and increasing fuel efficiency. Adhesives offers higher tensile and shear strength and sealants provide great flexibility, which makes them preferable for various bonding and holding applications.
By type, polyurethane is the most widely used resin for producing automotive adhesives and sealants. They are thermosetting polymers, which do not melt when heated. Polyurethane polymers are formed by the reaction of isocyanate and polyol. Polyurethane adhesives are the most commonly used adhesives, which provide extremely strong bonding. Furthermore, they provide good resistance against heat, moisture, and chemicals. They are flexible and durable, as well as provide good impact resistance.
On the basis of geography, the Asia Pacific region is expected to have considerable market growth during the forecast period, owing to increasing automotive production along with the advancement of adhesives in the automotive sector. Emerging economies such as India and China are estimated to offer significant growth opportunities owing to manufacturers are focusing to produce eco-friendly and fast curing adhesives from bio-based and renewable resources, which is anticipated to fuel industry growth.
Some of the key players in automotive adhesives and sealants market include Arkema Group, Avery Dennison Corp, H.B. Fuller, Henkel Ag Co., Kgaa, 3M, Illinois Tool Work Corporation, Jowat Ag, Royal Adhesive Sealant, Rpm International Inc, Bostik SA, Cytec Industries, Inc, Dowdupont, The Reynolds Co, Pidilite Industry Ltd, Ppg Industry, Tesa Se, Hexion, Huntsman Corp, Sika Ag, and BASF.
• Hot Melts
• Styrenic Block
• Ethylene-Vinyl Acetate
• Polyvinyl Acetate
• Under-The-Hood & Power Train
• Body in White
• Paint Shop
• Automotive Running System
• Auto Repair
• Noise, Vibration & Harshness (NVH)
Vehicle Types Covered:
• Light Commercial Vehicles (LCV)
• Passenger Cars
• Heavy & Medium Duty Commercial Vehicles (H/MCV)
• Pressure Sensitive
• Chemically Curing
• Physically Hardening
Sales Channels Covered:
End Users Covered:
• IT & Telecom
• Transaction Intelligence
• Consumer Services
• Banking Financial Services, and Insurance
• Healthcare and Life Science
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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