Categories: Chemicals

Automotive Adhesives Global Market By Resin Type, By Application, By Vehicle Type, By Technology, Opportunity Analysis and Forecast, 2023-2032 | Arkema S.A., 3M Company, Solvay S.A., Bayer AG, PPG Industries

Automotive Adhesives Market

The Automotive Adhesives Global Market Report 2023 by The Business Research Company, provides automotive adhesives market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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https://www.thebusinessresearchcompany.com/report/automotive-adhesives-global-market-report

According to The Business Research Company’s Automotive Adhesives Global Market Report 2023, the global automotive adhesives market size grew from $5.14 billion in 2022 to $5.49 billion in 2023 at a compound annual growth rate (CAGR) of 6.8% . The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the automotive adhesives is expected to grow to $7.13 billion in 2027 at a CAGR of 6.7% .

The rise in demand for lightweight, low-carbon emitting vehicles is expected to propel the growth of the automotive adhesives market. With the implementation of stricter emissions laws as a result of increased exhaust emissions, automobile manufacturers are focusing on producing lightweight automobiles to reduce CO2 emissions. Automotive adhesives are used to replace nuts and bolts, rivets, welding, and more to make vehicles lighter and tougher, which improves fuel economy and emissions.

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The automotive adhesives market is segmented:

1) By Adhesive Type: Structural, Tapes and Films, Threadlocks and Retainers, Liquid Gaskets

2) By Vehicle Type: Passenger cars, LCVs, Trucks, Buses, Aftermarket

3) By Resin Type: Polyurethane, Epoxy, Acrylics, Silicone, SMP, MMA, and Other Resin Types

4) By Application: BIW, Glazing, Powertrain, Paint Shops, Upholstery

The launch of new adhesives is a key trend in the automotive adhesives market. New product launches increase the product portfolio of a manufacturer and help boost market share. For instance, in August 2020, Bostik, a leading global adhesive specialist for industrial, construction, and consumer markets, launched a new, innovative water-based adhesive, Aquagrip® 3720, for automotive interior assembly applications, which is used for bonding low-surface, rigid substrates to closed-cell foam and foam-backed materials. In October 2021, Arkema launched a new range of high-performance anaerobic adhesives. This adhesive provides engineers with cost-effective and convenient alternatives to commonly used mechanical fastening solutions such as washers, gaskets, pins, hemp, and tapes. The new anaerobic adhesive has been launched to address the challenges faced by engineers with increasingly demanding environmental and safety regulations, smaller and more complex designs, and more adaptable and faster processes in the automotive industry, general assembly, and more.

The automotive adhesives market report table of contents includes: