As part of the final report, an analysis will be included to examine the effects of the Russia-Ukraine War and COVID-19 on the Automotive Adhesives industry.
New Industry Report on Global Automotive Adhesives Market Status and Prospects [2023-2032] has been released. The report is 120 pages long and provides an overview of the business with key types and applications along with the industrial chain structure. It includes information about the global market, such as development trends, competitive landscape analysis, key regions, and their development status. The report also examines advanced approaches and plans, as well as manufacturing processes and cost structures. It analyzes import/export utilities, market figures, cost, price, revenue, and gross productivity of the market. If you are interested in the report, Please Request a Free Sample Copy
The global automotive adhesive market is expected to expand at a CAGR of 5.4%, leading to global revenue of USD 5.45Bn by 2023.
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Adhesives and sealants are the most versatile bonding agents used to make cars lighter and tougher. Adhesives are made from precise blends of resins and agents, additives used to enhance certain characteristics, depending on the end use. In automotive market, adhesives are used to manufacture engines, body components, gear boxes, safety systems, seat systems and sub-assemblies. It also helps to cut down on noise, vibration and other harshness characteristics.
The automotive adhesive market is segmented based on type of resin (polyurethane, epoxy, acrylic, silicone, silyl modified polymer, polyamide and others), technology (hot melt, water based, solvent based, pressure sensitive), vehicle (passenger vehicle, light commercial vehicle, heavy commercial vehicle) and applications (white body, power train, paint shop).
Asia-Pacific is the fastest growing region for the automotive adhesives industry due to growing demand in South Korea, Japan, Malaysia, Vietnam, China, Australia and India.
Key growth factors
The growth of the automotive adhesives market is driven by strong vehicle sales, technological advancements in manufacturing of automobiles, adoption of smart cars, rise in demand for sports utility vehicle and crossover utility vehicles. More stringent regulations concerning carbon dioxide emissions drives demand for light weighting of vehicles, Improvement in fuel efficiency of automobiles and providing enhanced performance are key driving factors behind the advancement of adhesives in the automotive industry. Water based adhesives are gaining a distinction in the adhesives market for being environment friendly. Also, silicone based adhesives are being developed because of their diverse characteristics in applications.
Threats and key players
The changing technology of automotive adhesives means manufacturers must keep up with the trends in the market. It not only gets affected with the change in trends of adhesives but also market of automotive industry.
The key players operating in this market are Sika AG (Switzerland), The Dow Chemical Company (U.S.), Bayer (Germany), Henkel (Germany), BASF (Germany), 3M Company (U.S.), Ashland Specialty Chemical Company (U.S.), H.B. Fuller Company(U.S.), Hindustan Adhesives Limited (India), ExxonMobil Chemical Company (U.S) , Dynea International Oy (Finland) , Forbo Adhesives Switzerland (Switzerland), Hexion Specialty Chemicals (U.S) and Covalence Adhesives (U.S.), etc.
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What’s covered in the report?
1. Overview of the global automotive adhesives market
2. Market drivers and challenges in the global automotive adhesives market
3. Market trends in the global automotive adhesives market
4. Historical, current and forecasted market size data for segments based on type of resins (polyurethanes, epoxy, silicone, others)
5. Historical, current and forecasted market size data for segments based on technology (hot melt, water based, solvent based)
6. Historical, current and forecasted market size data for segmentation based on application (white body, power train, others)
7. Historical, current and forecasted market size data for segments based on type of vehicle (passenger vehicle, light commercial vehicle, heavy commercial vehicle)
8. Historical, current and forecasted market size data for segments based on geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa)
9. Analysis of the competitive landscape and profiles of the major companies operating in the market
o Understand the demand for global automotive adhesives to determine the viability of the market
o Identify the developed and emerging markets where automotive adhesives are sold
o Identify the challenge areas and address them
o Develop strategies based on the drivers, trends and highlights for each of the segments
o Evaluate the value chain to determine the workflow and to get an idea of the current position where you are placed
o Recognize the key competitors of this market and respond accordingly
o Knowledge of the initiatives and growth strategies taken up by the major companies and decide on the direction for further growth
o Define the competitive positioning by comparing the products and services with the key players in the market
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
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On June 8th, 2022, the Bureau of Economic Analysis and U.S. Census Bureau released a report detailing the recovery of the U.S. market and international trade. The report highlighted the significant growth in exports and imports, with exports reaching $300 billion in April 2022, an increase of $13.4 billion, and imports amounting to $294.5 billion, increasing by $17.4 billion. Despite the impact of COVID-19 on the global economy, the U.S. market is showing signs of recovery.
However, the Healthcare/ICT/Chemical industries are still feeling the effects of the pandemic, which is creating a large market for Automotive Adhesives. As the recovery of the U.S. market continues, there will be a direct impact on these industries, and the demand for Automotive Adhesives is likely to increase. The report highlights the need for businesses to stay informed about market trends and adjust their strategies accordingly to take advantage of emerging opportunities in this evolving landscape.
Intricacies of COVID-19 Impact Analysis:
The pandemic of COVID-19 has also reduced the availability of and demand for non-COVID-19-related medical treatment. A wide range of treatments, including emergency care for acute diseases, routine check-ups, and recommended cancer screenings, are being postponed or avoided by patients. Undiagnosed illnesses and a failure to intervene early will have serious long-term health consequences. COVID-19 has accelerated a variety of existing and emerging healthcare trends, including changing consumer attitudes and habits, the convergence of life science and health care, rapid advances in digital health technologies, and new talent and care delivery models, to name a few.
In-depth Analysis of the Russia-Ukraine War Impact:
Global industries were impacted by the Russia-Ukraine War, which started in February 2022. There have been widespread announcements of strict travel restrictions over Ukrainian airspace. The market in 2022 has been damaged by the Russia-Ukraine War.
The conflict between Russia and Ukraine raises defense spending and fortifies NATO nations’ armed forces. Due to Russia’s invasion, the majority of European nations have raised their defense budget. Germany earmarked USD 109 billion, which is more than the whole cost of the military in 2021, increasing its defense spending above 2% of GDP.
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Some Questions Answered in the Automotive Adhesives Market Report:
- What is the projected size of the global Automotive Adhesives market in 2030, and what growth rate is expected?
- What are the primary drivers of growth in the global Automotive Adhesives industry?
- What are the major market trends that are affecting the expansion of the Automotive Adhesives market?
- What obstacles must be overcome in order to achieve sustained growth in the Automotive Adhesives market?
- What opportunities and threats do vendors in the global Automotive Adhesives market face?
- What are the raw materials and manufacturing equipment used in the production of Automotive Adhesives, and what is the manufacturing process?
- What are the different types and applications of Automotive Adhesives, and what is the market share of each type and application?
- What factors, such as trends, challenges, and risk factors, are currently shaping the growth of the Automotive Adhesives market?
- What factors are driving the growth of the Automotive Adhesives market in the top regions worldwide?
- Who are the major players in the global Automotive Adhesives market, and what strategies are they employing to succeed?
- What industrial trends, drivers, and challenges are influencing the expansion of the Automotive Adhesives market?
- What are the main findings of a five forces analysis of the global Automotive Adhesives market?
To gain a better understanding of market conditions, a Five Forces analysis is conducted, which includes an assessment of the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
Additionally, a PESTLE analysis is performed to evaluate the external factors that may impact the market:
- Political factors: This includes political policies and stability, as well as trade, fiscal, and taxation policies.
- Economic factors: Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates are all considered under this category.
- Social factors: Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles are taken into account when analyzing the social factors that may affect the market.
- Technological factors: Changes in digital or mobile technology, automation, research, and development are evaluated to determine the potential impact on the market.
- Legal factors: Employment legislation, consumer law, health and safety regulations, and international trade restrictions are among the legal factors that may affect the market.
- Environmental factors: Climate, recycling procedures, carbon footprint, waste disposal, and sustainability are all taken into consideration when assessing the potential impact of environmental factors on the market.
Our Automotive Adhesives Market Report is a comprehensive analysis of the market, providing valuable insights for businesses looking to invest in this industry.
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