Automotive Adhesives Market Growth & Forecast Analysis | 2022-2028

Market Insights

The automotive adhesives market was estimated at USD 7 billion in 2021 and is likely to grow at a CAGR of 5.84% during 2022-2028 to reach USD 10.45 billion in 2028.

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The ability of adhesives to reduce vehicle weight, increase fuel efficiency, and lower carbon emissions is the key factor driving the demand for automotive adhesives, globally.

Automotive Adhesives Market COVID IMPACT

The pandemic had a huge impact on the automotive adhesive market. Lockdowns and restrictions in the manufacturing and automotive sector in multiple countries have been key issue in holding back the growth of the market during a pandemic.

What are automotive adhesives?

Automotive adhesives are the most versatile bonding agents used to make cars lighter and tougher. In the automotive market, adhesives are used to manufacture engines, body components, gearboxes, safety systems, seat systems, and sub-assemblies. They also help to cut down on noise, vibration, and other harsh characteristics.

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Segment Analysis

By Resin Type

Based on the resin type, the market is segmented as polyurethane, epoxy, acrylic, silicone, SMP, and MMA. The polyurethane segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period. The wide use of polyurethanes in the automotive adhesives market, owing to their excellent properties, such as high elongation and stronger bonding, is driving the growth of this segment.

By Application Type

Based on the application type, the automotive adhesives market is segmented as a body in white, paint shop, assembly, and powertrain. The body in a white segment dominated the market in 2021 and is expected to remain dominant during the forecast period. Epoxy and polyurethanes are the most used products in the body in the white application.

By Vehicle Type

Based on the vehicle type, the market is segmented as passenger cars, LCVs, trucks, buses, and aftermarket. The passenger car segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period. Increasing production of electric vehicles is expected to drive the growth of this segment during the forecast period.

Regional Analysis

In terms of regions, Asia-Pacific is estimated to be the largest as well as fastest-growing automotive adhesives market during the forecast period, with China, Japan, India, and Australia being the major countries with lucrative growth opportunities. The growth of the market is driven by the growth of various end-use industries, such as body in white, paint shop, assembly, and powertrain, which is generating huge demand for automotive adhesives and the presence of a large number of automotive adhesive manufacturers in the Asia-Pacific region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

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Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented into the following categories.

By Resin Type

• Polyurethane
• Epoxy
• Acrylic
• Silicone
• SMP
• MMA

By Application Type

• Body in White
• Paint Shop
• Assembly
• Powertrain

By Vehicle Type

• Passenger Car
• LCV
• Truck
• Buses
• Aftermarket

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Powertrain)

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Key Players

Some of the major automotive adhesive manufacturers are-

• Arkema Group
• DuPont
• Huntsman Corporation
• Henkel AG & Co. KGaA
• H.B. Fuller Company
• Sika AG
• The 3M Company.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the resin types by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and Powertrain, please send your inquiry to sales@stratviewresearch.com.