Automotive Adhesives Market

Market Overview

The global Automotive Adhesives Market size was valued at USD 5.61 billion in 2019 and is predicted to reach USD 9.50 billion by 2030 with a CAGR of 4.9% from 2020-2030. Adhesives are widely used to bond metals, composites, plastics, and other materials in various industries. In automotive, adhesives are used in a wide range of applications, from the integration of small sensors to big vehicle parts.

For instance, they are used to install components in dashboards, door panels, and other components such as electronic devices, light covers, lenses, steel, and alloys among others. Automotive adhesives do not cause any damage to vehicle components and provide a smooth finish as opposed to other traditional methods such as welding, riveting, and clinching.

Due to this, they are also used in making innovative body designs by bonding composite materials, which in turn increases the performance of the vehicle. Moreover, the use of adhesives reduces the overall weight of the automobile, increases body rigidity, improves crash performance, provides high shear strength, and minimizes noise, vibration, and harshness.

Market Dynamics and Trends

The use of adhesives at every stage of automotive production, including engine, body parts, gearboxes, and during the installations of side mirrors, steering wheels, tray systems, safety systems, seating systems, subassemblies, and sound absorbing material assemblies is driving the demand of automotive adhesives. Some other factors fuelling the automotive adhesives market growth include increased vehicle sales, technological advancement in automotive manufacturing, and reduced vehicle weight resulting in improved fuel efficiency and low carbon emission.

Also, adhesives are suitable for automotive applications since they are made up of polyurethane, which does not melt when heated, and has excellent resistance to moisture as well as other chemicals. However, fluctuating prices of adhesives are expected to restrain the market growth to some extent. On the other hand, the greater focus on environmental considerations in the manufacturing industry has been paving the way for automotive adhesives since it helps in reducing carbon emissions.

Market Segmentations and Scope of the Study

The global automotive adhesives market share is categorized based on resin, application, vehicle type and geography. Based on the resin, the market is segmented into polyurethane, epoxy, acrylics, silicone, SMP, MMA and others which includes polysulfide, rubber, and polyamide. Based on the application, the market is divided into body in white, paint shop, assembly, powertrain. Based on vehicle type, the market is bifurcated into passenger car, LCV, truck, bus, aftermarket. Based on the geography, the market is segmented into Asia Pacific, North America, Europe and RoW.

Geographical Analysis

Asia Pacific holds the leading share of automotive adhesives market at present. Rising demand of vehicles due to increase in population and strengthening economy in countries like China and India have led to increased consumption of automotive adhesives. Also, other factors driving the automotive adhesive market growth include government regulations to reduce carbon emission by introducing vehicle that are lightweight and fuel-efficient. This has resulted into the increased production of lightweight vehicles in the region, which in turn is driving the demand of automotive adhesives.

On the other hand, developed countries in North America and Europe are also major markets for automotive adhesives and are expected to reflect stable growth during the forecast period. The key factors driving the growth of automotive adhesive market include the shift of major players towards electric vehicles and hybrid vehicles, where traditional bonding methods cannot be used, along with the growing demand of light weight vehicles and higher usage of sensors. Additionally, stringent emission standards enforced by governments are supporting the growth of the automotive adhesives market in North America and Europe.

Competitive Landscape

The key players of the automotive adhesives market include Henkel & Co. KGaA, Bostik S.A., 3M Company, The DOW Chemical Company, Sika AG, DuPont, Arkema, Jowat AG, Solvay, H.B. Fuller Company. Strategic alliances, acquisitions, and innovations along with R&D are key strategies used by market players to maintain market dominance.

For instance, in February 2019, Huntsman introduced fast-curing two-part acrylate adhesives such as ARALDITE 2050 and ARALDITE 2051. These adhesives are meant to sustain extreme conditions and are designed to accelerate the automotive bonding of thermoplastics, composites, and metals while providing high toughness and resilience to vibrations at a high a temperature range. Also, in May, 2021, DuPont announced that it would invest USD 5 million in Germany and Switzerland to increase its manufacturing capacity and performance of its automotive adhesives product line.

Automotive Adhesives Market Key Segments

By Resin

• Polyurethane

• Epoxy

• Acrylics

• Silicone

• SMP

• MMA

• Others (Polysulfide, Rubber and Polyamide)

By Application

• Body in White

• Paint Shop

• Assembly

• Powertrain

By Vehicle Type

• Passenger Car

• LCV

• Truck

• Bus

• Aftermarket

By Geography

• North America

  • The U.S.

  • Canada

  • Mexico

• Europe

  • The UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Netherlands

  • Finland

  • Sweden

  • Norway

  • Russia

  • Rest of Europe

• Asia-Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand

  • Rest of Asia Pacific

• Rest of World

  • Latin America

  • Middle East

  • Africa

Key Players

• Henkal and Co.KGaA

• Bostik S.A.

• 3M Company

• The Dow Chemical Company

• DuPont

• Sika AG

• Arkema

• Jowat AG

• Solvay

• H.B. Fuller Company

REPORT SCOPE AND SEGMENTATION:

Parameters	Details
Analysis Period	2019–2030
Base Year Considered	2019
Forecast Period	2020–2030
Market Size Estimation	Billion (USD)
Market Segmentation	By Resin (Polyurethane, Epoxy, Acrylic, Silicone, SMP, MMA), by Application (Body in White, Paint Shop, Assembly, Powertrain), by Vehicle Type (Passenger Car, LCV, Truck, Bus, Aftermarket)
Countries Covered	28
Companies Profiled	Henkel & Co. KGaA, Bostik S.A., 3M Company, The DOW Chemical Company, Sika AG, DuPont, Arkema, Jowat AG, Solvay, H.B. Fuller Company.