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Pulished Date August, 2019
ID: 8572
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Automotive Adhesives Market by Resin Type (Polyurethane, Epoxy, Acrylic, Silicone, SMP, Polyamide), Application (Body-in-White, Paint Shop, Powertrain, Assembly), Vehicle Type (Buses, Trucks, LCV), and Region - Global Forecast to 2025

Pulished: August, 2019
ID: 8572
Pages: 170

Automotive Adhesives Market Overview:

The global automotive adhesives market size is estimated to rise from USD 8.5 billion in 2020 to USD 10.4 billion by 2025, expanding at a CAGR of 5.3% during the foreseen period. This increase in market value can be attributed to the strong demand for low-carbon light vehicles. This increase in market value can be attributed to the strong demand for low-carbon light vehicles. Adhesives are the most versatile adhesive agents available today and are used by automakers to make cars lighter and more durable. Adhesives consist of precise blends of synthetic rubber elastomers, resins, and agents or additives used to improve specific characteristics, depending on the end-use. There is a growing demand for adhesives in passenger cars, buses, heavy trucks, and light commercial vehicles, which should stimulate the market over the forecast period.

What Are Automotive Adhesives?

Adhesives are lightweight materials employed to combine metals, composites, plastic, and other materials. They are highly being deployed in the automotive market for joining different vehicle components like closures and structural modules. The rise in the adoption of adhesives among vehicle manufacturers decreases the mass of the vehicle, escalates front & rear lateral body stiffness, improves crash performance, and lessens noise, vibration, and harshness. In addition to that, adhesive bonding results in the formation of new innovative vehicle body designs and combined material plans consisting of high strength steels, nonferrous metals, plastic, and composites. Moreover, adhesives provide high joining strength across diverse substrates and can be employed to attach dashboards, door panels, electronics, light covers, and lenses and also steel and alloyed components. Adhesive, or glue, is an organic or inorganic chemical thing that can be applied either on one or both surfaces, which are meant to be bonded together. It can be available naturally or can be artificially produced. The adhesives confer significant benefits to the final product over the other joining techniques like mechanical fastening, thermal bonding, welding, sewing, and others.

Automotive Adhesives Market segmentation:

By Type of resin.

  • Polyurethane
  • Epoxy
  • Acrylic
  • Silicone
  • SMP
  • Polyamide

By Application:

  • Blank body (BIW)
  • Powertrain
  • Painting workshop
  • Assembly

Based on the region, the global refrigerant is segmented into Asia-Pacific, North America, Europe, Latin America, the Middle East, and Africa.

Automotive Adhesives Market Drivers and Restraints:

Drivers:

 The global automotive adhesives market is showcasing an average expansion owing to the current slowdown in demand in the automotive business and rising employment of these adhesives. Some of the significant physical properties of the automotive adhesives include the ability to join various kinds of materials together, equally distribute the stress across the joint and lines, and improve the design flexibility of the end product. Automotive adhesives may be permanent or temporary, weak or strong, flexible or hard depending upon their kind. There are some sealants, which have adhesive-like qualities that are generally known as the adhesive-sealants or structural sealants. The product finds broad applications in the automotive market, including the exterior, interior, under the hood parts, embedded electronic systems, and body-in-white (BIW).

 The expansion of the market is driven by an increase in sales of automotive adhesives due to underlying strength in vehicle sales, technological developments in the manufacturing of automobiles, and the adoption of smart cars. Furthermore, metallic components are restored with composites to join with adhesives that lead to a reduction of weight of motors and enhancement in fuel efficiency. In addition to that, the deployment of adhesives has resulted in the reduction of noise, vibration, and harshness vehicles that boosts the global automotive adhesives market expansion. Furthermore, the use of an adhesive offers high flexibility and improved esthetic look to the component or part.

 Restraints:

 A major limitation of the global automotive adhesive market growth is longer curing time together with a decrease in resistance at high temperature. Adhesives take longer time in order to offer reliable joining between the two components and to achieve ultimate strength. 

 Opportunities:

 A major driver of the global automotive adhesive market is the capability of an adhesive to join any similar or dissimilar components of various shapes. Brittle materials, like glass, can be joined quickly by an adhesive. Moreover, binding the components or parts with adhesive does not cause deformation or corrosion of the components being linked, supporting the business to grow further.

 Challenges:

 The joining ability of an adhesive reduces as the temperature escalates, which is a critical challenge of the global automotive adhesives market.

Automotive Adhesives Market Regional Analysis:

Market Segmentation based on the region:

  1. North America
    1. U.S
    2. Canada
  2. Europe
    1. Norway
    2. Germany
    3. Sweden
  3. Asia Pacific
    1. China
    2. India
    3. Japan
  4. Latin America
    1. Brazil
    2. Mexico
    3. Argentina
  5. Middle East and Africa

a. Middle East

b. Africa

Asia-Pacific, Eastern Europe, and Latin America hold capability for expansion of the automotive adhesives market. The Asia Pacific is the quickest developing region for the target market owing to the rising call for these adhesives in nations like South Korea, Japan, Vietnam, China, Malaysia, Australia and India. North America and Europe are registered as matured markets and will raise with a low compound annual expansion rate in the coming future. The automotive adhesive business in the U.S. has lost ground to China due to the migration of manufacturing facilities, but the country continues to play a significant role in the adhesives market. South Asia is estimated to show high expansion rates owing to rising disposable income, increasing automotive production and positive government attitude towards manufacturing. Initiatives like “Make in India” tend to drive the manufacturing businesses of the country that boosts expansion in the automotive industry. China is one of the major growth markets for automotive adhesives in the East Asia region.

Furthermore, Latin America accounted for a high market share on the basis of automotive adhesives call. The Middle East & Africa is estimated to showcase considerable expansion in this market due to the high development potential of the automotive business in this region. Turkey and South Africa are expected to be the key contributors to the enlargement of the regional market. Latin America is estimated to register a healthy CAGR with the reviving economic and political stability in Brazil, Venezuela, and Colombia.

Key players:

3M (United States), Bostik (United States), Ashland (United States), BASF SE (Germany), Bemis Associates Inc (United States), DuPont (United States), Covestro AG (Germany), Among the main competitors in the sector, EMS-CHEMIE HOLDING AG (Europe), HB Fuller Company (USA), Henkel AG & Co. KGaA (Germany), Huntsman International LLC. (USA), Illinois Tool Works Inc. (USA), Permatex (USA), LORD Corporation (USA). NITTO DENKO CORPORATION (Japan), Royal Adhesives & Sealants (United States), RPM International Inc. (United States), Trademark of Dow US), ThreeBond Holdings Co. (United States), Wacker Chemie AG (Germany)), etc.

Recent developments:

  • In September 2017, H.B. Fuller Company announced that by acquiring Adhesives and Real Sealants, this acquisition accelerates the achievement of our strategic goal for 2020 to focus on engineering adhesives and other very specific market segments.
  • In August 2017, Huntsman Corporation announced that it is introducing high-performance products designed to meet the challenges of the automotive industry within the Company.
  • PPG declared funding in a 2,100 square foot automotive adhesives laboratory on the company’s present 42-acre manufacturing and research facility in Cleveland, Ohio. The facility that was newly finished will focus on growing and testing structural adhesives, sealants and related products for passenger vehicles, light trucks, SUVs and commercial vehicles. 
  • With Born2Bond™, Bostik brings the latest variety of innovative engineering adhesives made for ‘by-the-dot’ joining applications in selected businesses, like automotive, electronics, luxury packaging, medical devices, and MRO. 

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Study Deliverables                  a

                1.3 Base Currency, Base Year and Forecast Periods                          

                1.4 General Study Assumptions                

2. Research Methodology                                           

                2.1 Introduction                               

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Econometric Modelling      

                                2.2.4 Expert Validation  

                2.3 Analysis Design                         

                2.4 Study Timeline                          

3. Overview                                       

                3.1 Executive Summary                

                3.2 Key Inferences                         

                3.3 Epidemology                              

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)                                    

                4.1 Market Drivers                          

                4.2 Market Restraints                    

                4.3 Key Challenges                         

                4.4 Current Opportunities in the Market                              

5. Market Segmentation                                              

                5.1 Type                              

                                5.1.1 Introduction           

                                5.1.2 polyurethane         

                                5.1.3 epoxy        

                                5.1.4 others       

                                5.1.5 Y-o-Y Growth Analysis, By Type     

                                5.1.6 Market Attractiveness Analysis, By Type   

                                5.1.7 Market Share Analysis, By Type     

                5.2 Application                 

                                5.2.1 Introduction           

                                5.2.2 Blank body              

                                5.2.3 powertrain              

                                5.2.4 others       

                                5.2.5 Y-o-Y Growth Analysis, By Application         

                                5.2.6 Market Attractiveness Analysis, By Application       

                                5.2.7 Market Share Analysis, By Application        

6. Geographical Analysis                                              

                6.1 Introduction                               

                                6.1.1 Regional Trends    

                                6.1.2 Impact Analysis     

                                6.1.3 Y-o-Y Growth Analysis        

                                                6.1.3.1 By Geographical Area

                                                6.1.3.2 By Type

                                                6.1.3.3 By Application

                                                6.1.3.4 By Indication

                                6.1.4  Market Attractiveness Analysis     

                                                6.1.4.1 By Geographical Area

                                                6.1.4.2 By Type

                                                6.1.4.3 By Application

                                                6.1.4.4 By Indication

                                6.1.5  Market Share Analysis      

                                                6.1.5.1 By Geographical Area

                                                6.1.5.2 By Type

                                                6.1.5.3 By Application

                                                6.1.5.4 By Indication

                6.2 North America                          

                                6.1.1 Introduction           

                                6.1.2 United States         

                                6.1.3 Canada     

                6.3 Europe                         

                                6.2.1 Introduction           

                                6.2.2 U.K             

                                6.2.3 Spain         

                                6.2.4 Germany 

                                6.2.5 Italy            

                                6.2.6 France       

                6.4 Asia-Pacific                 

                                6.3.1 Introduction           

                                6.3.2 China         

                                6.3.3 India          

                                6.3.4 Japan         

                                6.3.5 Australia   

                                6.3.6 South Korea           

                6.5 Latin America                             

                                6.4.1 Introduction           

                                6.4.2 Brazil          

                                6.4.3 Argentina

                                6.4.4 Mexico     

                                6.4.5 Rest of Latin America          

                6.6 Middle East & Africa                               

                                6.5.1 Introduction           

                                6.5.2 Middle-East            

                                6.5.3 Africa         

7. Strategic Analysis                                       

                7.1 PESTLE analysis                         

                                7.1.1 Political     

                                7.1.2 Economic 

                                7.1.3 Social         

                                7.1.4 Technological         

                                7.1.5 Legal          

                                7.1.6 Environmental       

                7.2 Porter’s Five analysis                              

                                7.2.1 Bargaining Power of Suppliers        

                                7.2.2 Bargaining Power of Consumers    

                                7.2.3 Threat of New Entrants     

                                7.2.4 Threat of Substitute Products and Services              

                                7.2.5 Competitive Rivalry within the Industry     

8. Market Leaders' Analysis                                        

                8.1 Huntsman International LLC                

                                8.1.1 Overview 

                                8.1.2 Product Analysis   

                                8.1.3 Financial analysis  

                                8.1.4 Recent Developments       

                                8.1.5 SWOT analysis       

                                8.1.6 Analyst View          

                8.2 3M                 

                8.3 Bostik                            

                8.4 Ashland                        

                8.5 BASF SE                        

                8.6 Bemis Associates Inc                              

                8.7  DuPont                        

                8.8 Covestro AG                              

                8.9 HB Fuller Company                  

                8.10 Henkel AG & Co                                     

9. Competitive Landscape                                           

                9.1 Market share analysis                            

                9.2 Merger and Acquisition Analysis                       

                9.3 Agreements, collaborations and Joint Ventures                         

                9.4 New Product Launches                         

10. Market Outlook and Investment Opportunities                                         

Appendix                                           

                a) List of Tables                

                b) List of Figures                              

  • Global,Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of by resin type,by Application,by vehicle type, along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Automotive Adhesives  Market By Region, From 2020-2025( USD Billion )
  2. Global Automotive Adhesives  Market By Type, From 2020-2025( USD Billion )
  3. Global polyurethane Market By Region, From 2020-2025( USD Billion )
  4. Global epoxy Market By Region, From 2020-2025( USD Billion )
  5. Global others Market By Region, From 2020-2025( USD Billion )
  6. Global Automotive Adhesives  Market By Application, From 2020-2025( USD Billion )
  7. Global Blank body  Market By Region, From 2020-2025( USD Billion )
  8. Global powertrain Market By Region, From 2020-2025( USD Billion )
  9. Global others Market By Region, From 2020-2025( USD Billion )

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