Automotive adhesives are chemical compounds usually used by the automobile and manufacturing industries. These eliminate the need for welding, shaft works and mechanical rivets. They are gaining strong popularity due to their associated benefits and related cost savings.
The global automotive adhesive market was valued at $ 4.03 billion in 2016, and will grow to reach $ 6.53 billion by 2022 at a CAGR of 8.41%. The current usage of automotive adhesives lie between the limit of 30 pounds to 40 pounds per vehicle (13.6 kg to 18.0 kg).
Growth By Region:
Asia-Pacific held the largest share in the global automotive adhesive market in 2016. It is expected to remain the largest market due to higher production of cars and light commercial vehicles in China and India. Europe is also expected to witness significant growth over the forecast period due to rise in automotive production. China still remains the highest consumer for adhesives in the automotive industry and is expected to remain so for the end of the forecast period.
Drivers Vs. Constraints:
The major drivers for this market are increasing use of lightweight materials in vehicle manufacturing and the vanishing use of mechanical fasteners, such as screws, nuts, bolts and welds with adhesives to make vehicles lighter. Some constraints of using adhesive are the curing time and environmental issues with using adhesives which may lead to negative implications.
Stringent regulations on volatile organic chemical (VOC) emission is an obstruction to the market, as solvent-based adhesives (vinyl acetate, resins, rubber and others) have an affinity to form ozone on reaction with nitrogen oxides which is a major toxic compound. The rising popularity of environment-friendly adhesives over traditional solvent-based and water-based adhesives acts as an opportunity for the market to grow.
Industry Structure and Updates:
- Henkel announces a new production plant in India to be set by 2018 that will double its production capacity and will be jointly ventured by Henkel Anand. ARALDITE 2021-1 and ARALDITE 2022-1, released by the Huntsman advanced materials have won rave reviews for their non-sagging and gap-filling properties which enable easy processing and make vertical applications possible making it suitable for aftermarket operations, repairs, lights, headlamps and automotive works
- The automotive industry is gradually yet slowly replacing welding activities of engine parts such as assembly, maintenance and repair with adhesives and sealants products to reduce the vehicle weight, which in turn increases fuel efficiency. A new sealant, Hotver A+, has been created that allows old and derelict historic buildings and monuments to be energy efficient. The Fenzi group has created it to meet the EN1279 standard by devising a glass sealant that produces low gas leakage and moisture penetration
1. Research Methodology
2. Executive Summary
3. Market Overview
- Industry Value Chain Analysis
- Porter's 5 Forces
4. Market Dynamics
5. Global Automotive Adhesives market Segmentation, Forecasts and Trends - by Revenue
6. By Resin Type
7. By Vehicle Type
- Passenger Car
- Heavy Trucks
8. By Application
- Paint shop
9. By Region
- North America
- Asia Pacific
- New Zealand
- Rest of the World
10. Vendor Market Share Analysis
11. Company Profiles
- DuPont and Dow Chemical
- H.B. Fuller
- Unique Fabricating
- NEXTEV TCR
- Royal Adhesives and Sealants, LLC
12. Industry Structure
- Industry M&As, Consolidations
- Investment Opportunities
- Global Automotive Adhesives Market - Road Ahead