The North America Automotive Adhesives & Sealants Market is projected to register a CAGR of 5.52%
- Largest Segment by Technology - Reactive: In North America, reactive technology has registered the highest market share due to its wide applications for assembling, repairing, thread-locking, and others in the automotive industry.
- Largest Segment by Resin - Polyurethane: Polyurethane resins have the largest share owing to their wide applications as adhesives and sealants in the automotive industry, specifically for both interior and exterior applications.
- Largest Segment by Country - United States: The United States has dominated the market, owing to the huge manufacturing operations along with the demand for electric vehicles in the country.
- Fastest-growing Segment by Country - Mexico: With the increasing manufacturing and assembly operations, along with the rising demand for automotive exports from the country. Mexico is forecasted to be the fastest-growing country in the coming years.
Key Market Trends
Polyurethane is the largest segment by Resin.
- In the North American automotive adhesives and sealants market, polyurethane resins cover the largest share. The usage of polyurethane adhesive in North America is higher than other resins. The main reason behind this factor is that the region includes production facilities to a large extent. From 2017 to 2019, the consumption growth rate reduced steadily and recorded about -3%, and this is due to the reduction in automotive production. After the pandemic, consumption leads to a growth of 3%. Polyurethane adhesives are registering a CAGR of 3.1% between 2022 to 2028.
- On the other hand, epoxy and acrylic adhesives also show their great presence in the automotive adhesives market. However, for epoxy, the upcoming year could be a great challenge as the raw materials used to produce epoxy adhesives are hazardous in nature and, thus, are getting regulated by the US government. Epoxy adhesive is the second largest consumed material, with a CAGR of about 3.14% from 2022 to 2028. Epoxy adhesives are followed by acrylic adhesives, which register a CAGR of about 3.01% between 2022 to 2028.
- Adhesives, such as cyanoacrylate and silicone sealants, are on a booming trend. The adoption of sustainability in the automotive industry is getting increased widely, and EV production is increasing to a large extent. Owing to this, the usage of these adhesives for electronic component assembly is increasing, which, as a result, may lead to increased demand in the coming years. Cyanoacrylate and silicone adhesives recorded a CAGR of above 2.5% in terms of volume during the forecast period (2022-2028).
United States is the largest segment by Country.
- The North American automotive adhesives and sealants market is dominated by the United States due to the huge automotive production capacity of the country. The United States ranks 2nd globally in automotive production, with 9.17 million produced in 2021, whereas Mexico produced 3.1 million units and Canada produced 1.1 million units.
- The growing trend of 'bonding instead of welding' has significantly contributed to the demand generated for automotive adhesives and sealants in the region. As automakers are always innovating to make vehicles lighter to save fuel and reduce CO2 emissions, usage of adhesives for plastic roofs, bumpers, or crash-relevant parts - bonded joints became an effective alternative to traditional joining procedures, such as screws, rivets, or welding.
- Polyurethane-based adhesives and sealants are most commonly used in the automotive industry in the North American region occupying a share of 26.3% in 2021 due to their flexibility, like wide operating temperature range, heat cured and moisture cured, and paintability. Epoxy adhesives and sealants are the second most commonly used among other resin types, with a share of 21.5% in 2021 because of the stronger metal-to-metal bonding property.
- In 2028, the share of acrylic adhesives in the North American region is expected to grow up to 20% from 16% in 2021 due to their ability to bind to plastic and composite materials to lighten the weight of vehicles and applicability in battery assembly operations.
Competitive LandscapeThe North America Automotive Adhesives & Sealants Market is fairly consolidated, with the top five companies occupying 75.50%. The major players in this market are 3M, H.B. Fuller Company, Henkel AG & Co. KGaA, Huntsman International LLC and Sika AG (sorted alphabetically).
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Table of Contents1 EXECUTIVE SUMMARY & KEY FINDINGS
2 REPORT OFFERS
3.1 Study Assumptions & Market Definition
3.2 Scope of the Study
3.3 Research Methodology
4 KEY INDUSTRY TRENDS
4.1 End User Trends
4.2 Regulatory Framework
4.3 Value Chain & Distribution Channel Analysis
5 MARKET SEGMENTATION
5.1.7 Other Resins
5.2.1 Hot Melt
5.2.5 UV Cured Adhesives
5.3.3 United States
5.3.4 Rest Of North America
6 COMPETITIVE LANDSCAPE
6.1 Key Strategic Moves
6.2 Market Share Analysis
6.3 Company Landscape
6.4 Company Profiles
6.4.2 Arkema Group
6.4.3 AVERY DENNISON CORPORATION
6.4.6 H.B. Fuller Company
6.4.7 Henkel AG & Co. KGaA
6.4.8 Huntsman International LLC
6.4.9 Illinois Tool Works Inc.
6.4.10 Sika AG
7 KEY STRATEGIC QUESTIONS FOR ADHESIVES AND SEALANTS CEOS
8.1 Global Adhesives and Sealants Industry Overview
8.1.2 Porter’s Five Forces Framework
8.1.3 Global Value Chain Analysis
8.1.4 Drivers, Restraints, and Opportunities
8.2 Sources & References
8.3 List of Tables & Figures
8.4 Primary Insights
8.5 Data Pack
8.6 Glossary of Terms
A selection of companies mentioned in this report includes:
- Arkema Group
- AVERY DENNISON CORPORATION
- H.B. Fuller Company
- Henkel AG & Co. KGaA
- Huntsman International LLC
- Illinois Tool Works Inc.
- Sika AG