Automotive Adhesives Market to Flourish in Emerging Economies

Adhesives have nowadays become an integral part of the automotive industry, which offer great advantages over traditional manufacturing methods. These adhesives offer great flexibility in production, reduce the overall weight of the vehicle, and increase fuel efficiency, thereby boosting the demand for adhesives in the automotive industry.

Drivers and Opportunities

The growth of the global automotive adhesives market is primarily influenced by the following factors:

  • Growing demand for adhesives from APAC region
  • Need for lightweight and low carbon-emitting vehicles
  • Developments in technology in end-user industries
  • Rising need for more fuel efficiency

Although the market is set to see a good growth ahead, it may face some challenges during the forecast period. Varying prices and availability of raw materials and economic slowdown is likely to hamper the growth of this market.

Market Scenario

Growing at a CAGR of 8.2% during the forecast period, the global automotive adhesive market which was valued at USD 3.74 Billion in 2015 is expected to reach USD 5.56 Billion by 2020. Out of all the regions in this market, Asia-Pacific took up the largest market share in 2015, and is also expected to attain the highest CAGR over the forecast period, with China being the largest consumer of automotive adhesives due to the rise in production of vehicles.

Among applications, the body in white segment held the largest share of the market in 2015, followed by paintshop, assembly, and powertrain. However, the assembly segment is projected to grow at the highest CAGR over the forecast period.

Based on vehicle type, passenger car segment currently dominates the market, and is also expected to witness the highest growth rate between 2015 and 2020, owing to rising sale of passenger cars in emerging economies due to the increase in per capita income.

Henkel AG & Company (Germany), The Dow Chemical Company (U.S.), 3M Company (U.S.), HB Fuller (U.S.), Bostik SA (France), Sika AG (Switzerland), Illinois Tool Works Corporation (U.S.), PPG Industries (U.S.), Jowat SE (Germany), and Cytec Industries (U.S.), among others are some of the major players operating in the global market for automotive adhesives.

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Research Scope

The global market for automotive adhesives has been analyzed and predicted by breaking it down into following categories and sub-categories:

  • Resin Type: Polyurethane, Epoxy, Acrylic, Silicone, SMP, Polyamide, Others
  • Application: Body-in-White, Paintshop, Powertrain, Assembly
  • Vehicle Types: Passenger Vehicles, Buses, Trucks, LCV, Others
  • Geography: North America, Europe, Asia-Pacific, RoW

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