The global automotive adhesives market is anticipated to grow at a considerable CAGR of 3.7% during the forecast period (2022-2028). Automotive adhesives are the chemical compounds used in motor vehicles for different purposes, including bonding, gasketing, thread-locking, and others. The major factor attributing to the growth of the global automotive adhesives market is the increasing number of motor vehicle production across the globe. According to the 2021 Production Statistics report published by the International Organization of Motor Vehicle Manufacturers (OICA), around 80 million motor vehicles were produced across the globe in 2021. Among these, around 23 million commercial vehicles including light commercial vehicles and heavy commercial vehicles were manufactured and around 57 million passenger cars were produced in 2021. Thus, increasing the application of automotive adhesives in motor vehicles.
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The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instances-
- In July 2020, Arkema Group acquired Fixatti, a thermos-bonding adhesive powder manufacturer. This acquisition will strengthen the global offering of hotmelt adhesive solutions for industrial applications in industries including automotive, and others.
- In September 2019, Sika AG acquired Crevo-Hengxin, a China-based silicone sealants & adhesive manufacturer. This acquisition will benefit Sika AG in expanding its target market of sealing and bonding products in the Asia Pacific region including China.
- In April 2019, Henkel Adhesive Technologies opened its new OEM application center in Rocky Hill, CT. The new facility will benefit Henkel in expanding its capabilities to design customized applications, technologies & processes and deliver innovative solutions to its customers as per requirement.
- In February 2019, Huntsman Corp. launched two new adhesives called “Araldite 2050” and “Araldite 2051”. These are the high-performance, fast-curring, and two-part acrylate adhesive ranges that are meant to sustain in extreme conditions.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Resin Type
- By Technology
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Henkel Adhesives Technologies India Pvt. Ltd., Arkema Group, 3M, Sika AG, and PPG Industries Inc., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Automotive Adhesives Market Report by Segment
By Resin Type
- PU
- Epoxy
- Acrylics
- Silicone
- Polyamide
- Others
By Technology
- Hotmelts
- Water-Based
- Solvent-Based
- Pressure Sensitive
- Others
By Application
- Body, Power Train
- Paint Shop
- Assembly
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