The report "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 2021",
The automotive adhesives market size is estimated to grow from USD
4.03 Billion in 2016 to USD 6.05 Billion by 2021, at a CAGR of 8.5%
from 2016 to 2021.
Currently, the trend of making lightweight and
fuel-efficient vehicles is encouraging the use of aluminum and other
materials to decrease the weight of vehicle, which is boosting the use
of adhesives in automobiles.
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Body in White is the largest application segment of the automotive adhesives market
Automotive adhesives are used in various
applications. Body in white, paint shop, powertrain, and assembly are
the main applications considered in the report. Globally, the body in
white application held the largest share of the automotive adhesives
market, in terms of volume, in 2015. Better toughness, enhanced
strength, and reduced weight are achieved by using automotive adhesives
in body in white. The assembly application segment is estimated to grow
at the highest CAGR between 2016 and 2021 among all applications
considered.
Polyurethane is the largest resin type in the automotive adhesives market
Various resin types considered in the automotive
adhesives market are polyurethane, epoxy, acrylic, silicone, SMP,
polyamide, and others. Polyurethane adhesive is currently the dominant
adhesive type in the automotive adhesives market, followed by acrylics
adhesives. The SMP adhesives segment is estimated to grow at the highest
CAGR between 2016 and 2021 due to its superior properties such as the
ability of bonding on different surfaces and UV & heat stability.
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Rising demand in Asia-Pacific is the major driver of the automotive adhesives market
Asia-Pacific is estimated to be the fastest-growing
market, in terms of both volume and value, during the forecast period.
Emerging markets in Asia-Pacific such as China, India, South Korea, and
Southeast Asian countries are attracting global players to set up their
manufacturing base in this region. In countries, such as China and
India, the wide customer base is pulling manufacturers to cater the
increasing demand of technologically advanced and quality products.
Increased investments in various technological, infrastructural, and
R&D sectors are driving the automotive adhesives market in the
Asia-Pacific region.
Key Market Players:
Companies such as Henkel AG & Company (Germany), Bostik SA (France),
H.B. Fuller (U.S.), 3M Company (U.S.), The Dow Chemical Company (U.S.),
Sika AG (Switzerland), PPG Industries, Inc. (U.S.), and Illinois Tool
Works Corporation (U.S.) are the key players in the global automotive
adhesives market.
