NEW YORK, Jan. 11, 2018 (GLOBE NEWSWIRE) -- The global automotive adhesive and sealants market is expected to expand at a CAGR of 7.9% during 2017 – 2023 to reach 9,219.9 USD by 2023. Factors propelling the growth of automotive adhesive and sealants market include increasing usage of lightweight material in automotive industry, prompting greater usage of adhesive and sealants for better integrity of substrate and materials used. Further technological advancement in the operation of adhesives and significantly growing automotive industry in Asia-Pacific developing economies is providing boost to the growth of automotive adhesive and sealants market. The report segments the automotive adhesive and sealants market by Type (Epoxy, Polyurethanes, Rubber, PVC, Hot Melts, Acrylics, Silicones, others), by Application (BIW ((Structural, Non-Structural) Paint shop, UIW and Power Train, Assembly, Others), by Vehicle Type (Passenger Cars, Light Commercial Vehicle, Heavy duty vehicles, others), and by region (North America, Europe, Asia-Pacific, Middle East and Africa (MEA), South America). The report studies the global automotive adhesive and sealants market over the forecast period (2017-2023).
Browse full research report with TOC on “Global Automotive Adhesive and Sealants Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2023” at: https://www.energiasmarketresearch.com/automotive-adhesive-and-sealants-market-outlook/
Automotive adhesives and sealants are binding substance used by automotive original equipment manufacturers (OEMs) to bond different substrate of metal, eliminating the need for welding and mechanical bolts, welds and rivets. Adhesive ranges from thermoplastic and reactive hot melts to pressure sensitive and dispersion adhesives. Adhesives and sealants play an important role in various applications ranging from interior, exterior to electronics and offer solution to reduce vehicle weight.
Key findings of the Global Automotive Adhesive and Sealants Market
- The polyurethane segment is accounted to hold the largest share of automotive adhesive and sealants market in 2016. The high consumption of polyurethanes in various application such as BIW and assembly is driving its demand in automotive sector primarily in passenger cars
- Epoxy based adhesive segment is expected to witness high growth rate over the forecast period. Epoxies find their way into automobiles primarily through electrical and electronic assemblies. The ability of epoxy based adhesive and sealants for better integrity of various substrates such as aluminum and carbon fiber is providing the boost for greater demand in automotive industry
- BIW application in automotive manufacturing is accounted to hold the major share in terms of adhesive consumption. Epoxy, acrylics, and polyurethanes for structural bonding, and rubber and PVC for non-structural bonding and sealing are the major types of adhesives and sealants in the BIW stage
- Passenger cars segment was the largest segment in 2016, and is expected to remain the largest segment by value and volume consumption
- Geographically, Asia-Pacific is the largest market for automotive adhesive and sealants market in 2016. The growth in the region is primarily due to larger production of automobiles globally
- Key players in automotive adhesive and sealants Market are BASF SE, Bostik , H.B. Fuller & Co., Evonik Industries, The 3M Company, Franklin Adhesives & Polymers, Henkel AG & Co KGaA, Sika AG, The Dow Chemical Company among others.
Automotive Adhesive and Sealants - Penetrating its Application in Motor Vehicles
Adhesives and sealants being a crucial element of automotive manufacturing are being used in motor vehicles ranging from sports cars to heavy trucks. Beyond traditional applications, such as windshields, brake shoes and threadlockers, adhesives have penetrated into applications which otherwise would have performed only through thermal and mechanical joining methods, including the frame, body, dashboard, engine and weather stripping. As automobiles of present constitute more of plastic and composite parts, mechanical fasteners are not always practical for attaching them. Application of adhesives and sealants enables automakers to simplify their assembly processes. Parts that are bonded together don’t need holes to be drilled or punched, and assemblers don’t need to measure torque or double-check fastening operations. Thus, adhesive and solution not only maintain the integrity of surfaces in vehicle also increases the fuel economy and is considered as an integral part in vehicle manufacturing and offer pool of opportunity for the supplier side and OEMs as well.
Automotive Adhesive and Sealants Market - Regional Insight
North America region represent key market for the growth of automotive adhesive and sealants market. All major OEMs in the region, such as Ford Motor Company and General Motor Company are incorporating more untraditional substrates into their vehicles, hence, requiring more adhesives and sealants volume, driving its demand in the region. Asia-Pacific is expected to be the fastest growing market for automotive industry. The production volume for passenger car and LCV segment in Asia-Pacific accounted for more than half of the global production. The increasing production in the region is complimented by intensifying demand for passenger cars and LCV in the region. The increasing economy and improving standards of living in countries, such as China and India are the factors resulted in increased sale volumes of adhesive and sealants. Further, the increase in automotive production in Thailand and Indonesia would drive the usage of adhesives and sealants in the region. Europe automotive has gone through major changes owing to stringent emissive regulation prompting greater usage of materials light in weight to increase the fuel economy.
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