Global Automotive Adhesive and Sealants Market to Witness 6.1% CAGR During 2018–2024

The global automotive adhesives and sealants market is expected to reach USD 13.6 billion by 2024 and is also expected to witness CAGR of 6.1% during the forecast period 2018 – 2024. It has been observed that automobile manufacturers are majorly concentrating upon automotive constituents that are developed from thermoplastic elastomers to upgrade automobiles performance and manufacture vehicles that are lightweight. Moreover, increasing concerns about greenhouse gas emissions and fuel consumption is projected to bolster the demand for automotive adhesive and sealants market in passenger as well as commercial vehicles in the near future. Increasing regulations for fuel by the government agencies, enhanced emphasis upon the utilization of insubstantial constituents and increased prominence upon safety norms and regulations are the major factors that are driving the growth of global automotive adhesive and sealants market.

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It is considered that approximately 5% to 8% of fuel is saved when the weight of the automobile is reduced. Additionally, the decreased weight of the automobile assists in managing the CO2 emission from the vehicles during its complete life span. Moreover, automobile manufacturers are concentrating majorly upon automotive constituents that are developed from thermoplastic elastomers to upgrade automobiles performance and manufacture vehicles that are lightweight.

Globally industry players are leveraging market growth by developing strategies to advance stiffness n vehicles, enhance crash robustness and decrease fatigue of the material, which is ultimately concentration upon the reduction of weight of the vehicle. The key players are concentrating upon enhancing the integrity and design of the vehicle along with meeting the increasing demand of electric vehicles of the consumers that is ultimately contributing towards the growth of global automotive adhesive and sealants market.

Increasing disposable income, mounting economy and improved standards of living of the citizens in countries such as China and India, are the major factors attributed towards the increasing growth of automotive adhesive and sealants market. Asia-Pacific accounted for largest share in the global automotive adhesive & sealant market in 2017 and is further expected to become largest revenue holder in this market by 2024. Extensive production volume and stringent government regulations in the automotive sector in this region has majorly contributed towards the popularity of adhesive and sealants.

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The key players are concentrating upon enhancing the integrity and design of the vehicle along with meeting the increasing demand of electric vehicles of the consumers that is ultimately contributing towards the growth of global automotive adhesive and sealants market. The key companies operating in the global automotive adhesive & sealants market include Henkel AG & Co. KGaA, 3M Company, Dow Chemical Co., Kommerling, PPG Industries, Inc., Permatex, Krayden, Inc., and Sika AG.

Global Automotive Adhesive and Sealants Market Coverage

Application Insight and Forecast 2014 - 2024

UTH and Power Train

BIW

Assembly

Paint Shop

Type Insight and Forecast 2014 - 2024

Polyurethanes

Rubber

Epoxy

Acrylics

Silicones

PVC

Hot Melts

Geographical Segmentation

Automotive Adhesive and Sealants Market by Region

North America

U.S.

Canada

Europe

Germany

U.K.

France

Russia

Italy

Czech Republic

Spain

Rest of Europe

Asia-Pacific

Japan

China

India

South Korea

Thailand

Indonesia

Rest of Asia-Pacific

Latin America

Brazil

Argentina

Mexico

Rest of Latin America

Middle East and Africa

Saudi Arabia

South Africa

Rest of Middle East and Africa

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