The global automotive adhesive market was valued at USD 4.03 billion in 2016, and is expected to reach USD 6.53 billion by 2020 at a CAGR of 8.41%. The current usage of automotive adhesives range from 30 pounds to 40 pounds per vehicle (13.6 kg to 18.0 kg).
Automotive adhesives are the products which help the automotive Original Equipment Manufacturers (OEMs) bond different substrate of metal, hence eliminating the need for welding and mechanical rivets. These are making strong inroads in the industry due to their associated benefits and related cost savings.
Asia-Pacific held the largest share in the global automotive adhesive market in 2016. It is expected to remain the largest market due to increase in production of cars and light commercial vehicles in China and India. Europe is also expected to witness significant growth over the forecast period due to rise in automotive production.
The major drivers for this market are increasing use of lightweight materials in vehicle manufacturing and replacement of mechanical fasteners, such as screws, nuts, bolts and welds, with adhesives to make vehicles lighter and to meet higher fuel economy requirements. Use of adhesives provides superior bonding without compromising the structural disruption of automotive components leading to the integrity of the bonnet. Some constraints of using adhesive are the curing time, environmental issues with using adhesives which may affect its market.
The key companies operating in the global automotive adhesive market include Dow Chemical Co., Henkel AG & Co. KGaA, 3M Company, Kommerling, PPG Industries, Inc., Permatex, Krayden, Inc., and Sika AG.BMW and Volkswagen are incorporating different substrates into their vehicles, hence, requiring more adhesives and sealants volume.
Key Topics Covered:
1. Research Methodology
2. Market Overview
3. Market Dynamics
4. Global Automotive Adhesives market Segmentation, Forecasts and Trends - by Revenue