Automotive Adhesives Market Demand | Key Players Change The View Of The Face Of Industry By 2027
Overview:
Automotive adhesives are garnering a huge
prominence due to the growing use of multi-material structures in the
automotive manufacturing. It is difficult to join such diverse materials such
as the combinations of steel with lightweight materials like carbon fiber
reinforced plastics with conventional welding. In such scenarios,
lightweight automotive adhesives are used in the construction of automotive
interior parts and electronics.
Over the past few years, the Automotive
Adhesives Market Demand is growing rapidly and pervasively mainly due to
the burgeoning automotive industry worldwide. Moreover, the increasing demand
for lightweight and low carbon emitting vehicles escalate the market on the
global platform, encouraging the use of materials such as aluminum and hence
the more use of automotive adhesives.
Considering the rapid market expansion, Market
Research Future (MRFR) in its recently published study report, asserts that the
global automotive adhesives market is forecasted to grow exponentially by 2022,
registering a staggering CAGR during the review period (2017-2022). The
automotive manufacturing sector generates a vast demand for these adhesives.
Growing technological advancements in the
manufacturing of automobiles and the adoption of smart cars are among some of
the driving forces broadening the use of automotive adhesives. Moreover, the
increase in the use of large adhesive volumes with the increasing complexity in
the design of vehicles is also driving the growth of the market.
On the other hand, fluctuating prices of raw
materials required for the production of automotive adhesives is a key factor
obstructing the market growth. Also, the demand and supply gap of these
raw materials is hindering the market growth equally. To tackle these
situations, key players are working on to strengthen their supply chain
Global Automotive Adhesives Markets – Segments
The MRFR analysis is segmented into three key
dynamics for enhanced understanding.
By Type
: Polyurethane, Acrylic, and Polyamide among others.
By Application : Paint Shop, Assembly,
and Powertrain, among others.
By Regions
: Asia Pacific, North America, Europe, and the Rest-of-the-World.
Global Automotive Adhesives Markets – Geographical
Analysis
Globally, the Asia Pacific region dominates the
global Automotive
Adhesives market demand owing to the increasing adoption of lightweight
materials in the automotive industry. The burgeoning automotive sector in the
region is expected to generate enormous demand for Automotive adhesives during
the review period.
The region is attracting many foreign investors and
encouraging the manufacturers to shift their production bases to the emerging
countries such as Japan, China, and India heading with the ample availability
of cost-competitive logistic in the region such as the land, workforce, and raw
materials required for the production of these adhesives
consequently, countries such as China, Japan, and
India, backed by their growing automotive sectors contribute majorly to the
market in the region. Furthermore, the improving economy in the region is
boosting the demand for automotive adhesives, improving the standard of living
and increasing consumers’ purchasing power.
North America automotive adhesives market emerging
as the fastest growing market accounts for a substantial market share on the
global platform. Factors such as the increased consumption of adhesives in the
well-established automotive sector in the region substantiate the growth of the
regional market.
Also, factors such as the growing investments in
the end-user industry and technological advancement along with the presence of
leading global players boost the growth in the regional market. Witnessing a
broad uptake, the North America automotive adhesives market is expected to
significantly contribute to the GDP of the region throughout the assessment
period.
The Europe automotive adhesives market, heading
with the huge uptake in its flourishing automotive sector in the region is
emerging as a promising market.
The implementation of new regulations proposed by
the government to follow lightweight and biocompatible resins in the automotive
industry is favoring the market growth. Automotive adhesives market in
the UK, Italy, Germany, and France, driven by the growing innovation and
technological advancement are supporting the market growth.
Global Automotive Adhesives Markets – Competitive
Analysis
The highly competitive automotive adhesives market
appears fragmented due to the presence of many large and small-scale players.
These players alongside the new entrants form a competitive landscape.
Significant investments are being made into R&D activities to develop
technically advanced materials.
Key strategies traced from the analysis of recent
proceedings of these players include product launch, agreement &
partnership, expansion, and acquisition. Additional strategic initiatives
adopted by these players include developing state-of-the-art manufacturing
facilities and strong sales & distribution network which help them to
acquire the leadership position in the market.
Manufacturers from the developed region are moving
their production bases to the developing countries of APAC such as China, and
India.
Major Players:
Key players leading the global automotive adhesives
market include Henkel (Germany), The Dow Chemical Company (U.S.), BASF
(Germany), Ashland Specialty Chemical Company (U.S.), 3M Company (U.S.), H.B.
Fuller Company (U.S.), Dynea International Oy (Finland), Hindustan Adhesives
Limited (India), Hexion Specialty Chemicals Inc. (U.S), and Covalence Specialty
Adhesives LLC (U.S.) among others.
Industry/ Innovations/ Related News:
January 24, 2019 --- Yokohama Rubber Co. (Japan),
a leading global manufacturer and seller of tires, industrial products, and
golf products announced the development of a two-component polyurethane
adhesive with high strength and elasticity. Primarily designed for automotive
applications, the new adhesive can also be used in electronic devices exposed
to harsh heat cycles.
January 29, 2019 --- Henkel Corporation (the US),
a leading global manufacturer and supplier of adhesive products launched a
number of new materials featured as part of six different display and demo
areas at the IPC APEX EXPO 2019, taking place in San Diego, California.
Among the range of products include New Loctite
solder materials and fluxes for high-reliability automotive applications, as
well as temperature-stable Loctite GC formulations for low-voiding on QFNs and
LGAs and jetting for ultra-fine-pitch architectures and flexible substrates.
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