Adhesive is an organic or inorganic chemical material that can be applied to either one or both surfaces to be joined together. It can be extracted naturally, or it can be generated synthetically. The adhesives offer essential advantages to the finished product over other binding methods such as mechanical fastening, thermal bonding, welding, stitching, etc. Some of the fundamental physical properties of automotive adhesives include the ability to connect various types of materials, to spread stress evenly through joints and lines, and to improve the design versatility of the finished product. Automotive adhesives can be permanent or temporary, weak or solid, flexible or rigid depending on the form of adhesive. Some sealants have adhesive-like properties, commonly known as adhesive sealants or structural sealants. The product has extensive applications in the automotive industry, including the exterior, interior, hooded parts, embedded electronic systems, and body-in-white (BIW).
Competitive Leaderboard:
The Prominent Players operating in the Global Automotive Adhesives are 3M (US), Henkel Co. KGaA (Germany), H.B. Fuller Company (US), BASF SE (Germany), Bostik (US), Illinois Tool Works Inc. (US) DowDuPont (US) Sika AG (Switzerland), PPG Industries (US), Solvay S.A (Belgium), Jowat AG (Germany), and Akzo Nobel N.V. (the Netherlands), among others.
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Segmentation:-
The global automotive adhesives market has been segmented by resin type, technology, vehicle type, application, and region.
Based on resin type, the global market has been categorized as polyurethane (PU), acrylic, epoxy, silicone, polyamide (PA), styrene block copolymer (SBC), and others.
Based on technology, the market segment has split the global market into the solvent-based, water-based, hot melt, pressure-sensitive, and others.
Based on vehicle type, the global market has been divided into passenger cars, light commercial vehicles (LCVs), medium and heavy commercial vehicles (M / HCVs), and others.
Based on the application, the global automotive adhesives market has been classified as body-in-white, powertrains, powertrains, interior, exterior, engine, embedded system, and others.
Based on region, the global automotive adhesive market has segmentedinto five regions — the AsiaPacific, North America, Europe, Latin America, and the Middle East Africa.
AsiaPacific accounted for the largest market share in 2018 and is projected to have the highest CAGR in the forecast period. This is mainly due to the increased demand for the product in the growing automotive sector in the country. China, India, South Korea, and Japan are expected to be significant contributors to regional market development.
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Europe held the second-largest market share in 2018. The nations, including Germany, the United Kingdom, Italy, France, and Spain, are the key contributors to the global market due to the growth of the automotive industry. The increasing demand for the product from prominent global luxury car manufacturers in the region are also expected to fuel regional market growth. North America is also likely to see a steady rise in the global automotive adhesives market. The US is expected to make a significant contribution to regional market growth by increasing the production and sale of automobiles.
The Middle East Africa is expected to see substantial growth in this market due to the high growth potential of the automotive industry in the region. Turkey and South Africa are projected to be significant contributors to the growth of the regional economy. Latin America is expected to have a good CAGR with a restoration of economic and political stability in Brazil, Venezuela, and Colombia.
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