Automotive Adhesives Market Analysis With Opportunity Segments For 2024-2033

The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

LONDON, GREATER LONDON, UK, July 19, 2024 /EINPresswire.com/ -- The automotive adhesives market has experienced robust growth in recent years, expanding from $5.36 billion in 2023 to $5.72 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to strong economic growth in emerging markets, growth in world population, government support for the automobile industry, growing preference towards enhanced user comfort, safety and convenience, and increasing focus on light-weighting (vehicle weight reduction).

Strong Future Growth Anticipated
The automotive adhesives market is projected to continue its strong growth, reaching $7.49 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to global population growth and urbanization, rapid growth in e-commerce, favorable government initiatives and focus on electric vehicles (EVs).

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Growth Driver Of The Automotive Adhesives Market
The rise in demand for lightweight, low-carbon-emitting vehicles is expected to propel the growth of the automotive adhesives market. With the implementation of stricter emissions laws as a result of increased exhaust emissions, automobile manufacturers are focusing on producing lightweight automobiles to reduce CO2 emissions. Automotive adhesives are used to replace nuts and bolts, rivets, welding, and more to make vehicles lighter and tougher, which improves fuel economy and emissions.

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Major Players And Market Trends
Key players in the automotive adhesives market include Henkel & Co. KGaA, 3M Company, Arkema, Sika AG, H.B. Fuller, Illinois Tool Works Inc., PPG Industries, Dow Inc., Avery Dennison, Huntsman, Benson Polymers Limited, Acme Corp, Chadha Corporation Pvt. Ltd., Adfast Polymers, Proten Exim Private Limited, Hunan Magpow Adhesive Group Co. Ltd., Wuhan Boli Chemical Ltd., Zibo Chico International Co. Ltd., Tengxin Chuzhou New Material Co. Ltd..
The launch of new adhesives is a key trend in the automotive adhesives market. New product launches increase the product portfolio of a manufacturer and help boost market share.

Segments:
1) By Resin Type: Polyurethane, Epoxy, Acrylics, Silicone, SMP, MMA, Other Resin Types
2) By Adhesive Type: Structural, Tapes And Films, Threadlocks And Retainers, Liquid Gaskets, Automotive Adhesives
3) By Vehicle Type: Passenger Cars, LCVs, Trucks, Buses, Aftermarket
4) By Application: BIW, Glazing, Powertrain, Paint Shops, Upholstery

Geographical Insights: North America Leading The Market
North America was the largest region in the automotive adhesives market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of automotive adhesives.

Automotive Adhesives Market Definition
Automotive adhesives are used as binding substances by automotive equipment manufacturers (OEMs) to bond different substrates of metal, eliminating the need for welding and mechanical bolts, welds, and rivets. Adhesives are lightweight components that are used to join metals, composites, plastics, and other materials together. In the automotive sector, adhesives are used to join various automobile components, such as closures and structural modules.

Automotive Adhesives Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Automotive Adhesives Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on automotive adhesives market size, automotive adhesives market drivers and trends, automotive adhesives market major players, automotive adhesives competitors' revenues, automotive adhesives market positioning, and automotive adhesives market growth across geographies. The automotive adhesives market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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