Automotive Adhesives Market 2022: Detailed analysis and growth trends post-COVID-19 outbreak

Stratview Research, a global market intelligence firm, has launched a new research report on Automotive Adhesives Market By Resin Type (Polyurethane, Epoxy, Acrylic, Silicone, SMP, MMA, and Others), by Application Type (Body in White, Paint Shop, Assembly, and Powertrain), by Vehicle Type (Passenger Car, LCV, Truck, Buses, and Aftermarket), ), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).

As per the analysis, the Automotive Adhesives Market size was valued at USD 7 billion in 2021 and is likely to grow at a CAGR of 5.84% during the forecast period to reach USD 10.45 billion in 2028, according to Stratview Research. Furthermore, the report offers thorough insights on the market growth drivers, challenges, and upcoming trends impacting the overall market environment.

What are automotive adhesives?

Automotive adhesives are the most versatile bonding agents used to make cars lighter and tougher. In the automotive market, adhesives are used to manufacture engines, body components, gearboxes, safety systems, seat systems, and sub-assemblies. They also help to cut down on noise, vibration, and other harsh characteristics.Companies profiled -

Below given is the list of key players mentioned in the report -

• Arkema Group

• DuPont

• Huntsman Corporation

• Henkel AG & Co. KGaA

• H.B. Fuller Company

• Sika AG

• The 3M Company.

Market evaluation -

The COVID-19 outbreak has adversely affected most of the end-use industries and is still spreading and taking major economies in its grip and has diminished the market conditions. Experts at Stratview Research stay in touch with the key players in the market to keep themselves updated with all the upcoming trends, challenges, market strategies which can be helpful for businesses to survive during this pandemic.

Based on the resin type, the market is segmented as polyurethane, epoxy, acrylic, silicone, SMP, and MMA. The polyurethane segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period. The wide use of polyurethanes in the automotive adhesives market, owing to their excellent properties, such as high elongation and stronger bonding, is driving the growth of this segment.

Based on the application type, the automotive adhesives market is segmented as body in white, paint shop, assembly, and powertrain. The body in a white segment dominated the market in 2021 and is expected to remain dominant during the forecast period. Epoxy and polyurethanes are the majorly used products in the body in the white application.

Based on the vehicle type, the market is segmented as passenger cars, LCVs, trucks, buses, and aftermarket. The passenger car segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period. Increasing production of electric vehicles is expected to drive the growth of this segment during the forecast period.

In terms of regions, Asia-Pacific is estimated to be the largest as well as fastest-growing automotive adhesives market during the forecast period, with China, Japan, India, and Australia being the major countries with lucrative growth opportunities. The growth of the market is driven by the growth of various end-use industries, such as body in white, paint shop, assembly, and powertrain, which is generating huge demand for automotive adhesives and the presence of a large number of automotive adhesive manufacturers in the Asia-Pacific region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

About Stratview Research-

Stratview Research is a global business intelligence firm having a strong and experienced team of industry professionals and research analysts. It has a wide clientele across all the major industries worldwide. Stratview Research currently serves a broad spectrum of industries including but not limited to Energy Chemicals, Advanced Materials, Automotive, and Aerospace. At Stratview, our aim is to build long term relations with our clients through unparalleled service.

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