The global automotive adhesives market size was USD 4.7 Bn in 2022 and is likely to reach USD 8.45 Bn by 2031, expanding at a CAGR of 6.5% during 2023–2031. The market growth is attributed to the rapid increase in the use of adhesives in automobile production in emerging economies.
Automotive adhesives are types of resin primarily used in assembling surfaces in commercial and non-commercial vehicles. Some majorly used automotive adhesives are epoxies, rubber-based anti-flutters, PVC, thermoplastics, butyls, in-component manufacturing silicones, polyurethanes, and methyl methacrylate. Automotive mass reduction is a major property of adhesives that makes the vehicle lighter and quicker with lesser acceleration time.
Adhesives used in the automotive industry possess heat-resistant properties coupled with superior mechanical strength that offer a high ability to bind onto varied metals and surfaces. These adhesives are primarily used in assembling surfaces or parts of automobiles, which are widely used for manufacturing lightweight vehicles.
According to reports published by a German multinational chemical and consumer goods company, Henkel, the lightweight use of modern adhesives has substantially reduced the overall automobile’s weight by around 15% as compared to conventional vehicles using metal screws and bolts. Adhesives provide durable bonds that can withstand road vibrations and humidity.
Traditional automobile manufacturing relies on the use of clinches, rivets, screws, and welds to fasten surfaces. Automobile adhesives act as a substitute for components used in traditional methods of fastening using nuts and bolts. Moreover, the use of car adhesives allows design freedom to manufacturers in the development of an artistic and customized touch to automotive parts and also provides cost efficiency in assembling processes to manufacturers.
The market report finds that the COVID-19 pandemic hampered the global automotive adhesives market size, due to the decrease in demand for automobiles across the globe. The sudden outbreak of the virus leads to the abrupt shutting down of production units and supply chains which leads to hindering the global market.
During the pandemic COVID-19, consumers focused on accumulating essential items mostly and hesitated to buy luxury items such as automobiles. This leads to the demand for automobiles dropping considerably during the pandemic period and was more prevalent in emerging economies leading to further hampering the market growth.
Automotive Adhesives Market Dynamics
The research report presents a complete market overview by providing detailed information about the current market trends, existing drivers, growth opportunities and potentials, and emerging challenges. The global automotive adhesives market report has up-to-date insights about market scenarios that can shape the overall market performance and output during the forecast period 2023 to 2031.
Major Drivers
The increasing demand for fuel-efficient vehicles is a key factor fueling the demand for car adhesives. The structural weight of automobiles is reduced significantly by using adhesives, as these resins are increasingly used as the preferred alternatives for nuts and bolts by manufacturers.
The use of automotive adhesives as substitutes for nuts, bolts, and fasteners aids in lowering vehicle weight. Manufacturers mostly use automotive adhesives as car glue for car bumpers, car mirrors, car windows, and car upholstery. Fuel-efficient vehicles are on the top search lists of vehicle buyers. The use of adhesives also helps in increasing vehicular speeds and pick-up of automobiles with lowered vehicle weight which ultimately increases fuel efficiency.
The use of welded parts in vehicles has a high chance of creating metal panel holes, which leads to the formation of corrosion in the substrate. Rusting of surfaces around non-similar parts supplied by different component manufacturers due to incompatibility poses a great risk during welding processes. With the use of adhesives, this risk of corrosion is reduced as their application does not involve drilling or puncturing surfaces.
Automotive adhesives are widely used by manufacturers for reducing surface damage and the development of cracks around metal bindings. Their use as alternatives for surface-mounted binders and adhesive automotive tapes is extremely important to protect welded sights as they have the potential of weakening the developed bonds due to contractions and expansions of metals.
Automotive adhesives are widely used to enhance the aesthetics of vehicles. Rusting through abrasions, dents, chips, and scratches is potent to cause damage to the looks of an automobile. Paint protection films, automotive tapes, and resins that are used as car adhesives act as anti-chipping elements.
Automotive adhesives provide the same binding strength as welding with the added advantage of the least use of the equipment and corresponding manpower. The smooth transition from mechanical fasteners using nuts and bolting to the use of automotive adhesive tape, automotive adhesive sealants, and car glue has augmented the growth of the adhesives market.
Existing Restraints
Adhesive temperatures need to be checked for proper heat application and surface tensions. Improper formulations of adhesives lead to charring, smoking, or stringing. Adhesives that are not maintained in specific temperature ranges cause surfaces to not bind well. Adhesives applied to tubular openings have a high chance of getting clogged through openings, which results in causing technical failures of the equipment.
For the automotive adhesive market, one of the major restraints is finding skilled labor to prepare and apply adhesive formulations. In-depth know-how of the entire application process of adhesives is necessary including the preparation of adhesive formulations of the specific temperatures according to the surfaces to be bound.
Opportunities:
Increasing investments in the automotive sector by governments and private organizations across the world coupled with rapid urbanization in emerging economies have created significant opportunities for automobile sales during the forecast period.
Electric vehicles make use of adhesives more than traditional binding methods of welding and nut bolt fixations to reduce vehicle weight. Green initiative policies and subsidies for e-mobility are emphasized by governments worldwide. Governments' initiatives for manufacturers abiding by the production of low-noise emitting vehicles can produce lucrative opportunities for the automotive adhesives market.
Scope of Automotive Adhesives Market Report
The market report includes an assessment of the market trends, market segments, and regional analysis of markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Automotive Adhesives Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2020–2021
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Forecast Period
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2023–2031
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Segmentation
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Formulation (Hot-melt, Solvent-based, and Water-based), Resin Type (Acrylics, Epoxy, Polyurethane, Methyl Methacrylate Adhesives, Silyl Modified Polymer, Silicone, and Others), Function (Bonding, Noise-Vibration-Harshness, and Sealants), Application (Drivetrains, Powertrains, Body in White, Interior, Exterior, Assembly, and Paint Shop), and Vehicle Type (Passenger Vehicles [Fuel Based and Electric Vehicles] and Commercial Vehicles [Light Commercial Vehicles and Heavy Commercial Vehicles])
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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H.B. Fuller Company; Arkema; Huntsman International LLC.; 3M; DuPont; Henkel AG & Co. KGaA; and Sika AG.
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Automotive Adhesives Market Segment Insights
Based on formulation, the market is divided into hot-melt, solvent-based, and water-based. Hot-melt adhesives’ (HMAs) rapid growth is driving the market growth as they have a long shelf life resulting in lowered inventory and maintenance costs.
The hot melts have the quickest settling time and after being applied, they transform into beads in a cooled state. HMAs cover a wide canvas of thermoplastic adhesives that are flexible in binding to substrates and are utilized for a host of applications in the automotive field. They are useful in automotive bonding of varied substrate types ranging from metal, leather, glass, plastics, foam, and rubber.
The solvent-based segment size is projected to account for a key market share, due to the increasing use of automotive bonding solid gaskets on both horizontal and vertical flange surfaces of gearboxes, and engines. Solvent-based adhesives are mixtures of solvents and thermoplastic or slightly crosslinked polymers such as polychloroprene, polyurethane, acrylic, silicone, and natural and synthetic rubbers (elastomers). The demand for solvent-based adhesive sprays is rapidly increasing due to their easy and efficient application method.
In terms of resin type, the automotive adhesives market is classified as acrylics, epoxy, cyanoacrylates, polyvinyl acetate, polyurethane, Methyl Methacrylate Adhesives (MMA), Silyl Modified Polymer (SMP), silicone, and others.
Epoxy derivatives are most preferred by manufacturers as they can be heat-cured for adhesion at room temperature and underwater. Polyamides, an epoxy resin derivative is widely used due to their low thermal viscosity resulting in increased adhesion as they are made up of long-chained fatty acids dimeric in nature. Polyamides also exhibit resistance to chemical reactions of combining metals.
Polyurethane is a solvent-based adhesive that is likely to register a considerable CAGR and is expected to drive the market in the forecast period. Polyurethane adhesives are resistant to temperature fluctuation and are capable of remaining undamaged when exposed to high temperatures for prolonged periods and are used as car glue for automotive components such as seats, spoilers, headlights, bumpers, lift gates, tail lamps, doors, dashboards, and skirtings of the sides.
Based on function, the automotive adhesives market is segmented into bonding, noise-vibration-harshness, and sealants. The noise vibration harshness (NVH) segment is anticipated to hold a key share of the market in the coming years, due to the increasing consumer demand for low-noise-emitting vehicles. Polyurethane and composite materials are used in producing acoustic insulation for automobiles. NVH pads are useful in serving noise-reducing and dampening requirements for a vehicle.
The sealants segment is expected to rapidly grow in the forecast period as they are reliable in providing strong bonds between various automotive components. Sealing helps in reducing the possibility of emission of harmful gases thereby preventing their harmful side effects.
On the basis of application, the market is segregated into drivetrains, powertrains, body in white, interior, exterior, assembly, and paint shop. The body in white segment constitutes the largest volume share in the global market as they are preferred by manufacturers to replace the traditional welding methods.
Adhesive solutions manufactured for the body in white usages protect against corrosion enhancing the durability of metallic substrates. Polyurethane and epoxy derivatives are primarily used in the body in white applications by automotive manufacturers. Reduced vehicle mass, reduction in metal wear and tear, and increase in crash durability are some major advantages of their use.
The interior segment is anticipated to hold a key share of the market in the coming years as the use of automotive interior adhesives improves the cosmetic appearance of automobile interiors of seats, door panels, and dashboards. Their use is vital in reducing the sounds of interior joints thereby offering a comforting ride experience.
The exterior segment is projected to register a considerable CAGR during the forecast period. Adhesives are widely used for exterior applications such as fixing tailgates, roofs, headlamps, spoilers, and hang-on parts due to their heat-resistant properties. Their use in automotive exteriors aids in holding headlamps, mirrors, roof systems, carbon and glass components, windshields, fascia, front-end modules, and glasses in place.
Based on vehicle type, the automotive market is divided into passenger vehicle and commercial vehicle. The passenger vehicle is further classified into Fuel based and electric vehicles. The commercial vehicle is further classified into Light commercial vehicles and heavy commercial vehicles. The passenger vehicle segment is expected to expand at a significant growth rate during the projection period.
The electric vehicles (EVs) segment is anticipated to drive the adhesives market due to various green initiatives adopted and implemented by governments around the world. Increasing favorable government policies in emerging economies for the adoption of electric vehicles can fuel the segment in the global market.
In EVs, adhesives act as a substitute for mechanical fasteners that are bulky providing lighter bonds in designing batteries. Adhesives are used in power inverters of electric vehicles that act as power backups for EVS. Controlling minute gaps in battery cells and battery modules is possible with the use of automotive adhesives.
The commercial vehicles segment is anticipated to account for steady growth in the forecast period as a prime point of attention is load and weight reduction for automotive manufacturers. The increase in the use of adhesives in commercial vehicles is less in comparison to that of individual or passenger vehicles but is steadily catching up.
In terms of region, the global automotive adhesives market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to dominate the market during the projection period, due to increasing demand for design flexibilities and safety measures. Emerging economies such as India, Japan, and China have recorded consistently growing trends in the usage of adhesives in the automotive industry.
The market in North America is anticipated to expand at a significant CAGR during the forecast period. This growth is attributed to the strict policy implementations of green eco-friendly initiatives adopted by the US government as part of the ecological responsibility of developed countries in having a zero-carbon footprint.
Segments
The automotive adhesives market has been segmented based on
Formulation
- Hot-melt
- Solvent-based
- Water-based
Resin Type
- Acrylics
- Epoxy
- Polyurethane
- MMA
- SMP
- Silicone
- Others
Function
- Bonding
- Noise-Vibration-Harshness
- Sealants
Application
- Drivetrains
- Powertrains
- Body in White
- Interior
- Exterior
- Assembly
- Paint Shop
Vehicle Type
- Passenger Vehicles
- Fuel-Based Vehicles
- Electric Vehicles
- Commercial Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- H.B. Fuller Company
- Arkema
- Huntsman International LLC.
- 3M
- DuPont
- Henkel AG & Co. KGaA
- Sika AG
Competitive Landscape
Key players competing in the automotive adhesives market are H.B. Fuller Company; Arkema; Huntsman International LLC.; 3M; DuPont; Henkel AG & Co. KGaA; and Sika AG.
- In May 2022, US-based multinational conglomerate 3M acquired the technology assets of another US-based inventory management solution provider LeanTec. The acquisition was aimed at expanding 3M’s connected body shop digital platforms which integrate data capturing and analysis.
- In February 2022, a France-based manufacturing company of specialty adhesives named Arkema finalized the acquisition of Ashland Global Holdings Inc. a US-based premier global specialty materials company of its performance adhesives business for a value of roughly USD 1.65 bn.
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