Product ID: SQMIG15E2290
Report ID: SQMIG15E2290 | Region: Global | Published Date: July, 2023 | Pages: 157 | Tables: 70 | Figures: 68
Global Automotive Adhesives and Sealants Market size was valued at USD 3.88 billion in 2021 and is poised to grow from USD 4.33 billion in 2022 to USD 11.64 billion by 2030, at a CAGR of 6.11% during the forecast period (2023-2030).
The Automotive Adhesives and sealants find diverse application in automobile industry. Stringent environmental regulations implemented by authorities with the aim of reducing carbon emissions have led to an increased demand for lightweight bonding materials instead of conventional heavy metal fasteners. Notably, Bostik's introduction of a new silyl modified polymer (SMP) technology is expected to enhance efficiency and safety standards in the automotive industry.
Consequently, automakers are increasingly shifting towards water-based adhesives, which are more environmentally friendly. Advancements in the market are primarily driven by factors like miniaturization and weight reduction. This has prompted businesses to develop specialized products with a wide range of features. With these technological developments, manufacturers now have the opportunity to create eco-friendly adhesives that cure rapidly, utilizing biobased and renewable resources. This is predicted to stimulate growth within the industry.
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Global Automotive Adhesives and Sealants Market is segmented on the basis of resin type, Application, and region. By resin type, the market is segmented into Epoxy, Acrylics, SMP, Polyurethanes, Rubber, Polyvinylchloride, Silicones, and others. By Application, the market is segmented into Paint shop, Assembly, Body in White, UTH & Power Train, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis By Resin Type
Polyurethane is the dominant segment based on resin type. Polyurethane adhesives and sealants are widely used in the automotive industry due to their exceptional flexibility, good adhesion to diverse substrates, and ability to withstand challenging environmental conditions. Additionally, polyurethane-based products offer strong resistance to chemicals, which further enhances their appeal for automotive manufacturing and assembly processes.
On the other hand, the SMP (Silyl Modified Polymer) resin type is experiencing the fastest growth among all segments. SMP technology has gained traction in recent years due to its superior performance characteristics, including high strength, durability, and resistance to environmental factors. Moreover, SMP adhesives and sealants are considered more environmentally friendly compared to traditional alternatives, aligning with the increasing demand for sustainable and greener automotive solutions. The growth of the SMP segment is primarily driven by factors such as stricter environmental regulations, which favor the adoption of eco-friendly materials in the automotive manufacturing process. Additionally, advancements in SMP technology and its ability to meet the industry's efficiency and safety requirements are further boosting its market appeal.
Analysis By Application
The Assembly application segment is the most dominated segment in the automotive adhesives and sealants market. This is because adhesives and sealants are extensively used during the assembly process of vehicles, where various components and parts are joined together to form the complete vehicle structure. The use of adhesives in assembly offers advantages such as improved structural integrity, reduced weight, and enhanced overall performance, which have led to its dominant position in the market.
On the other hand, the Body in White application segment is the fastest growing in the automotive adhesives and sealants market. Body in White refers to the stage of vehicle manufacturing where the car body's sheet metal components are welded or joined together before painting. The increasing adoption of lightweight materials like aluminum and composites in vehicle manufacturing has driven the demand for adhesives and sealants in this stage. These materials require specialized adhesives to ensure proper bonding and structural integrity. As automotive manufacturers focus on weight reduction to improve fuel efficiency and meet environmental regulations, the demand for adhesives and sealants in the Body in White application is expected to witness significant growth.
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The North America region dominated the automotive adhesives and sealants market. This dominance can be attributed to several factors, such as a well-established automotive industry, stringent emission regulations, and a strong focus on adopting advanced technologies. Additionally, North America is home to several major automotive manufacturers and suppliers, which further contributes to the significant demand for adhesives and sealants in this region.
On the other hand, the Asia-Pacific region is expected to be the fastest-growing segment in the automotive adhesives and sealants market. The growth can be attributed to several factors, including the rapid expansion of the automotive industry in countries like China and India. These countries are witnessing a surge in vehicle production, driven by an increasing population, rising disposable income, and urbanization. Additionally, the Asia-Pacific region is experiencing a shift towards lightweight vehicles, which require advanced bonding materials like adhesives and sealants to meet fuel efficiency and emission standards.
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The Global Automotive Adhesives and Sealants competitive landscape is characterized by fierce competition among leading manufacturers, each striving to offer innovative and environmentally friendly solutions. With a focus on improved efficiency, safety, and sustainability, companies are investing in research and development to develop high-performance products. The market is witnessing a surge in water-based adhesives and biobased resources, catering to the growing demand for lightweight bonding materials in line with stringent environmental regulations. Specialized offerings and advancements in miniaturization and weight reduction are key drivers of this competitive industry.
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SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Application team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Automotive Adhesives and Sealants Market analyses, the market is poised for significant growth in the coming years, due to increased demand for lightweight bonding materials and stricter environmental regulations. Innovations like Bostik's silyl modified polymer (SMP) technology have raised efficiency and safety standards for automakers, leading to a shift towards greener water-based adhesives. Challenges include adapting to miniaturization and weight reduction trends, and ensuring the rapid curing of environmentally friendly adhesives using biobased and renewable resources. Manufacturers now have new opportunities to meet evolving demands and contribute to a more sustainable automotive sector. However, they must navigate complexities in formulation, testing, and compatibility with different automotive materials.
|Market size value in 2021||USD 3.88 billion|
|Market size value in 2030||USD 4.33 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Automotive Adhesives and Sealants Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Automotive Adhesives and Sealants Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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