Product ID: UCMIG15E2019
Automotive Adhesives Market Size, Share, Growth Analysis, By Resin Type(Polyurethane, Epoxy) - Industry Forecast 2024-2031
Report ID:
UCMIG15E2019 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
Automotive Adhesives Market Insights
Market Overview:
The rise in sales of automotive adhesives due to underlying strength in vehicle sales, technological developments in automobile manufacturing, and the adoption of smart cars are driving market expansion. Furthermore, metallic components are replaced with composites to connect using adhesives, resulting in vehicle weight reduction and improved fuel efficiency. Furthermore, the use of adhesives has resulted in reduced noise, vibration, and harshness in automobiles, which is fueling the growth of the automotive adhesives market. Furthermore, rising demand for automotive adhesives in Asia-Pacific is likely to drive market expansion. Furthermore, adhesive bonding in the automobile sector results in a crucial joining method for lightweight vehicle multi-material design. However, raw material price increases and the impact of the recession on end-use industries are major factors expected to restrain the market growth.
Automotive Adhesives Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Specialty Chemicals by segment aggregation, the contribution of the Specialty Chemicals in Diversified Materials and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
Automotive Adhesives Market Report Snapshots
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