Summary

Global Automotive Adhesives and Sealants Market is expected to grow at a significant rate of around 6% during the forecast period. There are many applications for automotive adhesives and sealants, ranging in size from a sensor to a car chassis. In addition, applications such as thread locking, sealing, and bonding for powertrains assembly and lamination of the interior exterior trim, lighting bonding that is structural, and multi-material auxiliary electronics are increasing the demand for automotive adhesives and sealants in the market. Furthermore, the construction of high-performance cars reduces overall vehicle weight by using lightweight composite materials in the vehicles. Because mechanical fasteners must be utilized because these composite materials cannot be fused, the car's weight is raised, they are unattractive, and they run the risk of vibrating loose while enhancing performance to spur market expansion.
BASF SE, Henkel AG & Co. KGaA, The Dow Chemical Company, Sika AG, PPG Industries Inc., 3M, H.B. Fuller Company, Bostik, Evonik Industries AG, Akzo Nobel N.V. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
“Amongst vehicle type, the heavy & medium duty commercial vehicles (H/MCV) category is expected to grow at a significant CAGR”
Based on vehicle type, the automotive adhesives and sealants market has been classified into passenger cars, light commercial vehicles (LCV), and heavy & medium duty commercial vehicles (H/MCV). The heavy & medium duty commercial vehicles (H/MCV) category is expected to grow at a significant CAGR owing to carrying heavy loads. heavy & medium duty commercial vehicles meet the requirement of low speed and high torque to deal with different kinds of surfaces. In addition, construction vehicles, and agricultural vehicles are considered heavy & medium duty commercial vehicles to attain more power & speed. Furthermore, many market key players have raised their production rates with the growing demand for heavy & medium duty commercial vehicles. For instance, in 2022, Daimler Truck starts local production of Mercedes-Benz trucks in China.

“Amongst resin type, polyurethanes witnessed the highest CAGR during the forecast period”
On the basis of resin type, the market is categorized into silicones, polyurethanes, acrylics, epoxy, and others. Among these, polyurethanes witnessed the highest CAGR during the forecast period because polyurethanes are specifically used for interior and exterior applications. This is mainly preferred because of properties such as waterproofing, paint ability, curing in challenging environments, environmentally friendly, wide operating temperature range, and others. Furthermore, many major players are investing in their product portfolios. For instance, in July 2020, SIKA launched its new PURFORM® polyurethane technology and invests in production facilities in Düdingen.

“North America to hold a significant share in the market”
North America is expected to grow with a considerable CAGR during the forecast period. This is mainly due to the rising environmental concern, volatile prices of raw materials, high vehicle sales, and continuous growth of the automotive industry are increasing the demand for vehicles in the region which will further increase the demand for automotive adhesives & sealants market. In addition, the rising population, and improving lifestyle coupled with rising investments in adhesives & sealants by key players are the primary driver of the automotive adhesives & sealants market in North America. For instance, in April 2022, ITW Performance Polymers launched Plexus MA8105 as its newest adhesive with fast room-temperature curing, excellent mechanical properties, and a broad range of adhesion. Thus, increasing the demand for automotive adhesives & sealants across the region.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The Global Automotive Adhesives and Sealants Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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