Global Automotive Adhesives Market to Reach USD 10,668.57 Million by 2031 | CAGR of 7.1%
Category : Materials And Chemicals | Published Date : Nov 2024 | Type : Press Release
Automotive Adhesives Market Scope & Overview:
In the newly published report, Consegic Business Intelligence states that the Automotive Adhesives Market was valued at USD 6,237.21 million in 2023 and is projected to grow at a CAGR of 7.1%, reaching USD 10,668.57 million by 2031. Automotive adhesives are specialized bonding agents used to securely attach components like panels, trims, seals, and structural parts in vehicles. They offer superior bonding strength, flexibility, and durability, replacing traditional fastening methods while enhancing vehicle aesthetics and reducing weight.
The report comprises the Automotive Adhesives Market Share, Size & Industry Analysis, based on Type (Silicon Adhesive, Polyurethane Adhesive, Acrylic Adhesive, Epoxy Adhesive, Others), Technology (Hot Melt, Solvent-based, Water-based, Others), Vehicle Type (Passenger Cars, Commercial Vehicles (Light Commercial Vehicles, Heavy Commercial Vehicles)), and Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2024-2031.
The report contains detailed information on Automotive Adhesives Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profiles, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
Segmental Analysis :
Based on type, the market is segmented into Silicon Adhesive, Polyurethane Adhesive, Acrylic Adhesive, Epoxy Adhesive, and Others.
- The polyurethane adhesive segment accounted for the largest market share of 31.66% in 2023, driven by its versatile properties like high strength, durability, and resistance to harsh environments, making it ideal for bonding diverse materials in automotive applications.
- The epoxy adhesive segment is projected to grow at the fastest CAGR during the forecast period, supported by its superior adhesion, high temperature, and chemical resistance, especially in electric vehicle battery assembly.
Based on technology, the market is divided into Hot Melt, Solvent-based, Water-based, and Others.
- The water-based segment dominated the market in 2023 and is expected to grow at the highest CAGR. These adhesives are environmentally friendly and widely used for bonding interior and exterior automotive components due to reduced VOC emissions and excellent adhesion.
Based on vehicle type, the market is categorized into Passenger Cars and Commercial Vehicles (Light Commercial Vehicles, Heavy Commercial Vehicles).
- The commercial vehicle segment held the largest share in 2023, attributed to the increasing demand for durable adhesives to bond components capable of withstanding heavy loads and vibrations.
- The passenger vehicle segment is anticipated to grow at the fastest rate, driven by the rising adoption of lightweight and high-strength adhesives to enhance vehicle fuel efficiency and design flexibility.
Based on regions, the market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
- Asia-Pacific: Held the largest market share of 36.75% in 2023, valued at USD 2,292.17 million, fueled by high vehicle production in countries like China, Japan, and India, along with increasing adoption of electric vehicles.
- North America: Expected to grow at the fastest CAGR of 7.7%, supported by the region's emphasis on lightweight vehicles, advanced automotive technologies, and sustainable manufacturing practices.
| Report Attributes | Report Details |
| Study Timeline | 2018-2031 |
| Market Size in 2031 | USD 10,668.57 Million |
| CAGR (2024-2031) | 7.1% |
| Type | Silicon Adhesive, Polyurethane Adhesive, Acrylic Adhesive, Epoxy Adhesive, Others |
| Technology | Hot Melt, Solvent-based, Water-based, Others |
| End-User | Consumer Electronics, Automotive, Healthcare, Industrial, Energy & Utility, Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Automotive Adhesives Industry:
- H.B. Fuller Company (United States)
- Sika (Switzerland)
- Dow (United States)
- Bostik (France)
- Henkel Adhesives Technologies India Private Limited (India)
- LG Chem (South Korea)
- DuPont (United States)
- 3M (United States)
- PPG Industries, Inc (United States)
- Huntsman International LLC (United States)
Recent Industry Developments :
- February 2024: Blackbuck EV partnered with Sika Automotive to develop lightweight adhesive solutions for electric vehicle platforms.
- October 2024: LG Chem announced the expansion of its thermally conductive adhesives production to cater to North American automakers.
