Overview:
The Automotive Adhesive Market is getting prominence with the evolving automotive sector. These adhesives are a perfect blend of synthetic rubber elastomers, resins and agents and a favorite with automotive manufacturers. Automakers now use aluminum which cannot be welded together and requires adhesives. These adhesives are doing excellent even at top speed and high pressure which helps it gain traction in terms of sales. The Global Automotive Adhesives Market is expected to grow with an impressive CAGR during the forecast period (2017-2022), reports Market Research Future (MRFR). The report further includes features that adhesives add in a vehicle such as durability, improved crash performance, and smooth running and a proper segmental analysis to give an in-depth analysis of the Automotive Adhesives Market in coming years.
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However, the Automotive Adhesives Market can witness a slowing down during the forecast period owing to a fluctuation in the price of raw materials.
Industry Trend:
Dow Automotive has come up with Betaseal 16709 a glass bonding adhesive that includes unique resin, an adhesion promoter, and catalyst chemistry. This enables the component for fast link-up and enhances its adhesion capability with hard-to-stick paints. This increases product consistency and shelf life which can be considered a boon for the Automotive Adhesives Market.
Segmentation:
The Global Automotive Adhesives Market can be segmented by Type and Application.
By Type, the Automotive Adhesives Market can be segmented into polyurethane, acrylic, polyamide, and others.
Based on Application, the Automotive Adhesives Market can be segmented into paint shop, assembly, powertrain, and others.
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Regional Analysis:
Region-Specific Segmentation of the Automotive Adhesives Market includes North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
The APAC region is leading the Global Automotive Adhesives Market. The region is witnessing a boom in the automotive sector, and many countries are providing adequate support to global players, who are in a bid to expand their business, are setting up factories in the region. Furthermore, the presence of a number of suppliers, distributors, and manufacturers are strengthening the growth of the market. China and India have emerged as competitive markets where an increase in disposable income has ensured the growth of the automotive sector and in a direct manner, the rise in automotive adhesives sale. The region is also anticipating the fastest growth during the forecast period.
Europe is assuming the second position as the automotive sector in the region is quite well-structured. North America is slowly grooming up its place with the revamping of the automotive sector. These two regions have a wide customer base who can ensure the growth of the future Automotive Adhesives Market.
Market Insight:
The Automotive Adhesives Market is expecting expansion in coming years due to the tactical steps taken by a number of market leaders. These strategies can provide a boost to the company growth and in the process, take the market ahead. Merger, collaboration, and other methods are a part of such tactical plans. For instance, Meridian Adhesives Group has acquired W.F.Taylor to expand their business profile.
The key players of Automotive Adhesives Market are The Dow Chemical Company (U.S.), Henkel (Germany), BASF (Germany), 3M Company (U.S.), Ashland Specialty Chemical Company (U.S.), H.B. Fuller Company (U.S.), Hindustan Adhesives Limited (India), Dynea International Oy (Finland), Hexion Specialty Chemicals Inc. (U.S), Covalence Specialty Adhesives LLC (U.S.), and others.
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