Major players in the automotive adhesives market are Henkel AG & Co. KGaA, Arkema S. A. , 3M Company, DuPont de Nemours, Inc, H. B. Fuller Company, Sika AG, Huntsman Corporation, The DOW Chemical Company, Jowat SE, Hexion Speciality Chemicals, Covalence Adhesives, Solvay S.
New York, March 29, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Automotive Adhesives Global Market Report 2022” – https://www.reportlinker.com/p06248447/?utm_source=GNW
A., Bayer A.G, Hindustan Adhesives Limited, PPG Industries, ITW Performance Polymers, Ashland Speciality Company, Tesa SE, Bostik S.A, Cytec Solvay, and BASF SE.
The global automotive adhesives market is expected to grow from $4.82 billion in 2021 to $5.11 billion in 2022 at a compound annual growth rate (CAGR) of 6.06%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $6.51 billion in 2026 at a CAGR of 6.24%.
The automotive adhesives market consists of sales of automotive adhesives products by entities (organizations, sole traders, and partnerships) that are used as binding substances by automotive equipment manufacturers (OEMs) to bond different substrates of metal, eliminating the need for welding and mechanical bolts, welds, and rivets.Adhesives are lightweight components that are used to join metals, composites, plastics, and other materials together.
In the automotive sector, adhesives are used to join various automobile components such as closures and structural modules. Adhesives in automobiles assembly successfully and safely solve important applications that have previously relied on mechanical fasteners (e.g., rivets, welds, screws, and clinches) while giving modern automobiles more design freedom and thus, improve the aesthetic appeal of automobiles. Automotive adhesives are frequently utilized in sealing, holding, and structural applications in both the manufacturing and aftermarket of automobiles.
The main types of automotive adhesives by resin type include polyurethane, epoxy, acrylics, silicone, SMP (silane modified polymer), MMA (Methyl Methacrylate adhesives), and others.Polyurethane adhesives are thermoplastic glue or polymers that contain organic chain unit copies joined by urethane links.
Epoxy adhesives are formed from epoxy or Epichlorohydrin, a compound that produces a hard layer upon complete curing.Acrylics are resin-based adhesive, comprised of acrylic or methyl acrylic polymers.
Silicone resin is a liquid form of adhesive, which appears and functions like a gel.SMP sealants are one component, moisture curing products which form permanent elastic bonds.
Methyl Methacrylate adhesives are widely used in the automotive and transportation industry. The market is segmented by adhesive type into structural adhesives, tapes and films, threadlocks and retainers, and liquid gaskets. Major applications of automotive adhesives include body in white (BIW), glazing, powertrain, paint shops, and upholstery. By vehicle type, automotive adhesives are mainly used in passenger cars, light commercial vehicles, trucks, buses, and aftermarket.
Asia Pacific was the largest region in the automotive adhesives market in 2021. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rising demand for lightweight and low-carbon emitting vehicles is expected to propel the growth of the automotive adhesives market.With the implementation of stricter emissions laws as a result of increased exhaust emissions, automobile manufacturers are focusing on producing lightweight automobiles to reduce CO2 emissions.
Automotive adhesives are used to replace the nuts and bolts, rivets welding, and more to make vehicles lighter and tougher and hence improve fuel economy and reduce emission. For instance, according to Trading Economics, around 12.8 million autos and light-weighted trucks were sold in the USA in November 2021. According to the European Automobile Manufacturers Association (ACEA) report, 28,704 new plug-in electric LCV registrations were recorded in 2019 (up 21.1% from 23,314 in 2018), accounting for 1.3% of the entire automotive market. Hence, the rising demand for lightweight and low carbon-emitting vehicles will drive the automotive adhesives market.
The launch of new adhesives is a key trend in the automotive adhesives market.New product launches increase the product portfolio of a manufacturer and help for the rise of market share.
For instance, in August 2020, Bostik a leading global adhesive specialist for industrial, construction and consumer markets, launched a new, innovative water-based adhesive, Aquagrip® 3720, for automotive interior assembly applications, which is used for bonding low surface, rigid substrates to the closed-cell foam and foam-backed materials.In October 2021, Arkema launched a new range of high-performance anaerobic adhesives.
This adhesive provides engineers with cost-effective, and convenient alternatives to commonly used mechanical fastening solutions such as washers, gaskets, pins, hemp, and tapes. The new anaerobic adhesive has been launched to address the challenges faced by engineers with increasingly demanding environmental and safety regulations, smaller and more complex designs, and more adaptable and faster processes in the automotive, general assembly, and more.
In May 2021, Sika AG, a Switzerland-based chemical supplier of the building and automotive industry, agreed to acquire Hamatite, the adhesive business of The Yokohama Rubber Co., Ltd., for an undisclosed amount. The acquisition of Hamatite, which provides adhesives and sealants to the automotive and construction industries, will boost Sika’s market position in Japan by improving access to OEMs and the construction industry. Hamatite is a leading brand in the Japanese automotive and construction industries. Polyurethanes, hot melts, modified silicones, and diverse technologies are among the products in its range and are a preferred solution among regional OEMs for glass bonding and hot melt applications.
The countries covered in the Automotive Adhesives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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