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APAC and ROW Remain Key Growth Regions Owing to Their Higher Automotive Production
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This study analyzes the global automotive adhesives and sealants market with demand for both light vehicles (LV) and electric vehicles (EV). The period covered in this study is 2014-2024. LV includes both passenger and light commercial vehicle (LCV) with total gross vehicle weight of not more than 3.5 tones. The market is segmented as body in white (BIW), under the hood (UTH) & powertrain, paint shop and assembly segments, all categorized from an application perspective. The regions covered in this study include North America, Europe, Asia Pacific (APAC) and Rest of World (ROW).
This research study analyzes the current market size in terms of volumes and revenues based on the average prices of materials in the market. It also includes a detailed analysis of drivers, restraints, market trends, product and technology trends, material trends, value chain analysis, mergers and acquisitions, competitive landscaping and product matrix. Further, it presents forecasts for revenue and unit shipments for all segments over the period 2018-2024. The various chemistries that are used across segments are also analyzed extensively based on their adoption levels.
Key Issues Addressed
APAC and ROW are the key growth regions owing to their expected higher automotive production growth during the forecast period. North America and Europe, on the other hand, are likely to register only modest growth rates.
BIW and assembly are the major segments that are likely to witness higher material and technology trends owing to the greater adoption of light-weight multi-materials such as aluminum, magnesium, plastics and composites in these segments. This trend will be further supported by the growing interest of OEMs towards increasing fuel efficiency, enhancing comfort, improving aesthetic appearance and reducing NVH levels. Similarly, the adoption of water-borne adhesives and sealants is gaining momentum compared to solvent-borne adhesives due to the rising interest towards lowering VOC emissions.
Surge in EV numbers is the key mega trend within the global automotive industry owing to the greater focus on sustainability and emphasis on renewable resources. Leading market participants are exploring opportunities to expand their product portfolio and strengthen their market position through the acquisition of regional or application-specific companies.
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