Automotive Adhesives Market share growth trends and Forecast by 2025

North America led by Canada, Mexico and the U.S. automotive adhesives market is anticipated to boost due to rising passenger cars sales. Total passenger car sales in 2018 for North America was 7.5 million units which may foster industry size.  Presence of major car manufacturer like Ford, Chrysler, General Motor and Tesla focussing on fuel efficient vehicles along with increasing product usage in passenger car assembling owing to its lightweight characteristics will drive regional industry growth.

Europe driven by UK, Spain, Italy, France and Germany automotive adhesives market share is anticipated to boost owing to its noise reduction and structural stabilizing properties.  Luxury car manufacturers use these products in cockpit, clips/retainers, emblems and headlamps for increasing stability and provide aesthetic finish to automobile. These factors may propel product demand by 2025.

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Automotive Adhesives Market size is anticipated to grow owing to its wide usage in vehicle parts binding for high strength and mechanical stability. Composite materials are utilized in automotive vehicles in order to decrease weight and increase fuel efficiency. These products have usage in binding and composite components sealing application. It is also used as a potential alternative to welding owing to low presence of metallic components in low weight passenger vehicles. Global passenger car market is projected to surpass USD 1.5 trillion by 2023 which may foster automotive adhesives market growth.

Electric vehicle market sales are projected to surpass 10.5 million units by 2025 which may boost automotive adhesives market size. Increasing demand for electric vehicles owing to rapid decline in hydrocarbon reserves and rising carbon dioxide emissions will favour industry growth. These adhesives are used in sealing car accessories which for binding car consoles, dashboards, speedometers and electric components, thus driving product demand.

Adhesives are employed at assembly line in linking car parts including x crankshaft linking to engines. It is also applied in x non-load bearing body parts linking like battery holders & tin shades. Interior applications include tray systems, safety systems and seating systems. These adhesives can be applied with high speed on production line which results in savings and cost reduction thus, driving automotive adhesives market.

Stringent government regulations by European Union pertaining to motor vehicle safety have shifted manufacturer focus towards developing safe passenger vehicles structure. These adhesives provide high robustness and structural stability owing to its stiffness and durability which ultimately results in better handling and safety, thus propelling industry growth.

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These products are used in collision repair by repairing patches and voids caused due to accidents comparatively at lower cost. Global automotive aftermarket is likely to surpass USD 480 billion by 2025 which may drive automotive adhesives market growth. Improving living standards and marketing campaign by car manufacturers has increased vehicle sales in China, India, Italy and Germany which may increases automotive adhesives demand.

High solvent adhesive products can damage air quality and contaminate ground water which may challenge industry profitability, thus affecting automotive adhesives market price trends However, Growing emphasis on low or solvent free adhesives in order to increase biodegradability and reduce pollution levels is likely to foster industry growth. Companies are developing new strategies to increase these adhesives durability and abrasion resistant properties which may drive the market size. 

Asia Pacific led by India, Japan, South Korea and China market size may witness substantial gains due to wide usage in heavy-duty vehicles manufacturing which includes trucks, buses and tractors. Significant increase in air pollution levels has led to growing public transport adoption which may fuel buses and mid-size vehicles demand, thus, driving automotive adhesives demand.

Brazil automotive adhesives market size is likely to observe steady gains during forecasted timeframe. Rising agricultural activities has upsurge tractors demand which are used in skewing, harvesting and crops cultivation. Automotive adhesive provides higher body to weight ratio along with reducing overall vehicle mass which may propel regional product demand.

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Global automotive adhesives market share is moderately fragmented with major players includes 3M Company, Henkel & Co. KGaA, The DOW Chemical Company, Bostik S.A., Sika AG, H.B. Fuller, Illinois Tool Works Corporation, PPG Industries, Jowat AG, and Solvay S.A. The automobile manufacturers are more focussed on expansion in India, China and Japan due to growing product demand which may stimulate the market size.

Key manufacturers are also focusing on capacity expansion and product innovation to cater rising demand. In February 2016, Henkel Anand, which is a joint venture between Anand Group and Germany based giant Henkel is planning to expand its production capacity of adhesives & sealants plant in India. The new manufacturing unit will be operational by 2018 which will cater automotive business unit.

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