The automotive adhesive market is expected to reach a US$ 7 billion valuation by the end of 2030. The global coronavirus pandemic has been estimated to impact the automotive adhesives sector owing to international lockdown restrictions on day-to-day operations of the automotive industry.
Dubai, UAE -- (SBWIRE) -- 11/24/2020 -- The automotive adhesive market is expected to reach a US$ 7 billion valuation by the end of 2030. The global coronavirus pandemic has been estimated to impact the automotive adhesives sector owing to international lockdown restrictions on day-to-day operations of the automotive industry. Also, disruptions in raw material supplies and sharp reductions in automotive sales during the crisis will hurt short term industry prospects. Long-term prospects of the industry are positive owing to the transition towards electric and hybrid automobiles.
"Automotive adhesives are used for holding sealing, and structural processes in the automotive sector. Further, higher demand for weight reduction and corrosion resistance, are bolstering the scope of use for product offerings customized towards varying automobile formats," says the FACT.MR analyst.
Request a sample of the report to gain in-depth market insights at@
Automotive Adhesive Market- Key Takeaways
Automotive adhesive applications for powertrain and upholstery will contribute significantly to revenues, driven by changing consumer preferences towards electric and hybrid automobiles.
Structural automotive adhesives will account for significant revenue contribution, for higher efficacy in comparison to traditional spot-welding processes.
Asia Pacific is a dominant regional market owing to the presence of major automotive production facilities run by international OEMs in China and India.
Automotive Adhesive Market- Driving Factors
Prevalent light-weighting trends in the automotive and aerospace industries are the primary drivers behind demand in the automotive adhesives market.
Growing sales of premium cars, with high-end interiors provides lucrative opportunities to market players.
Automotive Adhesive Market- Major Restraints
Toxicity of conventional automotive adhesives remains a major concern in terms of environmental impact, hurting adoption.
Issues on the basis of aging, curing, and surface preparation, restrains speed of bonding, as compared to alternatives like welding, which will limit use.
COVID-19 Impact on Automotive Adhesive Market
The coronavirus pandemic is expected to negatively affect the global automotive adhesives market. Lockdown restrictions imposed by governments have limited operations in the automotive and manufacturing sectors. Also, issues in terms of cash flow during the crisis are likely to affect short term prospects.
As market players consider health concerns for employees, manufacturers are being forced to incorporate work-from-home operations, in addition to strict social distancing guidelines, which will hurt prospects of the industry for the short-term. The market is likely to reflect gradual recovery towards 2021, with removal of lockdown restrictions in the coming months.
Explore the global Automotive Adhesive market with 114 figures, 261 data tables, along with the table of contents of the report. You can also find detailed segmentation on@ https://www.factmr.com/report/3800/automotive-adhesives-market
Automotive adhesive manufacturers are in a fairly competitive industry are focused largely on product research and development, and long-term contracts with large-scale end user businesses in an effort to consolidate market share.
For instance, Huntsman International LLC has released new variants of araldite under the designations 2021-1 and 2022-1, for structural adhesive uses. Dow Inc. has introduced Betamate structural adhesives which allows for multi substrate bonding. Also, Henkel AG has partnered with Formula E Team China Racing for electric automotive sports applications.
Some of the leading players in the automotive adhesive market include DuPont, Arkema S.A., Jowat SE, Sika AG, H.B. Fuller Company, 3M, and Ashland.
About the Report
This study offers readers a comprehensive market forecast of the automotive adhesive market. Global, regional and country-level analysis of the top industry trends impacting the automotive adhesive market is covered in this FACT.MR study. The report offers insights on the automotive adhesive market on the basis of adhesive type (structural, tapes & films, thread-locks & retainers, liquid gaskets), product (solvents, water, hot-melt, reactive, others), application (BIW, glazing, powertrain, paint shop, upholstery), vehicle (passenger vehicles, light commercial vehicles, and heavy commercial vehicles), and sales channel (OEMs and aftermarket) across five regions (North America, Latin America, Europe, Asia Pacific, and MEA).
Explore FACT.MR's Comprehensive Coverage of Chemical & Materials Landscape
Automotive Additives Market- Get the latest insights on the global automotive additives market through FACT.MR's report covering analysis for projection period (2017-2022).
Automotive Lubricants Market- FACT.MR's study on the global automotive lubricants market covers trends, tech innovations, players, and strategies for 2019-2028.
Automotive Lightweight Material Market- Obtain analysis on the global originator small molecule drug market through FACT.MR's latest report covering competitive analysis, regions, and segment analysis for 2020-2030.
Fact.MR is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. Fact.MR is headquartered in Dublin, and has offices in Dubai. Fact.MR's latest market research reports industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
11140 Rockville Pike
Rockville, MD 20852