The global automotive adhesives market (2016-2021) is estimated to reach USD 6.05 Billion by 2021, at a CAGR of 8.5% between 2016 and 2021. The trend of making lightweight and fuel-efficient vehicles is boosting the use of aluminum and other materials to decrease the vehicle weight, which is boosting the use of adhesives in automobiles.
Seattle, WA -- (SBWIRE) -- 03/27/2017 -- The report "Automotive Adhesives Market by Resin Type (Polyurethane, Epoxy, Acrylic, Silicone, SMP, Polyamide), Application (Body-in-White, Paint Shop, Powertrain, Assembly), Vehicle Type (Buses, Trucks, LCV), and Region - Global Forecast to 2021", The automotive adhesives market size is estimated to grow from USD 4.03 Billion in 2016 to USD 6.05 Billion by 2021, at a CAGR of 8.5% from 2016 to 2021.
Browse 114 market data tables and 47 figures spread through 153 pages and in-depth TOC on "Automotive Adhesives Market - Global Forecast to 2021"
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Currently, the trend of making lightweight and fuel-efficient vehicles is encouraging the use of aluminum and other materials to decrease the weight of vehicle, which is boosting the use of adhesives in automobiles.
Body in White is the largest application segment of the automotive adhesives market
Automotive adhesives are used in various applications. Body in white, paint shop, powertrain, and assembly are the main applications considered in the report. Globally, the body in white application held the largest share of the automotive adhesives market, in terms of volume, in 2015. Better toughness, enhanced strength, and reduced weight are achieved by using automotive adhesives in body in white. The assembly application segment is estimated to grow at the highest CAGR between 2016 and 2021 among all applications considered.
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Polyurethane is the largest resin type in the automotive adhesives market
Various resin types considered in the automotive adhesives market are polyurethane, epoxy, acrylic, silicone, SMP, polyamide, and others. Polyurethane adhesive is currently the dominant adhesive type in the automotive adhesives market, followed by acrylics adhesives. The SMP adhesives segment is estimated to grow at the highest CAGR between 2016 and 2021 due to its superior properties such as the ability of bonding on different surfaces and UV & heat stability.
Rising demand in Asia-Pacific is the major driver of the automotive adhesives market
Asia-Pacific is estimated to be the fastest-growing market, in terms of both volume and value, during the forecast period. Emerging markets in Asia-Pacific such as China, India, South Korea, and Southeast Asian countries are attracting global players to set up their manufacturing base in this region. In countries, such as China and India, the wide customer base is pulling manufacturers to cater the increasing demand of technologically advanced and quality products. Increased investments in various technological, infrastructural, and R&D sectors are driving the automotive adhesives market in the Asia-Pacific region.
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