HOME Top Market Reports 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

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

By: marketsandmarkets.com
Publishing Date: March 2017
Report Code: CH 3921

 

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The global automotive adhesives market is estimated to reach USD 6.05 Billion by 2021, at a CAGR of 8.5% between 2016 and 2021. Currently, the trend of making lightweight and fuel-efficient vehicles is encouraging the use of aluminum and other materials to decrease the weight of vehicles, which is boosting the use of adhesives in automobiles. In this study, 2015 is considered as the base year and 2016 to 2021 is the forecast period.

This report aims to estimate the market size and future growth potential of the automotive adhesives market based on resin type, application, vehicle type, and region. It also aims to identify and analyze the key drivers, restraints, opportunities, and industry-specific challenges influencing the market. In addition, it analyzes the opportunities in the market for stakeholders and presents a competitive landscape of the market.

Both top-down and bottom-up approaches have been used to estimate and validate the global automotive adhesives market size and various other dependent submarkets. The research study involved the usage of extensive secondary sources, directories, and databases, such as Hoovers, Bloomberg, Chemical Weekly, Factiva, The Adhesive and Sealant Council (ASC), Association of European Adhesives and Sealants (FEICA), Adhesive & Sealant Portal, British Adhesives and Sealants Association, Adhesives and Sealants Manufacturers Association of Canada, China National Adhesives Industry Association, The European Adhesive Tape Industry Network, Japan Adhesive Industry Association (JAIA), China Adhesives and Tape Industry Association (CATIA), Taiwan Synthetic Resins & Adhesives Industry Association (TSRAIA), Korea Adhesive Industry Association (KAIA), and other government and private websites to identify and collect information useful for a technical, market-oriented, and commercial study of the automotive adhesives market.

Automotive Adhesives Market

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The automotive adhesives market has a diversified and established ecosystem of upstream players such as raw material suppliers and downstream stakeholders such as manufacturers, vendors, and end users. Henkel AG & Company (Germany), Bostik SA (France), H.B. Fuller (U.S.), 3M Company (U.S.), The Dow Chemical Company (U.S.), Sika AG (Switzerland), PPG Industries, Inc. (U.S.), and Illinois Tool Works Corporation (U.S.) are the leading automotive adhesives manufacturers and suppliers.

Key Target Audience:

  • Automotive Adhesives Manufacturers
  • Raw Material Suppliers
  • Traders, Distributors, and Suppliers of Automotive Adhesives
  • Regional Manufacturers’ Associations and General Adhesives and Sealants Associations
  • Government and Regional Agencies and Research Organizations
  • Investment Research Firms

Scope of the report:

This research report categorizes the global automotive adhesive market based on resin type, application, vehicle type, and region.

Based on Resin Type:

  • Polyurethane
  • Epoxy
  • Acrylic
  • Silicone
  • SMP
  • Polyamide
  • Others

Based on Application:

  • Body-in-White
  • Paint shop
  • Powertrain
  • Assembly

Based on Vehicle Type:

  • Passengers Vehicles
  • Buses
  • Trucks
  • LCV
  • Others

Based on Region:

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East & Africa

The market is further analyzed for the key countries in each of these regions.

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Geographic Analysis:

  • Country level analysis of automotive adhesives market by application, resin type, and vehicle type

Company Information:

  • Detailed analysis and profiling of additional market players

Table of Contents

1 Introduction (Page No. - 14)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Scope of the Study
           1.3.1 Markets Covered
           1.3.2 Years Considered in the Report
    1.4 Currency
    1.5 Package Size
    1.6 Stakeholders

2 Research Methodology (Page No. - 17)
    2.1 Research Data
    2.2 Secondary Data
           2.2.1 Key Data From Secondary Sources
    2.3 Primary Data
           2.3.1 Key Data From Primary Sources
           2.3.2 Key Industry Insights
           2.3.3 Breakdown of Primary Interviews
    2.4 Market Size Estimation
    2.5 Data Triangulation
    2.6 Market Share Estimation
           2.6.1 Research Assumptions
           2.6.2 Research Limitations

3 Executive Summary (Page No. - 25)

4 Premium Insights (Page No. - 29)
    4.1 Attractive Market Opportunities in Automotive Adhesives Market
    4.2 Automotive Adhesives Market, By Resin Type
    4.3 Automotive Adhesives Market Share, By Region
    4.4 Automotive Adhesives Market, By Application

5 Market Overview (Page No. - 34)
    5.1 Introduction
           5.1.1 Automotive Adhesives
           5.1.2 Major Advantages of Automotive Adhesives
           5.1.3 Disadvantages of Automotive Adhesives
    5.2 History
    5.3 Market Segmentation
    5.4 Market Dynamics
    5.5 Market Dynamics
           5.5.1 Drivers
                    5.5.1.1 Growing Demand for Lightweight and Low Carbon Emitting Vehicles
                    5.5.1.2 High Demand for Automotive Adhesives From Asia-Pacific Region
                    5.5.1.3 Technological Advancements in End-Use Industries
           5.5.2 Restraints
                    5.5.2.1 Volatility in Raw Material Prices
           5.5.3 Opportunities
                    5.5.3.1 Growing Demand for Low Voc, Green, and Sustainable Adhesives
                    5.5.3.2 High Growth Markets in Emerging Countries
           5.5.4 Challenges
                    5.5.4.1 Stringent and Time-Consuming Regulatory Policies

6 Industry Trends (Page No. - 45)
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Porter’s Five Forces Analysis
           6.3.1 Threat of New Entrants
           6.3.2 Threat of Substitutes
           6.3.3 Bargaining Power of Suppliers
           6.3.4 Bargaining Power of Buyers
           6.3.5 Intensity of Rivalry

7 Automotive Adhesives Market, By Resin Type (Page No. - 50)
    7.1 Introduction
    7.2 Polyurethane Automotive Adhesives
    7.3 Epoxy Automotive Adhesives
    7.4 Acrylics Automotive Adhesives
    7.5 Silicone Automotive Adhesive
    7.6 SMP Automotive Adhesive
    7.7 Polyamide Automotive Adhesive
    7.8 Others

8 Automotive Adhesives Market, By Application (Page No. - 63)
    8.1 Introduction
    8.2 Body in White (BIW)
    8.3 Powertrain
    8.4 Paint Shop
    8.5 Assembly

9 Automotive Adhesives Market, By Vehicle Type (Page No. - 71)
    9.1 Introduction
    9.2 Passenger Car
    9.3 Buses
    9.4 Heavy Trucks
    9.5 LCV
    9.6 Others

10 Automotive Adhesives Market, By Region (Page No. - 80)
     10.1 Introduction
     10.2 North America
             10.2.1 U.S.
             10.2.2 Canada
             10.2.3 Mexico
     10.3 Europe
             10.3.1 Germany
             10.3.2 Spain
             10.3.3 France
             10.3.4 U.K.
             10.3.5 Russia
             10.3.6 Turkey
             10.3.7 Italy
             10.3.8 Rest of Europe
     10.4 Asia-Pacific
             10.4.1 China
             10.4.2 Japan
             10.4.3 South Korea
             10.4.4 India
             10.4.5 Thailand
             10.4.6 Indonesia
             10.4.7 Malaysia
             10.4.8 Rest of Asia-Pacific
     10.5 South America
             10.5.1 Brazil
             10.5.2 Argentina
             10.5.3 Rest of South America
     10.6 Middle East & Africa
             10.6.1 South Africa
             10.6.2 Morocco
             10.6.3 Rest of the Middle East & Africa

11 Competitive Landscape (Page No. - 118)
     11.1 Overview
     11.2 Competitive Situations and Trends
     11.3 New Product Launches
     11.4 Mergers & Acquisitions
     11.5 Investments & Expansions
     11.6 Partnerships, Contracts, and Agreements

12 Company Profiles (Page No. - 124)
(Overview, Financial*, Products & Services, Strategy, and Developments)
     12.1 Henkel & Co. KGaA
     12.2 Bostik S.A.
     12.3 H.B. Fuller
     12.4 3M Company
     12.5 The DOW Chemical Company
     12.6 Sika AG
     12.7 PPG Industries
     12.8 Illinois Tool Works Corporation
     12.9 Solvay S.A
     12.10 Jowat AG
     12.11 Other Major Players/Companies in the Automotive Adhesives Market

*Details Might Not Be Captured in Case of Unlisted Companies

13 Appendix (Page No. - 146)
     13.1 Discussion Guide
     13.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.3 Introducing RT: Real-Time Market Intelligence
     13.4 Available Customizations
     13.5 Related Reports
     13.6 Author Details


List of Tables (114 Tables)

Table 1 Impact of Automotive Adhesives Market Drivers (2015–2020)
Table 2 Impact of Automotive Adhesives Market Restraints (2016–2021)
Table 3 Impact of Automotive Adhesives Market Opportunities (2016–2021)
Table 4 Impact of Automotive Adhesive Market Challenges (2016–2021)
Table 5 Automotive Adhesives Market Size, By Resin Type, 2014–2021 (USD Million)
Table 6 Automotive Adhesives Market Size, By Resin Type, 2014–2021 (Kiloton)
Table 7 Polyurethane Automotive Adhesives Market Size, By Region, 2014–2021 (USD Million)
Table 8 Polyurethane Automotive Adhesives Market Size, By Region, 2014–2021 (Kiloton)
Table 9 Epoxy Automotive Adhesives Market Size, By Region, 2014–2021 (USD Million)
Table 10 Epoxy Automotive Adhesives Market Size, By Region, 2014–2021 (Kiloton)
Table 11 Acrylics Automotive Adhesives Market Size, By Region, 2014–2021 (USD Million)
Table 12 Acrylics Automotive Adhesive Market Size, By Region, 2014–2021 (Kiloton)
Table 13 Silicone Adhesive Market Size, By Region, 2014–2021 (USD Million)
Table 14 Silicone Adhesive Market Size, By Region, 2014–2021 (Kiloton)
Table 15 SMP Automotive Adhesive Market Size, By Region, 2014–2021 (USD Million)
Table 16 SMP Automotive Adhesive Market Size, By Region, 2014–2021 (Kiloton)
Table 17 Polyamide Automotive Adhesive Market Size, By Region, 2014–2021 (USD Million)
Table 18 Polyamide Automotive Adhesive Market Size, By Region, 2014–2021 (Kiloton)
Table 19 Other Automotive Adhesive Market Size, By Region, 2014–2021 (USD Million)
Table 20 Others Automotive Adhesive Market Size, By Region, 2014–2021 (Kiloton)
Table 21 Global Automotive Adhesives Market Size, By Application, 2014–2021 (USD Million)
Table 22 Global Automotive Adhesives Market Size, By Application, 2014–2021 (Kiloton)
Table 23 Automotive Adhesives Market Size in Body in White, By Region, 2014–2021 (USD Million)
Table 24 Automotive Adhesives Market Size in Body in White, By Region, 2014–2021 (Kiloton)
Table 25 Automotive Adhesives Market Size in Powertrain, By Region, 2014–2021 (USD Million)
Table 26 Automotive Adhesives Market Size in Powertrain, By Region, 2014–2021 (Kiloton)
Table 27 Automotive Adhesives Market Size in Paint Shop, By Region, 2014–2021 (USD Million)
Table 28 Automotive Adhesives Market Size in Paint Shop, By Region, 2014–2021 (Kiloton)
Table 29 Automotive Adhesives Market Size in Assembly, By Region, 2014–2021 (USD Million)
Table 30 Automotive Adhesives Market Size in Assembly, By Region, 2014–2021 (Kiloton)
Table 31 Automotive Adhesives Market Size, By Vehicle Type, 2014–2021 (USD Million)
Table 32 Automotive Adhesives Market Size, By Vehicle Type, 2014–2021 (Kiloton)
Table 33 Automotive Adhesives Market Size in Passenger Car, By Region, 2014–2021 (USD Million)
Table 34 Automotive Adhesives Market Size in Passenger Car, By Region, 2014–2021 (Kiloton)
Table 35 Automotive Adhesives Market Size in Buses, By Region, 2014–2021 (USD Million)
Table 36 Automotive Adhesives Market Size in Buses, By Region, 2014–2021 (Kiloton)
Table 37 Automotive Adhesives Market Size in Heavy Trucks, By Region, 2014–2021 (USD Million)
Table 38 Automotive Adhesives Market Size in Heavy Trucks, By Region, 2014–2021 (Kiloton)
Table 39 Automotive Adhesives Market Size in LCV, By Region, 2014–2021 (USD Million)
Table 40 Automotive Adhesives Market Size in LCV, By Region, 2014–2021 (Kiloton)
Table 41 Automotive Adhesives Market Size in Others Segment, By Region, 2014–2021 (USD Million)
Table 42 Automotive Adhesives Market Size in Others Segment, By Region, 2014–2021 (Kiloton)
Table 43 Automotive Adhesives Market Size, By Region, 2014–2021 (USD Million)
Table 44 Automotive Adhesives Market Size, By Region, 2014–2021 (Kiloton)
Table 45 North America: Automotive Adhesives Market Size, By Country, 2014–2021 (USD Million)
Table 46 North America: Automotive Adhesives Market Size, By Country, 2014–2021 (Kiloton)
Table 47 North America: Market Size, By Resin Type, 2014–2021 (USD Million)
Table 48 North America: Market Size, By Resin Type, 2014–2021 (Kiloton)
Table 49 North America: Automotive Adhesives Market Size, By Application, 2014–2021 (USD Million)
Table 50 North America: Automotive Adhesives Market Size, By Application, 2014–2021 (Kiloton)
Table 51 North America: Market Size, By Vehicle Type, 2014–2021 (USD Million)
Table 52 North America: Market Size, By Vehicle Type, 2014–2021 (Kiloton)
Table 53 U.S.: Automotive Adhesives Market Size, 2014–2021 (USD Million & Kiloton)
Table 54 Canada: Automotive Adhesives Market Size, 2014–2021 (USD Million & Kiloton)
Table 55 Mexico: Automotive Adhesives Market Size, 2014-2021 (USD Million & Kiloton)
Table 56 Europe: Automotive Adhesives Market Size, By Country, 2014–2021 (USD Million)
Table 57 Europe: Automotive Adhesives Market Size, By Country, 2014–2021 (Kiloton)
Table 58 Europe: Market Size, By Resin Type, 2014–2021 (USD Million)
Table 59 Europe: Market Size, By Resin Type, 2014–2021 (Kiloton)
Table 60 Europe: Market Size, By Application, 2014–2021 (USD Million)
Table 61 Europe: Adhesives Market Size, By Application, 2014–2021 (Kiloton)
Table 62 Europe: Market Size, By Vehicle Type, 2014–2021 (USD Million)
Table 63 Europe: Market Size, By Vehicle Type, 2014–2021 (Kiloton)
Table 64 Germany: Automotive Adhesives Market Size, 2014-2021 (USD Million & Kiloton)
Table 65 Spain: Automotive Adhesives Market Size, 2014–2021 (USD Million & Kiloton)
Table 66 France: Automotive Adhesives Market Size, 2014–2021 (USD Million & Kiloton)
Table 67 U.K.: Automotive Adhesives Market Size, 2014-2021 (USD Million & Kiloton)
Table 68 Russia: Automotive Adhesives Market Size, 2014-2021 (USD Million & Kiloton)
Table 69 Turkey.: Automotive Adhesives Market Size, 2014-2021 (USD Million & Kiloton)
Table 70 Italy: Automotive Adhesives Market Size, 2014–2021 (USD Million & Kiloton)
Table 71 Rest of Europe: Automotive Adhesives Market Size, 2014-2021 (USD Million & Kiloton)
Table 72 Asia-Pacific: Automotive Adhesives Market Size, By Country, 2014–2021 (USD Million)
Table 73 Asia-Pacific: Automotive Adhesives Market Size, By Country, 2014–2021 (Kiloton)
Table 74 Asia-Pacific: Market Size, By Resin Type, 2014–2021 (USD Million)
Table 75 Asia-Pacific: Market Size, By Resin Type, 2014–2021 (Kiloton)
Table 76 Asia-Pacific: Automotive Adhesive Market Size, By Application, 2014–2021 (USD Million)
Table 77 Asia-Pacific: Automotive Adhesive Market Size, By Application, 2014–2021 (Kiloton)
Table 78 Asia-Pacific: Market Size, By Vehicle Type, 2014–2021 (USD Million)
Table 79 Asia-Pacific: Market Size, By Vehicle Type, 2014–2021 (Kiloton)
Table 80 China: Automotive Adhesives Market Size, 2014-2021 (USD Million & Kiloton)
Table 81 Japan: Automotive Adhesives Market Size, 2014-2021 (USD Million & Kiloton)
Table 82 South Korea: Automotive Adhesives Market Size, 2014-2021 (USD Million & Kiloton)
Table 83 India: Automotive Adhesives Market Size, 2014-2021 (USD Million & Kiloton)
Table 84 Thailand: Automotive Adhesives Market Size, 2014-2021 (USD Million & Kiloton)
Table 85 Indonesia: Automotive Adhesives Market Size, 2014-2021 (USD Million & Kiloton)
Table 86 Malaysia: Automotive Adhesives Market Size, 2014-2021 (USD Million & Kiloton)
Table 87 Rest of Asia-Pacific: Automotive Adhesives Market Size, 2014-2021 (USD Million & Kiloton)
Table 88 South America: Automotive Adhesives Market Size, By Country, 2014–2021 (Kiloton)
Table 89 South America: Automotive Adhesives Market Size, By Country, 2014–2021 (USD Million)
Table 90 South America: Market Size, By Resin Type, 2014–2021 (USD Million)
Table 91 South America: Market Size, By Resin Type, 2014–2021 (Kiloton)
Table 92 South America: Automotive Adhesive Market Size, By Application, 2014–2021 (USD Million)
Table 93 South America: Automotive Adhesive Market Size, By Application, 2014–2021 (Kiloton)
Table 94 South America: Market Size, By Vehicle Type, 2014–2021 (USD Million)
Table 95 South America: Market Size, By Vehicle Type, 2014–2021 (Kiloton)
Table 96 Brazil: Automotive Adhesives Market Size, 2014–2021 (USD Million & Kiloton)
Table 97 Argentina: Automotive Adhesives Market Size, 2014–2021 (USD Million & Kiloton)
Table 98 Rest of South America: Automotive Adhesives Market Size, 2014–2021 (USD Million & Kiloton)
Table 99 Middle East & Africa: Automotive Adhesives Market Size, By Country, 2014–2021 (Kiloton)
Table 100 Middle East & Africa: Automotive Adhesives Market Size, By Country, 2014–2021 (USD Million)
Table 101 Middle East & Africa: Market Size, By Resin Type, 2014–2021 (USD Million)
Table 102 Middle East & Africa: Market Size, By Resin Type, 2014–2021 (Kiloton)
Table 103 Middle East & Africa: Automotive Adhesive Market Size, By Application, 2014–2021 (USD Million)
Table 104 Middle East & Africa: Automotive Adhesive Market Size, By Application, 2014–2021 (Kiloton)
Table 105 Middle East & Africa: Market Size, By Vehicle Type, 2014–2021 (USD Million)
Table 106 Middle East & Africa: Market Size, By Vehicle Type, 2014–2021 (Kiloton)
Table 107 South Africa: Automotive Adhesives Market Size, 2014–2021 (USD Million & Kiloton)
Table 108 Morocco: Automotive Adhesives Market Size, 2014–2021 (USD Million & Kiloton)
Table 109 Rest of the Middle East & Africa: Automotive Adhesives Market Size, 2014–2021 (USD Million & Kiloton)
Table 110 New Product Launches, 2010–2016
Table 111 Mergers & Acquisitions, 2010–2016
Table 112 Investments & Expansions, 2010–2016
Table 113 Partnerships, Contracts, and Agreements, 2010–2016
Table 114 Other Companies in the Adhesive Tapes Market


List of Figures (47 Figures)

Figure 1 Automotive Adhesives: Market Segmentation
Figure 2 Research Design
Figure 3 Bottom-Up Approach
Figure 4 Top-Down Approach
Figure 5 Automotive Adhesives: Data Triangulation
Figure 6 Automotive Adhesives Market in Assembly Application to Register Highest Growth Between 2016 and 2021
Figure 7 Asia-Pacific is Expected to Register Highest Growth Between 2016 and 2021
Figure 8 Automotive Adhesives Market in Passenger Cars Projected to Register Highest Growth Between 2016 and 2021
Figure 9 Asia-Pacific Dominates With the Global Automotive Adhesives Market
Figure 10 Automotive Adhesives Market Expected to Grow Due to Growing Demand From Emerging Nations
Figure 11 SMP Based Automotive Adhesives to Register the Fastest Growth Rate
Figure 12 Automotive Adhesives Market Dominated By China With Highest CAGR
Figure 13 Automotive Adhesives Market in Assembly Application Projected to Witness Highest CAGR
Figure 14 China Dominates Automotive Adhesives Market in Asia-Pacific
Figure 15 By Region
Figure 16 By Application
Figure 17 By Resin
Figure 18 By Vehicle Type
Figure 19 Drivers, Restraints, Opportunities, and Challenges in the Automotive Adhesives Market
Figure 20 Fluctuations in the Price of Crude Oil Between 2011 and 2015
Figure 21 Adhesives: Value Chain Analysis
Figure 22 Polyurethane to Dominate Automotive Adhesives Market, 2016 vs 2021 (Kiloton)
Figure 23 Body in White Application Dominates the Automotive Adhesives Market
Figure 24 Passenger Cars to Dominate Automotive Adhesives Market, By Vehicle Type, 2016 vs 2021
Figure 25 Asia-Pacific—Attractive Destination for All Automotive Adhesives Resin Types
Figure 26 Future Growth for Adhesives Applications Centered in Asia-Pacific
Figure 27 North America Market Snapshot
Figure 28 U.S. to Dominate Automotive Adhesives Market in North America, 2016–2021
Figure 29 Germany to Dominate Automotive Adhesive Market, 2016–2021
Figure 30 Asia-Pacific Market Snapshot—China Dominates the Automotive Adhesives Market
Figure 31 Chinadominates Automotive Adhesive Market in Asia-Pacific Region
Figure 32 Brazil to Dominate the Automotive Adhesives Market in South America, 2016–2021
Figure 33 South Africa to Dominate the Automotive Adhesives Market in Middle East & Africa Between 2016 and 2021
Figure 34 Companies Adopted New Product Launch as the Key Growth Strategy, 2010–2016
Figure 35 Henkel AG & Co. KGaA: Company Snapshot
Figure 36 Henkel & Co. KGaA: SWOT Analysis
Figure 37 Bostik S.A.: Company Snapshot
Figure 38 Bostik S.A.: SWOT Analysis
Figure 39 H.B. Fuller: Company Snapshot
Figure 40 H.B. Fuller: SWOT Analysis
Figure 41 3M Company: Company Snapshot
Figure 42 3M Company: SWOT Analysis
Figure 43 The DOW Chemical Company: Company Snapshot
Figure 44 Sika AG: Company Snapshot
Figure 45 PPG Industries: Company Snapshot
Figure 46 Illinois Tool Works Corporation: Company Snapshot
Figure 47 Solvay S.A: Company Snapshot

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.

Different types of adhesives based on different resins are used in the automotive industry. These adhesives have distinct properties per the application requirements. These are classified based on their chemistries into polyurethane, epoxy, acrylic, silicone, silane modified polymer (SMP), polyamide, and others. Polyurethane adhesive is the dominant type segment of automotive adhesives, followed by the acrylics adhesives segment. 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.

Passenger cars, buses, heavy trucks, LCV, and others are considered under the vehicle type segments in the report. Passenger cars is the dominant segment among all vehicle types in the automotive adhesives market and is estimated to grow at the highest CAGR between 2016 and 2021. The rising sales of passenger cars is driven by the improved spending ability in countries such as India, China, and Brazil. The per capita income in these countries has witnessed significant growth and it is projected to continue during the forecast period.

Asia-Pacific is the fastest-growing automotive adhesive market, in terms of both value and volume. Countries such as China, South Korea, India, Indonesia, and Thailand are witnessing a gradual increase in the use of automotive adhesives. In 2015, China dominated the automotive adhesives market in Asia-Pacific. It is projected to remain the biggest market in the Asia-Pacific region due to its high economic growth rate, growing purchasing power, developing infrastructure, increasing demand from end-use industries, and the global shift in production capacity from the developed markets to this region.

Automotive Adhesives Market

Though the automotive adhesives market is witnessing growth, few factors act as a bottleneck toward its growth. Volatility in raw material prices and regulations limiting the use of hazardous chemicals are the major restraints to the growth of this market.

Companies such as Henkel AG & Company (Germany), Bostik SA (France), H.B. Fuller (U.S.), 3M Company (U.S.), The Dow Chemical Company (U.S.), Sika AG (Switzerland), PPG Industries, Inc. (U.S.), and Illinois Tool Works Corporation (U.S.) are the key players in the global automotive adhesives market. Diverse product portfolio, strategically positioned R&D centers, continuous adoption of development strategies, and technological advancements are the few factors that have contributed towards strengthening the market position of these companies.

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