Henkel AG & Company and Bostik SA, H.B. Fuller are the Major players Automotive Adhesives Market
New product launch is the key strategy adopted by the market players to achieve growth in the global automotive adhesives market. This strategy accounted for the largest share of all the strategies adopted by the market players to expand their global presence and increase their share in the automotive adhesives market between 2010 and 2016. 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. This has encouraged the companies involved in automotive adhesives manufacturing to adopt different development strategies.
Some of the leading automotive adhesives manufacturers are 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.). These companies have adopted various organic and inorganic growth strategies to improve their businesses and maintain their market share, globally.
Besides new product launches, the companies adopted mergers & acquisitions; investments & expansions; and partnerships, contracts & agreements to expand their market share and distribution network. These strategies also accounted for a significant share of the total number of growth strategies adopted by the players in the global automotive adhesives market between 2010 and 2016.
Major players, such as Henkel AG & Company, Bostik SA, H.B. Fuller, 3M Company, The Dow Chemical Company, and Sika AG (Switzerland), adopted new product launch as their key growth strategy between 2010 and 2016.
In September 2014, Henkel introduced Loctite 4090, a hybrid adhesive offering the benefits of high impact and temperature resistance as well as versatile and excellent bonding resistance. This adhesive is used to bond different metal to plastics and metal to metal in the automotive end-use application.
In September 2013, Henkel opened the world’s largest adhesives factory in Shanghai, China with a total production capacity of up to 430 thousand tons. It pools together adhesive production from around the greater Shanghai area and supplies to the Asia-Pacific region. This move is a part of the company’s strategy to consolidate and optimize its global production network.
Related 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
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