PUNE, India, November 30, 2015 /PRNewswire/ --
The report "Automotive Adhesives Market by Resin Type (Polyurethane, Epoxy, Acrylic, Silicone, SMP, Polyamide, & Others), by Application (Body in White, Paintshop, Powertrain, & Assembly) & by Vehicle Type (Passengers Vehicles, Buses, Trucks, LCV & Others) - Global Forecast to 2020", published by MarketsandMarkets, The Automotive Adhesives Market is estimated to grow from USD 3.74 Billion in 2015 to USD 5.56 Billion by 2020, at a CAGR of 8.2%.
Browse 123 market data Tables and 47 Figures spread through 164 Pages and in-depth TOC on "Automotive Adhesives Market"
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The market is driven by rising use of adhesives in the vehicles for weight reduction as well as to bolster the fuel efficiency. The automotive industry uses lightweight materials such as plastics, composites, and aluminum, which ultimately demand better adhesive materials. So, it is a prime factor for the growth of automotive adhesives, globally. Among all regions considered, Asia-Pacific and RoW are estimated to witness a strong growth in the next five years. Also, the demand across these regions is reinforced by the emerging markets, namely, China, Brazil, and India.
Body in white is the largest application of automotive adhesives market.
Automotive adhesives are used in various applications such as body in white, paintshop, powertrain, and assembly. These are the main applications considered in the report. In 2015, the body in white application segment is estimated to account for the largest market share among all the applications, in terms of volume, followed by paintshop, assembly, and powertrain applications. The assembly application is estimated to grow at the highest CAGR between 2015 and 2020 among all the applications considered.
Rising demand from Asia-Pacific is the major driver for automotive adhesives market
In 2015, Asia-Pacific is estimated to account for the largest market share, in terms of volume, and is projected to grow at the highest CAGR between 2015 and 2020. The robust demand in Asia-Pacific region is the major driving factor for the automotive adhesives market. China led the adhesive demand due to increased production of vehicles in the last 2-3 years. It is also the largest consumer of automotive adhesives at the global level. Other emerging economies such as Brazil, India, and Mexico are projected to have a bright future in this market.
The scope of the report covers detailed information regarding the major factors influencing the growth of the automotive adhesives market such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into their business overview, products & services, key strategies, new product launches, mergers & acquisitions, partnerships, agreements, collaborations, and recent developments associated with the market.
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The key players in the automotive adhesives market are Henkel AG & Company (Germany), The Dow Chemical Company (U.S.), 3M Company (U.S.), HB Fuller (U.S.), Bostik SA (France), Sika AG (Switzerland), Illinois Tool Works Corporation (U.S.), PPG Industries (U.S.), Jowat SE (Germany), Cytec Industries (U.S.), and other local players.
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