NEW YORK, Feb. 16, 2017 /PRNewswire/ -- Trends, opportunities and forecast in this market to 2021 by product type (epoxy, polyurethane, acrylic, and others), vehicle type (passenger car and light commercial vehicle), and application type (structural and non-structural)
The future of adhesives in the Indian automotive industry looks good with opportunities in the passenger car and light commercial vehicle segments. Adhesives in the Indian automotive industry are expected to reach an estimated $384.0 million by 2021 and forecast to grow at a CAGR of 8.4% by value from 2016 to 2021. The major drivers for growth of this market are growth in the production of passenger cars and light commercial vehicles.
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing use of plastics and lightweight materials in automotive applications and increasing use of water based adhesives.
The study includes a forecast for the growth opportunities for adhesives in the Indian automotive industry by product type, vehicle type, application type, and region, as shown below:
By Product (Volume M lbs. and $ M Shipment from 2010 to 2021)
- Epoxy Adhesives
- Polyurethane Adhesives
- Acrylic Adhesives
- Other Adhesives
By Vehicle (Volume M lbs. and $ M Shipment from 2010 to 2021)
- Passenger Car
- Light Commercial Vehicles
By Application (Volume M lbs. and $ M Shipment for 2015 and 2021)
- Structural components
- Non-structural components
Henkel AG & Co KGaA, The 3M Company, HB Fuller, Sika AG, and Huntsman are the major supplier of adhesives in the Indian automotive industry.
On the basis of its comprehensive research, Lucintel forecasts that the epoxy adhesive is expected to show above average growth during the forecast period.
Within the adhesives in the Indian automotive industry, the polyurethane adhesives segment is expected to remain as the largest market. It has better mechanical properties, and an increase in automotive production is expected to drive adhesives consumption, which would spur growth for this segment over the forecast period.
In this market, passenger car is expected to remain the largest segment due to growth of passenger car production.
Some of the features of "Growth Opportunities for Adhesives in the Indian Automotive Industry 2016-2021: Trends, Forecast, and Opportunity Analysis" include:
Market size estimates: Adhesives in the Indian automotive industry size estimation in terms of value ($M) and volume (M lbs.) shipment.
Trend and forecast analysis: Market trend (2010-2015) and forecast (2016-2021) by segments.
Segmentation analysis: Adhesives in the Indian automotive industry size by various applications such as product, vehicle, and application in terms of value shipment
Growth opportunities: Analysis on growth opportunities in different applications.
Strategic analysis: This includes M&A, new product development, competitive landscape, and expansion strategies of adhesives in the Indian automotive industry suppliers.
Analysis of competitive intensity of the industry based on Porter's Five Forces model.