Automotive Adhesives and Sealants Market 2022
During the projected period, the market for automotive adhesives and sealants is anticipated to expand in a pronounced manner. It would be interesting to think about how quickly the energy shift will happen given the different need for plastics and specialised chemicals. Spending on chemicals will also require scrutiny. In the years to come, the market would look like this.
Now-a-days, latest technologies like AI, machine learning and IoT are playing huge role in the chemical industry leading to cost-effective and streamlined manufacturing processes. Persistence Market Research (PMR) has covered all these tech advances in its latest analysis and market outlook.
Due to the environmental concerns about the emissions of greenhouse gases from automobiles, there is a trend to produce lightweight automobiles. This is because a reduction in the weight of the vehicle results in fuel savings and also helps in the reduced emission of carbon dioxide and other greenhouse gases. To attain this aim of producing lightweight vehicles, automobile manufacturers are concentrating on producing different types of thermoplastic elastomers. In addition, manufacturers are not getting an easy access to petroleum based products due to the popularity of shale gas, due to which there is a supply uncertainty of raw materials across the world due to a shift from naphtha to natural gas. Moreover, the stringent government rules regarding the use of bio-based adhesives are expected to influence the global automotive adhesives and sealants market in a positive manner.
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A new report delivered by Persistence Market Research titled ‘Automotive Adhesives and Sealants Market: Global Industry Analysis 2012-2016 and Forecast 2017-2026’ studies the performance of the global automotive adhesives and sealants market over a nine year assessment period which starts from the year 2017 and ends in the year 2026. The report presents the forecast by value of the global automotive adhesives and sealants market and provides valuable information regarding the market dynamics such as drivers, restraints, opportunities and trends. As per the assessment of Persistence Market Research, the global automotive adhesives and sealants market was estimated to be valued at nearly US$ 4,600 Mn at the end of the year 2017 and is poised to reach a valuation of nearly US$ 6,500 Mn at the end of the forecast period in 2026, and in the process display a CAGR of 4.0% during 2017-2026.
Polyurethane Largest Product Type in Terms of Revenue Share
The polyurethane segment in the product type category of the global automotive adhesives and sealants market is the largest in terms of value and is slated to display a CAGR of 3.5% during the period of forecast. The polyurethane segment is anticipated to reach a market valuation of nearly US$ 1,400 Mn at the end of the period of forecast.
Paint Shop Segment by Application to Lead in Terms of Revenue
The paint shop segment in the application category of the global automotive adhesives and sealants market is anticipated to display a CAGR of 3.8% during the period of forecast. The paint shop segment was estimated to be valued at nearly US$ 2,050 Mn in the year 2017.
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Passenger Cars Segment by Vehicle Type Slated to Exhibit the Fastest Growth Rate
The passenger cars segment in the vehicle type category of the global automotive adhesives and sealants market is slated to display the fastest CAGR of 4.6% during the period of forecast. The passenger cars segment is forecasted to reach a market valuation of nearly US$ 3,600 Mn by the end of the year 2026.
APEJ Automotive Adhesives and Sealants Market to Emerge the Largest in Terms of Value Among Other Regional Markets
The automotive adhesives and sealants market in APEJ is the largest in terms of revenue and is anticipated to display a CAGR of 4.8% during the period of forecast. The APEJ regional market is likely to reach a valuation of nearly US$ 2,800 Mn by the end of the period of assessment in 2026.
Competition Landscape of the Global Automotive Adhesives and Sealants Market
In the competition landscape section of this report some of the important companies operating in the global automotive adhesives and sealants market are profiled. Some of the top companies featured in this report include BASF SE, Delo, 3M, Permabond LLC, PPG Industries, Inc., Henkel AG & Co. KGaA, Evonik Industries AG, The Dow Chemical Company, Jowat SE and Hernon Manufacturing Inc.
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