Automotive Adhesives and Sealants Market Analysis Size, Growth rate and Overview:
Automotive Adhesives and
Sealants Market was valued at USD xx million in
2017 and is expected to reach almost USD xx million by the end of 2023, growing
at a CAGR of around 5.85% over the predicted period.
Automotive adhesives and
sealants are the substances that are used for various bonding and sealing
applications in the automotive industry. These materials are chemically similar
but functionally different. They help in improving driving comfort,
performance, reliability, and safety of vehicles.
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Automotive Adhesives and Sealants Market Key Drivers, Challenges, and Opportunities:
Increasing
demand for automotive, construction, presence, furniture, footwear and
pressure-sensitive applications is the main driver of growth. The growing
penetration of light passenger cars with higher fuel economy and lower emissions
has boosted the sales of high-performance adhesives throughout the automotive
industry. As a result, it is expected that traditional welding and other
mechanical fastening methods will be replaced by improved adhesives with
superior bonding capabilities. Car makers are exploring ways to create the
lightest vehicle possible to maximize the speed and power of the vehicle, using
lightweight materials, such as plastic, composites and aluminum.
In
order to maintain the integrity of light vehicles, manufacturers throughout the
world use adhesives and sealants. Therefore, it is expected that the growing
demand for light vehicles will drive the market growth of automotive seals and
adhesives. However, such level of maturity and comfort with a unique technology
poses a challenge for the penetration of products, which can offer several
advantages. Industry is not very aware and it is also reluctant to try stickers
instead of traditional winding processes. Therefore, little awareness about the
advantage of adhesives and sealants in the automotive industry is one of the
main factors that could slow down the growth. Due to growing environmental
concerns, companies are developing biological base stickers and it is hoped
that sealants will create ample opportunities for industry players operating in
the market.
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Automotive Adhesives and Sealants Market –
Regional Presence:
In
terms of revenue, it is anticipated that the Asia Pacific adhesive market will
be the fastest testimony of 7.2% during the forecast period. It is estimated
that rapid industrialization, strong GDP growth and increased manufacturing
output will boost regional growth. The adhesive market in Europe is largely led
by Germany, France and the USA, in terms of consumption, in a wide range of
applications. Regional growth is mainly due to the growing demand for
automobiles, doctors, engineering and electronics.
North
America was one of the largest regional segments in the seafood market with a
revenue share of 22.7%. The demand is mainly due to the presence of a large
number of industries of final use and the increase of the cost in construction
in the Europe.
Some of the Key Players Profiled
in this Automotive Adhesives and
Sealants Market Report are:
DowDuPont
Inc., Henkel AG & Co. KGaA, Sika AG, 3M Company, PPG Industries Inc., H.B.
Fuller Company, Illinois Tool Works Inc., Permatex, Bostik SA and EFTEC AG.
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Global Sales Manager
Research Cosmos
www.researchcosmos.com
+1 888 709 8757
https://marketreportsweb.com/
https://acutemarketinsights.com/
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