Automotive adhesive is bonding substance that is primarily used to join two components or parts of vehicles. Adhesives have wide applications in the automotive industry, this is mainly due to growing trend of lightweight and fuel-efficient vehicles. Owing to this, use of fibre and plastics is increasing thus boosting the growth of automotive adhesive market.
Further, automotive adhesive offers rapid and robust bond between components or parts and that’s the reason they are used to stick a wide range of components such as sensors and other equipment.
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Some of the prominent factors expected to drive the global automotive adhesive market mentioned as below-
- Players in the automotive adhesive market are ramping up their investments to improve the quality of adhesives. This is a prominent factors expected to drive the global automotive adhesive market owing to their high shear and tensile strength.
- However, factors such as fluctuation prices of crude oil is anticipated to hamper the growth of the global automotive adhesive market. This is because automotive adhesive is primarily made from crude oil thus impacting the overall cost of tapes. In addition to this, high curing time and inefficiency of adhesive at high temperature are some other factors likely to hamper the growth of the automotive adhesive market.
- Nevertheless, surge in the use of electronic products in car interiors, rising in production of electric and hybrid vehicles and significant growth in automotive industry some of the prominent factors expected to drive the global automotive adhesive market.
Automotive adhesive is a bonding substance that is used to join or attach two components or parts with each other. In the automotive industry, adhesives have wide applications, as they provide rapid and robust bonding between components or parts. Adhesives are utilized in an automobile to attach or stick a wide range of components, from gluing a small sensor to bonding the chassis of the vehicle. Generally, the material employed for manufacturing the adhesive possess high shear and tensile strength.
The global automotive adhesive market is primarily driven by the preference of automakers toward reduction of vehicle weight. Usage of nut bolts and screws has reduced significantly, as the adhesives provide stronger boding between the parts, leading to a reduction in vehicle weight. Another key driver of the global automotive adhesive market is the capability of an adhesive to join any similar or dissimilar components of different shapes. Brittle materials, such as glass, can be joined easily by an adhesive. Furthermore, joining the components or parts with adhesive does not cause deformation or corrosion of the components being joined. Moreover, utilization of an adhesive provides great flexibility and enhanced esthetic appearance to the component or part.
A key restrain of the global automotive adhesive market is longer curing time coupled with reduction in resistance at high temperature. Adhesives take longer time in order to provide strong bonding between the two components and to achieve final strength. The bonding ability of an adhesive decreases as the temperature increases, which is also a major restraint of the global adhesive market.
The global automotive adhesive market can be segmented based on resin type, technology, application, adhesive type, state, vehicle type, and region. In terms of adhesive type, the global automotive adhesive market can be classified into seven segments. Epoxy resins are widely utilized as they provide a durable and extremely strong bond with a variety of materials. The epoxy resin contains epichlorohydrin compound, which provides a harder outer layer and makes the resin resistive to moisture, humidity, and extremely hot or cold temperature.
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In terms of technology, the global automotive adhesive market can be divided into five segments. Rubber-based adhesives are utilized for joining components in the interior of the vehicle, such as car door panel, and is capable of bonding notoriously difficult automotive substrates. Water-based adhesives produce lower emission and hence, are preferred instead of solvent-based adhesives.
Based on application, the global automotive adhesive market can be segmented into four segments. Body in white comprises several components that need to be bonded such as A, B, C, columns, door panels, and other interior components. Adhesive plays an important role in weight reduction while manufacturing the vehicle chassis.
In terms of adhesive type, the automotive adhesive market can be segregated into three segments. Structural adhesives possess relatively high strength and are capable of functioning at well below their glass transition temperature. These type of adhesives can sustain significant stresses; therefore, they can be employed for structural applications such as chassis building. Semi structural adhesives also possess considerable strength and can sustain prominently higher stresses in a structure.
Based on state, the global automotive adhesive market can be segmented into five segments. Tapes are preferred for adhering lightweight components such as sensors and other light weight components. Liquids and paste forms of adhesives are most commonly utilized in high strength applications.
Based on vehicle type, the global automotive adhesive market can be classified into two major segments. Light weighting and downsizing are dominating trends in the global automotive industry. Passenger vehicles as well as light commercials vehicles witness significant utilization of adhesives for building structures and bonding add-on accessories into these vehicles.
In terms of geography, the global automotive adhesive market can split into five prominent regions. Asia Pacific accounts for large number of vehicles and hence, the region holds a major shares of the global market, in terms of revenue. Europe follows Asia Pacific, in terms of share of the global market, and production of lightweight vehicles is major concern of vehicle manufacturers in the region.
Key players operating in the global automotive adhesive market include Master Bond Inc., Covestro AG, Permabond LLC., 3M, Bostik, DELO Industrie Klebstoffe GmbH & Co. KGaA, ADCo Corporation, Jowat SE, H.B. Fuller Company, tesa SE, Henkel Corporation, Texyear Industrial Adhesives Private Limited, PREMIUM METALS & COMPONENTS PVT. LTD., and Huntsman Corporation.
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