Global Automotive Adhesives and Sealants Market was sized US$8.51 Bn in 2017 and is anticipated to reach US$13.97 Bn by 2026 at a CAGR of about 6.39 % during a forecast period.
Global Automotive Adhesives and Sealants Market is segmented by type, by application and by region. Automotive Adhesives and Sealants market is segmented into Acrylic, PVA, Polyurethane, Rubber, Epoxy and silicones. Under the Hood and power train, Assembly, Paint shop and Body in white are application segment of Automotive Adhesives and Sealants market. Geographically into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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Adhesives are used in the automotive industry for the application of bonding and for the functions of providing resistance against heat and corrosion. High performing adhesives are used in order to bond a number of automotive components like windshields and wire harnesses. Automotive sealants play an important role in providing safety and comfort to the vehicle besides contributing in vehicle durability and strength. Automotive sealants also help in achieving consistency and integrity in the vehicle.
Among all types, the volume sales of epoxy accounted for the largest share of more than 20.0% in the market in 2017. The superior properties of epoxy-based adhesives are rigid bonding which aids in enhancing the structural integrity of the vehicle.
Based on application, during the forecast period, the market is expected to witness the highest growth for assembly applications, with CAGR of 6.5%, to reach US$ 3.5Bn by 2026. This is attributed to the increasing vehicle manufacturing across the world, driven by the increasing purchasing power of consumers.
Asia-Pacific is expected to continue being the largest and fastest-growing automotive adhesives and sealants market in the coming years. Asia-Pacific is one of the major regions where the sales of vehicles is growing at a rapid pace. Such increase in demand for vehicle production is driving the market growth in the region.
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Henkel AG & Co. KGaA, DowDuPont Inc., Sika AG, PPG Industries Inc., 3M Company, H.B. Fuller Company, Permatex, Bostik SA, Illinois Tool Works Inc., EFTEC AG, Evonik Industries, BASF, DSM Inc., Avery Dennison, Bostik, AkzoNobel N.V., Franklin Adhesives & Polymers, Lord, Huntsmen, Ashland, Solvay, PPG Industries, SIKA are key players included in the Automotive Adhesives and Sealants market.