(MENAFN- America News Hour) In a recently published report, Global Automotive Adhesives Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Automotive Adhesives Market products.
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It is also anticipated to grow on account of the growing demand for chemicals from the end users, backed by the increasing consumption of chemicals across different industries and the rising need for advanced chemicals. In India, the production of major chemicals and petrochemicals during the period 2020-2021 was close to 12000 thousand MT. Additionally, between the period 2015-16 and 2019-20, the production of the chemicals and petrochemicals in the nation grew at a CAGR of close to 6%.
Global Automotive Adhesives Market is valued approximately USD 7.7 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 5.70 % over the forecast period 2019-2026. Automotive adhesive is a bonding material used to attach or join two parts or components with each other. These adhesives have wide applications in the automotive industry owing to its rapid and robust bonding quality between parts or components, ability to reduce vehicle weight lower carbon emission, increase fuel efficiency. Adhesives are used in automotive industry to assemble metal, rubber, plastics, glass, plastics and several other materials throughout the manufacturing of automobiles. In addition, these adhesives also assist in preventing the entrance of dirt and water in the car body shell and thus help in improving body stiffness, toughness and improved crash performance. Further, growing demand for lightweight and low carbon emitting vehicles, high demand for automotive adhesives from emerging economies has led the adoption of Automotive Adhesives across the forecast period. Also, with the increasing investment in EV, the adoption & demand for Automotive Adhesives is likely to increase over the forecast period. However, volatility in raw material prices impedes the growth of the market over the forecast period of 2019-2026.
The regional analysis of global Automotive Adhesives market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share owing to the growing production of passenger vehicles coupled with technology innovation. Further, with economic contraction and saturation in North America and Europe, manufacturers of adhesives are shifting their manufacturing base to APAC. This would create lucrative growth prospects for the Automotive Adhesives market across Asia-Pacific region.
Major market player included in this report are:
Henkel & Co. KGaA
Sika AG
3M Company
Dupont (Dowdupont)
H.B. Fuller
Bostik S.A.
Huntsman International LLC.
Ashland
PPG Industries
10 Illinois Tool Works Corporation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By resin:
Polyurethane
Epoxy
Acrylics
Silicone
SMP
MMA
Others
By application:
Body in white
Paint shop
Assembly
Powertrain
Based on vehicle type:
Passenger car
LCV
Truck
Bus
Aftermarket
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Automotive Adhesives Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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