AutomotiveAdhesives Market

New Research Report by Allied Market Research Reveals Significant Market Expansion Driven by Lightweight Vehicle Demand & Advancements in Adhesive Technologies.

PORTLAND, OREGON, UNITED STATES, August 23, 2024 /EINPresswire.com/ -- According to a newly published research report by Allied Market Research, the global automotive adhesives market, valued at $4.7 billion in 2020, is projected to exceed $8.4 billion by 2030, with a robust compound annual growth rate (CAGR) of 5.9% from 2021 to 2030. This growth is fueled by increasing demand for lightweight vehicles and advancements in adhesive technologies.

The automotive adhesives industry is experiencing a substantial surge in growth, primarily due to the rising demand for lightweight and low carbon-emitting vehicles. This trend is supported by a significant increase in the use of aluminum and composite materials in vehicle manufacturing, driving the need for specialized adhesives.

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The comprehensive automotive adhesives market report provides an in-depth analysis of key growth strategies, market drivers, opportunities, key segments, Porter’s Five Forces analysis, and competitive landscape. It serves as a valuable resource for market players, investors, VPs, stakeholders, and new entrants to gain a thorough understanding of the industry and strategize effectively.

Key findings from the report include:

Polyurethane Resins: This segment represented one-third of the total market share in 2016. With its superior bonding properties, UV & heat stability, and rapid curing abilities, polyurethane resins remain in high demand in key markets such as Brazil, China, and Japan.
Epoxy Resins: Expected to grow at a rate of 5.4% during the forecast period, driven by their increasing application in various automotive components.
Regional Growth: The Asia-Pacific region is anticipated to lead the market in 2023, with a CAGR of 5.6%. China, in particular, is forecasted to continue its dominance, representing nearly half of the Asia-Pacific market.
Vehicle Segments: Light commercial vehicles accounted for nearly one-fifth of the total market in 2016, showcasing the significant role of adhesives in this segment.

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The polyurethane resin type segment accounted for one-third of the total market share, in terms of volume, in 2016. Moreover, this segment witnesses strong demand in countries such as Brazil, China, and Japan, owing to its superior properties such as bonding on different surfaces, UV & heat stability, rapid curing, superior chemical resistance, and enhanced optical clarity. Furthermore, these adhesives are increasingly utilized for the repair and maintenance work in automobiles. In addition, these are majorly used where there is requirement for higher efficiency at low operating costs.

Key Benefits of the Report:

In-Depth Market Analysis: Offers a detailed qualitative and quantitative analysis of market trends, forecasts, and size from 2021 to 2030.
Competitive Insights: Provides Porter’s Five Forces analysis to evaluate the bargaining power of buyers and suppliers, and understand market competition.
Regional Insights: Highlights key markets and revenue contributions by major countries.
Strategic Positioning: Analyzes market player positioning to understand their current standing in the automotive adhesives industry.
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About Allied Market Research:

Allied Market Research provides strategic insights and consulting services to help businesses make informed decisions. Our reports offer a deep dive into market trends and dynamics, empowering clients with actionable intelligence to drive growth and achieve competitive advantage.

David Correa
Allied Market Research
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