A Look into Automotive Adhesives & Sealants Industry……Deep Analysis…..Posted by Mrudula Anil Karmarkar on December 4th, 2020 The global automotive adhesives & sealants market is expected to reach USD 3.89 billion by 2021, according to a new report by Grand View Research, Inc. Growing concerns regarding fuel consumption and greenhouse gas (GHG) emissions are expected to boost the demand in commercial as well as passenger vehicles. The global COVID-19 pandemic has led to a sudden pause to manufacturing activities across the globe, affecting the demand for plastics and also production & processing of them. The most critically impacted end-use segments of the plastics industry include automotive & transportation, consumer goods, industrial equipment, construction, and electronics. The report will account for Covid19 as a key market contributor. A 10% reduction in the weight of an automobile results in approximately 5% to 7% fuel saving. In addition, the reduced weight also aids in controlling the emission of CO2 throughout the life cycle of the vehicle. Auto manufacturers are focusing mainly on auto components that are manufactured from various types of thermoplastic elastomers in order to enhance the performance of automobiles and follow the trend of lightweight vehicles. Manufacturers are facing problems in sourcing petroleum-based tackifiers due to the advent of shale gas, which has resulted in supply uncertainty of raw materials across the globe owing to a shift in feedstock from naphtha to natural gas. Stringent government regulations for the usage of bio-based adhesives are further expected to positively influence the industry growth. Further key findings from the report suggest:
Silicone sealants occupied the largest share with over 32% of the volume in 2016. Silicone-based materials also withstand structural movement, offer protective qualities and may be utilized in extreme temperatures & weather conditions. These factors, along with the introduction of new modified silicones and novel applications being developed for automobiles, are expected to drive growth in this segment over the forecast period. The global automotive adhesives & sealants market size was estimated at a combined total of 1,353.4 kilotons in 2016. Stringent environmental regulations formulated by authorities in order to reduce carbon emissions have driven the demand for lightweight bonding materials in place of conventional heavy metal fasteners. Adhesives currently utilized in the automotive industry are mostly synthetic in nature, with raw materials such as vinyl acetate monomer, acrylics, polyester resins, epoxide resins, amine-based resins, ethylene, and propylene among others. However, major industry participants are increasingly formulating innovative products using bio-based & renewable feedstock. Have a Query? Ask Our Expert: https://www.grandviewresearch.com/inquiry/4596/ibb Current players in the industry include BASF, Henkel, 3M Inc., Avery Dennison, Bostik, AkzoNobel N.V., Franklin Adhesives & Polymers, Evonik Industries, DSM Inc., H.B. Fuller & Co. among others. Grand View Research has segmented the global automotive adhesives & sealants market on the basis of technology, product, application, function, vehicle type and region: Adhesives Technology Outlook (Volume, Kilo Tons; Revenue, USD Million, 2011 - 2021)
Adhesives Function Outlook (Volume, Kilo Tons; Revenue, USD Million, 2011 - 2021)
Adhesives Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2011 - 2021)
Adhesives Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2011 - 2021)
Adhesives Vehicle Type Outlook (Volume, Kilo Tons; Revenue, USD Million, 2011 - 2021)
Sealants Function Outlook (Volume, Kilo Tons; Revenue, USD Million, 2011 - 2021)
Sealants Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2011 - 2021)
Sealants Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2011 - 2021)
Sealants Vehicle Type Outlook (Volume, Kilo Tons; Revenue, USD Million, 2011 - 2021)
About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For More Information:www.grandviewresearch.com
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