In a recent published report, Kenneth Research has updated the market report for Automotive Adhesive and Sealants Market for 2021 till 2030. 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 the 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 be 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 Analsysis and U.S. Census Bureau mentions 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) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest 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 Automotive Adhesive and Sealants Market products.
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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global Automotive Adhesive and Sealants Market is estimated to reach 2,217 kilo tons by 2024; growing at a CAGR of 6.4% from 2016 to 2024. Adhesives presently utilized in the automotive industry are generally synthetic in nature, with raw materials as acrylics, polyester resins, vinyl acetate monomer, amine based resins, epoxide resins, ethylene, and propylene and others. Nevertheless, major industry contributors are increasingly framing innovative products using renewable feedstock and bio-based. Sealants, which were conservatively acrylic-based or silicone, are also being advanced with innovative technologies and renewable feedstock to foster improved product properties. New technologies as multipurpose sealants and anchoring introduced by Sika AG own waterproof properties designed exactly for automotive applications.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global automotive adhesive and sealant market growth has been principally driven by the high development in global automotive market over the past years. Adhesives and Sealants are most chosen because of their competence to reduce vibration and noise. Some of the most projecting adhesives and sealants are polyurethanes, acrylic, silicone, polyvinyl etc. Adhesives and Sealants are used in construction, and building, automotive transportation, woodwork and furniture, packaging, etc. A number of innovative chances are coming in this market. Increasing demand in the automotive market has amplified focus on Adhesives and Sealants. To serve this enlarged demand of Adhesives and Sealants, a number of new funds are being made by the raw materials suppliers.
The global automotive adhesive and sealants market has been categorized as application, type, and geography. Application segment is further bifurcated into BIW, UTH and power train, paint shop, assembly. Similarly type segment is again divided as epoxy, acrylics, polyurethanes, rubber, PVC, silicones, hot melts. By geography, the global automotive adhesive and sealants is segmented into North America, Europe, Asia-Pacific, and Rest of the world (RoW). The U.S., Canada, and Mexico are covered under North America wherein Europe covers UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific covers China, India, Japan, South Korea, and Rest of Asia-Pacific. Rest of the World covers South America, Middle East, and Africa.
Key players in the global automotive adhesive and sealants are Evonik Industries, BASF, DSM Inc., Henkel, 3M Inc., Avery Dennison, Bostik, AkzoNobel N.V., Franklin Adhesives & Polymers, H.B. Fuller & Co among others.
The key takeaways from the report:
The report will provide a detailed analysis of Global Automotive Adhesive and Sealants Market with respect to major segments such as type, application, and geography
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The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Global Automotive Adhesive and Sealants from 2015 to 2024 will be included in the report
Profile of the key players in the Global Automotive adhesive and sealants will be provided, which include key financials, product & services, new developments and business strategies
Scope of Automotive Adhesive and Sealants Market:
Application Segments
BIW
UTH and Power Train
Paint Shop
Assembly
Type Segments
Epoxy
Acrylics
Polyurethanes
Rubber
PVC
Silicones
Hot Melts
By Geographical Segment
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
RoW
South America
Middle East
Africa
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