Automotive adhesive Market was estimated at USD 6,209 Million in 2019 and predicted to grow at 6.1% CAGR during forecast period. GMI research observed that the global automotive adhesive market surpasses the demand as it minimized harmful vehicular emissions and vehicular weight and enhanced fuel efficiency.
Introduction of the Automotive Adhesive Market
Adhesives are also called glue, mucilage, etc. these are the bonding agents that can hold the substances together and bind metals, plastics, composites, and other materials. Adhesives are becoming popular in the automotive industry by automakers. Therefore, adhesives make vehicles lighter and strong and are used for adjoining the cabins, window glass, and interior design of a vehicle like electronic systems, seat covers, and others.
Key Players of the Market
Automotive Adhesive Market Dynamics
The factor which acts as a propeller in boosting the global automotive adhesive market size is the growing demand for low-weight materials in the automotive and other various industries over the forecast period. However, as per the automotive adhesive market global forecast, enhanced versatility, high mechanical stability, increased strength, and increased production speed along with reduced time and cost than the traditional products are bolstering the growth of the automotive adhesives market size. In addition, the automotive adhesives are fuel-efficient, reduce the harmful emissions and weight of vehicles coupled with giving chemical & temperature resistance, and low reduction are some factors burgeoning the market growth.
Furthermore, increasing technological developments and expansion in the automotive industry are dominant to a rise in demand for automotive adhesives in the market. Whereas, according to the automotive adhesive market forecast, the factor responsible for hampering the growth of the global automotive adhesives market is the increased prices of the raw materials required for production.
Asia-Pacific is estimated to lead the market and grow at the fastest compound annual growth rate during the forecast period due to the achieved economic saturation level in regions like North America and Europe. The development of the industrial sector and the rising opportunities in the developing countries further led to the demand for the global automotive adhesives market in the Asia Pacific.
Automotive Adhesive Market Segmentation
Segmentation By Resin
Segmentation By Technology
Segmentation By Application
Segmentation By Vehicle Type
Segmentation By Region
Rest of World
Introduction of GMI Research
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