Automotive Adhesives Market– Overview
The automotive industry is rapidly experiencing technological changes, as over the time efficient and eco-friendly electric cars are replacing combustion engines. Innovative adhesive solutions help in providing safe and invisible joining method, they facilitate visually appealing interiors, provide effective sound insulation and clean passenger cells due to efficient filter technologies, thereby driving the growth of the Automotive Adhesive Market.
Automotive manufacturers rely on adhesive technology as fixed component of their production lines. Adhesives are majorly used in the interior of the cars. Adhesives support an efficient manufacturing process and help in matching the requirements of individual components.
Automotive Adhesives are used for a wide range of applications such as attaching emblems, manufacturing of complete textile convertible roofs, and from surface coverage of the columns to the assembly of sub-layers of seats. Adhesives are also essentially required for interior decorative trim, trunk cover and lining, sound and vibration absorption, assembly and special applications and for manufacturing of filters among others.
Electronic systems within the car make use of many adhesives – such as potting and sealing electrical components, sensors, switches and relays, bonding electric motors, and a whole host of other applications. Adhesives offer a lightweight and reliable alternative to welding. They also allow greater freedom of use of dissimilar materials and offer better stress distribution, which has led to an increase in the use of adhesives majorly for the electric vehicles.
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Automotive Adhesives Market– Competitive Analysis
The Automotive Adhesive Industry is highly fragmented with the presence of multinationals across several nations. The continuous increase in entry of small & medium sized players into the industry is expected to increase the competition in the industry. Increasing technological & product innovation is driving the growth of the industry as companies expand their product portfolio and consolidate their positions in the industry.
Key players invest heavily in Research and Development activities for developing advanced products to cater to the requirements of the automotive market. Companies are opting for Mergers and Acquisitions as a strategy for driving growth.
Industry/ Innovation/ Related News:
June 2017- BASF expanded its automotive coatings production in North America with investments of nearly $40 million. The investment will add capacity to the company’s production plants in Greenville, Ohio, and Tultitlan, Mexico. The investments reflect BASF’s commitment to develop sustainable production platform which provides customized coatings solutions.
February 2016- Henkel invested 200 Crore for the expansion of its adhesive plant in India. The company planned to double its production capacity by setting up sealant and adhesive plant in Pune. The new plant is a part of the plan to consolidate all businesses of Henkel at one location.
November 2015- H.B. Fuller acquired Tonsan Adhesive, Inc., the largest independent engineering adhesives company in China. This helped manufacturers to unlock new design possibilities and gain access to global channels. For automotive original equipment manufacturers, the acquisition meant having an alternative adhesive partner for powertrain applications that is committed to a culture of service and collaboration.
February 2015- Dow Automotive Systems entered into an agreement with Ford for supply of structural adhesives. Ford F-150 utilizes betamate structural adhesives for durability, weight reduction and improved manufacturing efficiencies. Dow Automotive is also the supplier of betaseal glass bonding adhesives, which is the windshield bonding material in the F-150.
Automotive Adhesives Market– Segmentation
The Automotive Adhesives Market can be segmented in to 2 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Type – Polyurethane, Acrylic, Polyamide, Others
Segmentation by Application– Paint Shop, Assembly, Powertrain, Others
Segmentation by Regions: North America, Europe, APAC and Rest of the World.
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Automotive Adhesives Market– Regional Analysis
Asia-Pacific is the fastest-growing region in the Automotive Adhesive Market. Countries such as China, South Korea, India, Indonesia, and Thailand are witnessing a gradual increase in the use of Automotive Adhesive owing to its high economic growth rate, growing purchasing power, developing infrastructure, increasing demand from end-use industries, and the global shift in production capacity from the developed markets to this region.
North America region is expected to experience growth owing to rebounding automotive sector in the U.S. and Mexico. The region benefits from lower feedstock prices as a result of the recent shale gas boom, which impacted manufacturer profit margins positively.
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