The global automotive adhesives market is anticipated to grow significantly at a CAGR of 7.4% over the forecast period (2020-2026). Automotive adhesives are the chemicals that are meant to join the two surfaces together in a vehicle. It offers a variety of benefits such as thermal, chemical, impact, and abrasion resistance in the automobile assembly. The key factor that drives the growth of the global automotive adhesives market is the rapidly evolving automobile industry across the globe. Excellent properties offered by the automotive adhesives further supports the growth of the market over the forecast period.
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Besides, supportive government initiatives promoting the use of modern adhesives for automobiles also enhance market growth as it lessens the harmful carbon emissions and enhances the efficiency of the fuel. For instance, in April 2019, the European Commission declared CO2 emission standards that stated the reduction of CO2 levels by 37.5% and 31.0%, for cars and vans respectively by 2030, in comparison with 2021.
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The presence of the key players operating in the market also contributes to the growth of the global automotive adhesives market over the forecast period. Key players such as 3M Co., BASF SE, Dow Inc., Henkel AG & Co., KGaA, Solvay SA, Akzo Nobel NV, Arkema SA, Ashland Global Specialty Chemicals Inc., Franklin International, H.B. Fuller Co., and Huntsman International LLC among others engage in the multiple R&D activities, new product launch, geographical expansion, merger & acquisition to increase their revenue in the competitive market.
Global Automotive Adhesives Market – Segmentation
By Resin Type
- Polyurethanes
- Polyamide
- Acrylics
- Silicone
- Epoxy
- SMP
- MMA
- Others
By Adhesive Type
- Tapes & Films
- Liquid Gasket
- Structural
- Thread-Locks & Retainers
- Others
By Application
- Assembly
- Body in White (BIW)
- Glazing
- Paint
- Upholstery
- Others
By Application
- Passenger Vehicle
- Two-Wheeler
- Commercial Vehicle
By Sales Channel
- OEM & Auto-Ancillaries
- Aftermarket/Retail
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