Allied Market Research

2024

Light Commercial Vehicle Adhesives Market

Light Commercial Vehicle Adhesives Market Size, Share, Competitive Landscape and Trend Analysis Report by Resin Type, by Technology and by Application : Global Opportunity Analysis and Industry Forecast, 2023-2032

AT : Automotive systems and accessories

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Author's: | Lalit Janardhan Katare
Publish Date:

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Light Commercial Vehicle Adhesives Market Outlook – 2027 

Adhesives are lightweight multipurpose components used by automakers to make cars lighter and tougher. Lightweight commercial vehicle adhesives are increasingly used in the automotive industry for binding numerous vehicle components such as doors, chassis module and others. Furthermore, growth in adoption of adhesives among light commercial vehicle manufacturers reduces the weight of the chassis, improves crash performance, increases toughness of front & rear lateral body and reduces noise & vibration. Numerous important physical properties of the light commercial vehicle adhesives include the ability to bind different types of vehicle parts such as dashboards, door panels, electronics, light covers, lenses and steel & alloyed components together. Therefore, the ability to bind different materials are anticipated to boost the growth of the light commercial vehicle adhesives market. 

COVID-19 scenario analysis: 

  • The light commercial vehicle adhesives industry is facing major transportation delays due to the travel restrictions owing to the lockdown.
  • Light commercial vehicle adhesives market is experiencing a devastating decline in the demand due to the closure of factories owing to the lockdown which led to disruption in all operations for the light commercial vehicle adhesives market.
  • Majority of global light commercial vehicle adhesives manufacturers are facing issues such as unavailability of workforce due to the government declared lockdown which in turn affects the production of the light commercial vehicle adhesives.
  • The governments across the affected countries have declared lockdown over the past few months, which has disrupted the supply chain network of light commercial vehicle adhesives manufacturers.

Top impacting factors: market scenario analysis, trends, drivers and impact analysis

Rise in demand for lightweight & low-carbon emitting vehicle and technological advancements in adhesives from end-use industries drive the growth of the global market. However, instability in prices of raw materials is expected to hamper the growth of the market. On the contrary, increase in demand for low volatile organic compounds (VOCs) and green & sustainable adhesives provide lucrative opportunity for the market growth.

The global light commercial vehicle adhesives market trends are as follows:

Advancements in adhesives 

The commercial industry increases the requirement for a lightweight & compact design to sustain the operating costs, increase the usability and meet consumer expectations. Furthermore, advancement in adhesives such as biomimetic adhesives allow automakers to bind raw materials such as carbon fiber, aluminum, & others, which offer cost saving and performance improvements. Thereby, advancements are required to avoid stress concentration to deliver a lightweight commercial vehicle. Therefore, the advancements in adhesives is expected to boost the growth of the light commercial vehicle adhesives market in the near future. 

Increase in demand for low volatile organic compounds (VOCs) adhesives

Low volatile organic compound (VOC) adhesives refer to the components which are not harmful to the environment & humans. Low VOC adhesives are used to bind laminates, soft foams, lightweight material, and others for the construction of light commercial vehicle. Adhesives such as silane modified polymer (SMP) is an advanced form of low VOC adhesive which is odorless and free of isocyanates. Therefore, increase in demand for low volatile organic compounds adhesives is anticipated to drive the growth of the light commercial vehicle adhesives market. 

Key benefits of the report:

  • This study presents the analytical depiction of the light commercial vehicle adhesives industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with challenges of the light commercial vehicle adhesives market.
  • The current market is quantitatively analyzed to highlight the light commercial vehicle adhesives market growth scenario.
  • We can also determine adhesives will remain a significant revenue shareholder in the global light commercial vehicle adhesives market through the predictable future.

Questions answered in the global light commercial vehicle adhesives market research report:

  • Which are the leading market players active in light commercial vehicle adhesives market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?

Light Commercial Vehicle Adhesives Market Report Highlights

Aspects Details
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By Resin Type
  • Polyurethane
  • Epoxy
  • Acrylics
  • Silicon
  • Silyl-Terminated Polethers (STP)
  • Polyamide
  • Others
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By Technology
  • Hot Melt
  • Solvent-Based
  • Water-Based
  • Pressure Sensitive
  • Others
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By Application
  • Body in White (BIW)
  • Powertrain
  • Paint Shop
  • Assembly
  • Others
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By Region
  • North America  (US, Canada, Mexico)
  • Europe  (Germany, France, UK, Italy, rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, rest of Asia-Pacific)
  • LAMEA  (Brazil, Turkey, Saudi Arabia, South Africa, rest of LAMEA)
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Key Market Players

Illinois Tool Works Corp, 3M, Henkel & Co., PPG Industries, Sika AG, DOW Chemical, H.B. Fuller, KGaA, Jowat AG., Bostik S.A

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Light Commercial Vehicle Adhesives Market

Global Opportunity Analysis and Industry Forecast, 2023-2032