Passenger Car Adhesives Market Outlook - 2027
Adhesives are the most versatile bonding components used by automakers to make cars lighter and tougher. It can be found naturally or can be synthetically produced. But the adhesives that are currently utilized in the automotive industry are mostly synthetic in nature, which are used to bind metals, composites, plastic, and other materials. Adhesives are increasingly being used in the automotive industry for binding numerous vehicle components, such as in doors and chassis modules. Growth in adoption of these glues among passenger car manufacturers reduces the frame weight of vehicle, increases toughness of front & rear lateral body, improves crash performance, and reduces noise and vibration. In addition, adhesive binding leads to construction of new advanced and state of the art passenger car frame designs. Moreover, adhesives offer high bonding strength equally distributing the stress across joints and lines. Some of the important physical properties of the passenger car adhesives include the ability to bind different types of vehicle parts such as dashboards, door panels, electronics, light covers and lenses as well as steel and alloyed components together. Therefore, increase in usage of these adhesives is expected to benefit the frame of the vehicle.
COVID-19 scenario analysis:
- Majority of global passenger car adhesives manufacturers are facing issues such as closure of factories and unavailability of workforce due to the lockdown, which further affects the production of the car.
- The governments across the globe have declared lockdown over the past few months, which disrupted the demand and supply cycle of many global passenger car adhesives manufacturers.
- The chemical industry is facing major transportation delays because of travel restrictions.
- Sectors that use adhesives are experiencing varying levels of demand due to both the pandemic and massive reductions in oil prices.
- In this COVID situation, the real manufacturing Gross Value Added (GVA) is estimated to fall by a sharp 4-6% in FY21
Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Rise in demand for lightweight and low-carbon emitting vehicles 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), green and sustainable adhesives provides lucrative opportunity for the market growth.
The global passenger car adhesives market trends are as follows:
Rise in the demand for lightweight and low-carbon emitting vehicles
Severe emission discharge control norms and regulations regarding low-carbon emitting vehicles have compelled manufacturers to take measures for reducing vehicle weight significantly; thereby, boosting the demand for lightweight vehicles. Vehicle weight can be reduced by considerably using adhesives that are used to bind together the frame of the vehicle and increase the toughness of the front & rear lateral body. Therefore, rise in demand for lightweight and low-carbon emitting vehicles boosts the growth of the automotive passenger car adhesives market.
Key benefits of the report:
- This study presents the analytical depiction of the automotive passenger car 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 market.
- The current market is quantitatively analyzed to highlight the automotive passenger car adhesives market growth scenario.
- It is also determined that adhesives will remain a significant revenue shareholder in the market during the forecast period.
Questions answered in the global passenger car adhesives market research report:
- Which are the leading market players active in the automotive passenger car adhesives market?
- What are the current trends that will influence the market growth 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?
Passenger Car Adhesives Market Report Highlights
By Resin Type
Key Market Players
KGaA, PPG Industries, H.B. Fuller, Jowat AG., Illinois Tool Works Corp, 3M, Henkel & Co., DOW Chemical, Bostik S.A, Sika AG