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Type: PDF
Status: Syndicate
Categories: Advance Materials
Report Code : AM23
No. of Pages : 195
Adhesives and sealants are the most versatile bonding agents used to make cars lighter and tougher. Adhesives are made from precise blends of resins and agents, additives used to enhance certain characteristics, depending on the end use. In automotive market, adhesives are used to manufacture engines, body components, gear boxes, safety systems, seat systems and sub-assemblies. It also helps to cut down on noise, vibration and other harshness characteristics. The global automotive adhesive market is expected to expand at a CAGR of 5.4%, leading to global revenue of USD 5.45 billion by 2023.
Adhesive bonding is favoured when joining composites, plastics, and when dissimilar materials need to be joined. The overall cost associated with adhesive bonding is often less due to the simplicity of dispensing equipment relative to welding and riveting. Adhesives generally create a larger bonded area than other joining methods, which serves to reduce stress concentrations and create stiffer, stronger, and more fatigue resistant joints.
The automotive adhesive market is segmented based on type of resin (polyurethane, epoxy, acrylic, silicone, silyl modified polymer, polyamide and others), technology (hot melt, water based, solvent based, pressure sensitive), vehicle (passenger vehicle, light commercial vehicle, heavy commercial vehicle) and applications (white body, power train, paint shop). Asia-Pacific is the fastest growing region for the automotive adhesives industry due to growing demand in South Korea, Japan, Malaysia, Vietnam, China, Australia and India.
The growth of the automotive adhesives market is driven by strong vehicle sales, technological advancements in manufacturing of automobiles, adoption of smart cars, rise in demand for sports utility vehicle and crossover utility vehicles. More stringent regulations concerning carbon dioxide emissions drives demand for light weighting of vehicles, Improvement in fuel efficiency of automobiles and providing enhanced performance are key driving factors behind the advancement of adhesives in the automotive industry. Water based adhesives are gaining a distinction in the adhesives market for being environment friendly. Also, silicone based adhesives are being developed because of their diverse characteristics in applications.
The changing technology of automotive adhesives means manufacturers must keep up with the trends in the market. It not only gets affected with the change in trends of adhesives but also market of automotive industry.
The key players operating in this market are Sika AG (Switzerland), The Dow Chemical Company (U.S.), Bayer (Germany), Henkel (Germany), BASF (Germany), 3M Company (U.S.), Ashland Specialty Chemical Company (U.S.), H.B. Fuller Company(U.S.), Hindustan Adhesives Limited (India), ExxonMobil Chemical Company (U.S) , Dynea International Oy (Finland) , Forbo Adhesives Switzerland (Switzerland), Hexion Specialty Chemicals (U.S) and Covalence Adhesives (U.S.), etc.
Adhesive bonding is favored when joining composites, plastics, and when dissimilar materials need to be joined. The overall cost associated with adhesive bonding is often less due to the simplicity of dispensing equipment relative to welding and riveting. Adhesives generally create a larger bonded area than other joining methods, which serves to reduce stress concentrations and create stiffer, stronger, and more fatigue resistant joints.
Adhesives can also create aesthetically pleasing bond lines that are invisible to the consumer, which can create new styling and design options to differentiate manufacturers. The primary downside of adhesive is the time and/or temperature required for them to build strength, which can make it difficult to achieve short cycle times required for high volume production.
The human element enters the adhesive-bonding process probably more than in any other fabrication technique. An extremely high
percentage of defects can be traced to poor workmanship or lack of understanding regarding adhesion. This generally appears first in the
surface-preparation steps, but may also arise in any of the other steps necessary to achieve a bonded assembly. This problem can be largely
overcome by proper motivation and education. All employees from design engineer to laborer to quality-control inspector should be familiar
with adhesive bonding technology and be aware of the circumstances that can lead to poor joints.
Automotive Adhesives Market Size & Forecasts, By Technology
Automotive Adhesives Market Size & Forecasts By Chemistry
Automotive Adhesives Market Size & Forecasts Size by Function
Automotive Adhesives Market Size & Forecasts Size By Vehicle Component
Automotive Adhesives Market Size & Forecasts Size By Vehicle Type
Automotive Adhesives Market Size & Forecasts Size By Channel
Automotive Adhesives Market Size & Forecasts Size by Company
*as per the information availability
Table of Contents
A detailed comprehensive approach has been used while estimating the market. The market research estimation is preceded by market sizing and forecasting. The research starts with the collection of data i.e. secondary research (free databases, paid databases, company websites, trade data, production data, and journals, )and primary (expert interviews). A lot of primary interviews have been conducted with key vendors and leading players in the market. Spanning the entire value chain of an industry, the information has been collected right from the raw material supplier to the end users.
The markets have been analyzed demand side and supply side in order to generate the market data and forecast. The reports are delivered by expert analysts and market researchers that help clients in understanding the complete intricacies and nuances of demand side and supply markets. Various secondary sources, databases, directories such as Factiva, Hoovers, Bloomberg Businessweek, and OneSource are being used to analyze the market. Through secondary research, crucial information such major types, application, end-users, key companies, production, consumption, export, import, major developments, merger, acquisitions, cost, pricing information, new product development, value chain, supply chain, revenues, market share analysis, growth rates, key regions, drivers, restraints, opportunities, future prospects.
Expert interviews are being conducted with the primary respondents i.e. key market players, C-level, D-level executives of the key companies, subject matter experts (SMEs) to acquire and validate crucial quantitative and qualitative information, and future market prospects.
Research Approach
The top down and bottom up approaches, market modeling according to the topic, are some of the approaches undertaken. Once the data is collected, the findings are verified by in-house leading domain experts.
Supply side market is estimated by considering various factors such as capacity, cost margin, profit margin, disruptive technologies, policies, competition and government regulation. Demand side market is analyzed by considering various customer expectation, end use trends, price, regional demands and trends, macro-economic factors and micro economic factors.
Key Data from Secondary Sources
Key Data From Primary Sources
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