Automotive adhesives sales are expected to reach USD5.345 billion in 2023

Adhesive is a lightweight substance used to bond composite materials and lightweight materials. The use of adhesives in the automotive industry allows designers to try new and innovative design and manufacturing concepts. Adhesives are also widely used in lightweight construction, and thin-walled parts are generally fastened with adhesives. At the same time, the adhesive can hold different materials together, such as aluminum alloys and other metals, plastics, and composite materials. If other methods are used, it may not be reliably fixed or special protection is required to prevent galvanic corrosion.

The current global automotive adhesive market is experiencing significant growth, mainly due to the increased demand for light-weight, low-carbon vehicles in the market. And the application of aluminum alloys in automobile manufacturing is also increasing to reduce the weight of automobiles, which also helps to increase the application of automobile adhesives. At the same time, the trend of using plastics and composite materials to manufacture smart cars is emerging in developing economies, and sustainable adhesives used for fixing are also a factor that promotes market growth. The high economic growth rate and the increasing demand in the end market also contributed to the expansion of the adhesive market.

The demand for automotive adhesives is based on the technological advancement of the automotive industry. The current technological progress in automobile manufacturing is the main driving force for the expansion of the adhesive market.

In 2016, polyurethane resin adhesives accounted for one-third of the total market consumption. And the demand for such adhesives in Brazil, China, Japan and other countries is also very strong. Mainly due to its superior performance, such as the ability to bond different materials, UV and thermal stability, quick drying, superior chemical resistance, and high optical fiber transparency. This adhesive is also used in automobile repair and maintenance work. In short, it can be used in jobs that require higher efficiency and lower processing costs.

Key information for the automotive adhesive market:

• The epoxy resin adhesive market is expected to have an output value growth of 5.4% during the analysis period.

• The Asia-Pacific region will become the world ’s largest market by 2023, and the compound annual growth rate of output value is expected to reach 5.6%.

• The light commercial vehicle adhesive market accounted for about one-fifth of the total market in 2016.

• China accounted for nearly half of the automotive adhesive market in the entire Asia-Pacific region in 2016.

• The output value of the Italian market is expected to grow at a CAGR of 5.9% between 2017 and 2023.

In 2016, the Asia-Pacific market accounted for nearly half of the global automotive adhesive market. This trend is expected to continue in the future due to the rapidly growing automotive industry in the region, especially China, India, Japan and other developing countries.