Automotive Adhesives Market Size

Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The automobile glues market is expected to be valued at around $ 4.89 billion in 2023, and is anticipated to reach $ 8.42 billion by 2030, growing at a CAGR of 5.9 per cent over the forecast period. This growth is a result of a growing demand for advanced glues in the automobile industry, owing to the growing demand for lightweight materials and improved vehicle performance. Glues that can be used to bond different materials, such as metals, plastics and composites, are increasingly used in the automobile industry. Also driving the market growth are the technological advancements in the formulation of glues and the growing demand for hybrid and electric vehicles, which require specialized bonding solutions. The development of high-performance, heat-resistant and eco-friendly glues will also boost the market growth. The leading players in the automobile glues market, such as Henkel AG, 3M Company and Sika AG, are launching new products and entering into strategic collaborations to enhance their market presence and meet the evolving demands of the automobile industry. Recent collaborations for developing sustainable adhesive solutions, for instance, indicate the industry’s commitment to innovation and the environment.

Regional Market Size

Regional Deep Dive

The market for adhesives in the field of automobiles is growing at a fast pace, owing to the increased production of automobiles, the improvement in the performance of the adhesives, the growing importance of the light weight of the materials in the field of fuel economy, and the increasing demand for the products. Each region has its own characteristic features, which are influenced by local manufacturing practices, regulations, and consumer preferences. The market is characterized by the demand for high-performance adhesives that can withstand extreme conditions, and by the growing demand for sustainable and eco-friendly solutions in the field of automobiles.

Europe

• Europe is at the forefront of adopting sustainable adhesive solutions, with companies like Henkel and Sika leading the way in developing eco-friendly products that comply with stringent EU regulations on chemical safety and environmental impact.
• The European automotive sector is increasingly focusing on electric and hybrid vehicles, which has led to innovations in adhesive formulations that enhance battery pack assembly and overall vehicle performance.

Asia Pacific

• The Asia-Pacific region, particularly countries like China and India, is experiencing rapid growth in automotive production, leading to a heightened demand for adhesives that can support high-volume manufacturing processes.
• Local manufacturers are increasingly investing in R&D to develop region-specific adhesive solutions, with companies like H.B. Fuller and 3M expanding their product lines to cater to the unique needs of the Asian automotive market.

Latin America

• Latin America is seeing a gradual recovery in automotive production post-pandemic, with countries like Brazil and Mexico becoming key players in the automotive adhesives market as they ramp up production to meet both local and export demands.
• The region is also witnessing a shift towards more sustainable adhesive solutions, driven by consumer preferences and regulatory pressures, prompting companies to innovate in bio-based and low-VOC adhesive formulations.

North America

• The North American adhesives market is experiencing an increasing demand for advanced bonding solutions, especially for electric vehicles (EVs). As a result, companies like General Motors and Tesla are investing in new models that require the latest in bonding technology.
• Regulatory changes aimed at reducing vehicle emissions are prompting manufacturers to adopt lightweight materials, which in turn increases the need for high-performance adhesives that can bond these materials effectively.

Middle East And Africa

• In the Middle East and Africa, the automotive adhesives market is influenced by the growing automotive assembly plants in countries like South Africa, which are attracting global players and increasing the demand for high-quality adhesive solutions.
• Government initiatives aimed at boosting local manufacturing capabilities are encouraging investments in adhesive technologies, with companies like BASF and Dow Chemical establishing partnerships with local automotive manufacturers.

Did You Know?

“Did you know that automotive adhesives can reduce vehicle weight by up to 20% compared to traditional fastening methods, significantly improving fuel efficiency?” — Automotive Adhesives Market Research Report, 2023

Segmental Market Size

The adhesives market plays a key role in the performance, safety, and aesthetics of cars and is currently growing at a steady pace. The growing need for lightweight components to improve fuel economy and the growing popularity of electric vehicles are the main drivers of this market. In addition, stricter regulations on emissions are driving the manufacturers to adopt more efficient adhesives. The adhesives used in the automobile industry are now in the process of being adopted, and 3M and Henkel are leading the way in developing new and efficient adhesives. North America and Europe are at the forefront of this trend, especially in the production of electric and hybrid vehicles. The main applications are structural bonding, sealing, and assembly in the manufacture of automobiles, with specific applications in the bonding of composite materials and the installation of glass. The growth of this market is mainly due to the trend towards electric vehicles and the growing need for lightweight components. The development of polyurethane and epoxy adhesives is shaping the future of this market.

Future Outlook

The global Automotive Adhesives Market is expected to grow at a CAGR of 5.9 % from 2023 to 2029. This growth is mainly due to the increased demand for lightweight materials in the manufacture of vehicles, as a result of the reduction of fuel consumption and emissions. The use of structural adhesives and sealants is expected to grow significantly in the coming years, as manufacturers adopt these solutions to meet regulatory standards and consumer demand for sustainable and high-performance products. The development of high-performance and durable structural and assembly adhesives, which can withstand extreme temperatures and other adverse conditions, will play a key role in shaping the market landscape. The increasing use of electric and hybrid vehicles and the introduction of driverless cars is also expected to open up new opportunities for the development of new bonding solutions. As the automotive industry evolves, the demand for new and improved bonding solutions is likely to grow, driving the growth of the global Automotive Adhesives Market.