Reports and Data estimates the global Structural Adhesives for Vehicle Conversions Market competitive landscape is highly fragmented with numerous players operating on a global and regional scale. The key companies in the market are engaged in mergers and acquisitions, joint ventures, collaborations, and product launches to gain a robust revenue growth over the forecast period. The report considers 2020-2021 as historic years, 2020 as the base year, and 2022-2027 as the forecast period. The report offers CAGR and market size for the global Structural Adhesives for Vehicle Conversions Market during the forecast period.
The report also offers key insights about the top companies operating in the market and their market share and global position along with product portfolio and advancements. The top companies in the market include Henkel, H.B. Fuller, Sika AG, Dow, Arkema Group, Others
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Automotive Structural Adhesives market: Dynamics
The Global Automotive Structural Adhesives Market was valued at USD 4.8 billion in 2018 and is estimated to progress at a CAGR of 4.4% from 2019 to 2025.
Government initiatives to increase the production of lightweight vehicles are a major driver for market growth.
An increase in harmful emissions has led to strict regulations to reduce environmental pollution. The European Commission declared new carbon dioxide emission standards, which stated that CO2 emissions levels from the new cars and vans would be reduced by 37.5% and 31.0% by 2030, respectively, as compared to 2021.
Lightweight vehicles have low carbon dioxide emissions and are also fuel-efficient. The use of modern adhesives can decrease the weight of an automobile by nearly 15%. The increasing production of lightweight vehicles is expected to drive the consumption of adhesives over the forecast period.
The challenge that persists is that even though adhesives help the manufacturing of lightweight vehicles, they also contribute to the VOC emissions. Several regulatory bodies such as the United States Environmental Protection Agency (EPA), California Air Resources Board (CARB), and Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH) have set guidelines & standards pertaining to their use to reduce environmental-related risks.
Automotive Structural Adhesives Market: Regional Outlook
North America and Europe are projected to grow at a slower rate as compared to other regions. The production of cars in North America has dropped consecutively in the past four years (2015-2018).
Europe’s overall vehicle production dropped by 0.3% in 2017 and 1.4% in 2018. This played a significant role in affecting the use of adhesives in these regions.
On the other hand, the increasing emphasis on electric and lightweight vehicles is expected to boost the consumption of adhesives over the coming years.
The Asia Pacific accounted for the largest volume share of 53% in 2018. The key force behind it was surging opportunities in developing nations in terms of technology innovation and manufacturing. It has propelled manufacturers to expand their capacities and amplify their market reach.
In November 2018, DuPont invested over USD 80 million for developing compounded high-end engineering plastics and adhesives manufacturing plants in China, which are expected to be operational by 2020.
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By Type (Revenue, USD Million; Volume in Tons, 2017–2027)
- Water-base
- Solvent-based
- Hot melt
- Reactive
- Others
By Application Type (Revenue, USD Million; Volume in Tons, 2017–2027)
- Bonding
- NVH
- Sealing/Protection
By Region (Revenue, USD Million; Volume in Tons, 2017–2027)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
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Key Questions answered by the Report:
- What is the expected year-on-year growth of the Structural Adhesives for Vehicle Conversions Market during the forecast period?
- What key trends are expected influence revenue growth of the market going ahead?
- Which region is expected to account for largest revenue share over the forecast period?
- Which key companies are profiled in the report?
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