Global Automotive Adhesive and Sealants Market (Size of USD 9.0 Billion in 2017) to Witness 6.1% CAGR During 2018–2024

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Global Automotive Adhesive and Sealants Market 
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Industry Overview

• The global automotive adhesive sealants market
  is expected to reach USD 13.6 billion by 2024,
  owing to increasing concerns about greenhouse gas
  emissions and fuel consumption that is projected
  to bolster the demand of adhesive and sealants in
  passenger as well as commercial vehicles. It is
  considered that approximately 5 to 8 of fuel is
  saved when the weight of the automobile is
  reduced. Additionally, the decreased weight of
  the automobile assists in managing the CO2
  emission from the vehicles during its complete
  life span. Moreover, automobile manufacturers are
  concentrating majorly upon automotive
  constituents that are developed from
  thermoplastic elastomers to upgrade automobiles
  performance and manufacture vehicles that are
  lightweight.
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market segmentation

• On the basis of type, global automotive adhesive
  and sealants market are segmented into epoxy,
  polyurethanes, acrylics, PVC, rubber, hot melts
  and silicones. Among all the segments, the global
  epoxy segment have been contributing largest
  revenue of USD 2.2 billion in 2017, registering a
  CAGR of 6.0 during 2014-2017.

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Geographic Overview

• Geographically, Asia Pacific accounted for
  largest revenue in the global automotive adhesive
  sealants market in 2017 and is further expected
  to become largest revenue holder in this market
  by 2024. The increasing growth of this market is
  accounted towards extensive manufacturing
  capacity for passenger vehicles and LCV segment
  in this region that is projected to hold
  approximately 50 of the global manufacturing
  process.  Additionally, accelerating demand for
  LCV and passenger cars in this region is
  exaggerating the demand for automotive adhesive
  and sealants in Asia-Pacific.

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Competition among key players

• The key companies operating in the global
  automotive adhesive sealants market include
  Henkel AG Co. KGaA, 3M Company, Dow Chemical
  Co., Kommerling, PPG Industries, Inc., Permatex,
  Krayden, Inc., and Sika AG.

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