September 15, 2022 08:27 ET | Source: Fortune Business Insights Fortune Business Insights
Pune, India, Sept. 15, 2022 (GLOBE NEWSWIRE) -- The global automotive adhesives and sealants market size is expected to showcase substantial growth owing to the increasing demand for fuel-efficient vehicles and the rising adoption of electric vehicles that is likely to surge the demand for innovative and superior automotive adhesives and sealants in the forthcoming years.
This information is published by Fortune Business Insights, in its latest report, titled, “Automotive Adhesives and Sealants Market Size, Share, Industry Analysis, and Regional Forecast, 2022-2029.”
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Automotive adhesives and sealants are extensively adopted in the automotive industry. They are used in sensors, as well as in the vehicle chassis. Owing to the growing demand for lightweight composite materials in vehicles, they are gaining popularity across the globe. Automotive manufacturers are bonding materials using adhesive and sealants which is leading to lower production costs and fast processing. Additionally, they are resistant to corrosion, fatigue, and contaminants that aid in improving the vehicle’s life cycle.
List of the Companies Profiled in the Global Market for Automotive Adhesives and Sealants:
What does the Report Include?
The global market for automotive adhesives and sealants report includes a detailed assessment of various growth drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides comprehensive research into the regional developments of the market that would affect its growth during the forecast period.
It includes information sourced from the advice of expert professionals from the industry by our research analysts using several methodologies. The competitive landscape offers further detailed insights into strategies such as product launches, partnerships, mergers and acquisitions, and collaborations adopted by the companies to maintain the market stronghold between 2022 and 2029.
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CHASM Partners Henkel Adhesive to Expand its Product Portfolio
The global automotive adhesives and sealants market is consolidated by the presence of few major companies that are striving to expand their product portfolios by adopting strategies such as collaboration, partnership, and merger and acquisition. For instance, in August 2020, CHASM Advanced Materials announced its partnership with Henkel Adhesive Technologies.
The partnership is aimed at developing innovative adhesives and sealants that can be adopted for several industrial purposes. Such initiatives by the companies are expected to contribute to the growth of the global market for automotive adhesives and sealants in the forthcoming years.
Increasing Demand for Fuel-Efficient Vehicles to Promote Growth
The depleting fossil fuels and the growing demand for fuel-efficient vehicles are expected to propel the demand for superior automotive adhesives and sealants. Owing to the tremendous level of pollution due to the combustion of fossil fuels, automotive manufacturers are focusing on developing energy and fuel-efficient vehicles. Additionally, several government initiatives to promote clean energy is further driving the adoption of electric vehicles which will bode well for the growth of the global automotive adhesives and sealants market during the forecast period.
Growing Automotive Sector in Asia-Pacific to Bolster Growth
Among all the regions, Asia-Pacific is expected to remain dominant and hold the largest global automotive adhesives and sealants market share in terms of revenue during the forecast period. This dominance is attributable to the growing automotive sector in countries such as China and India.
North America is expected to showcase a significant growth owing to the presence of established manufacturers of heavy and technical automotive that are driving the demand for advanced automotive adhesives and sealants between 2019 and 2026.
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