Automotive Adhesives Market Share would reach $ 53.45 billion in 2023

Adhesives are a lightweight material for bonding composite materials and lightweight materials. The use of adhesives in the automotive industry allows designers to try more 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, adhesives can be fixed together with different materials, such as aluminum and other metals, plastics and composite materials. If other means are used, it may not be possible to securely secure or require special protection to place the galvanic corrosion effect. Ningbo Locke Glue Industry Co., Ltd. produces anaerobic adhesives, vacuum impregnation sealant and pre applied adhesives, which are widely used in automotive industry.

anaerobic adhesive

The current global automotive adhesive market is experiencing significant growth, mainly due to the market demand for light, low-carbon vehicles increased. And aluminum alloy in the automotive manufacturing applications are also growing to reduce the weight of the car, which also helps to increase the application of automotive adhesives. At the same time, developing economies are emerging with the trend of making smart cars using plastics and composites, where fixed adhesives are also a factor in promoting market growth. High growth rates and demand growth in the end market also contributed to the expansion of the adhesive market.

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

In 2016, polyurethane resin adhesives accounted for one-third of the total market consumption. And this kind of adhesive in Brazil, China, Japan and other countries demand is also very strong. Mainly due to its superior performance, such as bonding different materials, UV and thermal stability, fast drying, superior chemical resistance, high degree of fiber transparency and so on. This adhesive is also used in the maintenance and repair of automobiles. In short, in the need for more efficient and low processing costs can be used in the work.

Key information in the automotive industry adhesive market:

• The epoxy resin market is expected to grow by 5.4% in the analysis cycle.

• Asia-Pacific region will become the world’s largest market in 2023, with a compound annual growth rate of 5.6%.

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

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

• The Italian market is expected to grow at a compound annual growth rate of 5.9% between 2017 and 2023.

In 2016, the Asia-Pacific market accounted for nearly half of the global automotive adhesive market, which is expected to continue in the future due to the region’s fast-growing auto industry, particularly China, India, Japan and other developing countries.

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Post time: Aug-04-2017
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