The global automotive adhesive and sealant market was valued at $4,879.3 million in 2014, and it is expected to grow with a CAGR of 8.8% during 2015 - 2020. The factors driving the growth of the global market include increasing focus on the usage of lightweight materials, vehicles safety and regulations, and fuel economy regulations. The vehicles safety standards and regulations are becoming stringent across the globe. The increasing awareness of consumers regarding safety aspects of vehicles are resulting in increasing usage of various types of safety equipment. EURO NCAP is one of the organizations composed of seven governments, which provides an independent assessment of the car safety level for the cars sold in Europe.
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Geographically, the Asia-Pacific market held the largest share in the global automotive adhesive & sealant market in 2014. Asia-Pacific is anticipated to be the fastest growing market for automotive industry. The production volume for passenger car and LCV segment in Asia-Pacific accounted for more than 50% of the global production. The increasing production in Asia-Pacific is complimented by intensifying demand for passenger cars and LCV in the region. The increasing economy and improving standards of living in countries, such as China and India, are the factors resulting in increased sale volumes.
The information and data in the publication “Global Automotive Adhesive & Sealants Market Size, Share, Development, Growth and Demand Forecast to 2020”, represents the research and analysis of data from various primary and secondary sources. A top down approach has been used to calculate the market size in terms of volume and value. P&S Market Research analysts and consultants interacted with leading companies of the concerned domain to substantiate every value of data presented in this report. The company bases its primary research on discussions with prominent professionals and analysts in the industry, which is followed by informed and detailed, online and offline research.
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PVC, epoxy, and polyurethanes are the three major types of automotive adhesives and sealants used within the automotive industry, in terms of volume. The usage of silicones in the automotive market is gradually increasing with the invention of silane based adhesives and sealants by companies, such as Henkel (Germany).
In 2014, the hot melts type segment is expected to achieve the fastest growth (10.5% CAGR) during 2015 – 2020 in the global automotive adhesive & sealant market in terms of value. Assembly Application Segment is expected to achieve the fastest growth (9.8% CAGR) during 2015 – 2020, in the global automotive adhesive & sealant market in terms of value.
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