Electric Vehicle Adhesives Market By Resin Type (Epoxy, Polyurethane, Silicone, Acrylic) By Application (Exterior, Interior, Powertrain): Growth, Future Prospects, and Competitive Analysis, 2015 - 2027

Electric Vehicle Adhesives Market Insights 

During the forecast period 2021-2027, the electric vehicle adhesives market is expected to grow at a CAGR of 36.1%. The market is estimated to be worth US$ 410.2 million in 2021 and will generate US$ 2,605.2 million by 2027. Adhesives and sealants have played a significant role in the development of hybrid and battery electric vehicle battery cells, modules, packs, and motors, and will continue to do so. Adhesives are also used in the paint, bodywork, and car assembly of electric vehicles. OEMs make significant efforts to reduce the weight of body, interior, and engine components because reducing the weight of EV components helps to extend their range. As a result, non-traditional or inappropriate materials, such as lightweight composite tailgates for SUVs or hatchbacks, are frequently required in EVs.

Global Electric Vehicle Adhesives Market

Heat management in electric vehicles is in high demand.

Heat management is a major concern for electric car manufacturers and component suppliers. Thermally conductive adhesives and potting compounds protect electronics in demanding applications by providing strong electrical insulation and heat transmission, and many of the compounds are flame retardant. These components are used in batteries, transformers, electric motors, coils, sensors, and other applications where heat must be dispersed away from the electronics.

In the market, the electric car segment holds a strong position.

The market is divided into four segments based on vehicle type: electric car, electric bus, electric bike, and electric truck. The electric car category accounts for the market's dominant position and is expected to maintain its dominance throughout the forecast period. Growing environmental concerns due to ICE vehicles have fueled market demand for electric vehicles. During the forecast period, the EV market would be driven by the implementation of favourable EV regulations and technological advances in the value chain. As a result, the rise of electric vehicles is expected to drive the growth of electric vehicle adhesives over the forecasted period.

Asia Pacific will be the largest market for electric vehicles adhesives.

Based on region, the market is divided into North America, Europe, Asia Pacific, the Middle East, Africa, and Latin America. The Asia Pacific electric vehicle adhesives market dominated the market in 2020 and is expected to maintain its dominance during the forecast period, followed by Europe and North America. China, Japan, South Korea, India, and Australia are among the major countries driving the market in this region. The availability of low-cost labour in Asia Pacific countries, particularly India and China, which can provide significant investment opportunities for corporations. Government efforts, as well as the government's planned entrepreneurship development programme, may open up new avenues for industrial and infrastructure development. All of these factors are likely to drive the APAC market.

Global Electric Vehicle Adhesives Market key Players:

3M, Ashland, Bostik S.A., Delo Industrie Klebstoffe GmbH & Co. KGaA, Dowdupont, H.B. Fuller, Henkel, Jowat Se, L&L Products, Lord Corporation, Permabond LLC., PPG Industries, Sika AG, Uniseal, Inc., Wacker Chemie AG are some of the key players operating in the global electric vehicle adhesives market. Companies in the electric car adhesives industry are pursuing alliance and acquisition as a business strategy to expand their market presence. For example: In November 2018, Henkel formed a strategic partnership with RLE International to develop innovative e-mobility concepts and lightweight breakthroughs. In February 2020, H.B Fuller acquired certain DHM assets. Adhesives, Inc. DHM, based in Calhoun, Georgia, produces hotmelt adhesives.

Frequently asked questions about global Electric Vehicle Adhesives market

The market is estimated to be worth US$ 410.2 million in 2021 and will generate US$ 2,605.2 million by 2027.

Some of the market's key growth opportunities include the upcoming expansion of battery Gigafactories and the potential for growth of autonomous electric vehicles.

The major driving drivers in the industry are growing customer desire for electric cars, supported by government incentives and supportive government regulations to decrease hazardous emissions.

The Asia Pacific region is expected to account for the majority of market share.

3M, Ashland, Bostik S.A. (An Arkema Company), Delo Industrie Klebstoffe GmbH & Co. KGaA, Dowdupont, H.B. Fuller, Henkel, Jowat Se, L&L Products, Lord Corporation, Permabond LLC., PPG Industries, Sika AG, Uniseal, Inc., Wacker Chemie AG

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Published Date:  May 2021
Category:  Advanced Materials
Report ID:   60338
Report Format:   PDF
Pages:   120
Rating:    4.4 (56)
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