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