Automotive adhesives and sealants are the substances that are used for various bonding and sealing applications in the automotive industry. These materials are chemically similar but functionally different. They help in improving driving comfort, performance, reliability, and safety of vehicles. The automotive adhesives and sealants market size in the past few years have grown at a decent rate and it is projected to maintain the growth rate for the next few years. The market growth is mainly driven by the increasing usage of lightweight materials in the vehicle manufacturing and increasing vehicle production in APAC.
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Increasing focus of automotive manufacturers on technological advancements is a major trend in the APAC automotive adhesives and sealants market. Manufacturers have started using adhesives in the automotive components manufacturing, owing to the advantages it offers in terms of flexibility during the production process. Along with that, recent technological advancements in adhesive technology has also assisted the manufacturers to produce lightweight and fuel-efficient vehicles. The focus on reducing the carbon emissions from the vehicles and enhancing the fuel economy via weight reduction has given adhesives the push as a bonding material. Hence, manufacturers are shifting from traditional manufacturing, thus using advanced technologies for component manufacturing.
A major driver identified in the APAC automotive adhesives and sealants market is the increasing production of vehicles in the region, which is expected to witness a continued growth in the coming years. Growing GDP growth and increasing consumer spending power is driving the Asian countries automotive market, including China, India, and Malaysia.
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For instance, in China, a rising middle class will drive the steady growth of the Chinese auto market, owing to the new purchases and replacement of vehicles growing rapidly. According to The Organisation Internationale des Constructeurs d’Automobiles (OICA), France, the biggest auto producing countries in Asia are China, Japan, India, and South Korea, where China captures almost 30% of the global market share in auto production. The China’s car production in 2016 was 28 million. In 2016, India encompasses 0.04% market share in global car production and has become the third-largest car producing country behind China and Japan. The growing vehicle production will eventually lead to the increasing consumption of adhesives and sealants in the automotive industry.
Some of the major players in the APAC automotive adhesives and sealants market are DowDuPont Inc., Henkel AG & Co. KGaA, PPG Industries Inc., Sika AG, 3M Company etc.
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