Global Automotive Adhesive Market projected to reach $9.67 billion by 2033 with strong growth in segments
From GlobeNewswire: 2024-04-04 14:00:00
The Global Automotive Adhesive Market is projected to grow from $6.10 billion in 2023 to $9.67 billion by 2033, with a CAGR of 4.72%. These adhesives are crucial in automotive manufacturing, contributing to safer, more efficient vehicles. Developing countries and the need for lighter vehicles are driving market growth, despite potential supply chain uncertainties. The structural segment is expected to see the fastest growth, fueled by the rising demand for auto adhesives in light materials and pollution requirements. The hot-melt segment will also grow rapidly due to their long shelf life and versatility in automotive applications. The body-in-white segment is anticipated to grow quickly, with adhesives surpassing traditional welding methods in terms of durability and weight reduction. Asia Pacific is set to dominate the market, driven by increased demand as the automotive sector expands. North America is expected to witness rapid growth due to rising demand for fuel-efficient vehicles and strict safety regulations. Major vendors include H.B. Fuller, 3M, DuPont, and others, with sustainability becoming a key focus. In January 2024, H.B. Fuller’s German factories received ISCC PLUS certification, highlighting their commitment to sustainability. The market is segmented by adhesive type, technology, application, and region, offering opportunities for growth and development in the industry.
The Global Automotive Adhesive Market is projected to reach $9.67 billion by 2033, with the structural segment expected to grow rapidly. The hot-melt segment is also forecasted to see significant growth due to their versatility in automotive applications. The body-in-white segment is anticipated to grow quickly, with Asia Pacific leading the market expansion. North America is set to experience rapid growth driven by increasing demand for fuel-efficient vehicles and strict safety regulations. Major vendors include H.B. Fuller, 3M, DuPont, and others, with sustainability becoming a key focus. In January 2024, H.B. Fuller’s German factories received ISCC PLUS certification, showcasing their commitment to sustainability. The market is segmented by adhesive type, technology, application, and region, offering ample opportunities for growth and development in the industry.
Read more at GlobeNewswire: Global Automotive Adhesive Market Size To Worth USD 9.67