Lucintel identifies and prioritizes opportunities for adhesives in global automotive industry by product type, application type, and region

According to a new market report published by Lucintel, the future of adhesives in the global automotive industry looks promising with increasing penetration of lightweight materials and rising vehicle production. Adhesives in the global automotive industry are forecast to grow at a CAGR of 9% from 2015 to 2020. The major growth drivers for this market are increasing use of lightweight materials in vehicle manufacturing and replacement of mechanical fasteners, such as screws, nuts, bolts, rivets, and welds, with adhesives to make vehicles lighter and to meet higher fuel economy requirements. Bonding of different lightweight materials without compromising the structural disruption of automotive components is an additional factor contributing to accelerated growth.
In this market, epoxy, polyurethane, acrylic, and other adhesives are used for automotive applications. Lucintel predicts that the demand for polyurethane based adhesives is expected to remain the largest segment due to its advantage of fast curing as compared to other adhesives. On the basis of its comprehensive research, Lucintel forecasts that the epoxy based adhesives is expected to depict highest growth during the forecast period supported by growing demand for replacing mechanical fasteners in bonding of lightweight materials in structural components.
Within the adhesives in automotive industry, the passenger car segment is expected to remain the largest segment by value and volume consumption. The development of bonding technologies for applications in the automotive industry is expected to spur growth for this segment over the forecast period.
Asia Pacific is expected to remain the largest market due to increase in production of cars and light commercial vehicles in China and India. Europe and Row are expected to witness significant growth over the forecast period due to increasing penetration of adhesives and rise in automotive production.
For market expansion, the report suggests innovation and new product development, where the unique characteristics of adhesives can be capitalized. The report further suggests the development of partnerships with customers to create win-win situations and the development of low-cost solutions for end users.

Emerging trends, which have a direct impact on the dynamics of the industry include increasing use of composites and lightweight materials in automotive, new silicone-based electrically conductive adhesives in automotive sensor applications, and increasing applications of two component polyurethane adhesives. Henkel AG & Co KGaA, 3M Co., The Dow Chemical Company, Sika AG, and H.B Fuller are among the major suppliers of automotive adhesives. There are some companies that are opting for M&A as a strategic initiative for driving growth.

Lucintel, a leading global strategic consulting and market research firm, has analyzed opportunities for adhesives in the global automotive industry by vehicle type, product type, and region, and has come up with a comprehensive research report, “Opportunities for Adhesives in Global Automotive Industry 2015-2020: Trend, Profit, and Forecast Analysis.” The Lucintel report serves as a spring board for the growth strategy as it provides a comprehensive data and analysis on trends, key drivers and directions. The study includes forecast for adhesives in global automotive industry through 2020, segmented by vehicle, product, application types, and region as follows:

By vehicle type [Volume (Million Pounds) and $ billion shipment from 2009 to 2020]:
• Passenger cars
• Light commercial vehicles

By product type [Volume (Million Pounds) and $ Billion shipment from 2009 to 2020]:
• Epoxy adhesives
• Polyurethane adhesives
• Acrylic adhesives
• Other adhesives (hot melt, silicone, rubber, and phenolic adhesives)

By region [Volume (Million Pounds) and $ Billion shipment from 2009 to 2020]:
• North America
• Europe
• Asia Pacific
• Rest of World
By application type [Volume (Million Pounds) and $ Billion shipment for 2014 and 2020]:
• Structural components of automotive
• Non-structural components of automotive

This 140-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com. Lucintel offerings include Chemical Market Research Reports, Chemical Industry Analysis Report, Opportunity Screening and Analysis, Strategic Growth Consulting, Capital Investment Analysis.

Lucintel, the premier global management consulting and market research firm, creates winning strategy for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M & A and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

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This release was published on openPR.