Browse 262 market data Tables and 57 Figures spread through 291 Pages and in-depth TOC on Browse 262 market data Tables and 57 Figures spread through 291 Pages and in-depth TOC on "Automotive Adhesives Market by Resin Type (PU, Epoxy, Acrylic, Silicone, SMP, MMA), Application (Body In White, Paint Shop, Assembly, Powertrain), Vehicle Type (Passenger Cars, LCVS, Trucks, Buses, Aftermarkets), & Region - Global Forecast to 2026"
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Henkel is one of the leading solution providers for adhesives, sealants, and functional coatings. The company has three business segments, namely, adhesive technologies, laundry & home care, and beauty care. The company manufactures automotive adhesives under its adhesive technologies segment. Henkel is a leader in the adhesives industry. It has a strong network for distributing and manufacturing adhesives with 138 production sites to meet the changing demands of the automotive adhesives industry, worldwide. The company continuously focuses on its organic & inorganic growth.
In April 2019, the company announced the opening of its new OEM Application Center in Rocky Hill, CT. The lab expands Henkel’s capabilities to deliver innovative solutions and design customized applications, technologies, and production processes to serve customer needs better.
In May 2017, the company launched four new adhesives (LOCTITE HY 4090, LOCTITE HY 4080, LOCTITE HY 4070 and LOCTITE HY 4060 GY) in its LOCTITE’s automotive bonding range using the patented hybrid technologies. These adhesives are expected to meet the rising demands in assembly design and maintenance repair applications.
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Polyurethane resins are expected to lead the automotive adhesives market during the forecast period
Polyurethane adhesives have a high demand in the automotive adhesives market due to their excellent properties such as high elongation properties and stronger bonding. These are used in bonding windscreens, side and rear windows of passenger cars, trucks, and special vehicles. They are also used for bonding fiberglasses reinforced plastic elements, such as roof, side, and front panels. These adhesives also have a competitive advantage over silicone products as they can be easily painted, and offer a fissure-free coated surface for an extended period.
Body in white is the largest application in the automotive adhesives market.
Objective to reduce vehicle weight is to increase the use of aluminum in the body in the white stage. Due to the ability to join thinner and lighter - materials along with aluminum is boosting the use of adhesive at the body in white stage. Epoxy adhesives play a major role in joining dissimilar and default to bond substrates in the automotive body. With the increased usage of composites and plastics in the automotive body, the usage of adhesives has proportionally increased. These substrates cannot be welded or joined using nut bolts and rivets. Hence the demand for adhesives for the body in white is on the rise.
COVID-19 Impact on the Global Automotive Adhesives Market
COVID-19 has made a significant economic impact on various financial as well as industrial sectors, such as travel and tourism, manufacturing, and aviation. The worst economic recession is expected during 2020-2021, according to World Bank and IMF. With the increasing number of countries imposing and extending lockdowns, economic activities are declining, impacting the global economy.
In the recent past, the global economy became substantially more interconnected. The adverse consequences of various steps related to the containment of COVID-19 are evident from global supply chain disruptions, weaker demand for imported products and services, and an increase in the unemployment rate. Risk aversion has increased in the financial market, with all-time low interest rates and sharp declines in equity and commodity prices. Consumer and business confidence have also reduced significantly.
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