Epoxy Adhesives For Automotive Market to Reach US$2.3 billion by 2027 - IndustryARC

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Epoxy Adhesives For Automotive Market size is forecast to reach US$2.3 billion by 2027, after growing at a CAGR of 5.8% during 2022-2027.

HYDERABAD, TELANGANA, INDIA, January 20, 2023 /EINPresswire.com/ -- Epoxy Adhesives For Automotive Market size is forecast to reach US$2.3 billion by 2027, after growing at a CAGR of 5.8% during 2022-2027. Epoxy adhesive is a synthetic mixture of a resin or epoxy polymer and a hardener used to attach or join a variety of components in the automotive sector. They help to set the components strong, and durable and help to withstand extreme stress and environmental conditions. Automotive adhesives include different types such as acrylic, polyurethane, and cyanoacrylate among others. The growth in lightweight vehicles is one of the major factors driving the market growth for epoxy adhesives. The growing incorporation of lightweight materials in the automotive and transportation industry is also supporting the market growth during the forecast period. Adhesives help to a reduction in the overall weight of the final product, which has become a crucial factor in the automotive industry in recent years.

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Key takeaways:

This IndustryARC report on the Epoxy Adhesives For Automotive market highlights the following areas -

1. The Asia Pacific dominated the epoxy adhesives for the automotive market in the year 2021. One of the key drivers driving the market is the growing production of passenger and light vehicles in the region.

2. The one-component segment is expected to grow at a high CARG of 6.6% during the forecast period.

3. However, fluctuating oil prices along with the availability of other Adhesives for the Automotive industry are likely to hamper the market growth during the forecast period.

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Segmental Analysis:

1. Epoxy Adhesives For Automotive Market Segment Analysis – By Type : The two-component segment held the largest share with 42% in the Epoxy adhesives for the automotive market in 2021 and is anticipated to grow at a significant CAGR during the forecast period 2022-2027. Two-component is widely preferred for structural adhesives due to its high strength property. They offer various advantages such as vibration & shock resistance, fast curing at ambient temperatures, long-term durability, strong adhesion to different substrates, and dimensional stability among others. These are some of the major properties driving the demand for a two-component type segment.

2. Epoxy Adhesives For Automotive Market Segment Analysis - By Engine Type : The ICE engine type segment held the largest share with 92% in the epoxy adhesives for the automotive market in 2021 and is anticipated to grow at a significant CAGR during the forecast period 2022-2027. Internal combustion engines (ICE) are the most common form of heat engines, as they are used in vehicles, boats, ships, airplanes, and trains. They are named as such because the fuel is ignited in order to do work inside the engine. Epoxy adhesives are used in different applications during car manufacturing they are used in chassis, glassworks, body in white among others, In the automotive industry adhesives are used for joining seats, spoilers tailgates, and side skirts, bumpers, headlights, and dashboards, among others.

3. Epoxy Adhesives For Automotive Market Segment Analysis – By Geography : The Asia Pacific region dominated the Epoxy Adhesives For Automotive Market in terms of revenue with a share of 48% in 2021 and is projected to dominate the market during the forecast period (2022-2027). The growing production of passenger vehicles in developing nations such as India and China is supporting the market growth during the forecast period. According to the International Organization of Motor Vehicle Manufacturers (OICA), the total automobile production in China reached 2,60,82,220 units in 2021, an increase from 2,52,25,242 units in 2020, and 2,57,20,665 units in 2019 respectively.

Competitive landscape:

The top 5 players in the Epoxy Adhesives For Automotive industry are:

1. Henkel AG
2. Sika AG
3. 3M Company
4. H.B. Fuller
5. DuPont

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Related Reports:

A. Industrial Adhesives Market
https://www.industryarc.com/Report/16490/industrial-adhesives-market.html

B. Epoxy Adhesives Market
https://www.industryarc.com/Report/15529/epoxy-adhesives-market.html

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