Global Electric Vehicle Adhesives Market is Predicted to Reach USD 162.15 Mn by 2027

The latest market report published by Credence Research “Global Electric Vehicle Adhesives Market: Growth, Future Prospects, and Competitive Analysis, 2015 – 2027”. The global market has acquired a market size of around USD 40.12 million in 2020 and expected to reach a healthy CAGR of over 26.21% during the forecast period from 2021 to 2027 to reach around USD 162.15 million in 2027.

Global Electric Vehicle Adhesives Market, 2020 – 2027 (USD Million)

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Due to numerous requirements by automakers, like dissimilar materials and bonding similar, replacing conventional substrates with synthetic substrates, and a growing emphasis on environmental issues, the use of EV adhesives is increasing. The EV adhesives also discuss design and engineering concerns, as they are respected for their ability to lightweight, resist vibration, and stress distribution over a large region.

Key Trends in Global Market

Electric Cars have high growth in EV adhesive market

The adoption of important policy reforms by the leading countries in the field of electric mobility fueled the growth of battery electric vehicles. These countries have enacted tighter emission requirements, as well as incentives for battery electric vehicles, and are encouraging investments in the electric vehicle supply chain to push electric vehicle and ICE vehicle prices closer to parity. The same factors would accelerate the global adoption of battery electric vehicles. Adhesive technology is used in a variety of applications in electric vehicles, and it plays a key role in making them lightweight.

Striving on Reduction of CO2 emission in Environment

The automotive industry is constantly working to develop lightweight, fuel-efficient vehicles that can dramatically reduce CO2 emissions. CO2 pollution standards are being applied all over the world. Electric vehicle adhesives are crucial in lowering CO2 emissions.  The structural strength of vehicles is provided by these adhesives. They have the ability to adhere to a variety of surfaces.

Global Market by Resin Type Insights

Polyurethane, Epoxy, Silicone, and Acrylic are some of the Resin Type of this market. Polyurethane dominated the market as these adhesives are primarily used in structural bonding and are used in case the application needs vibration inhibitions owing to their thermal differences between substrates. Composites, coated steel, thermoplastics, and coated or uncoated aluminum are among the substrates on which it is applied.

Silicone Segment to Dominate the global market

Global Market by Resin Type, 2020

Global Market by Application Insights

Global market is segmented based on Application as Exterior, Interior, and Powertrain. Due to their advantages over other forms of adhesives, electric vehicle adhesives are often used in the interiors, exteriors, and engine compartments of aircraft. These adhesives can withstand higher weight loads and increase stress and strain distribution through joints. Since there are no rivets, holes or fastening features to weaken the structure, electric vehicle adhesives often protect the strength and integrity of the components. During the forecast era, these factors are expected to fuel demand for electric vehicle adhesives around the world.

Global Market Share by Application, 2020

Global Market by Regional Insights

Since China is the world’s largest manufacturer of electric vehicles, Asia Pacific had the largest market share in 2020. The market is expected to expand due to increased production of electric vehicles and batteries in the area. With an increasing emphasis on electronic vehicle production and promotion, Europe is one of the market’s most important regions, and adhesive demand is expected to dominate in the coming years.

Global Market Competitive Landscape

Most prominent players in the global market include Henkel AG & Company, DuPont de Nemours, Inc., Avery Dennison Corporation, Arkema S.A., Permabond LLC, Ashland Inc., KGaA , H.B. Fuller, LORD Corporation, and PPG Industries, Inc. The report covers very detailed profiles of these key players.

Global Electric Vehicle Adhesives Market, Company Distribution Network, 2020

Market Segmentation

· Global Electric Vehicle Adhesives Market

Global Electric Vehicle Adhesives Market by Region, 2015 – 2027

· North America

· Europe

· Asia Pacific

· Latin America

· Middle East and Africa

Global Electric Vehicle Adhesives Market: Key Players

· Henkel AG & Company

· KGaA

· H.B. Fuller

· DuPont de Nemours, Inc.

· Arkema S.A.

· Permabond LLC

· Ashland Inc.

· LORD Corporation

· PPG Industries, Inc.

. Avery Dennison Corporation