Global Electric Vehicles Adhesives Market, By Form (Liquid, Film and Tape, Others), Resin (Polyurethane, Epoxy, Silicone, Acrylic, Others), Application (Powertrain System, Exterior, Interior), Vehicle Type (Electric Car, Electric Bus, Electric Truck, Electric Bike), Substrate (Polymer, Composite, Metals) – Industry Trends and Forecast to 2029.
Electric Vehicles Adhesives Market Analysis and Size
The global electric vehicle adhesives market is mainly driven by the rising adoption of green, sustainable and non-hazardous adhesives. The growing use of electric vehicle adhesives to replace the traditional adhering and binding methods such as clasping, mechanical screwing and welding in the end-user industries are expected to boost the growth of the electric vehicles adhesives market. The “polyurethane” is the highest growing type segment of the market owing to robust curing, excellent bonding strength and reduced assembly time, it also provides fast-fixing across several substrates such as metal, plastics, composites and others over the forecast period, Also, increasing demand of electric vehicles adhesive bonding in various plastics, composites, and many lightweight materials in the automotive industries will boost the market during forecast period.
Data Bridge Market Research analyses that the electric vehicles adhesives market is expected to undergo a CAGR of 35.70% during the forecast period. This indicates that the market value, which was USD 72.37 million in 2021, would rocket up to USD 832.14 million by 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Electric Vehicles Adhesives Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014- 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Form (Liquid, Film and Tape, Others), Resin (Polyurethane, Epoxy, Silicone, Acrylic, Others), Application (Powertrain System, Exterior, Interior), Vehicle Type (Electric Car, Electric Bus, Electric Truck, Electric Bike), Substrate (Polymer, Composite, Metals)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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DuPont (U.S.), SOLVAY (Belgium), Dow (U.S.), Henkel AG and Co. KgaA (Germany), 3M (U.S.), Bostik (France), Sika AG (Switzerland), H.B. Fuller (U.S.), BASF SE (Germany), DAP Global Inc. (U.S.), Owens Corning (U.S.), The Chemours Company (U.S.), Paroc Group (Finland), Kingspan Group (Ireland), DAIKIN (Japan), GAF (U.S.), SOLVAY (Belgium), Saint-Gobain (France), Franklin International (U.S.), Illinois Tool Works Inc. (U.S.), AVERY DENNISON CORPORATION (U.S.) Three Bond Holdings Co., Ltd. (Japan), Dymax (U.S.), Ashland (U.S.), Shell (U.K.)
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Market Opportunities
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Market Definition
Electric vehicle adhesives are a sticking material that allows the components to stick together without interfering with their operation. It makes a strong bond between the battery sections and also allows the parts to operate smoothly. These adhesives can give better flexibility while still containing strong adhesion capabilities. It also helps in the absorption of impact without crashing into parts and reduces vibrations into parts.
Global Electric Vehicles Adhesives Market Dynamics
Drivers
- High usage of polyurethane resin
Polyurethane adhesives are made up of urethane polymers. They contain higher elasticity and elongation up to 600% before fracture. There are mainly three types of polyurethane adhesives, one-component rigid polyurethane adhesives, two-component polyurethane and two-component elastic polyurethane adhesives. The bonds of polyurethane adhesives are made in two steps: primarily, the adhesive cools back down to attain holding strength and, secondly, the adhesive usages moisture to continue curing for hours to days to achieve final structural strength. The demand of polyurethane resin is growing because it offers excellent bonding and fast fixing across several substrates such as composites, plastics, metal and others. The increasing demand of polyurethane resin across the automotive sector widely in electric vehicles due to its excellent features is expected to boost the market's growth during the forecast period.
- Rising investment in electric vehicle market
The rising investment in electric vehicle market due to the high demand of two-wheelers in developing nations has led to adoption of better-quality of adhesives in the upcoming period. For Instance: According to Avenue Capitals, In India, electric vehicle (EV) market is expected to be Rs 50,000 crore (US$ 7.09 billion) opportunity by 2025 for two- and three-wheeler vehicle and expected to drive the electric vehicle adhesives market growth rate.
Opportunities
- Increasing innovations and advancements
Battery packs' sustainability, durability and safety are anticipated to gain huge traction in the upcoming years. Currently, companies operating in the current electric vehicle adhesives market are anticipated to focus on the development of the new thermal-conductive interface materials for effective assembly of electric vehicles or hybrid electric vehicles batteries. For instance, DuPont revealed new electric or hybrid electric vehicles battery assembly solutions. Furthermore, companies are also progressing out adhesive solutions for both smaller requirements and large-volume assemblies, which will likely generate immense opportunities for the electric vehicle adhesives market growth in upcoming years.
Furthermore, increasing number of technological advancement with the growing number of research and development activities will further create locative opportunities that will led to the growth of the lithium market during the forecast period of 2022-2029.
Restraints/Challenges
- High cost of raw materials
The demand for the electric vehicles adhesives may be restrained by increased upfront cost and increasing raw materials prices. They are more expensive than other traditional adhesives, which is restraining the demand from the consumer’s perspective.
Furthermore, lack of standardization and limited availability of charging stations are some other major factors that act as market restraints. In contrast, the limited range of electric vehicle will further hinder the growth of the electric vehicles adhesives market during the forecast period of 2022-2029.
This electric vehicles adhesives market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the electric vehicles adhesives market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
COVID-19 Impact on Electric Vehicles Adhesives Market
The outbreak of COVID-19 pandemic has adversely adverse affected the growth of the several industries including electric vehicles adhesives worldwide. It has also posed unprecedented challenges on the sales, demand and production of electric vehicle adhesives considering the delayed activities across the automotive sectors. On the other hand, This pandemic will show a negligible impact on the medium to long-term growth of the two electric vehicles adhesives market due to the demand of electric vehicles and luxury vehicles, especially in emerging markets,
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Global Electric Vehicles Adhesives Market Scope
The electric vehicles adhesives market is segmented on the basis of form, resin, application, vehicle type and substrate. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Form
- Liquid
- Film and Tape
- Others
Resin
- Polyurethane
- Epoxy
- Silicone
- Acrylic
- Others
Application
- Powertrain System
- Exterior
- Interior
Vehicle Type
- Electric Car
- Electric Bus
- Electric Truck
- Electric Bike
Substrate
- Polymer
- Composite
- Metals
Electric Vehicles Adhesives Market Regional Analysis/Insights
The electric vehicles adhesives market is analysed and market size insights and trends are provided by country, form, resin, application, vehicle type and substrate as referenced above.
The countries covered in the electric vehicles adhesives market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the electric vehicles adhesives market in terms of revenue and market share due to the largest manufacturer of electric vehicles, increasing automotive sector and growing population in in this region.
North America will continue to project the highest compound annual growth rate during the forecast period of 2022-2029 due to growth in the production of vehicles. Moreover, the increasing investments in the electric vehicles manufacturing and rising production of batteries and EVs will be expected to drive the market growth rate in this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Electric Vehicles Adhesives Market Share Analysis
The electric vehicles adhesives market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to electric vehicles adhesives market.
Some of the major players operating in the electric vehicles adhesives market are:
- DuPont (U.S.)
- SOLVAY (Belgium)
- Dow (U.S.)
- Henkel AG and Co. KgaA (Germany)
- 3M (U.S.)
- Bostik (France)
- Sika AG (Switzerland)
- H.B. Fuller (U.S.)
- BASF SE (Germany)
- DAP Global Inc.(U.S.)
- Owens Corning (U.S.)
- The Chemours Company (U.S.)
- Paroc Group (Finland)
- Kingspan Group (Ireland)
- DAIKIN (Japan)
- GAF (U.S.)
- SOLVAY (Belgium)
- Saint-Gobain (France)
- Franklin International (U.S.)
- Illinois Tool Works Inc. (U.S.)
- AVERY DENNISON CORPORATION (U.S.)
- Three Bond Holdings Co., Ltd. (Japan)
- Dymax (U.S.)
- Ashland (U.S.)
- Shell (U.K.)
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