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 2031.
Electric Vehicles Adhesives Market Analysis and Size
The global electric vehicles 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 global electric vehicles adhesives market.
Data Bridge Market Research analysis that the global electric vehicles adhesives market was valued at USD 4.10 billion in 2023 is expected to reach the value of USD 10.30 billion by 2031, at a CAGR of 12.20% during the forecast period of 2024 to 2031. 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. 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.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Billion, 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, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa
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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.), Saint-Gobain S.A. (France), Franklin International (U.S.), Illinois Tool Works Inc. (U.S.), AVERY DENNISON CORPORATION (U.S.) ThreeBond Holdings Co., Ltd. (Japan), Dymax (U.S.), Ashland (U.S.), Shell plc (U.K.)
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Market Opportunities
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Market Definition
The global electric vehicles adhesives market refers to a specialized segment within the adhesive industry, focusing on products tailored for the manufacturing and assembly of electric vehicles (EVs). These adhesives play a pivotal role in bonding, sealing, and managing thermal properties in critical components such as batteries, chassis, and powertrains. Characterized by ongoing technological advancements to meet the unique demands of EV manufacturing, the market operates within regulatory frameworks and promotes environmentally sustainable adhesive solutions. Competitiveness among key players drives innovation, research, and strategic collaborations to enhance product offerings, addressing the distinct challenges posed by the evolving electric vehicle industry.
Global Electric Vehicles Adhesives Market Dynamics
Drivers
- Rise in Electric Vehicle Adoption
The rising global adoption of electric vehicles (EVs) represents a pivotal shift towards sustainable and eco-friendly transportation, acting as a catalyst for transformative changes in the automotive industry. As governments, consumers, and manufacturers increasingly prioritize environmental concerns, the demand for EVs surges. This surge necessitates the use of specialized adhesives in EV manufacturing. Unlike traditional internal combustion engine vehicles, EVs require lightweight materials and intricate bonding solutions to enhance structural integrity, ensure safety, and support the unique design characteristics of electric vehicle components. As the automotive landscape evolves, the demand for these adhesives is propelled by the quest for energy efficiency, extended driving range, and compliance with stringent environmental regulations, aligning with the broader global commitment to sustainable and greener mobility solutions.
- High Usage of Polyurethane Resin
Polyurethane adhesives are made up of urethane polymers. They contain higher elasticity and elongation up to 600% before fracture. 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.
Opportunity
- Expansion of E-commerce
Adhesives play a pivotal role in the light weighting of electric vehicles, crucial for enhancing fuel efficiency and extending electric range. The market opportunity lies in catering to the increasing demand for adhesives that offer robust bonding specifically tailored for lightweight materials such as aluminum and composite structures. These adhesives not only reduce overall vehicle weight but also ensure structural integrity, promoting energy efficiency. As the automotive industry transitions towards electric mobility, the emphasis on lightweight design becomes paramount, making the development and utilization of advanced adhesives a strategic avenue for manufacturers to meet the evolving demands of the global electric vehicles adhesives market.
Restraints
- High Research and Development Costs
Developing specialized adhesives that meet the stringent requirements of electric vehicles can be costly. The need for continuous research and development to create innovative, high-performance adhesive solutions may pose a financial challenge for manufacturers.
- Stringent Regulatory Compliance
Adhesives used in electric vehicles must comply with strict regulations related to safety, emissions, and environmental impact. Meeting these regulatory standards can be demanding and may limit the formulation options for adhesive manufacturers.
This global 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 global 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.
Recent Developments
- In January 2022, H.B. Fuller Company announced that it completed the acquisition of Apollo, the largest independent manufacturer of liquid adhesives,coatings and primers for the roofing, industrial and construction markets in U.K.
- In September 2022, Henkel AG & Co.KGaA has completed the acquisition of Nanoramic Laboratories Thermal Management Management Materials business.Henkel used this acquisition to strengthen its Adhesive Technologies business unit’s position in the growing markets for Thermal Interface Materials (TIM) by expanding its capabilities in high-performance segments
Global Electric Vehicles Adhesives Market Scope
The global 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
- Interior
Vehicle Type
- Electric Car
- Electric Bike
- Electric Truck
- Electric Bus
Substrate
- Polymer
- Composite
- Metals
Global Electric Vehicle Adhesives Markets Regional Analysis/Insights
The electric vehicles adhesives market is analyzed 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 global 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 in the Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa as a part of Middle East and Africa, Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific is the region which dominates the global 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 region is expected to the highest compound annual growth rate during the forecast period of 2024-2031 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 such as 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 Global Electric Vehicles Adhesives Market Share Analysis
The global 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 the global electric vehicles adhesives market.
Some of the major players operating in the global 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.)
- Saint-Gobain S.A. (France)
- Franklin International (U.S.)
- Illinois Tool Works Inc. (U.S.)
- AVERY DENNISON CORPORATION (U.S.)
- ThreeBond Holdings Co., Ltd. (Japan)
- Dymax (U.S.)
- Ashland (U.S.)
- Shell plc (U.K.)
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