Pune, India, Oct. 18, 2021 (GLOBE NEWSWIRE) -- According to MarketStudyReport, worldwide electric vehicle adhesives market size was worth USD 0.3 billion in 2020 and is projected to multiply with a CAGR of a 44.7% over 2021-2027, reaching a valuation of USD 4 billion by the end of the forecast period.
Taking the assessment further, the document segments the vertical into sub-markets, and individually assesses them to infer their contribution to the overall market expansion. It also recognizes key revenue generating prospects in the process.
Lastly, the research entails a detailed study of the competitive framework, unraveling the business profile, financials, and marketing strategies of the leading companies in the domain. It lists out the winning tactics adopted by the behemoths to improve revenue while cushioning market turbulence.
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This growth can be ascribed to rising consumer demand for electric vehicles, which is bolstered by government incentives, as well as the need for lightweight, crashworthiness, and safety of vehicles, all of which are driving higher adhesive usage.
For the unversed, electric vehicle adhesives are liquid adhesives that are applied between two surfaces to form a solid material that chemically or physically binds the two substrates together. In electric vehicles, liquid adhesives are utilized for several applications, including interiors, exteriors, and electric batteries.
Global electric vehicle adhesives industry is anticipated to observe new growth prospects as autonomous EVs gain popularity. According to Statista, the electric vehicle fleet is predicted to grow from 8.5 million units in 2020 to around 115 million units by 2030 globally. This is projected to boost demand for EV adhesives and their application in the manufacturing of electric automobiles.
Considering factors restraining the industry expansion, hefty upfront cost of electric vehicles is likely to hamper the remuneration scope of the industry over the study period.
Regional landscape outlook
Seasoned analysts cite that Asia Pacific currently holds sizeable revenue share in worldwide electric vehicle adhesives market and is slated to expand through 2027, owing to rapid industrialization in developing firms, surging demand for such adhesives in flourishing automotive sector, and rising production & sales of electric vehicles in the region.
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Global Electric Vehicle Adhesives Market by Application Spectrum (Value, USD Billion, 2018-2027)
- Interior
- Exterior
- Powertrain
Global Electric Vehicle Adhesives Market by Resin Type (Value, USD Billion, 2018-2027)
- Acrylics
- Silicones
- Polyurethane
- Epoxy
- Others
Global Electric Vehicle Adhesives Market by Vehicle Type (Value, USD Billion, 2018-2027)
- Electric Truck
- Electric Bike
- Electric Bus
- Electric Car
Global Electric Vehicle Adhesives Market by Substrate Gamut (Value, USD Billion, 2018-2027)
- Metals
- Composite
- Plastic
- Others
Global Electric Vehicle Adhesives Market by Form (Value, USD Billion, 2018-2027)
- Film & Tape
- Liquid
- Others
Global Electric Vehicle Adhesives Market Regional Bifurcation (Value, USD Billion, 2018-2027)
North America
- U.S.
- Canada
Europe
- The U.K.
- Germany
- France
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
Rest of The World
Global Electric Vehicle Adhesives Market Major Players (Value, USD Billion, 2018-2027)
- L&L Products
- Lord Corporation
- PPG Industries Inc.
- Ashland Global Specialty Chemicals Inc.
- Bostik S.A. (An Arkema Company)
- Wacker Chemie AG
- 3M Company
- Sika AG
- H.B. Fuller Company
- Henkel AG & Co. KGaA
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Electric Vehicle Adhesives Market, by Region, 2019-2027 (USD Billion)
1.2.2. Electric Vehicle Adhesives Market, by Application, 2019-2027 (USD Billion)
1.2.3. Electric Vehicle Adhesives Market, by Resin Type, 2019-2027 (USD Billion)
1.2.4. Electric Vehicle Adhesives Market, by Vehicle Type, 2019-2027 (USD Billion)
1.2.5. Electric Vehicle Adhesives Market, by Substrate, 2019-2027 (USD Billion)
1.2.6. Electric Vehicle Adhesives Market, by Form, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Electric Vehicle Adhesives Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Electric Vehicle Adhesives Market Dynamics
3.1. Electric Vehicle Adhesives Market Impact Analysis (2019-2027)
3.1.1. Market Drivers
3.1.1.1. Growing consumer preference for electric vehicles supported by government incentives
3.1.1.2. Requirement for lightweight, crashworthiness, and safety increasing the use of adhesives
3.1.2. Market Restraint
3.1.2.1. High upfront cost of electric vehicles
3.1.3. Market Opportunities
3.1.3.1. Scope for growth of autonomous electric vehicle
Chapter 4. Global Electric Vehicle Adhesives Market Industry Analysis
4.1. Porter's 5 Force Model
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Electric Vehicle Adhesives Market, by Application
a. Market Snapshot
5.1. Global Electric Vehicle Adhesives Market by Application, Performance - Potential Analysis
5.2. Global Electric Vehicle Adhesives Market Estimates & Forecasts by Application 2018-2027 (USD Billion)
5.3. Electric Vehicle Adhesives Market, Sub Segment Analysis
5.3.1. Powertrain
5.3.2. Exterior
5.3.3. Interior
Chapter 6. Global Electric Vehicle Adhesives Market, by Resin Type
b. Market Snapshot
6.1. Global Electric Vehicle Adhesives Market by Resin Type, Performance - Potential Analysis
6.2. Global Electric Vehicle Adhesives Market Estimates & Forecasts by Resin Type 2018-2027 (USD Billion)
6.3. Electric Vehicle Adhesives Market, Sub Segment Analysis
6.3.1. Epoxy
6.3.2. Polyurethane
6.3.3. Silicones
6.3.4. Acrylics
6.3.5. Others
Chapter 7. Global Electric Vehicle Adhesives Market, by Vehicle Type
c. Market Snapshot
7.1. Global Electric Vehicle Adhesives Market by Vehicle Type, Performance - Potential Analysis
7.2. Global Electric Vehicle Adhesives Market Estimates & Forecasts by Vehicle Type 2018-2027 (USD Billion)
7.3. Electric Vehicle Adhesives Market, Sub Segment Analysis
7.3.1. Electric Car
7.3.2. Electric Bus
7.3.3. Electric Bike
7.3.4. Electric Truck
Chapter 8. Global Electric Vehicle Adhesives Market, by Substrate
d. Market Snapshot
8.1. Global Electric Vehicle Adhesives Market by Substrate, Performance - Potential Analysis
8.2. Global Electric Vehicle Adhesives Market Estimates & Forecasts by Substrate 2018-2027 (USD Billion)
8.3. Electric Vehicle Adhesives Market, Sub Segment Analysis
8.3.1. Plastic
8.3.2. Composite
8.3.3. Metals
8.3.4. Others
Chapter 9. Global Electric Vehicle Adhesives Market, by Form
e. Market Snapshot
9.1. Global Electric Vehicle Adhesives Market by Form, Performance - Potential Analysis
9.2. Global Electric Vehicle Adhesives Market Estimates & Forecasts by Form 2018-2027 (USD Billion)
9.3. Electric Vehicle Adhesives Market, Sub Segment Analysis
9.3.1. Liquid
9.3.2. Film & Tape
9.3.3. Others
Chapter 10. Global Electric Vehicle Adhesives Market, Regional Analysis
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