Global Automotive Coatings, Adhesives, And Sealants (CAS) Market Size By Product (Urethane-Based Automotive Coatings And Adhesives, Epoxy-Based Automotive Coatings And Adhesives), By Application (Exterior Application, Interior Application), By Geographic Scope And Forecast

Automotive Coatings, Adhesives, And Sealants (CAS) Market Size And Forecast

Automotive Coatings, Adhesives, And Sealants (CAS) Market size was valued at USD 7.61 Billion in 2020 and is projected to reach USD 11.7 Billion by 2028, growing at a CAGR of 5.56% from 2021 to 2028.

Market growth is expected to be driven by increased demand for lightweight automobiles with excellent fuel economy. The Global Automotive Coatings, Adhesives, And Sealants (CAS) Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Automotive Coatings, Adhesives, And Sealants (CAS) Market Definition

In the automotive sector, adhesives and sealants are used for bonding, sealing, providing heat resistance, and lowering vehicle weight. Automotive adhesives and sealants are used in a wide range of applications, from small components like sensors to large components like automobile chassis. Because they reduce vehicle weight while improving fuel efficiency, they are frequently used instead of welding. Sealants are more flexible than adhesives and have better tensile and shear strength, making them appropriate for a variety of bonding and holding applications.

Vinyl acetate monomer, acrylics, polyester resins, epoxide resins, amine-based resins, ethylene, and propylene, among other raw materials, are utilized to make the bulk of adhesives used in the automotive industry today. Leading industry players, on the other hand, are rapidly creating new products based on bio-based and renewable feedstock. Sealants that used to be silicone or acrylic-based are now being made with renewable feedstock and creative technologies to increase product quality. The waterproof features of Sika AG’s inventions, such as anchoring and multifunctional sealants, are developed specifically for automotive applications.

Global Automotive Coatings, Adhesives, And Sealants (CAS) Market Overview

Adhesives and sealants are used on the inside and outside of car components in a variety of applications. Market growth is expected to be driven by increased demand for lightweight automobiles with excellent fuel economy. Automotive adhesives are replacing traditional welding and attaching procedures due to their enhanced bonding capabilities, which is expected to fuel market growth throughout the forecast period. However, fluctuating raw material prices are a significant factor that could stymie industrial expansion. The demand for bio-based adhesives has increased as a result of constant R&D operations for the development of bio-based adhesives, as well as strict environmental restrictions regulating the use of volatile organic compounds. As a result, the industry is expected to experience tremendous growth.

Vehicle manufacturers have transitioned away from traditional procedures and toward new assembly technologies in recent years. To construct joints, manufacturers typically use high-performance mechanical fasteners or welds. However, because consumer preferences differ, developing unique assembly procedures is required to make the rapid shift to more efficient vehicle designs consisting of lighter-gauge metals, plastics, nonferrous metals, and coated steels. As a result, the use of adhesives for bonding automotive components is on the rise, propelling the Automotive Coatings, Adhesives, And Sealants (CAS) Market forward. Automobile manufacturers are spending a lot of money on research and development in order to make lightweight vehicles with a lot of power and speed.

Manufacturers all over the world have recently replaced steel fasteners like nuts and bolts with structural adhesives that have excellent bonding properties. The usage of these adhesives prevents cars from gaining weight as a result of the hefty steel fixtures that are used. Governments all across the world are enforcing automobile safety rules and regulations. The use of adhesives and sealants, which provide strength to automobile parts, has increased as customer awareness of car safety has grown. The impact of head-on collisions can also be absorbed by adhesives. Mastics, which are rubber compounds used in non-structural application areas, assist in the filling of the vacuum in a vehicle during the BIW stage, which aids in shock absorption and thus promotes passenger safety. Such factors are estimated to increase the Automotive Coatings, Adhesives, And Sealants (CAS) Market during the forecast period.

Global Automotive Coatings, Adhesives, And Sealants (CAS) Market Segmentation Analysis

The Global Automotive Coatings, Adhesives, And Sealants (CAS) Market is segmented on the basis of Product, Application, and Geography.

Automotive Coatings, Adhesives, And Sealants (CAS) Market, By Product

• Urethane-Based Automotive Coatings and Adhesives• Epoxy-Based Automotive Coatings and Adhesives• Acrylic-Based Automotive Coatings and Adhesives• Other

Based on Product, the market is segmented into Urethane-Based Automotive Coatings and Adhesives, Epoxy-Based Automotive Coatings and Adhesives, Acrylic-Based Automotive Coatings and Adhesives and Others. The Automotive Coatings, Adhesives, And Sealants (CAS) Market were dominated by Epoxy-Based Automotive Coatings and Adhesives.

Automotive Coatings, Adhesives, And Sealants (CAS) Market, By Application

• Exterior Application• Interior Application• Under the Hood Application• Other

Based on Application, the market is segmented into Exterior Application, Interior Application, Under the Hood Application, and Others. During the forecast period, the Exterior application is expected to account for the largest share of the Automotive Coatings, Adhesives, And Sealants (CAS) Market. Exterior applications are projected to continue to play a significant role in the car industry. Adhesives, as opposed to rivets, help to distribute stress loads more uniformly, resulting in improved rollover and impact test performance. Acrylics adhere to a wide range of surfaces, including plastics, ceramics, metals, and glass. Epoxies are generally used in headlights for UV curing.

Automotive Coatings, Adhesives, And Sealants (CAS) Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

On the basis of Regional Analysis, the Global Automotive Coatings, Adhesives, And Sealants (CAS) Market is classified into North America, Europe, Asia Pacific, and Rest of the world. In the future years As a result of increased automobile production and improvements in adhesives in the automotive sector, Asia Pacific (APAC) is predicted to account for the largest share of the global Automotive Coatings, Adhesives, And Sealants (CAS) Market. Manufacturers are focusing on generating eco-friendly and rapid curing adhesives from bio-based and renewable resources, which will fuel industry progress. Emerging nations such as India and China are likely to offer significant potential opportunities. Furthermore, increased urbanization and the widespread use of sealants and adhesives in automotive applications such as gasket insertion, core plug sealing, and car hose bonding are expected to boost demand for the target product.

Key Players

The “Global Automotive Coatings, Adhesives, And Sealants (CAS) Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the market are Arkema Group, Huntsman International LLC, Henkel AG & Co. KGaA., Dow, Avery Dennison Corp., 3M, HB Fuller, ITW Performance Polymers, Sika AG, and TESA SE

Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.

Key Developments

• In November 2021, Sika AG, one of the market’s key participants, struck a final agreement with MBCC, a global leader in building chemicals with annual sales of around 2.9 billion dollars. Sika AG is in the process of acquiring MBCC Group in order to accelerate its expansion strategy and cement its position as the global construction industry’s sustainability champion.

• In December 2021, 3M has teamed up with neogen’s food safety unit. The combined company would be valued at USD 9.3 billion, including debt.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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