Global Automotive Body Repair Adhesives Market Size By Type (Steel, Aluminum), By Vehicle Type (Commercial Vehicle, Passenger Vehicle), By Geographic Scope And Forecast

Automotive Body Repair Adhesives Market Size And Forecast

Automotive Body Repair Adhesives Market size was valued at USD 3,420.98 Million in 2020 and is projected to reach USD 5,998.61 Million by 2030, growing at a CAGR of 6.40% from 2023 to 2030.

The number of road accidents is growing at an exponential manner, resulting in higher demand for the aftersales or collision repair service. The Global Automotive Body Repair Adhesives 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 Body Repair Adhesives Market Definition

Adhesives are lightweight components that are used to bind metals, composites, plastics, and other materials together. In the automotive sector, adhesives are increasingly being used to join various car components such as closures and structural modules. Increased use of adhesives by manufacturers reduces vehicle mass, increases front and rear lateral body stiffness, enhances crash performance and reduces noise, vibration, and harshness (NVH). Adhesive bonding also enables the generation of new innovative vehicle body designs and mixed-material designs that include high-strength steels, nonferrous metals, plastics, and composites. Adhesives also have a strong bonding strength across a wide range of substrates. The Application area of adhesives includes dashboards, door panels, electronics, light covers, and lenses, as well as steel and alloy components. As adhesive technology develops, more advanced body panel adhesive solutions can be used in vehicle assembly and repairs. The automobile industry is the main user of auto body panel adhesive systems, which are used throughout the transportation and vehicles sector. The automotive panel adhesive, on the other hand, is similar to the body panel glue used on public transit (trains and buses), road transportation (trucks, ambulances, etc.), and heavy construction and agricultural machinery. Panel bond adhesive solutions speed up assembly lines and allow for quick repairs, especially where welded bonding is neither practical nor desirable. Adhesive methods for transportation vehicles and automotive body panels also replace traditional mechanical fasteners and provide numerous advantages.

The properties offered by automotive body repair adhesives include lightweight, Anti-corrosive, Noise, and vibration canceling, Bonding dissimilar materials, and Efficiency. As material and in terms of application, vehicle body adhesives are much less expensive than fasteners. Body panel adhesive application can be completely automated, saving time and money. Welds and mechanical fasteners are often heavier than auto body panel adhesive systems; therefore they can significantly reduce the weight of a vehicle, resulting in lower fuel consumption and emissions

Global Automotive Body Repair Adhesives Market Overview

The Automotive Body Repair Adhesives Market is expanding as the number of automotive vehicles sales has increased in past few years. This is mainly due to growing GDP, expanding middle-class population, and a rise in disposable income. In 2021, the auto sales in China were 26.28 million units representing a hike of 3.8% from 2020 as per China Association of Automobile Manufacturers (CAAM) statistics. Car sales in Canada rose by 33% in the first half of 2021. Rising auto sales has pushed the growth of auto-industry but has also increased the number of vehicles damaged through collision. According to the National Safety Council, the number of motor-vehicle crashes with another vehicle is highest in the total motor vehicle collision/crash type. Increased car crashes result in higher vehicle damage, which generates a higher need for body repair solutions. The number of road accidents is growing at an exponential manner, resulting in higher demand for the aftersales or collision repair service.

Moreover, the demand for adhesives has risen exponentially in the recent past as the manufacturers are shifting toward reducing the weight of the vehicles. Adhesives are the preferred option for joining the auto-parts at the time of assembly and repair. As technology advances, the car is glued using adhesives instead of screwed or mechanically bonded. The adhesives distribute the overall weight of the bond on the surface. The use of plastics and composite in automotive vehicles in the interior, as well as exterior, is increasing to reduce the weight of the vehicle. Some of the advantages of the adhesives are the ability to bond dissimilar materials, being lightweight, reducing the overall auto-vibration, higher ability to form structural bonds, and others. Crash tests using adhesives have shown that glued cars perform much better than welded designs. Also, aesthetically, the adhesives are preferred as they are entirely hidden between two substrates giving a smooth panel even after a collision repair.

However, the cost volatility of the Thermoplastic and thermoset adhesives hampers the growth of this market.Besides, the emergence of bio-based automotive adhesives and the rise in the demand for autonomous and electric vehicles is creating opportunities for the market. Manufacturers are shifting their focus towards introducing bio-based adhesives to promote sustainability, especially in electric vehicles. Several adhesive manufacturers are investing in the research and development activities for new bio-based adhesives, which are contributing to a sustainable future.

Global Automotive Body Repair Adhesives MarketSegmentation Analysis

The Global Automotive Body Repair Adhesives Market is segmented on the basis of Type, Vehicle Type, Application, And Geography.

Automotive Body Repair Adhesives Market, By Type

• Steel• Aluminum• Others

Based on Type, the market is bifurcated into Steel, Aluminum, and Others. Steel accounted for the largest market share and is projected to grow during the forecast period. Steel is the most common material used in automobiles due to its unique physical properties. This segment accounted for the dominant segment in the global automotive body repair adhesives market owing to the rising demand for steel in automotive adhesives. Steel comes in different forms that are utilized in various applications and each has its own set of features. In areas where passenger safety and vehicle structure demand higher strength materials and lower weights, higher strength steels are used. Steel demand is increasing in the automotive repair sector, which is fueling the market growth.

Automotive Body Repair Adhesives Market, By Vehicle Type

• Commercial Vehicle• Passenger Vehicle

On the basis of Vehicle Type, the Global Automotive Body Repair Adhesives Market has been segmented into Commercial Vehicle and Passenger Vehicle. Passenger Vehicle accounted for the largest market share and is projected to grow during the forecast period. Rising demand for passenger vehicles and increasing cases of vehicle damage across the globe propelling the market growth for the global automotive body repair adhesives market. This segment will hold a dominant position in the global market during the forecast period. Total passenger vehicle, three-wheeler, two-wheeler (excluding BMW, Mercedes, Tata Motors, and Volvo Auto), and quadricycle manufacturing reached 2,214,745 units in October 2021, according to the India Brand Equity Foundation (IBEF). In 2021, a total of 22,652,108 passenger vehicles were produced. Two-wheelers and passenger vehicles dominate the Indian automobile market.

Automotive Body Repair Adhesives Market, By Application

• Bumpers• Spoilers• Dash Boards• Body Panels• Front Grills• Others

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On the basis of Application, the Global Automotive Body Repair Adhesives Market has been segmented into Bumpers, Spoilers, Dash Boards, Body Panels, Front Grills, and Others. Body Panels accounted for the largest market share and is projected to grow during the forecast period. The body panels segment accounted for the largest market share in the global automotive body repair adhesives market owing to the increasing usage of automotive body repair adhesives in body panels. Panel bonding adhesive can be used to join properly prepared steel, aluminum, and a variety of polymers and composites in these areas. Several adhesive technologies can be used for the aforementioned applications. Solvent-based, waterborne, and hot melt adhesives are the three main types.

Automotive Body Repair Adhesives Market, By Geography

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

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On the basis of regional analysis, the Global Automotive Body Repair Adhesives Market is classified into North America, Europe, Asia Pacific Middle East and Africa, and Latin America. Asia Pacific accounted for the largest market share and is projected to grow at the highest CAGR during the forecast period. The economic growth in the Asia Pacific region, especially in the emerging markets such as India, Taiwan, Indonesia, Thailand, Malaysia, and Vietnam, is contributing to the increase in demand. The market for sealants is increasing exponentially in China and the Indian subcontinent due to the growing automobile manufacturing market in these countries. With the consistent economic development and increasing incomes, the automotive industry has been witnessing a continued shift in vehicle preferences, from two- to four-wheelers, which helps to augment the market for passenger cars in the country.

Key Players

The major players in the market are Bigoven, Food Network, SideChef, BBC Good Food, Tasty, AllRecipes, Yummly. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into 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

• DuPont announced it has entered into a definitive agreement to acquire Rogers Corporation for cash,(the “Intended Rogers Acquisition”).

• The transaction is subject to approval by Rogers’ shareholders, which was received on January 25, 2022, with regulatory approvals, and customary closing conditions.

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• 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 from 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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