Global Electric Vehicle Adhesives Market Size By Resin Type (Epoxy, Acrylic, Silicone, Polyurethane), By Form Type (Film & Tape, Liquid), By Vehicle Type (Battery Electric Vehicle, Plug-In Hybrid Electric Vehicle), By Application (Pack & Module Bonding, Battery Cell Encapsulation, Thermal Interface Bonding), By Geographic Scope And Forecast

Electric Vehicle Adhesives Market Size And Forecast

Electric Vehicle Adhesives Market size was valued at USD 640 Million in 2022 and is projected to reach USD 13,250 Million by 2030, growing at a CAGR of 45% from 2023 to 2030.

The world of adhesives for Electric Vehicles is really taking off! It's all about making special glues and bonding stuff that's perfect for EVs. Think about it – these adhesives are super important for keeping all sorts of EV parts strong and reliable, like battery modules, power electronics, motors, and even the car's frame. And guess what's driving this market? You guessed it – more and more people are buying electric cars, especially those plug-in hybrid Electric Vehicles (PHEVs) and battery Electric Vehicles (BEVs). Right now, PHEVs are leading the pack because they're seen as a good stepping stone, giving you the best of both electric and gas-powered worlds. Want the inside scoop? The Global Electric Vehicle Adhesives Market report has got you covered. It gives you a complete look at the market, breaking down all the important parts, trends, what's helping it grow, what's holding it back, who the big players are, and everything else that's making a difference.

Global Electric Vehicle Adhesives Market Definition

Electric vehicle Adhesives are specialist materials used in the production and assembling of electric automobiles (EVs). These adhesives are created to offer a solid and dependable bind between various elements, including metals, composites, and polymers, utilized in the building of an electric vehicle (EV). They are used for several applications, including bonding body panels, fastening brackets to chassis parts, and sealing seams and joints. The need for lightweight, high-performance materials that can assist to increase the efficiency and range of EVs is driving up the importance of adhesives in the production of Electric Vehicles.

Traditional mechanical fasteners like bolts and screws, which can add unneeded weight to the vehicle and decrease its performance, can be replaced by adhesives. Adhesives are perfect for use in electric vehicle applications because they provide enhanced durability and resilience to high temperatures, vibration, and other environmental variables.

There are several formulas of adhesives for Electric Vehicles, including tapes, sealants, and structural adhesives. Synthetic polymers like epoxy, acrylics, and urethanes are frequently used to create these materials because of their strength, longevity, and resistance to environmental conditions. These specialized adhesives are used more frequently by manufacturers of electric cars and the parts that go into them to create lighter, more effective, and more environmentally friendly automobiles.

Global Electric Vehicle Adhesives Market Overview

Hey, so you know how everyone's going crazy for electric cars? Well, that's a huge reason why the market for adhesives for electric vehicles is booming! People, and even governments, are finally realizing how awesome electric cars are – less pollution, better mileage, and ditching those pesky fossil fuels. Because of all this, car companies are ramping up production, which means they need a ton of adhesives to make these cars perform better and last longer. Plus, the companies that make these adhesives are constantly trying to improve them. We're talking stronger bonds, longer lifespans, and adhesives that can stand up to pretty much anything! It's a whole new world of sticky science!

As a result, new formulations and materials are being created that are better able to survive the demanding conditions present in applications for Electric Vehicles. Furthermore, as consumers’ concerns about the environmental effect of their purchases grow, electric car manufacturers are concentrating on employing sustainable materials in their products. Owing to this, there is an increased need for adhesives that work well with these materials and can assist to lessen the total environmental effect of the production of Electric Vehicles.

However, for certain manufacturers, the cost of using Electric Vehicle Adhesives might be prohibitive compared to using conventional mechanical fasteners. Yet, the price of adhesives is probably going to go down as manufacturing quantities rise and economies of scale are realized. Some manufacturers may find it difficult to use adhesives because of the high level of technical knowledge required. But, experience in this field is expected to become more accessible as the usage of adhesives in the production of Electric Vehicles increases.

Hey, guess what? The Electric Vehicle Adhesives world is buzzing with opportunity! As electric cars get more and more popular, we're going to need a lot more of those super-strong, durable adhesives to keep them running smoothly. And get this – because of all the cool new adhesive technologies coming out, the Electric Vehicle Adhesives Market is looking seriously promising. Think stronger, longer-lasting adhesives that can handle anything Mother Nature throws at them! It's all about making them even better to keep up with the demands of this fast-growing electric vehicle scene.

Global Electric Vehicle Adhesives MarketSegmentation Analysis

The Global Electric Vehicle Adhesives market is segmented based on Resin Type, Form Type, Vehicle Type, Application, and Geography.

Electric Vehicle Adhesives Market, By Resin Type

• Epoxy
• Acrylic
• Silicone
• Polyurethane
• Others

So, when we talk about the type of resin used, the market's divided into things like epoxy, acrylic, silicone, polyurethane, and, well, others. Polyurethane? Yeah, that's expected to grab the biggest piece of the pie in the next few years. It's because they use tons of different resins to make it, so it comes in all sorts of qualities. And depending on those qualities, you'll find these adhesives popping up in all sorts of industries. Honestly, expect demand for polyurethane adhesives to just keep climbing! It's got this amazing quality – super elastic and really flexible. Plus, there are like, three different kinds of polyurethane adhesive, and each one's perfect for a different job.

Electric Vehicle Adhesives Market, By Form Type

• Film & Tape
• Liquid
• Others

Think about adhesives – they come in different forms, right? Like film & tape, liquids, and... well, others. But get thisliquid adhesives are expected to be the biggest deal. Why? Because when you squish a liquid adhesive between two things, it turns into something solid, bonding them together through some cool physical or chemical process. Basically, liquid adhesives are king in the form department. Now, let's talk electric cars. They use liquid adhesives everywhere – outside, inside, and even in the batteries.

Exterior applications are where liquid adhesives are really popular (second to interior applications), especially when it comes to the structural body of the car. A lot of liquid glue ends up on that structural body! So, it's safe to say that liquid adhesives make up a huge chunk of the Electric Vehicle Adhesives Market by form, all thanks to their heavy use in keeping those electric cars together.

Electric Vehicle Adhesives Market, By Vehicle Type

• Battery Electric Vehicle
• Plug-In Hybrid Electric Vehicle

On the basis of vehicle type, the market is split into battery Electric Vehicles and plug-in hybrid Electric Vehicles. The segment of plug-in hybrid Electric Vehicles is expected to account for the highest market share in the coming years. PHEVs feature internal combustion and electric engines, and their construction calls for various adhesives and bonding substances. A variety of pieces of an electric car, including the battery modules, power electronics, motors, and structural elements, employ adhesives.

These adhesives are essential for assuring the dependability and toughness of the vehicle’s parts. To suit the special requirements of PHEV applications, Electric Vehicle Adhesives must possess certain qualities, such as high strength, flexibility, and durability. PHEVs work in challenging conditions with high temperatures and vibrations, which can wear out and lead to component failure. As a result, the adhesives used in PHEVs must be strong enough to retain bonding under extreme stress.

Electric Vehicle Adhesives Market, By Application

• Pack & Module Bonding
• Battery Cell Encapsulation
• Thermal Interface Bonding
• Others

Based on application, the market is segmented into pack & module bonding, battery cell encapsulation, thermal interface bonding, and others. The pack & module bonding segment is anticipated to account for the highest market share as adhesives are used in the manufacturing of the battery packs for electric powertrains, which has a number of advantages including improved crashworthiness and integrity of the battery pack, lightweight, bonding of numerous substrates, and bonding of uncoated metal.

Electric Vehicle Adhesives Market, By Geography

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

On the basis of Geography, the global Electric Vehicle Adhesives market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The region of Asia Pacific leads the market as the Asia Pacific region is home to some of the world’s largest automotive markets, such as China, Japan, and India. These countries are major producers and consumers of Electric Vehicles, including plug-in hybrid Electric Vehicles (PHEVs). As a result, the demand for Electric Vehicle Adhesives is high in these countries, driving the growth of the market in the region.

The Asia Pacific region is a powerhouse for manufacturing, and that definitely includes making adhesives and bonding agents. This means they're in a great position to find top-notch adhesives for Electric Vehicles right here. Plus, there's a huge and skilled workforce that's ready to build both electric cars and all their parts. The region is also really focused on green and sustainable tech, and they see electric cars as key to reaching those goals. As more money flows into researching and building electric cars, the demand for special EV adhesives is only going to keep growing!

Key Players

The “Global Electric Vehicle Adhesives Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the market are Henkel, Wacker Chemie AG, Sika AG, Permabond. H.B. Fuller, PPG Industries, 3M, Parker Hannifin Corp, Lord Corporation, Jowat SE, Ashland, and Bostik.

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 2022, Dow unveiled a new line of VORATRONTM MA 8200S high-bonding adhesives at the 5th China International Import Expo (CIIE 2022). The performance of battery packs for electric cars is greatly improved by the New VORATRONTM MA 8200S high-bonding adhesives in terms of safety, sturdiness, sustainability, integrated assembly, and overall quality. Dow MobilityScienceTM, Dow’s cutting-edge solutions for the transportation sector, is responsible for this ground-breaking invention. The Shanghai Automotive Industry Company (SAIC) MG 4 uses the “Magic Cube” batteries, which this new series of adhesives has been successfully employed with (MG MULAN).
• In November 2019, on the company’s current 42-acre production and research campus in Cleveland, Ohio, PPG invested in a 2,100-square-foot automotive adhesives and sealants laboratory. For passenger cars, light trucks, SUVs, and commercial vehicles, the factory focuses on creating and testing structural adhesives, sealants, and associated materials. The new facility would also be utilized by PPG researchers to carry out their work on the next-generation coatings for lithium-ion battery cells, modules, and packs used in electric and autonomous vehicles. Modern testing tools are available in the new facility to evaluate the durability, adaptability, adhesion, and sound-dampening properties of PPG products used by several top original equipment manufacturers across the world.
• In September 2022, to enable the manufacture of EV batteries and electronics, Henkel expanded its Brandon factory. Henkel would be able to enhance the production of thermal interface materials needed to make high-performance electronics and electric cars thanks to the new facility’s cutting-edge manufacturing capabilities (EV). With a focus on the capabilities and components for next-generation electric cars, Henkel’s Brandon factory produces thermal interface material adhesives under the well-known names Loctite and Bergquist*, which are used in the electronics and automotive industries.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the global Electric Vehicle Adhesives Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the global Electric Vehicle Adhesives market, gauge the attractiveness of a certain sector, and assess investment possibilities.