APAC Automotive Adhesives and Sealants Market: The Future Impact Of The Propellants And Restraints On The Market

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The APAC automotive adhesives and sealants market is estimated to attain a size of $3,403.6 million in 2017 and is projected to reach $4,938.0 million by 2023, registering a CAGR of 6.5% during the forecast period. The major factors driving the growth of market are increasing usage of lightweight materials in the vehicle manufacturing and increasing vehicle production in APAC.

The APAC automotive adhesives and sealants market is being positively influenced by the use of lightweight materials in vehicle manufacturing, which is on the rise. Automotive adhesives and sealants improve the driving comfort, reliability, safety, and performance of vehicles, which is why they are excessively used in the automotive sector.

As lighter vehicles are able to achieve higher speeds as compared to heavier vehicles with engines of comparable power, steel and iron are being replaced with lightweight substitutes, such as plastic, composites, and aluminium. To form a strong structure, adhesives and sealants are used, as lightweight components cannot be bolted or welded. Another aspect aiding in the domain growth is the increasing vehicle production in India, China, and Malaysia. Organisation Internationale des Constructeurs d’Automobiles mentions that China is the biggest auto-producing nation in the world. Therefore, the APAC automotive adhesives and sealants domain is predicted to prosper further.

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On the basis of type, the APAC automotive adhesives and sealants market is segmented into epoxy, acrylics, polyurethanes, rubber, PVC, silicones, and hot melts. Among all types, epoxy is expected to be the fastest growing category in terms of volume sales, witnessing a CAGR of 4.6% during the forecast period. It also held the largest share in the market, attributed to its superior properties, over other types, such as excellent dimensional stability, surface hardness, high temperature stability, good heat-resistance, cost-effectiveness, fire-resistance, and very low flammability.

Based on application, the APAC automotive adhesives and sealants market is categorized into body in white (BIW), under-the-hood (UTH) and power train, paint shop, and assembly. BIW application accounted for more than 30.0% volume share in the APAC market in 2017. The largest share of the application is attributable to the high consumption of epoxy, polyurethane, and acrylics during the manufacturing process of cars.

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Due to the rising environmental concerns, the companies are developing bio-based adhesives and sealants to replace chemical based adhesives and sealants. In order to enhance the sustainability efforts without compromising performance, the companies are developing bio-based adhesives and sealants. For example, DowDuPont Inc. developed RENUVA technology for adhesives and sealants, which offers benefits that covers various applications in the adhesives and sealants marketplace, including improved water resistance, high flexibility, and good adhesion on a variety of substrates. Hence, it is expected to create opportunities for the industry players operating in the APAC automotive adhesives and sealants market.

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