Analysts say that we can expect the global automotive adhesives market to reach the 6.05 billion mark by 2021 with a CAGR of 8.5% in the period from 2016 to 2021. The lightweighting trend, which promotes the use of alternative materials for which adhesives offer the best bonding solutions, is established in the US and Europe, and markets in the rest of the world are following suit. However, analysts warn that raw materials prices remain volatile and that further regulation of hazardous chemicals may impose growth constraints.
Body in white applications have the largest share of the automotive adhesives market and offers the greatest potential for lightweighting while still improving strength and toughness. It will represent the largest growth point for the automotive adhesive industry, largely driven by lightweighting goals and the need to bond dissimilar substrates.
Growing affluence in developing markets will fuel growth in the passenger vehicle segment while rising demand from the Asia-Pacific regionwill be linked not only to greater local consumer demand, but also the move towards emerging market production for developed market consumption. China will continue to be the largest automotive adhesives consumer in the region.