According to a market research report, the “Electric Vehicle Adhesives Market by Application (Powertrain System, Optical Element, Sensors & Communication, Body Frame), Resin Type (Epoxy, Polyurethane, Silicone, Acrylic), Substrate, Form, Vehicle Type, and Region – Global Forecast 2027″, size is estimated to be USD 1.4 billion in 2022 and is projected to reach USD 7.6 billion by 2027, at a CAGR of 39.4% between 2022 and 2027.
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657 Market data Tables
415 Pages and in-depth TOC on ” Electric Vehicle Adhesives Market – Global Forecast to 2027”
This report also provides a comprehensive analysis of the companies listed below:
The leading players in the Electric Vehicle Adhesives Market are Henkel AG & Co. KGaA (Germany), H.B. Fuller (US), Sika AG (Switzerland), 3M (US), Wacker Chemie AG (Germany), Arkema S.A. (France), Ashland Inc. (US), PPG Industries (US), Parker Hannifin Corporation (US), and Illinois Tool Works Inc. (US).
Merger & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the Electric Vehicle Adhesives Market.
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Henkel AG & Co. KGaA (Germany) involves in manufacturing, selling, and distributing home and beauty care products along with adhesive technology solutions. It operates in three segments: Adhesive Technologies, Beauty Care, and Laundry & Home Care. The Adhesive Technologies Business segment provides a wide range of products of adhesives, sealants, and functional coatings for consumers, craftsmen, and industrial applications. The Beauty Care segment involves hair colours, hair styling, hair care, toiletries, skincare, and oral hygiene products. The Laundry & Home Care segment offers heavy-duty and specialty detergents, fabric softeners, laundry performance boosters, other fabric-care goods, hand and automatic dishwashing items, and bathroom cleaners, including specialty cleaners, glass, and household. The industrial product portfolio of the company is divided into five Technology Cluster Brands: Loctite, Technomelt, Bonderite, Teroson, and Aquence. The company concentrates on four global brand platforms for consumers and craftsmen: Pritt, Loctite, Ceresit, and Pattex. It manufactures adhesives for EVs, which find applications in EV batteries, automotive cameras & radars, exterior, and interior. The company manufactures products at 185 sites, which are located in 56 countries.
H.B. Fuller (US) company designs, manufactures, and markets adhesives, sealants, and other specialty chemical products. The company operates in five segments: hygiene, health, & consumable adhesives; engineering adhesives; and construction adhesives. The Hygiene, Health, & Consumable Adhesives segment offers adhesive products to the manufacturing, packaging, converting, nonwoven, hygiene, health and beauty, flexible packaging, graphic arts, and envelope markets. The Engineering Adhesives segment produces adhesives for markets, such as transportation, electronics, medical, clean energy, aerospace & defense, performance wood, insulating glass, textile, appliance, and heavy machinery. The Construction Adhesives segment provides construction adhesives, sealants, tapes, mortars, and grouts. H.B. Fuller Company produces and sells adhesives for EVs through its engineering adhesives business operating segments. The company has 38 manufacturing facilities located in the US and another 36 plants located in 21 countries.
The new vehicles demand was low in pandemic-affected countries as a result of lockdowns and restrictions implemented to prevent the spread of the COVID-19 virus. However, the scenario is changing now. According to the European Automobile Manufacturers Association (ACEA), in 2022, electric buses have gained ground, accounting for 12.7% of the total EU bus market, a hike from 10.6% in 2021. Alternatively powered vehicles taken into account for 32.7% of the EU bus market in 2021, and the EU passenger car market remained strong in February 2023, rising by 11.5% to 802,763 units, which results in the growing demand for EV adhesives.
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