[180 Pages Report] The Electric Vehicle Adhesives Market size was estimated at USD 733.19 million in 2023 and expected to reach USD 941.93 million in 2024, at a CAGR 29.40% to reach USD 4,455.11 million by 2030.
An electric vehicle adhesive is a chemical substance used to mechanically bond identical or different materials and substrates, including powertrain, optical element, sensors, and body frame, by the surfaces of an electric vehicle (EV). The scope for electric vehicle adhesives is rapidly rising owing to the surge in demand for electric vehicles across the world. Electric vehicle adhesives provide reliable, long-lasting bonding and sealing, improving safety for EVs. In addition, automobile manufacturers are increasing the adoption of electric vehicle adhesive by replacing traditional fastening hardware, such as bolts and welding, to fulfill the increasing need for lightweight and fuel-efficient vehicles. The volatility in the raw materials prices required for electric vehicle adhesives and their environmental impacts still hamper the widespread adoption of these adhesives. However, rising government investment in the automotive industry and advancement in vehicle electrification technology is enabling lucrative opportunities for the electric vehicle adhesives market.
Regional Insights
The market for electric vehicle adhesives is expected to grow rapidly in the EMEA following the new advancement in products by manufacturers in the region. The advancements such as reseal ability and recyclability of electric vehicle adhesives can improve the battery life of EVs and are anticipated to drive the market growth in the EMEA. Furthermore, APAC is showing high growth for electric vehicle adhesives due to the presence of most EV and original equipment manufacturers (OEM). The rising EV manufacturing hubs such as China and India are driving the growth of electric vehicle adhesives to manufacture lightweight EVs, resulting in the expanding scope for this adhesive material in the Asia-Pacific region. Moreover, the government initiatives to reach net-zero emission and adopt the EVs across multiple countries across the Americas, including Canada and the U.S., are expected to raise the scope for EV assembling units and, thus, provide lucrative opportunities for electric vehicle adhesives producers.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Electric Vehicle Adhesives Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Electric Vehicle Adhesives Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Electric Vehicle Adhesives Market, highlighting leading vendors and their innovative profiles. These include 3M Company, Arkema Group, AVERY DENNISON CORPORATION, Coroplast Verwaltungs GmbH, DELO Industrie Klebere GmbH & Co. KGaA, DOW Inc., DuPont de Nemours, Inc., Dymax Corporation, Elkem ASA, Ellsworth Corporation, Epoxies, Etc. by The Meridian Adhesives Group, H.B. Fuller Company, Henkel AG & Co. KGaA, Huntsman Corporation, Illinois Tool Works Inc., ITW Electronics, Jowat SE, L&L Products, Inc., Master Bond Inc., Momentive Performance Materials Inc., Parker Hannifin Corp., Permabond LLC, PPG Industries, Inc., Samaro, Sika AG, Tecman Group, tesa SE, ThreeBond Holdings Inc., Wacker Chemie AG, and WEVO-CHEMIE GmbH.
Market Segmentation & Coverage
This research report categorizes the Electric Vehicle Adhesives Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Resin Type
- Acrylic
- Epoxy
- Polyurethane
- Silicone
- Form
- Film & Tape
- Liquid
- Vehicle Type
- Electric Bike
- Electric Bus
- Electric Car
- Electric Truck
- Substrate
- Composite
- Metal
- Polymer
- Application
- Exterior
- Interior
- Powertrain System
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report offers valuable insights on the following aspects:
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:
- What is the market size and forecast of the Electric Vehicle Adhesives Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Electric Vehicle Adhesives Market?
- What are the technology trends and regulatory frameworks in the Electric Vehicle Adhesives Market?
- What is the market share of the leading vendors in the Electric Vehicle Adhesives Market?
- Which modes and strategic moves are suitable for entering the Electric Vehicle Adhesives Market?
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