The global automotive coatings adhesives sealants market is projected to grow at a CAGR of 4.5% during 2018-2028. Increasing demand for high-quality and durable automobiles, coupled with stringent environmental regulations across the world is expected to drive this growth. The major restraint in the market is the rise in raw material prices which has led to increasing in product cost and thereby reduced customer acceptance.
Automotive coatings adhesives sealants is a type of automotive co-product which includes all the products such as solvent-based, water-based, and powder. These are high-quality and durable materials used for sealing gaps in joints with various rubber seals. It is a group of products that serve as an interface between two materials. They provide protection against corrosion and also create an airtight barrier for the vehicle body which is important in diesel-powered vehicles where there is less space available inside to accommodate insulation material.
On the basis of type, the global automotive coatings adhesives sealants market is segmented into solvent-based, water-based, and powder.
They are mainly applied for the bonding and sealing of rubber or metal parts. These adhesives can be used to seal the joints between body panels, windows and windshields, door seams, and other areas exposed to air when in motion. Solvents-based products have better flexibility which makes them more suitable than water-based coatings for use with soft rubbers like natural latexes. However, due to its nature solvent-based adhesive is also combustible so it's not allowed in sensitive areas such as fuel tanks. they can be used on all types of metal surfaces, rubber materials as well as plastics because it has a broad range of compatibility with other substances. The only disadvantage would probably be the tendency to evaporate away faster, therefore, needing more frequent application, unlike water-based products that take longer before drying out. These adhesives need heat activation in order to harden whereas water-based needs light or high-temperature conditions instead."
A water-based sealant is a type of adhesive which is typically used in the automotive industry. It consists of two components, one that dissolves (water base) and another that dries on contact with air (polymer). This kind of adhesives is usually applied to fill small gaps between surfaces such as joints or cracks. The polymer component provides strength while the water-based component adsorbs into surfaces upon drying creating an air-tight barrier for vehicle body parts inside the diesel-powered vehicles where there is less space available for insulation materials. They are the most widely used type of automotive coatings adhesives sealants because there is no risk of fire hazards, unlike solvent-based ones. It is an environmentally-friendly type of product. They are also cheaper than solvent-based coatings and require less clean-up when being applied which is an advantage for automobile manufacturers who want to cut costs.
Powder-based automotive coatings adhesives sealants are a type of product that is used for sealing gaps in joints with various rubber seals. A general requirement is to make sure that they have high chemical resistance and durability, as well as be able to withstand changing weather conditions so the surface coating lasts longer without peeling or blistering. In addition, powder-based products need to provide protection against corrosion and create an airtight barrier between two materials which improves insulation inside a diesel vehicle where space might otherwise not accommodate it. As such, these types of coatings can help vehicles perform better at lower costs by reducing fuel consumption rates while also extending engine life cycles. Other benefits include improved aesthetics due to color retention capability (especially for powder-based products).
On the basis of application, the global automotive coatings adhesives sealants market is segmented into OEMs and refinish.
In terms of application, automotive coatings are used most often in the OEM (original equipment manufacturer) segment for a variety of purposes including increased durability and corrosion protection while also enhancing aesthetics to an already well-designed machine. The aim is to make sure that vehicles function properly by providing high levels of performance at a low cost per mile.
These products can be used with refinishing applications where they're applied directly over old surfaces or as base coats on top of previously existing ones without needing to remove them first which saves time and money when compared to traditional methods like sandblasting and painting off the ground up). These types of finishes improve customer satisfaction due to their ability not only to increase aesthetics but also provide durability and other benefits.
On the basis of region, the global automotive coatings adhesives sealants market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The largest share of the global automotive coatings adhesives sealant sales is in North America followed by Europe. North America is the leading market for global automotive coatings adhesives sealants due to its large share of the population, strong economic conditions, and high demand for both domestic as well as imported goods.
North America: The North American region has a major share in the global automotive coatings adhesives sealants market with over 40% of total revenue generated from this region. The U.S., Canada, and Mexico are the key countries driving sales in this region owing to their higher disposable income levels, presence of world-class research & development centers, and established supply chains providing direct access to raw materials at competitive prices.
The North American region is the largest consuming market for automotive coatings adhesive sealants and this trend will continue to grow until 2028. The US has been a key driver of growth in the past but it is now experiencing declining demand due to an aging population, high unemployment rates, low levels of vehicle production & increased competition from other manufacturing industries. While Canada remains one of the most attractive markets owing to its strong economic fundamentals coupled with a rapidly growing economy resulting in higher disposable incomes across all segments including trade unions which drives demand for consumer goods like automobiles.
The Latin American region has emerged as one of the fastest-growing regions for automotive coatings adhesive sealants owing to favorable demographics, high economic growth rates with increasing consumption levels resulting from middle-class expansion. The major countries driving sales in this region are Brazil & Mexico due to their large populations coupled with strong potential for future demand gains driven by population increase and stronger purchasing power.
The growth in the global automotive coatings adhesives sealants market is driven by rising demand for automobiles, increasing number of new car launches, and rising production capacity. Other factors driving this market are an increase in the use of ADHESIVES as well as SEMI-paste-based products to enhance their properties such as UV resistance & water repellency.
Furthermore, driverless cars which need a lot more coating materials than manual cars will also boost the usage of adhesives over time. The other factor spurring the growth for this industry is the modernization of construction equipment like cranes from steel cables to synthetic ropes to reduce maintenance costs per year (USD). This trend will continue until 2030 when it’s forecasted that synthetic ropes will account for a majority of the market share.
Up Market Research published a new report titled “Automotive coatings adhesives sealants Market research report which is segmented by Types (Solvent-based, Water-based, Powder), By Applications (OEMs, Refinish), By Players/Companies AkzoNobel, Axalta Coating, Henkel, PPG, Sherwin-Williams, 3M, Arkema, BASF, DuPont, Huntsman”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
|Report Attributes||Report Details|
|Report Title||Automotive coatings adhesives sealants Market Research Report|
|By Type||Solvent-based, Water-based, Powder|
|By Application||OEMs, Refinish|
|By Companies||AkzoNobel, Axalta Coating, Henkel, PPG, Sherwin-Williams, 3M, Arkema, BASF, DuPont, Huntsman|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||210|
|Number of Tables & Figures||147|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Solvent-based, Water-based, Powder and By Application OEMs, Refinish.
Some of the companies that are profiled in this report are:
Automotive coatings adhesives sealants Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Automotive coatings adhesives sealants Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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