“The report on Electric Vehicle Adhesives Market was recently published by SDKI, which includes the latest market trends, current and future opportunities along with the factors that are driving the growth of the market. This report further encompasses the records for the expansion of the market along with information on the investment opportunities that help the clients to take positive decisions on the parameters for gaining profitable revenues. Moreover, the report also contains identification and investigation of the market structure, in-depth qualitative analysis, restraints & challenges, growth drivers, emerging product trends & market opportunities and Porter’s five forces.

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Electric Vehicle Adhesives Market: Overview

• Adhesives can help make an electric vehicle lightweight. Electric vehicle adhesives are ideal replacements for mechanical fasteners in electric vehicle batteries. Electric vehicle adhesives offer several benefits such as even distribution of stress and load across bonded joints; improvement of strength; and efficient and flexible part design.
• Adhesives reduce or sometimes replace heavy mechanical fasteners in electric vehicle battery design. This enables to improve the efficiency of electric vehicles.

Key Growth Drivers of Electric Vehicle Adhesives Market

• The automotive industry is continually working toward designing lightweight and fuel-efficient vehicles, which can reduce CO2 emissions significantly. Stringent regulations regarding CO2 emissions are being implemented across the globe. Electric vehicle adhesives play an important role in reducing CO2 emissions. These adhesives provide vehicles with structural strength. They possess the ability to bond various surfaces together.
• Electric vehicle adhesives make vehicles lighter, quieter, and safer compared to mechanical fastening methods such as welding, bolting, and soldering. Structural adhesives are known to distribute load evenly across a surface, resulting in better efficiency compared to mechanical fastening, which generates local stress in parts joined. Currently, around 15 kg of adhesives are used in a car on an average. This amount is likely to increase in the next few years.
• Electric vehicle adhesives are also employed in interiors, exteriors, and engine compartments of aircraft, due to their advantages over other types of adhesives. These adhesives carry higher weight loads and improve uniform distribution of the stress and strain across the joints. Electric vehicle adhesives also maintain integrity and strength of materials, as there is no hole, rivet, or fastening element to weaken the structure. These factors are anticipated to boost the demand for electric vehicle adhesives across the globe during the forecast period.
• Adhesives and sealants also play a significant role in body construction, paint, and vehicle assembly of hybrid and battery electric vehicles. Decreasing the weight of electric vehicles helps extend their range. Therefore, OEMs put significant effort into lowering the weight of components of the body, interior, and powertrain.

Major Challenges for Electric Vehicle Adhesives Market

• According to the Open Charge Map, a global public registry of electric vehicle charging location, about 150,000 charging stations are present across 75,000 locations around the world. Furthermore, more than 1 million electric cars were sold in 2017, according to the IEA Global Electric Vehicle (EV) Outlook 2018; China accounting for more than 50% of global sales. Thus, the ratio of on-road electric vehicles to that of charging stations is low. The number of charging stations installed in developing regions such as Latin America and Middle East & Africa is less compared to that in developed regions. This is expected to hamper the sale of electric vehicles, thereby adversely affecting the demand for electric vehicle adhesives.

Lucrative Opportunities for Electric Vehicle Adhesives Market

• The automotive industry is a key end user of electric vehicle adhesives. Demand for electric vehicle adhesives has been increasing due to the rise in requirements by automakers. For instance, these adhesives are employed in bonding similar and dissimilar materials; and substitution of traditional substrate materials by synthetic substrates. Increase in focus on environmental concerns is also boosting the demand for electric vehicle adhesives. Electric vehicle adhesives also address issues regarding engineering and design, as they are valued for their ability to resist vibration. They are also lightweight and help distribute stress over a wide area.
• Adhesives and sealants play a vital role in the advancement of vehicle electrification technology. They are estimated to remain at the forefront of the development of hybrid (HEV) and battery electric (BEV) vehicle battery cells, modules, packs, and motors.

Asia Pacific to Dominate Electric Vehicle Adhesives Market

• In terms of value and volume, Asia Pacific dominated the global electric vehicle adhesives market with 58.9% share in 2018. The region is likely to remain highly lucrative during the forecast period, due to rapid industrialization and rise in demand for these adhesives in the automotive industry.
• The electric vehicle adhesives market in China, South Korea, and Japan is expanding at a rapid pace in Asia Pacific, owing to growth of industries such as construction, automobile, and electronic appliances in these countries. For instance, China, South Korea, and Japan produced nearly 37 million units of lightweight vehicles in 2023.
• China constitutes key share of the electric vehicle adhesives market in Asia Pacific. The market in the country is expected to expand at a significant pace in the near future. Demand for electric vehicle adhesives has been increasing in India and China, owing to significant expansion of infrastructure and construction sectors in these countries. India is estimated to invest substantially in the development of infrastructure in the near future. Countries across the globe are exhibiting considerable interest in investing in India, especially in the automotive sector in the country.

Polyurethane Resins to Witness High Demand

• In terms of resin, the polyurethane segment held major share of the global electric vehicle adhesives market in 2023. The segment is anticipated to continue its dominance during the forecast period, due to cost-efficient and fast-curing nature of urethanes. Furthermore, they provide strong bonding to larger areas, which offers them competitive advantage over other types of resins such as epoxy, silicone, and acrylics.
• Polyurethane electric vehicle adhesives are characterized by excellent adhesion to smooth and porous surfaces. As a result, they effectively bind various materials such as wood, paper, cardboard, and sandwich panels. Polyurethane electric vehicle adhesives form strong and durable bonds with several types of substrates. Some of the notable properties of urethane systems are high flexibility, abrasion resistance, superior physical strength, and gap-filling capabilities. The cost of these adhesives is also low. They are preferable in applications such as automotive and construction due to their elastic bonding.

Leading Players Actively Engage in Joint Ventures and R&D Activities

• Key players operating in the global electric vehicle adhesives market include
  • 3M
  • Henkel AG & Company
  • KGaA
  • H.B. Fuller
  • DuPont de Nemours, Inc.
  • Arkema S.A.
  • Permabond LLC
  • Ashland Inc.
  • LORD Corporation
  • PPG Industries, Inc.
  • Avery Dennison Corporation
  • Evonik Industries AG
  • Illinois Tool Works Inc.
  • Dymax Corporation
  • Wacker Chemie AG
  • Sika AG.
• These companies actively engage in expansions, mergers & acquisitions, and joint ventures in order to maintain their share in the global electric vehicle adhesives market
• In January 2018, Henkel AG & Co. KGaA opened a new innovation center in Bintaro Jaya, Indonesia, under its adhesive technologies segment. It is the first adhesive innovation center in Asia Pacific. The center aims to deliver innovations and high-impact solutions to adhesives, sealants, and functional coatings industries in Indonesia and across Southeast Asia. In line with this, the center is expected to partner with customers to develop new products and improve productivity and reliability of their production facilities.

Electric Vehicle Adhesives Market – Scope of the Report

The latest study analyzes the historical and present-day scenario of the global Electric Vehicle Adhesives market to accurately gauge its future development. The study presents detailed information about the important growth factors, restraints, and key trends that are creating the landscape for the future growth of the electric vehicle adhesives market to identify the opportunistic avenues of the business potential for stakeholders. The report also provides insightful information about how the electric vehicle adhesives market will progress during the forecast period of 2023-2033.

The report offers intricate dynamics about the different aspects of the electric vehicle adhesives market that aids companies operating in the market in making strategic development decisions. The study also elaborates on the significant changes that are highly anticipated to configure the growth of the electric vehicle adhesives market during the forecast period. It also includes a key indicator assessment to highlight the growth prospects of the electric vehicle adhesives market, and estimate statistics related to the market progress in terms of value (US$ Mn) and volume (tons).

This study covers a detailed segmentation of the electric vehicle adhesives market, along with key information and a competitive outlook. The report mentions the company profiles of key players that are currently dominating the electric vehicle adhesives market, wherein various development, expansion, and winning strategies practiced and executed by leading players have been presented in detail.

For more information about this report visit: Electric Vehicle Adhesives Market“

Key Questions Answered in the Report on Electric Vehicle Adhesives Market

The report provides detailed information about the electric vehicle adhesives market on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth potential of the market. Information mentioned in the report answers path-breaking questions for companies that are currently functioning in the market and are looking for innovative ways to create a unique benchmark in the electric vehicle adhesives industry so as to help them make successful strategies and take target-driven decisions.

• Which form of electric vehicle adhesives will emerge as a major revenue generator for the market during the forecast period?
• How are key market players successfully earning revenue out of the advantages of electric vehicle adhesives?
• What will be the Y-o-Y growth of the electric vehicle adhesives market between 2023-2033?
• What are the winning imperatives of market frontrunners in the electric vehicle adhesives market?

Research Methodology – Electric Vehicle Adhesives Market

The research methodology adopted by analysts for combining the electric vehicle adhesives market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the industry-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the electric vehicle adhesives market.

During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through the interviews of genuine resources, analysts have emphasized the changing scenario of the electric vehicle adhesives market.

For secondary research, analysts scrutinized numerous annual report publications, white papers, industry association publications, and company websites to obtain the necessary understanding of the electric vehicle adhesives market.

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About SDKI:

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count ( SDKI ) provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.

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