The Automotive Adhesives Market size is projected to grow from USD 8.1 billion in 2019 to USD 10.7 billion by 2024, at a CAGR of 5.7%, during the forecast period. The market is witnessing a moderate growth due to the and a present slowdown in the demand in the automotive industry and growing use of automotive adhesives.

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Polyurethane resins are expected to lead the automotive adhesives market during the forecast period
Polyurethane adhesives have a high demand in the automotive adhesives market due to their excellent properties such as high elongation properties and stronger bonding. These are used in bonding windscreens, side and rear windows of passenger cars, trucks, and special vehicles. They are also used for bonding fiberglass reinforced plastic elements, such as roof, side, and front panels. These adhesives also have a competitive advantage over silicone products as they can be easily painted, and offer a fissure-free coated surface for an extended period.

APAC is expected to account for the largest market share during the forecast period.
The APAC automotive adhesives market is expected to drive the global industry growth during the forecast period, 2019 to 2024, which can be attributed to the rising demand for the product from economies such as India, China, South Korea, Indonesia, and Thailand among others. Moreover, factors such as the improving standards of living and rising per capita incomes in these countries are also fueling the growth of the Asia Pacific; thus, automotives thus for automotive adhesives.

SMP is the fastest-growing resin type of the automotive adhesives market.
Silane modified polymer adhesives have a smaller market share compared to other types. However, the market for this segment is projected to grow at the highest rate due to stringent environmental regulations on other adhesives in the market. These regulations prohibit the use of highly toxic solvents which have VOC emissions. As SMP adhesives are odorless, free of isocyanates and solvents, and emit no VOCs, their demand is expected to increase. The automotive & transportation industry continuously demands more advanced and improved bonding adhesives which offer excellent adhesion, superior durability, chemical & temperature resistance, and low shrinkage.

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Key Market Players
The key companies profiled in this report are the Henkel (Germany), Arkema (Bostik) (France), 3M (US), Dupont (US), H.B. Fuller (US), Sika (Switzerland), and Huntsman (US).

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