GIA announces the release of a comprehensive global report on Automotive Adhesives markets. Global market for Automotive Adhesives is projected to reach US$3.1 billion by 2020, driven by growing demand for high-quality assembly materials that help improve vehicle efficiency and performance in conformance to strict government regulations and customer expectations.
San Jose, California (PRWEB) July 03, 2014
Follow us on LinkedIn. Automotive engineering has been witnessing a sea change in vehicle design, control and software. Production techniques together with automotive material technologies have also undergone significant improvements driven by the ever growing consumer demand for quality, aesthetics, comfort, safety, and fuel efficiency. Poised to benefit from the emerging new rigorous performance standards of modern smart automobiles are automotive adhesives, which find ubiquitous use in bonding different automotive parts, components, body joints and panels. With fuel efficiency being the prime design principle for vehicles, the focus is on vehicle weight reduction and in this regard automotive adhesives are increasingly replacing traditional spot welding and bonding technology and techniques.
Automotive adhesives are advanced materials typically made from epoxies that can be customized to bond any surface and endure temperature extremes. Manufacturing of modern cars involves the assembly of diverse mix of materials such as glass, sheet metal, plastics and rubber among others. Adhesives represent the most suitable solution for bonding all these materials. Adhesives are also used in joining composites, plastics and metals. In comparison with traditional welding, adhesives provide numerous engineering benefits including design flexibility. Use of adhesives help vehicle engineers use a range of light weight material such as carbon composites which cannot be bonded through traditional spot welding technology.
The market is expected to benefit from the expanding use of adhesives from structural bonding applications to non-structural applications, such as chassis/brake applications, among others. Non-structural strength adhesives and tapes are therefore poised to witness robust demand in automotive manufacturing. Manufacturers are leveraging benefits of adhesives as bonding technology for achieving greater productivity, reducing costs, improving flexibility in manufacturing process and realizing goals of producing vehicles with high fuel efficiency, lower emissions, and superior durability. Besides the primary fastening functions, adhesives are utilized for sealing, electrical conducting or insulating, reducing vibration, harshness and noise, providing corrosion and temperature resistance, among various other functions. They are widely preferred for direct glazing wherein they increase rigidity of the vehicle body.
As stated by the new market research report on Automotive Adhesives, Asia-Pacific represents the largest as well as the fastest growing market with a CAGR of 6.8% over the analysis period. Continued industrialization, growth in GDP, rising employment levels, improving standard of living, increase in discretionary spends, and development of road infrastructures, represent key factors driving automobile demand in the region. Led by China and India, Asias emergence into a low cost manufacturing hub of automobiles is also expected to spur consumption of automotive adhesives.
Major players in the global market include 3M Company, Arkema Group, Ashland Inc., BASF SE, Bayer AG, Bemis Associates Inc., Bondo Corporation, Bostik S.A., Cytec Industries Inc., Dow Corning Corporation, E. I. DuPont de Nemours and Company, EMS-Chemie Holding AG, H.B. Fuller Company, Henkel AG & Co. KGaA, Huntsman Corporation, Illinois Tool Works Inc., ITW Polymers Sealants North America, Lord Corporation, Nippon Paint Co. Ltd., Nitto Denko Corporation, Permatex Inc., Royal Adhesives & Sealants, RPM International Inc., The Dow Chemical Company, ThreeBond Company Limited, Transtar Autobody Technologies Inc. and Wacker-Chemie AG.
The research report titled Automotive Adhesives: A Global Strategic Business Report announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of major companies worldwide. The report provides market estimates and projections for all major geographic markets such as the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, South Korea and Rest of Asia-Pacific), Latin America (Brazil, Mexico and Rest of Latin America) and Rest of World.
For more details about this comprehensive market research report, please visit http://www.strategyr.com/Automotive_Adhesives_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Web Site: http://www.StrategyR.com/
For the original version on PRWeb visit: http://www.prweb.com/releases/automotive_adhesives/phenolic_adhesives_market/prweb11995180.htm