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Global Electric Vehicle Adhesives Market Share, Analysis: By Resin Type: Epoxy, Acrylic, Silicone, Polyurethane, Others; By Form: Film and Tape, Liquid, Others; By Vehicle Type: Battery Electric Vehicles, Plug-in Hybrid Electric Vehicles; By Application: Pack and Module Bonding, Others; Regional Analysis; Competitive Landscape; 2024-2032
Global Electric Vehicle Adhesives Market Outlook
The global electric vehicle adhesives market size reached approximately USD 1.94 billion in 2023. The market is further projected to grow at a CAGR of 21.9% between 2024 and 2032, reaching a value of USD 13.12 billion by 2032.
Key Trends in the Market
Electric vehicle adhesives refer to materials used for sealing and bonding the lid of the battery pack to the body. They offer various advantages as opposed to other alternatives including environmental resistance, joining mis-matched materials, and distributing stress, among others. They also offer ease of application and have the ability to bond low surface energy plastics to composites.
- The rising adoption of electric vehicles owing to increasing fuel prices is boosting the electric vehicle adhesives market growth. Battery electric vehicles and plug-in hybrid electric vehicles offer economic efficiency to the customers as their operational costs are significantly lower as opposed to vehicles that run on traditional fuels.
- Increasing initiatives by various governments towards bolstering the adoption of electric vehicles due to rising environmental concerns is providing lucrative growth opportunities to the market. Governments are also heavily investing towards the installation of EV charging stations, enhancing comfort, and encouraging individuals to adopt electric vehicles.
- The adoption of aggressive marketing and promotional strategies by various companies around the globe to increase the purchase of electronic vehicles is further supporting the market expansion.
Global Electric Vehicle Adhesives Market Analysis
On the basis of type, the market is divided into epoxy, acrylic, silicone, and polyurethane, among others. Based on form, the market is classified into film and tape and liquid, among others. On the basis of vehicle type, the market is segregated into battery electric vehicles and plug-in hybrid electric vehicles.
Based on application, the market is categorised into pack and module bonding, battery cell encapsulation, and thermal interface bonding, among others. On the basis of region, the electric vehicle adhesives market segmentation includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Henkel AG & Co. KGaA
- PPG Industries, Inc.
- 3M Company
- Arkema S.A.
- Parker-Hannifin Corp.
- Sika AG
- Wacker Chemie AG
- Ashland Global Holdings Inc.
- Permabond LLC
- H.B. Fuller Company
- Jowat SE
- Others
Market Share by Application
Pack and module bonding is anticipated to account for a significant electric vehicle adhesives market share. This growth can be attributed to the increasing utilisation of adhesives in the production of electric powertrains due to their ability to offer various benefits including bonding of uncoated metal, lightweight, and bonding of multiple substrates.
Meanwhile, the utilisation of adhesives for thermal interface bonding offers thermal connection and mechanical rigidity along with design flexibility due to the elimination of fasteners.
Market Share by Region
The Asia Pacific accounts for a significant share of market owing to the rising adoption of electronic vehicles by countries such as India and China due to rising environmental concerns. The increasing efforts of various governments in the Asia Pacific to promote the utilisation and production of electric vehicles is boosting the electric vehicle adhesives market demand. The growing efforts of various manufacturers towards increasing the affordability of electric vehicles is further supporting the market expansion in the Asia Pacific.
Competitive Landscape
Henkel AG & Co. KGaA, headquartered in Düsseldorf, Germany, is a chemical manufacturing company that specialises in consumer products and adhesive technologies. Their product portfolio also includes laundry detergents and hair care products.
PPG Industries, Inc., headquartered in Pennsylvania, United States, is one of the leading paint and coating manufacturing companies that was founded in 1883. The company specialises in electric vehicle adhesives, sealants and coatings, and marine coatings, among others.
3M Company is an industrial manufacturing company that was founded in 1902 and is headquartered in Minnesota, United States. The company is dedicated towards providing its customers with durable products including electric vehicle adhesives, warning labels and stickers, and mosquito repellents, among others.
Other electric vehicle adhesives market key players include Arkema S.A., Parker-Hannifin Corp., Sika AG, Wacker Chemie AG, Ashland Global Holdings Inc., Permabond LLC, H.B. Fuller Company, and Jowat SE, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Resin Type |
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| Breakup by Form |
|
| Breakup by Vehicle Type |
|
| Breakup by Application |
|
| Breakup by Region |
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| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Electric Vehicle Adhesives Market Analysis
8.1 Key Industry Highlights
8.2 Global Electric Vehicle Adhesives Historical Market (2018-2023)
8.3 Global Electric Vehicle Adhesives Market Forecast (2024-2032)
8.4 Global Electric Vehicle Adhesives Market by Resin Type
8.4.1 Epoxy
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Acrylic
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Silicone
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Polyurethane
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Others
8.5 Global Electric Vehicle Adhesives Market by Form
8.5.1 Film and Tape
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Liquid
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Others
8.6 Global Electric Vehicle Adhesives Market by Vehicle Type
8.6.1 Battery Electric Vehicles
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Plug-in Hybrid Electric Vehicles
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Electric Vehicle Adhesives Market by Application
8.7.1 Pack and Module Bonding
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Battery Cell Encapsulation
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Thermal Interface Bonding
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Others
8.8 Global Electric Vehicle Adhesives Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Electric Vehicle Adhesives Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Electric Vehicle Adhesives Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Electric Vehicle Adhesives Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Electric Vehicle Adhesives Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Electric Vehicle Adhesives Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Henkel AG & Co. KGaA
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 PPG Industries, Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 3M Company
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Arkema S.A.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Parker-Hannifin Corp.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Sika AG
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Wacker Chemie AG
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Ashland Global Holdings Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Permabond LLC
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 H.B. Fuller Company
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Jowat SE
15.2.11.1 Company Overview
15.2.11.2 Product Portfolio
15.2.11.3 Demographic Reach and Achievements
15.2.11.4 Certifications
15.2.12 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Electric Vehicle Adhesives Market: Key Industry Highlights, 2018 and 2032
2. Global Electric Vehicle Adhesives Historical Market: Breakup by Resin Type (USD Billion), 2018-2023
3. Global Electric Vehicle Adhesives Market Forecast: Breakup by Resin Type (USD Billion), 2024-2032
4. Global Electric Vehicle Adhesives Historical Market: Breakup by Form (USD Billion), 2018-2023
5. Global Electric Vehicle Adhesives Market Forecast: Breakup by Form (USD Billion), 2024-2032
6. Global Electric Vehicle Adhesives Historical Market: Breakup by Vehicle Type (USD Billion), 2018-2023
7. Global Electric Vehicle Adhesives Market Forecast: Breakup by Vehicle Type (USD Billion), 2024-2032
8. Global Electric Vehicle Adhesives Historical Market: Breakup by Application (USD Billion), 2018-2023
9. Global Electric Vehicle Adhesives Market Forecast: Breakup by Application (USD Billion), 2024-2032
10. Global Electric Vehicle Adhesives Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global Electric Vehicle Adhesives Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Electric Vehicle Adhesives Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America Electric Vehicle Adhesives Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Electric Vehicle Adhesives Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe Electric Vehicle Adhesives Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Electric Vehicle Adhesives Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific Electric Vehicle Adhesives Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Electric Vehicle Adhesives Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America Electric Vehicle Adhesives Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Electric Vehicle Adhesives Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa Electric Vehicle Adhesives Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Global Electric Vehicle Adhesives Market Structure
Key Questions Answered in the Report
The market reached a value of approximately USD 1.94 billion in 2023.
The market is projected to grow at a CAGR of 21.9% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 13.12 billion by 2032.
The major market drivers include increasing initiatives by various governments towards bolstering the adoption of electric vehicles due to rising environmental concerns and increasing affordability of electric vehicles.
The key trends fuelling the growth of the market include rising adoption of electric vehicles owing to increasing fuel prices and adoption of aggressive marketing and promotional strategies by various companies.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The applications of electric vehicle adhesives include pack and module bonding, battery cell encapsulation, and thermal interface bonding, among others.
The key players in the market are Henkel AG & Co. KGaA, PPG Industries, Inc., 3M Company, Arkema S.A., Parker-Hannifin Corp., Sika AG, Wacker Chemie AG, Ashland Global Holdings Inc., Permabond LLC, H.B. Fuller Company, and Jowat SE, among others.
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