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Global Automotive Adhesives Market Set to Reach USD 8.45 Billion by 2031, With a Sustainable CAGR Of 6.5% | Growth Market Reports
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, the automotive adhesives market is divided into hot-melt, solvent-based, and water-based. The Hot-melt adhesives' (HMAs) segment is expected to expand at a significant rate as they have a long shelf life resulting in lowered inventory and maintenance costs. The solvent-based segment size is projected to account for a key market share during the forecast period.
the global market is segregated into acrylics, epoxy, cyanoacrylates, polyvinyl acetate, polyurethane, Methyl Methacrylate Adhesives (MMA), Silyl Modified Polymer (SMP), silicone, and others. The epoxy derivatives segment is expected to grow at a significant pace during the forecast period owing to the wide use of epoxy derivatives by manufacturers as they can be heat-cured for adhesion at room temperature and underwater. However, polyurethane is a solvent-based adhesive that is likely to register a considerable CAGR and is expected to drive the market in the forecast period.
the automotive adhesives market is segmented into North America , Europe , Asia Pacific , Latin America , and the Middle East & Africa . The market in Asia Pacific is projected to expand at a significant CAGR during the forecast period due to the increasing demand and usage of automotive adhesives in emerging economies. However, the market in North America is anticipated to expand at a significant CAGR during the forecast period.
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