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Global Electric Vehicle Adhesives Market Report and Forecast 2024-2032
Market Report I 2024-04-16 I 179 Pages I EMR Inc.
Global Electric Vehicle Adhesives Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the global electric vehicle adhesives market size reached a value of USD 1.94 billion in 2023. Aided by the escalating demand for electric vehicles (EVs) across various regions and the advanced adhesion requirements for lightweight and safety components, the market is projected to further grow at a CAGR of 21.9% between 2024 and 2032 to reach a value of USD 13.12 billion by 2032.
Electric vehicle adhesives are specialised materials formulated to meet the unique needs of electric vehicle manufacturing, including battery pack assembly, structural bonding, and thermal management. These adhesives are crucial for enhancing vehicle efficiency by reducing weight, improving safety, and increasing the reliability of electric vehicles.
The significant expansion of the electric vehicle adhesives market is primarily driven by the global shift towards electric mobility, spurred by increasing environmental concerns and stringent government regulations on emissions. The rise in consumer awareness regarding the benefits of electric vehicles, including lower running costs and reduced carbon footprints, has also contributed to the surge in demand for EVs, subsequently boosting the demand for EV adhesives.
As per the electric vehicle adhesives market analysis, the ongoing technological advancements in adhesive formulations that offer enhanced performance characteristics such as increased thermal resistance, improved conductivity, and higher durability under harsh conditions are pivotal in driving the market growth. These innovations enable the production of more efficient and longer-lasting electric vehicles.
The advancement of autonomous driving technology is influencing the electric vehicle market. As per the electric vehicle adhesives market outlook, adhesives are being used to assemble and secure critical components in autonomous vehicles, including sensors and cameras, which require reliable performance under various environmental conditions.
The market is witnessing a trend towards the use of eco-friendly and sustainable adhesives. Manufacturers are increasingly focusing on the development of bio-based adhesives to reduce environmental impact and comply with international safety and environmental regulations.
Additionally, the electric vehicle adhesives market growth is seeing an inclination towards structural adhesives that offer superior bonding strength and can replace traditional mechanical fasteners, thereby reducing vehicle weight and enhancing fuel efficiency. The adoption of multi-material design strategies in electric vehicle manufacturing, which requires effective adhesion between different types of materials, further propels the demand for sophisticated adhesive solutions.
In recent years, major players in the adhesives sector have launched several innovative products designed specifically for electric vehicles which can also influence the electric vehicle adhesives market expansion. These products are aimed at improving the assembly efficiency and performance of EVs. For instance, new thermally conductive adhesives have been developed for better heat management in battery packs, which are critical for the safety and efficiency of electric vehicles.
As the automotive sector focuses on enhancing fuel efficiency and range, there is a rising demand for lightweight materials. Adhesives play a critical role in enabling the use of lighter, non-metallic materials without compromising the structural integrity of electric vehicles. This trend is driving the development of new adhesives that can bond a diverse range of materials, such as composites and plastics, effectively reducing overall vehicle weight.
The market has also experienced strategic collaborations and expansions by key market players aiming to enhance their market presence and meet the growing global demand which can contribute to the electric vehicle adhesives market share. These partnerships are often focused on improving product portfolios and expanding the geographical reach of existing solutions.
Asia Pacific dominates the market, driven by the high production volumes of electric vehicles in countries like China, Japan, and South Korea. Europe and North America also hold significant shares, supported by robust governmental initiatives promoting electric vehicle adoption and advanced technological infrastructure.
Market Segmentation
The market can be divided based on resin type, form, vehicle type, application, and region.
Market Breakup by Resin Type
- Epoxy
- Acrylic
- Silicone
- Polyurethane
- Others
Market Breakup by Form
- Film and Tape
- Liquid
- Others
Market Breakup by Vehicle Type
- Battery Electric Vehicles
- Plug-in Hybrid Electric Vehicles
Market Breakup by Application
- Pack and Module Bonding
- Battery Cell Encapsulation
- Thermal Interface Bonding
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global electric vehicle adhesives market. Some of the major players explored in the report by Expert Market Research are as follows:
- 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
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual 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
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