How is Growing Demand for Higher Vehicular Safety Boosting Sales of Automotive Adhesives and Sealants?

Automotive adhesives and sealants are rapidly becoming the latest buzzwords in the automotive industry. The mushrooming requirement for luxury vehicles and the rapid incorporation of advanced driver assistance systems in both commercial vehicles and passenger cars are pushing up the demand for automotive adhesives and sealants, especially in North America. Moreover, the ballooning popularity of lightweight vehicles, on account of their high fuel efficiency, is causing a steep rise in the sales of these materials across the world.

Due to the above-mentioned factors, the demand for automotive adhesives and sealants are surging sharply all over the world. This is subsequently fueling the expansion of the global automotive adhesives and sealants market. As a result, the value of the market is predicted to surge from $7,438.2 million in 2019 to $12,646.8 million by 2030. According to various estimates, the market would advance at a CAGR of 7.0% from 2020 to 2030.

To learn more about this report: https://bit.ly/367xpl5

Globally, the automotive adhesives and sealants market would register the fastest growth in Asia-Pacific (APAC) in the future years, as per the forecast of P&S Intelligence, a market research company based in India. This would be due to the surging investments being made by several European automakers for expanding their operations in the Southeast Asian market. Additionally, the soaring disposable income of people in the developing countries will further boost the market advancement in the region in the coming years.

Hence, it is safe to say that the sales of automotive adhesives and sealants would explode all over the world in the coming years, mainly because of the rising demand for lightweight vehicles and the growing requirement for higher vehicular safety.

Read more: https://www.psmarketresearch.com/market-analysis/global-automotive-adhesive-and-sealant-market

Read More

What are the historical size and the present size of the automotive adhesives and sealants market segments and their future potential?

Rising lightweight vehicle demand and growing automobile production are some of the prime factors behind the progress of the automotive adhesives and sealants market. In 2017, the market attained a size of $8,413.7 million, and it is predicted a reach $11,871.6 million by 2023, progressing at a CAGR of 6.0% during the forecast period (2018–2023). Adhesives and sealants are used for different bonding and sealing applications in the automotive industry, whereby they help in enhancing the performance, driving comfort, and safety of vehicles

Get a Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/global-automotive-adhesive-and-sealant-market/report-sample

The use of adhesives and sealants also helps in improving the safety of automobiles. According to the World Health Organization, about 1.35 million people die due to traffic accidents every year. To deal with factors like this, vehicle safety standards and regulations are becoming stricter worldwide. For example, The European New Car Assessment Programme (Euro NCAP) offers consumers information on the safety of new cars.

The organization provides an independent assessment of the safety level for the cars that are sold in Europe. Initiatives such as this certainly help customers take an informed decision on which model to purchase. Such vigilance is compelling automotive manufacturers to focus on improving the safety level of vehicles. Because adhesives and sealants provide integrity to the bonnet and boot and are capable of absorbing the impact of head-on collisions, their use for manufacturing better, lightweight, and safe vehicles is increasing.

Make Enquiry Before Purchase @ https://www.psmarketresearch.com/send-enquiry?enquiry-url=global-automotive-adhesive-and-sealant-market

The use of adhesives and sealants in electric vehicles is quite low owing to their less engine parts. But the rising focus on structural integrity along with the desire to decrease the overall vehicle weight is anticipated to escalate the usage for these materials during the forecast period, thereby resulting in automotive adhesives and sealants sector growth. 

Further, automobile manufacturers are looking for ways to produce the lightest vehicle to maximize the power and speed. Manufacturers are using lightweight materials such as composites, plastics, and aluminum in place of steel for producing auto parts. These materials can’t be bolted or welded to keep the vehicle parts together, and therefore adhesives and sealants are extensively used by the manufacturers. Thus, the surging production and sales of lightweight vehicles is predicted to accelerate the growth of the automotive adhesives and sealants sector during the forecast period.

Read More