The mushrooming usage of adhesives and sealants in the German automotive industry is the major factor responsible for their booming sales in the country. These adhesives and sealants are being increasingly used in the manufacturing of several automotive parts and components in the country, primarily because of their higher resistance to moisture and strong bonding capability. In addition, they also offer higher flexibility, good impact resistance, and durability than the conventionally used adhesives and sealants.
Moreover, epoxy adhesives and sealants are being extensively used in the manufacturing of headlights and signal lights and also in the bonding of automobile bumpers. As Germany is one of the largest exporters and manufacturers of automobiles, the sales of adhesives and sealants are shooting up in the country. Besides, the surging deployment of electric vehicles, on account of the implementation of various vehicle electrification policies by the government and the increasing environmental concerns, is also creating lucrative growth opportunities for adhesive and sealant producers in the country.
For instance, the German government provided various tax and financial incentives to automobile manufacturers to reduce the price of electric vehicles, which helped it achieve its objective of electrifying 1 million cars in the country by 2020. This subsequently caused the expansion of the German automotive adhesives and sealants market. Furthermore, with the soaring sales of commercial vehicles and passenger cars in the country, the revenue of the market will rise from $891.8 million in 2017 to $1,156.8 million by 2023.
In Germany, the enactment of regulatory policies aimed at replacing the traditional adhesives and sealants with environment-friendly solutions that have lower quantity of polluting materials such as volatile organic compounds and exhibit excellent adhesion characteristics, is becoming a major trend. Due to these policies, the usage of eco-friendly water-based acrylic adhesives in place of solvent-based adhesives is soaring in the country. These adhesives are being increasingly used in the production of instrument panel dashboards and trim parts of automobiles in the country.
Hence, it can be said without any hesitation that the use of adhesives and sealants in the German automotive industry will shoot up in the coming years, primarily because of their ability to reduce the weight of vehicles and impart higher durability and impact resistance to automobiles.
Read More: https://www.psmarketresearch.com/market-analysis/germany-automotive-adhesives-and-sealants-market
