APAC Automotive Adhesives and Sealants Market And its Growth prospect in the Near Future
The Asia-Pacific (APAC) automotive adhesives and sealants domain is being positively influenced by the use of lightweight materials in vehicle manufacturing, which is on the rise. Automotive adhesives and sealants improve the driving comfort, reliability, safety, and performance of vehicles, which is why they are excessively used in the automotive sector.
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As lighter vehicles are able to achieve higher speeds as compared to heavier vehicles with engines of comparable power, steel and iron are being replaced with lightweight substitutes, such as plastic, composites, and aluminium. To form a strong structure, adhesives and sealants are used, as lightweight components cannot be bolted or welded. Another aspect aiding in the domain growth is the increasing vehicle production in India, China, and Malaysia. Organisation Internationale des Constructeurs d’Automobiles mentions that China is the biggest auto-producing nation in the world. Therefore, the APAC automotive adhesives and sealants domain is predicted to prosper further.
China was the largest revenue generating country, with a share of more than 50.0% in the APAC automotive adhesives and sealants market in 2017. The country is an emerging economy and is largest in terms of purchasing power parity, the second-largest economy in terms of nominal GDP, and one of the largest exporters of adhesives and sealants to many countries.
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Due to the rising environmental concerns, the companies are developing bio-based adhesives and sealants to replace chemical based adhesives and sealants. In order to enhance the sustainability efforts without compromising performance, the companies are developing bio-based adhesives and sealants. For example, DowDuPont Inc. developed RENUVA technology for adhesives and sealants, which offers benefits that covers various applications in the adhesives and sealants marketplace, including improved water resistance, high flexibility, and good adhesion on a variety of substrates. Hence, it is expected to create opportunities for the industry players operating in the APAC automotive adhesives and sealants market.
Automobile manufacturers are exploring the ways to create lightest vehicle possible to maximise the speed and power of the vehicle. Lightweight materials being used by the automotive industry include plastic, composites, and aluminum, which are replacing the use of steel by automotive manufacturers. To maintain the integrity of lightweight vehicles, the adhesives and sealants is increasingly used by the automotive manufacturers in the region.