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Electric Vehicles Adhesives Market Size, Industry Analysis Report by Vehicle Type(Electric Carm, Electric Bus, Electric Bike, Electric Truck), by Resin Type(Epoxy, Polyurethane, Silicones, Cyanoacrylate, Acrylics), by Substrate(Plastic, Composite, Metals), by Form(Liquid, Film, Tape), by Application(Powertrain, Hybrid Electric Vehicle, Exterior, Interior, Pack & Module Bonding, Battery Cell Encapsulation) & Region - Forecasts

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Medical Plastics Market Size, Share and Global Industry Trend Forecast till 2026

PUBLISHED ON

: Aug, 2020
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: 100
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Global Electric Vehicles Adhesives Market- Description

In the modelling or formation of electric vehicle batteries, these adhesives can be used to substitute or eliminate the use of heavy mechanical fasteners. They enable a lighter ad a thinner bond for many battery components, that might improve EV range, as well as the ability to attach different materials more quickly and with greater flexibility and strength than basic bolts and nuts. Adhesives are designed to connect parts like battery cells, cooling plates with greater precision and battery module side panels. According to COP26 declaration in 2021, investors with significant shareholdings in automotive manufacturing will support an accelerated transition to zero emission vehicles in line with achieving 100% new car and van sales. Increasing vehicle production along with government initiatives to promote the production and adoption of electric vehicles (EV), and the growing investment across the automotive industry and R&D activities to enhance the adhesion capabilities are leading to growth of the industry.

IMG1

Source: WMR

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Global Electric Vehicles Adhesives Market- Overview

The global electric vehicles adhesives market size was valued at USD 7.76 Million in 2022 and is anticipated to grow at a compound annual growth rate CAGR of 5.9%, reaching a value of USD 12.27 Million in 2033.

The growth of the market is attributed to the increasing initiatives by the governments of various nations to promote the adoption and production of electric vehicles. Amongst the several other initiatives, Electric Vehicles Initiative (EVI) was a multi-government policy forum that was launched by the Clean Energy Ministerial for accelerating the adoption and introduction of electric vehicles across the globe. Considering environmental issues like global warming, it became essential to take preventive measures and act on reducing carbon footprints through harmful emissions on earth. Along with increasing production of electric vehicles, the market growth can be signified to the shift in trend from welding and metal fasteners to adhesives, since the latter contributes significantly to weight savings and lower carbon emissions.

IMG2

Source: WMR

Global Electric Vehicles Adhesives Market Key Trends:

�� High-Demand for Automotive Adhesives

The demand for automotive adhesives mainly driven by China and India. According to the China Adhesive Association, China is the world's leading market for adhesives, in terms of production and demand, as large number of vehicles are manufactured in the country. Japan has become the second-largest market for automotive adhesives in the APAC region. In India, the �Make in India� movement is acting as aa backbone in the growth of the automotive adhesives market.

There is a high demand for automotive adhesives, driven by the increasing use of adhesives in the automotive industry. Adhesives offer several advantages over traditional mechanical fasteners, such as screws and bolts. They can distribute stress evenly over a wider area, reducing the risk of fatigue and failure. Adhesives also provide improved corrosion protection, reduce weight, and improve aesthetics. In addition, the automotive industry is shifting towards electric vehicles, which require different types of adhesives than traditional gasoline-powered vehicles. Electric vehicles require adhesives with higher thermal conductivity to dissipate heat generated by the battery and power electronics. Adhesives are also used extensively in the production of autonomous vehicles, which are expected to see rapid growth in the coming years. Moreover, the increasing demand for lightweight materials in the automotive industry, such as carbon fiber composites, requires new adhesives that can bond these materials effectively. As a result, the automotive adhesives market is expected to continue growing in the coming years.

�� Volatility in the Raw Material Prices

The availability and cost of raw materials are the key factors in the industry of adhesive manufacturers for calculating the price structure of their products. Raw materials used by the adhesive industry includes plastic resins, refined petroleum products, inorganic chemicals and industrial inorganic chemical. Much of the raw materials are petroleum-based derivatives and are very vulnerable to fluctuations in commodity prices. Crude oil prices have become highly volatile.

Impact of COVID on Global Electric Vehicles Adhesives Market

COVID-19 has drastically impacted on various financial and industrial sectors, such as manufacturing, and aviation and travel and tourism. The increasing number of countries imposing and extending lockdowns, led to decline in economic activities and also further led to the decline in the market growth. The economy became substantially more interconnected. Thus, COVID-19 pandemic changed the dynamics of the market. The global electric vehicles adhesives market has been significantly affected by the COVID-19 pandemic both in the short and long term. The pandemic has caused disruptions in the supply chain which has impacted the availability of raw materials and finished products, leading to delays in production and shipping. Moreover, the pandemic has resulted in reduced demand for electric vehicles and their components, including adhesives, due to financial impacts and hesitancy towards large purchases. There has also been a shift in consumer preferences towards traditional gasoline-powered vehicles which has further impacted the demand for electric vehicle adhesives. Despite these challenges, many governments have continued to support the electric vehicle industry through policies and incentives. In the long term, the electric vehicle adhesives market is expected to grow due to increasing demand and initiatives aimed at reducing carbon emissions. However, the pandemic has highlighted the need for resilient supply chains and adaptable companies.

Segmentation of the Global Electric Vehicles Adhesives Market

Key Players:

�� Arkema S.A.,

�� Ashland Inc.,

�� Avery Dennison Corporation,

�� Bostik S.A. (An Arkema Company) Delo Industrie Klebstoffe GmbH & Co. KGaA,

�� DuPont de Nemours, Inc.,

�� Dymax Corporation,

�� Evonik Industries AG,

�� H.B. Fuller Company,

�� Henkel AG & Co. KGaA,

�� Illinois Tool Works Inc.,

�� Jowat Se,

�� KGaA, L&L Products, LORD

Segmentation on the basis of Resin Type

�� Polyurethane

�� Epoxy

�� Silicones

�� Acrylics

�� Cyanoacrylate

�� Others

Polyurethane segment holds the highest market share due to its increasing use in the electric vehicles, as it connects to different materials in the cars.

Segmentation on the basis of Form

�� Liquid

�� Film

�� Tape

�� Others

Among these, liquid segment holds the highest market share. Liquid adhesives are highly recommended for the ability to form a long-lasting and strong bind with cotton and polymers. In fact, they're commonly seen in the interiors of electric vehicles. Liquid adhesives also help in the improvement of durability and optical properties.

IMG3

Source: WMR

Segmentation on the basis of Substrate

�� Plastic

�� Composite

�� Metals

�� Others

Here, the plastic segment holds a huge market share because plastics are proven to provide efficiency and long term effectiveness to electric vehicles.

Segmentation on the basis of Application

�� Powertrain

�� Exterior

�� Hybrid electric vehicle

�� Interior

�� Pack & Module bonding

�� Battery Cell Encapsulation

�� Others

Exterior segment is expected to become the largest market share. The exterior parts are in high demand because are required in high quantity.

Segmentation on the basis of Vehicle Type

�� Electric Car

�� Electric Bus

�� Electric Bike

�� Electric Truck

�� Others

The light motor vehicle holds the largest market share as a result of its growing application in different sectors. The demand for light motor vehicles is growing at an excellent rate. The government's tough policies on electric mobility have hiked the rise of the light motor vehicle.

Segmentation on the basis of Region

Asia Pacific is seeing the fastest growth and will hold the largest market share among all other regions. China has been the world's leading manufacturer of electric automobiles.

Competitive Landscape

Arkema S.A., Ashland Inc., Avery Dennison Corporation, Bostik S.A. (An Arkema Company) Delo Industrie Klebstoffe GmbH & Co. KGaA, DuPont de Nemours, Inc., Dymax Corporation, Evonik Industries AG, H.B. Fuller Company, Henkel AG & Co. KGaA, Illinois Tool Works Inc., Jowat Se, KGaA, L&L Products, LORD Corporation, Lord Corporation, Metlok Private Limited, Permabond LLC, Permabond LLC., Ppg Industries, PPG Industries, Inc., Ried B.V., Sika AG., Wacker Chemie AG, OthersHenkel, Arkema, Huntsman, Sika, H.B. Fuller.

Scope of Report:

Historical Years- 2020-2021

Forecast Years- 2023-2033

Global Electric Vehicle Adhesives Market USD value in 2022- USD 7.76 Million

Global Electric Adhesive Market USD value in 2033- USD 12.27 Million

Global Electric Adhesive Market CAGR- 5.9%

Segments Covered- Resin, Vehicle, Region and Application

Region Covered- North America (US, Canada), Europe (UK, Germany, Spain, Italy, France), �Asia-pacific (India, South Korea, China, Japan, Australia), Latin America (Mexico, Brazil), Middle East and Africa (UAE, Saudi Arabia, South Africa)

1. Global Electric Vehicles Adhesives Market Introduction and Market Overview

1.1. Objective of the Market Research Study

1.2. Electric Vehicles Adhesives Market Definition & Description

1.3. Research Data Parameters & Reporting Timelines

1.3.1. Historical Data Reporting Years � 2020 to 2021

1.3.2. Projected Data Reporting Years � 2023 to 2033

1.3.3. Reporting Data Parameters � Value (US$ Million) & Volume (Kilo Tons)

1.4. Global Electric Vehicles Adhesives Market Scope and Market Estimation

1.4.1. Global Electric Vehicles Adhesives Overall Market Size (US$ Million) & (Kilo Tons), Market CAGR (%), Market Estimates & Forecast (2020 to 2033)

1.4.2. Global Electric Vehicles Adhesives Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2020 to 2033

1.5. Electric Vehicles Adhesives Market Segmentation

1.5.1. Vehicle Type of Global Electric Vehicles Adhesives Market

1.5.2. Resin Type of Global Electric Vehicles Adhesives Market

1.5.3. Substrate of Global Electric Vehicles Adhesives Market

1.5.4. Form of Global Electric Vehicles Adhesives Market

1.5.5. Application of Global Electric Vehicles Adhesives Market

1.5.6. Key Regions of Global Electric Vehicles Adhesives Market

2. Global Electric Vehicles Adhesives Market - Executive Summary

2.1. Global Electric Vehicles Adhesives Market � Summary & Snapshot

2.2. Global Electric Vehicles Adhesives Market, By Vehicle Type (US$ Million) & (Kilo Tons)

2.3. Global Electric Vehicles Adhesives Market, By Resin Type (US$ Million) & (Kilo Tons)

2.4. Global Electric Vehicles Adhesives Market, By Substrate (US$ Million) & (Kilo Tons)

2.5. Global Electric Vehicles Adhesives Market, By Form (US$ Million) & (Kilo Tons)

2.6. Global Electric Vehicles Adhesives Market, By Application (US$ Million) & (Kilo Tons)

2.7. Global Electric Vehicles Adhesives Market, By Geography (US$ Million) & (Kilo Tons)

2.8. Global Electric Vehicles Adhesives Market Outlook & Future Opportunities

3. Electric Vehicles Adhesives Market Trends, Outlook, and Factors Analysis

3.1. Global Electric Vehicles Adhesives Market Industry Development Trends under COVID-19 Outbreak

3.1.1. Global COVID-19 Status Overview

3.1.2. Influence of COVID-19 Outbreak on Global Electric Vehicles Adhesives Market Industry Development

3.1.3. Pre & Post COVID-19 Trends and Scenarios

3.2. Market Dynamics (Growth Impacting Factors & Rationales)

3.2.1. Drivers

3.2.1.1. Supportive government work frame

3.2.1.2. Focus on light weight and fuel efficient EVs

3.2.1.3. Strict action against carbon monoxide-releasing vehicles.

3.2.1.4. Driver 4

3.2.1.5. Driver 5

3.2.2. Restraints

3.2.2.1. High Cost of Electric vehicles

3.2.2.2. Limited charging point

3.2.3. Opportunities

3.2.3.1. Growth potential for self-driving electric vehicles

3.2.3.2. Low-cost labour in many regions can provide important asset opportunities for businesses

3.2.3.3. Opportunity 3

3.2.4. Impact Analysis of Drivers and Restraints

3.3. Ecosystem/ Value Chain Analysis

3.4. Porter�s Five Forces Analysis

3.5. SWOT Analysis

3.6. PEST Analysis

3.7. Average Selling Prices and Pricing Trends Analysis of Electric Vehicles Adhesives Market

3.8. Technological Roadmap

3.9. Key Investment Pockets of Electric Vehicles Adhesives Market

3.9.1. By Vehicle Type

3.9.2. By Resin Type

3.9.3. By Substrate

3.9.4. By Form

3.9.5. By Application

3.9.6. By Regions

4. Global Electric Vehicles Adhesives Market: Estimates & Historic Trend Analysis (2020 to 2021)

4.1. Global Electric Vehicles Adhesives Market, 2020 � 2021 (US$ Million) & (Kilo Tons)

4.2. Global Electric Vehicles Adhesives Market, By Vehicle Type, 2020 to 2021 (US$ Million) & (Kilo Tons)

4.3. Global Electric Vehicles Adhesives Market, By Resin Type, 2020 to 2021 (US$ Million) & (Kilo Tons)

4.4. Global Electric Vehicles Adhesives Market, By Substrate, 2020 to 2021 (US$ Million) & (Kilo Tons)

4.5. Global Electric Vehicles Adhesives Market, By Form, 2020 to 2021 (US$ Million) & (Kilo Tons)

4.6. Global Electric Vehicles Adhesives Market, By Application, 2020 to 2021 (US$ Million) & (Kilo Tons)

4.7. Global Electric Vehicles Adhesives Market, By Region, 2020 to 2021 (US$ Million) & (Kilo Tons)

5. Global Electric Vehicles Adhesives Market Estimates & Forecast Trend Analysis, by Vehicle Type

5.1. Global Electric Vehicles Adhesives Market Share (%) Estimates and Forecasts, by Vehicle Type, 2022 & 2033

5.2. Global Electric Vehicles Adhesives Market Size (US$ Million) & (Kilo Tons) Estimates and Forecasts, by Vehicle Type, 2023 to 2033

5.2.1. Electric Car

5.2.2. Electric Bus

5.2.3. Electric Bike

5.2.4. Electric Truck

5.2.5. Others

6. Global Electric Vehicles Adhesives Market Estimates & Forecast Trend Analysis, by Resin Type

6.1. Global Electric Vehicles Adhesives Market Share (%) Estimates and Forecasts, by Resin Type, 2022 & 2033

6.2. Global Electric Vehicles Adhesives Market (US$ Million) & (Kilo Tons) Estimates and Forecasts, by Resin Type, 2023 to 2033

6.2.1. Epoxy

6.2.2. Polyurethane

6.2.3. Silicones

6.2.4. Cyanoacrylate

6.2.5. Acrylics

6.2.6. Others

7. Global Electric Vehicles Adhesives Market Estimates & Forecast Trend Analysis, by Substrate

7.1. Global Electric Vehicles Adhesives Market Share (%) Estimates and Forecasts, by Substrate, 2022 & 2033

7.2. Global Electric Vehicles Adhesives Market (US$ Million) & (Kilo Tons) Estimates and Forecasts, by Substrate, 2023 to 2033

7.2.1. Plastic

7.2.2. Composite

7.2.3. Metals

7.2.4. Others

Global Electric Vehicles Adhesives Market Estimates & Forecast Trend Analysis, by Form

7.3. Global Electric Vehicles Adhesives Market Share (%) Estimates and Forecasts, by Form, 2022 & 2033

7.4. Global Electric Vehicles Adhesives Market (US$ Million) & (Kilo Tons) Estimates and Forecasts, by Form, 2023 to 2033

7.4.1. Liquid

7.4.2. Film

7.4.3. Tape

7.4.4. Others

Global Electric Vehicles Adhesives Market Estimates & Forecast Trend Analysis, by Application

7.5. Global Electric Vehicles Adhesives Market Share (%) Estimates and Forecasts, by Application, 2022 & 2033

7.6. Global Electric Vehicles Adhesives Market (US$ Million) & (Kilo Tons) Estimates and Forecasts, by Application, 2023 to 2033

7.6.1. Powertrain

7.6.2. Hybrid Electric Vehicle

7.6.3. Exterior

7.6.4. Interior

7.6.5. Pack & Module Bonding

7.6.6. Battery Cell Encapsulation

7.6.7. Others

8. Global Electric Vehicles Adhesives Market Analysis and Forecast, by Region

8.1. Global Electric Vehicles Adhesives Market Share (%) Estimates and Forecasts, by Region, 2022 & 2033

8.2. Global Electric Vehicles Adhesives Market (US$ Million) & (Kilo Tons) Estimates and Forecasts, by Region, 2023 to 2033

8.2.1. North America

8.2.2. Europe

8.2.3. Asia Pacific

8.2.4. Middle East and Africa

8.2.5. Latin America

9. North America Electric Vehicles Adhesives Market: Estimates & Forecast Trend Analysis

9.1. North America Electric Vehicles Adhesives Market Assessments & Key Findings

9.2. North America Electric Vehicles Adhesives Market Share (%) Estimates and Forecasts, 2022 & 2033

9.3. North America Electric Vehicles Adhesives Market Size Estimates and Forecast (US$ Million) & (Kilo Tons) (2023 to 2033)

9.3.1. By Vehicle Type

9.3.2. By Resin Type

9.3.3. By Substrate

9.3.4. By Form

9.3.5. By Application

9.3.6. By Major Country

9.3.6.1. The U.S.

9.3.6.2. Canada

10. Europe Electric Vehicles Adhesives Market: Estimates & Forecast Trend Analysis

10.1. Europe Electric Vehicles Adhesives Market Assessments & Key Findings

10.2. Europe Electric Vehicles Adhesives Market Share (%) Estimates and Forecasts, 2022 & 2033

10.3. Europe Electric Vehicles Adhesives Market Size Estimates and Forecast (US$ Million) & (Kilo Tons) (2023 to 2033)

10.3.1. By Vehicle Type

10.3.2. By Resin Type

10.3.3. By Substrate

10.3.4. By Form

10.3.5. By Application

10.3.6. By Major Country

10.3.6.1. Germany

10.3.6.2. The U.K.

10.3.6.3. France

10.3.6.4. Italy

10.3.6.5. Spain

10.3.6.6. Rest of Europe (includes all other European countries)

11. Asia Pacific Electric Vehicles Adhesives Market: Estimates & Forecast Trend Analysis

11.1. Asia Pacific Electric Vehicles Adhesives Market Assessments & Key Findings

11.2. Asia Pacific Electric Vehicles Adhesives Market Share (%) Estimates and Forecasts, 2022 & 2033

11.3. Asia Pacific Electric Vehicles Adhesives Market Size Estimates and Forecast (US$ Million) & (Kilo Tons) (2023 to 2033)

11.3.1. By Vehicle Type

11.3.2. By Resin Type

11.3.3. By Substrate

11.3.4. By Form

11.3.5. By Application

11.3.6. By Major Country

11.3.6.1. China

11.3.6.2. Japan

11.3.6.3. India

11.3.6.4. ASEAN

11.3.6.5. South Korea

11.3.6.6. Rest of Asia Pacific (includes all other Asia Pacific countries)

12. Middle East & Africa Electric Vehicles Adhesives Market: Estimates & Forecast Trend Analysis

12.1. Middle East & Africa Electric Vehicles Adhesives Market Assessments & Key Findings

12.2. Middle East & Africa Electric Vehicles Adhesives Market Share (%) Estimates and Forecasts, 2022 & 2033

12.3. Middle East & Africa Electric Vehicles Adhesives Market Size Estimates and Forecast (US$ Million) & (Kilo Tons) (2023 to 2033)

12.3.1. By Vehicle Type

12.3.2. By Resin Type

12.3.3. By Substrate

12.3.4. By Form

12.3.5. By Application

12.3.6. By Major Country

12.3.6.1. GCC

12.3.6.2. South Africa

12.3.6.3. Egypt

12.3.6.4. Rest of Middle East & Africa (includes all other Middle East & Africa countries)

13. Latin America Electric Vehicles Adhesives Market: Estimates & Forecast Trend Analysis

13.1. Latin America Market Assessments & Key Findings

13.2. Latin America Electric Vehicles Adhesives Market Share (%) Estimates and Forecasts, 2022 & 2033

13.3. Latin America Electric Vehicles Adhesives Market Size Estimates and Forecast (US$ Million) & (Kilo Tons) (2023 to 2033)

13.3.1. By Vehicle Type

13.3.2. By Resin Type

13.3.3. By Substrate

13.3.4. By Form

13.3.5. By Application

13.3.6. By Major Country

13.3.6.1. Brazil

13.3.6.2. Mexico

13.3.6.3. Rest of Latin America (includes all other Latin America countries)

14. Competitive Landscape

14.1. Market Revenue Share Analysis (%), by Major Players (2021)

14.2. Market Competition Matrix, by Leading Players

14.3. List of Emerging, Prominent and Leading Players

14.4. Major Mergers & Acquisitions, Partnership, Joint Venture, Expansions, Deals, Recent Developments, etc.

15. Company Profiles

15.1. 3M

15.1.1. Company Overview & Insights

15.1.2. Financial Performance

15.1.3. Product / Service Portfolio

15.1.4. Geographical Footprint & Share

15.1.5. Strategic Initiatives & Key Developments

*Similar details would be provided for all the players mentioned below

15.2. Arkema S.A.

15.3. Ashland Inc.

15.4. Avery Dennison Corporation

15.5. Bostik S.A. (An Arkema Company)

15.6. Delo Industrie Klebstoffe GmbH & Co. KGaA

15.7. DuPont de Nemours, Inc.

15.8. Dymax Corporation

15.9. Evonik Industries AG

15.10. H.B. Fuller Company

15.11. Henkel AG & Co. KGaA

15.12. Illinois Tool Works Inc.

15.13. Jowat Se

15.14. KGaA

15.15. L&L Products

15.16. LORD Corporation

15.17. Lord Corporation

15.18. Metlok Private Limited.

15.19. Permabond LLC

15.20. Permabond LLC.

15.21. Ppg Industries

15.22. PPG Industries, Inc.

15.23. Ried B.V.

15.24. Sika AG.

15.25. Wacker Chemie AG

15.26. Others

16. Assumptions and Research Methodology

16.1. Data Mining

16.2. Secondary Research

16.3. Primary Research

16.4. Subject Matter Expert Advice

16.5. Quality Check

16.6. Final Review

16.7. Data Triangulation

16.8. Bottom-Up Approach

16.9. Top Down Approach

16.10. Research Flow

16.11. Key Insights from Industry Experts

16.12. Data Sources

16.13. Assumptions

16.14. Limitations

17. Conclusions and Recommendations

17.1. Key Research Findings and Conclusion

17.2. Key Insights & Recommendations from Analysts1. Global Electric Vehicles Adhesives Market Introduction and Market Overview