Market Overview

The Electric Vehicle Adhesives market is predicted to develop at a compound annual growth rate (CAGR) of 20.62% from 2024 to 2033, when it is projected to reach USD 12.52 billion, based on an average growth pattern. The market is estimated to reach a value of USD 2.46 billion in 2024.

SOURCE: We Market Research

Electric vehicle adhesives refer to specialized bonding materials used in the assembly of components and structures within electric vehicles (EVs). These adhesives are designed to provide strong, durable bonds between various materials such as metals, plastics, and composites, ensuring the integrity and longevity of the vehicle's construction. They play a crucial role in enhancing structural stability, reducing weight, and improving overall vehicle performance while also contributing to the efficiency and sustainability goals of electric mobility. These adhesives are formulated to withstand the unique challenges faced by EVs, including exposure to high temperatures, vibrations, and potential chemical interactions with battery components.

In the electric vehicle adhesives market, several key trends are emerging. One significant trend is the increased adoption of lightweight materials in electric vehicle construction, such as composites and aluminum, to improve energy efficiency and range. This shift necessitates specialized adhesives that can effectively bond these materials while maintaining structural integrity. Additionally, the growing demand for battery electric vehicles (BEVs) is driving the need for adhesives tailored to battery assembly and housing, requiring strong bonds capable of withstanding high temperatures and chemical exposure. Another trend is the emphasis on sustainability, with manufacturers seeking eco-friendly adhesives with reduced VOC emissions and environmental impact. Innovations in adhesive technologies are also prevalent, with advancements in formulations and application methods improving performance and reliability. Moreover, there is a focus on enhancing safety and durability, leading to the development of adhesives meeting stringent standards for critical component integrity. As the industry shifts towards autonomous and connected vehicles, adhesives are evolving to bond advanced sensor systems and electronics seamlessly into vehicle structures. Overall, the electric vehicle adhesives market is characterized by continuous innovation to support the rapid growth of electric mobility while meeting increasingly stringent performance, sustainability, and safety requirements. 

Market Scope

Electric Vehicle Adhesives Industry: Dynamics & Restrains

Market Drivers

Rising Demand for Electric Vehicles - Electric vehicle adhesives market growth is being driven by the increasing demand for electric vehicles (EVs). The need for improved adhesive solutions is being driven by the increasing popularity of electric vehicles (EVs) in the automotive industry, which is undergoing a large change towards sustainability. The structural integrity, lightweight design, and general performance of electric vehicle (EV) components are all improved by the use of adhesives. Electronic systems, battery packs, and other essential components are assembled more effectively thanks to these adhesives. Reflecting the critical role adhesives play in supporting the growing electric car market, manufacturers are increasingly depending on specialist adhesives to meet strict performance and safety criteria.

Increased Focus on Battery Technology - A major factor propelling the expansion of the electric vehicle adhesives market is the increased focus on battery technology. Modern battery systems are at the forefront of innovation as automobile electrification becomes more and more common. In order to secure and maximize the performance of complex battery components, electric vehicle adhesives are essential. Specialized adhesives made to survive harsh circumstances are becoming more and more in demand as manufacturers concentrate on improving the energy density, durability, and safety of batteries for electric vehicles. Adhesives play a crucial part in improving battery technology for electric vehicles by aiding in the effective bonding of battery cells, guaranteeing their dependability and durability.

Market restrains

Technical Challenges in Battery Assembly - The electric vehicle adhesives market is limited by technical issues with battery assembly. The complicated shapes and diverse materials of electric vehicle batteries pose hurdles for adhesive applications. Adhesive technologies need to solve challenges such as ensuring stable and dependable bonding on a variety of substrates, responding to temperature variations, and handling thermal expansion problems. Manufacturers are faced with the challenge of creating adhesives that can meet the increasing demand for high-performance batteries, which makes it more difficult to integrate these solutions seamlessly into the changing environment of electric vehicle battery assembly. For electric vehicle adhesives to be widely used, it is imperative that these technological issues are resolved.

We Market Research: Electric Vehicle Adhesives Dashboard

Our marketing platform offers a comprehensive dashboard that provides clients with valuable insights into market trends over the years. Included below is a sample image of our dashboard, and specific PDF logins will be furnished to grant access to this insightful tool.

Electric Vehicle Adhesives Segmentation

Market- By Vehicle Analysis

By Vehicle, the Electric Vehicle Adhesives Market is Categories into Plug in hybrid electric vehicle, Battery electric vehicle. The Plug in hybrid electric vehicle segment accounts for the largest share of around 56% in 2024.

Plug-in Hybrid Electric Vehicles (PHEVs) have gained popularity because of its dual-power mechanism, which makes it simple for them to switch between combustion and electric engines. This addresses range concerns, attracts eco-conscious consumers, and offers a practical choice for individuals transitioning to electric cars.

The following segments are part of an in-depth analysis of the global Electric Vehicle Adhesives market:

 Electric Vehicle Adhesives Industry: Regional Analysis

Asia Pacific Market Forecast

Asia Pacific dominate the Electric Vehicle Adhesives Market with the highest revenue generating market with share of more than 46%. The Asia-Pacific region's increasing adoption of electric cars, particularly in China, has created a need for novel adhesives that guarantee structural integrity and safety in EV manufacturing. The favorable regulations and incentives from the government are contributing to the expansion of the electric vehicle adhesive market, which is in line with the region's commitment to environmentally friendly transportation solutions.

North America Market Statistics

North America is the second-largest market for Electric Vehicle Adhesives. Strong environmental restrictions in North America are driving up demand for electric vehicles (EVs), which in turn is driving up demand for specialty adhesives. The market is further propelled by ongoing technological developments in EVs and encouraging government subsidies, which encourage consumers to select eco-friendly solutions and increase the region's overall adoption of EV adhesives.

Europe Market Forecasts

Europe is expected to be the fastest-growing market for Electric Vehicle Adhesives during the forecast period. Europe's aggressive pollution reduction targets encourage the use of electric vehicles, which calls for the use of specialty adhesives to improve energy efficiency and light weighting. The need for cutting-edge adhesives that improve the efficiency and security of electric vehicles is being driven by rising government and private sector investments in the infrastructure supporting electric mobility.

Key Market Players

The Electric Vehicle Adhesives Market is dominated by a few large companies, such as

·         Sika AG (Switzerland)

·         Ashland (US)

·         H.B. Fuller (US)

·         Permabond (UK)

·         3M (US)

·         L&L Products (US)

·         Jowat SE (Germany)

·         PPG Industries (US)

·         Henkel (Germany),

·         Wacker Chemie AG (Germany)

·         Bostik SA – An Arkema company (France)

·         Others

Recent Developments:

·         September 2022, The Thermal Management Materials division of Nanoramic Laboratories has been fully acquired by Henkel AG & Co. KGaA. By enhancing its capabilities in high-performance categories, Henkel leveraged this acquisition to boost the position of its Adhesive Technologies business unit in the expanding markets for Thermal Interface Materials (TIM).

·         January 2022, The largest independent producer of liquid adhesives, coatings, and primers in the UK for the roofing, industrial, and construction markets, Apollo was acquired by H.B. Fuller Company, it was reported.

1.      Global Electric Vehicle Adhesives Market Introduction and Market Overview

1.1.    Objectives of the Study

1.2.    Global Electric Vehicle Adhesives Market Scope and Market Estimation

1.2.1. Global Electric Vehicle Adhesives Overall Market Size, Revenue (US$ Mn), Market CAGR (%), Market forecast (2023 - 2033)

1.2.2. Global Electric Vehicle Adhesives Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019 - 2033

1.3.    Market Segmentation

1.3.1. Component of Global Electric Vehicle Adhesives Market

1.3.2. Technology of Global Electric Vehicle Adhesives Market

1.3.3. Resin of Global Electric Vehicle Adhesives Market

1.3.4. Region of Global Electric Vehicle Adhesives Market

2.      Executive Summary

2.1.    Global Electric Vehicle Adhesives Market Industry Trends under COVID-19 Outbreak

2.1.1. Global COVID-19 Status Overview

2.1.2. Influence of COVID-19 Outbreak on Global Electric Vehicle Adhesives Market Industry Development

2.2.    Market Dynamics

2.2.1. Drivers

2.2.2. Limitations

2.2.3. Opportunities

2.2.4. Impact Analysis of Drivers and Restraints

2.3.    Pricing Trends Analysis & Average Selling Prices (ASPs)

2.4.    Key Mergers & Acquisitions, Expansions, JVs, Funding / VCs, etc.

2.5.    Porter’s Five Forces Analysis

2.5.1. Bargaining Power of Suppliers

2.5.2. Bargaining Power of Buyers

2.5.3. Threat of Substitutes

2.5.4. Threat of New Entrants

2.5.5. Competitive Rivalry

2.6.    Value Chain / Ecosystem Analysis

2.7.    Russia-Ukraine War Impacts Analysis

2.8.    Economic Downturn Analysis

2.9.      Market Investment Opportunity Analysis (Top Investment Pockets), By Segments & By Region

3.      Global Electric Vehicle Adhesives Market Estimates & Historical Trend Analysis (2019 - 2022)

4.      Global Electric Vehicle Adhesives Market Estimates & Forecast Trend Analysis, by VEHICLE

4.1.    Global Electric Vehicle Adhesives Market Revenue (US$ Mn) Estimates and Forecasts, by VEHICLE, 2019 to 2033

4.1.1. Plug in hybrid electric vehicle

4.1.2. Battery electric vehicle

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

5.1.    Global Electric Vehicle Adhesives Market Revenue (US$ Mn) Estimates and Forecasts, by Application, 2019 to 2033

5.1.1. Interior

5.1.2. Exterior

5.1.3. Powertrain

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

6.1.    Global Electric Vehicle Adhesives Market Revenue (US$ Mn) Estimates and Forecasts, by Resin, 2019 to 2033

6.1.1. Silicon

6.1.2. Polyurethane

6.1.3. Epoxy

6.1.4. Acrylics

6.1.5. Others

7.      Global Electric Vehicle Adhesives Market Estimates & Forecast Trend Analysis, by SUBSTRATE

7.1.    Global Electric Vehicle Adhesives Market Revenue (US$ Mn) Estimates and Forecasts, by Resin, 2019 to 2033

7.1.1. Composite

7.1.2. Plastic

7.1.3. Metals

7.1.4. Others

8.      Global Electric Vehicle Adhesives Market Estimates & Forecast Trend Analysis, by FORM

8.1.    Global Electric Vehicle Adhesives Market Revenue (US$ Mn) Estimates and Forecasts, by Resin, 2019 to 2033

8.1.1. Liquid

8.1.2. Film & Tape

8.1.3. Others

9.      Global Electric Vehicle Adhesives Market Estimates & Forecast Trend Analysis, by END USER

9.1.    Global Electric Vehicle Adhesives Market Revenue (US$ Mn) Estimates and Forecasts, by Resin, 2019 to 2033

9.1.1. Pack & module bonding

9.1.2. Thermal interface bonding

9.1.3. Battery cell encapsulation

9.1.4. Others

10.  Global Electric Vehicle Adhesives Market Estimates & Forecast Trend Analysis, by Region

10.1.                     Global Electric Vehicle Adhesives Market Revenue (US$ Mn) Estimates and Forecasts, by Region, 2019 to 2033

10.1.1.   North America

10.1.2.   Europe

10.1.3.   Asia Pacific

10.1.4.   Middle East & Africa

10.1.5.   South America

11.  North America Electric Vehicle Adhesives Market: Estimates & Forecast Trend Analysis

11.1.      North America Electric Vehicle Adhesives Market Assessments & Key Findings

11.1.1.   North America Electric Vehicle Adhesives Market Introduction

11.1.2.   North America Electric Vehicle Adhesives Market Size Estimates and Forecast (US$ Million) (2019 – 2033)

11.1.2.1.    By VEHICLE

11.1.2.2.    By Application

11.1.2.3.    By Resin

11.1.2.4.    By SUBSTRATE

11.1.2.5.    By FORM

11.1.2.6.    By END USER

11.1.2.7.    By Country

11.1.2.7.1. The U.S.

11.1.2.7.2. Canada

11.1.2.7.3. Mexico

12.  Europe Electric Vehicle Adhesives Market: Estimates & Forecast Trend Analysis

12.1.  Europe Electric Vehicle Adhesives Market Assessments & Key Findings

12.1.1.   Europe Electric Vehicle Adhesives Market Introduction

12.1.2.   Europe Electric Vehicle Adhesives Market Size Estimates and Forecast (US$ Million) (2019 – 2033)

12.1.2.1.    By VEHICLE

12.1.2.2.    By Application

12.1.2.3.    By Resin

12.1.2.4.    By SUBSTRATE

12.1.2.5.    By FORM

12.1.2.6.    By END USER

12.1.2.7.    By Country

12.1.2.7.1. Germany

12.1.2.7.2. U.K.

12.1.2.7.3. France

12.1.2.7.4. Italy

12.1.2.7.5. Spain

12.1.2.7.6. Russia

12.1.2.7.7. Rest of Europe

13.  Asia Pacific Electric Vehicle Adhesives Market: Estimates & Forecast Trend Analysis

13.1.  Asia Pacific Market Assessments & Key Findings

13.1.1.   Asia Pacific Electric Vehicle Adhesives Market Introduction

13.1.2.   Asia Pacific Electric Vehicle Adhesives Market Size Estimates and Forecast (US$ Million) (2019 – 2033)

13.1.2.1.    By VEHICLE

13.1.2.2.    By Application

13.1.2.3.    By Resin

13.1.2.4.    By SUBSTRATE

13.1.2.5.    By FORM

13.1.2.6.    By END USER

13.1.2.7.    By Country

13.1.2.7.1. China

13.1.2.7.2. Japan

13.1.2.7.3. India

13.1.2.7.4. Australia

13.1.2.7.5. South Korea

13.1.2.7.6. ASEAN

13.1.2.7.7. Rest of Asia Pacific

14.  Middle East & Africa Electric Vehicle Adhesives Market: Estimates & Forecast Trend Analysis

14.1.  Middle East & Africa Market Assessments & Key Findings

14.1.1.   Middle East & Africa Electric Vehicle Adhesives Market Introduction

14.1.2.   Middle East & Africa Electric Vehicle Adhesives Market Size Estimates and Forecast (US$ Million) (2019 – 2033)

14.1.2.1.    By VEHICLE

14.1.2.2.    By Application

14.1.2.3.    By Resin

14.1.2.4.    By SUBSTRATE

14.1.2.5.    By FORM

14.1.2.6.    By END USER

14.1.2.7.    By Country

14.1.2.7.1. U.A.E.

14.1.2.7.2. Saudi Arabia

14.1.2.7.3. Egypt

14.1.2.7.4. South Africa

14.1.2.7.5. Rest of Middle East & Africa

15.  South America Electric Vehicle Adhesives Market: Estimates & Forecast Trend Analysis

15.1.  South America Market Assessments & Key Findings

15.1.1.   South America Electric Vehicle Adhesives Market Introduction

15.1.2.   South America Electric Vehicle Adhesives Market Size Estimates and Forecast (US$ Million) (2019 – 2033)

15.1.2.1.    By VEHICLE

15.1.2.2.    By Application

15.1.2.3.    By Resin

15.1.2.4.    By SUBSTRATE

15.1.2.5.    By FORM

15.1.2.6.    By END USER

15.1.2.7.    By Country

15.1.2.7.1. Brazil

15.1.2.7.2. Argentina

15.1.2.7.3. Colombia

15.1.2.7.4. Rest of South America

16.  Competition Landscape

16.1.  Global Electric Vehicle Adhesives Market Competition Matrix & Benchmarking, by Leading Players / Innovators / Emerging Players / New Entrants

16.2.  Global Electric Vehicle Adhesives Market Competition White Space Analysis, By Resin

16.3.  Global Electric Vehicle Adhesives Market Competition Heat Map Analysis, By Resin

16.4.  Global Electric Vehicle Adhesives Market Concentration & Company Market Shares (%) Analysis, 2022

17.  Company Profiles

17.1.                     Sika AG (Switzerland)

17.1.1.   Company Overview & Key Stats

17.1.2.   Financial Performance & KPIs

17.1.3.   Product Portfolio

17.1.4.   Business Strategy & Recent Developments

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

17.2.      Ashland (US)

17.3.      H.B. Fuller (US)

17.4.      Permabond (UK)

17.5.      3M (US)

17.6.      L&L Products (US)

17.7.      Jowat SE (Germany)

17.8.      PPG Industries (US)

17.9.      Henkel (Germany),

17.10.  Wacker Chemie AG (Germany)

17.11.  Bostik SA – An Arkema company (France)

17.12.  Others

18.  Research Methodology

18.1.  External Transportations / Databases

18.2.  Internal Proprietary Database

18.3.  Primary Research

18.4.  Secondary Research

18.5.  Assumptions

18.6.  Limitations

18.7.  Report FAQs

19.  Research Findings & Conclusion