Auto Adhesive Market to Rise Nearly 9%
Growth is reportedly due to the average usage of adhesives being between 13-18kg per vehicle.
The global size of the adhesives in the automotive industry was estimated at around $4 billion in 2016, and with a compound annual growth rate (CAGR) of 8-9% and it is estimated to grow more than $6.5 billion by 2022. This is reportedly due to the average usage of adhesives being between 13–18kg per vehicle.
This report aims to identify the changes that are under way. In terms of the utilization of newer safe technologies for adhesives, the trends to lightweighting with the potential increase in the use of aluminum and composites, and the switch of high technology from Europe, NAFTA and Japan to markets like China, India, and Thailand are reportedly factors in the rise of the auto adhesive market.
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