Global Automotive Sealants and Adhesives

Global Automotive Sealants and Adhesives

The global automotive sealants and adhesives market is projected to witness a Compound Annual Growth Rate (CAGR) of 7.8% in value terms during the forecast period, resulting in an estimated value of USD 15.24 billion by 2029. This growth is expected to be driven by the substantial increase in electric vehicle (EV) production. Following a notable decline in car production in 2020, vehicle production and consequently, the demand for sealants and adhesives, demonstrated significant growth from 2021 to 2023.

The market size of the global automotive sealants and adhesives is segmented by product categories, namely sealant and adhesives. Notably, the adhesives segment emerged as the dominant force in the global automotive sealants and adhesives market in 2023, with a projected volume of 2,328.7 thousand tons by 2029, representing a forecasted CAGR of 6.2% during the period from 2024 to 2029.

Furthermore, the market size of the global automotive sealants and adhesives is analyzed across various application segments, including assembly, paint shop, under-the-hood (UTH), powertrain, and body-in-white (BIW) for the indicated period.

Within the paint shop segment, the market size showcased impressive growth, with projections indicating a continued upward trend. The paint shop segment's market size is expected to reach 1,266.9 thousand tons by 2029, representing a forecasted CAGR of 6.0% during the period from 2024 to 2029.

This report also examines the segmentation of the global automotive sealants and adhesives market by end-user for the forecast period, with key segments including refinish and Original Equipment Manufacturers (OEMs). In 2023, the OEM industry held a significant market share within the global automotive sealants and adhesives industry. Looking ahead, the OEM segment is expected to reflect a CAGR of 6.1% during the forecast period (2024-2029).

Geographically, Asia-Pacific emerged as the dominant player in the automotive sealants and adhesives market in 2023, closely followed by Europe and North America. Europe, in particular, stands out as a prime market for automotive adhesives, owing to the strong presence of automotive Original Equipment Manufacturers (OEMs). The electrification of vehicles has further enhanced the region’s appeal to adhesive suppliers seeking to collaborate closely with OEMs in developing advanced adhesive formulations for evolving applications. A notable region segment is Europe, which presents a significant market opportunity. Estimates indicate that by 2029, the Europe segment will achieve a market size of 630.2 thousand tons.

The automotive sealants and adhesives market is characterized by intense competition, with companies prioritizing innovation and the development of new products and technologies. While the adhesives segment tends to be less fragmented, the sealants segment remains relatively more so. Prominent vendors driving competitive dynamics in the market include 3M Company, Anabond Limited, Arkema S.A., Avery Dennison Corporation, Elkem ASA, EMS-Chemie Holding AG, H.B. Fuller Company, Henkel AG & Co. KGaA, Huntsman Corporation, LG Chem, Ltd., Pidilite Industries Limited, Shin-Etsu Chemical Co., Ltd., Sika AG, The Dow Chemical Company, ThreeBond Holdings Co., Ltd., Wacker Chemie AG, among others.

This study aims to analyze the global market for various segments of automotive sealants and adhesives, including:

Type: Sealant and Adhesives.

Application: Assembly, Paint Shop, UTH (Under-The-Hood) and Powertrain, and BIW (Body-In-White).

End-User: Refinish and OEM (Original Equipment Manufacturer).

Region: North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA).