Global Automotive Adhesive Market to Reach $11.1 Billion by 2031, Driven by Lightweight Vehicle Demand
• The global automotive adhesive market was valued at about $7.2 billion in 2022 and is estimated to reach $11.1 billion by 2031, growing at a CAGR of 4.9%.
• Rising demand for lightweight vehicles is driving demand for adhesives to bond lightweight parts and materials like aluminum, plastics, and carbon fiber.
• Asia Pacific is the largest regional market due to growth in countries like China, Japan, and India. North America and Europe are other major markets.
• Key players in the market include 3M, Henkel AG & Co., Arkema S.A., DuPont, and Sika AG.
• In 2023, Henkel introduced an injectable thermal adhesive for EV batteries and Arkema acquired Glenwood Private Equity to diversify its product portfolio.