Business Continuity and Employee Safety Crucial During COVID-19
Whilst maintaining health and safety of employees, companies in the automotive adhesive market are finding it challenging to maintain business continuity during the COVID-19 (coronavirus) crisis. However, companies such as Sika USA— a supplier of specialty products for the construction, industrial manufacturing & automotive markets, is striving to maintain continued well-being of its employees and steady business operations. In order to comply with social distancing norms, certain employees that are not working in production units have been instructed to work from home by their employers. This has helped adhesive manufacturers to avoid supply shocks for its customers during unprecedented times.
Employees in the production and shipping operations are working diligently to supply their product for critical automotive manufacturing projects. In order to boost their credibility in the automotive adhesive market, manufacturers are complying with the CDC (Centers for Disease Control and Prevention) guidelines.
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Instantaneous Adhesion and Quick Curing Time of PSAs Lure Automobile Manufacturers
Companies in the automotive adhesive market are innovating in fast-applying pressure sensitive adhesives (PSA). These adhesives are emerging as an alternative to traditional mechanical fasteners, since former aids in vehicle weight reduction. PSAs are being highly publicized to distribute the stress more evenly with adhesives. Since plastics are greatly weakened by mechanical fasteners, manufacturers in the automotive adhesive market are increasing their production levels for PSAs. As such, consistent stress distribution enables the use of thinner materials, which result in weight reduction and fuel savings.
PSA films and foams provide benefits of accurately dispensing liquids onto surfaces. Manufacturers are developing double-sided PSA adhesives that are designed to stick on either sides of the substrate. Instantaneous adhesion and quick curing time are few more advantages of PSAs that are highly preferred by automobile manufacturers.
Weld Bond Adhesives Improve Rigidity of Vehicles and Achieve Weight Reduction
The fast-changing automotive industry has compelled companies in the automotive adhesive market to invest in R&D activities. Sunstar Engineering— a producer of adhesives, sealants, and coating products, conducts R&D at its different sites worldwide to support production processes related to the automobile manufacturing industry.
Since adhesives are an indispensable part of the automobile industry, manufacturers are innovating in adhesives that allow weight reduction in automobiles. However, thinner steel sheets in automobiles are vulnerable to damage and reduce the rigidity of vehicles. Hence, high adhesion of steel sheets helps to improve the strength of steel sheets in automobiles. Companies in the automotive adhesive market are increasing their production capacities for weld bond adhesives that are used as a combination of spot welding and adhesives. These adhesives help to ensure the vehicle body’s rigidity and strength. Weld bond adhesives are being increasingly used to strengthen single point joints in automobiles.
Self-driving Cars Pose R&D Challenges in Automotive Adhesives
The automotive adhesive market is projected to cross a revenue of US$ 7 Bn by 2030. However, constant changes in the development of hybrid cars and electric vehicles has become potentially challenging for adhesive manufacturers to keep with the changing demands of end users. Hence, it has become very important for adhesive manufacturers to increase their research expenditure, especially when the era of self-driving cars is fast approaching. Due to increased emphasis on passenger safety and comfort, manufacturers in the automotive adhesive market are providing up-to-date products that meet demanding applications.
Manufacturers are increasing the availability for smart adhesive solutions. For instance, Bostik— a global player in specialty adhesives is tapping value-grab opportunities in smart automotive adhesive solutions that are designed to enhance vehicle durability and passenger safety.
Manufacturers Gain Global Recognition with Industrial Consultation Services
Apart from cars and electric vehicles, manufacturers in the automotive adhesive market are increasing the availability of tailored products for truck, caravan, and bus manufacturers. EGO— a manufacturer of sealants and adhesives is expanding its product portfolio with tapes and low-VOC (Volatile Organic Compound) adhesives. Companies in the automotive adhesive market are manufacturing rood liner adhesives, trim adhesives, and window sealants that are being increasingly used in automotive assemblies. In order to gain global recognition, adhesive manufacturers are setting up a team of industrial consultants and application technicians that help to brainstorm over interior and exterior applications for automotive manufacturers.
Companies are delivering high quality standard in adhesives and sealants, while abiding with low VOC values and LEED (Leadership in Energy and Environmental Design) compliance. They are developing tapes that can be precisely die-cut to the shape and dimensions of an automotive part.
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In-vehicle Electronics and Sensors Catalyze Demand for High-tech Automotive Adhesives
Adhesives and sealants have become an indispensable part of the joining technology in automobiles. Automotive adhesives have eliminated the need to solder, bolt or weld engines onto substrates, and are being bonded securely and reliably in vehicles. Sealing and potting applications are surging in the ever-increasing automotive manufacturing industry. These applications are bolstering the growth for the automotive adhesive market, which is estimated to progress at a favorable CAGR of ~5% during the assessment period.
In-vehicle electronics and sensors are fueling the demand for automotive adhesives. Lightweight processing of components is a recurring trend in the automotive manufacturing industry, which is another key market driver for growth. As such, there is a need for adhesives that are capable of withstanding chemicals, temperature fluctuations, and routine wear applications. The growing trend toward electromobility is anticipated to fuel the production of high-tech adhesives.
Automotive Adhesive Market: Overview
- The global automotive adhesive market is anticipated to expand at a CAGR of ~5% during the forecast period, owing to an increase in content of adhesives in vehicles
- Rise in stringency in emission norms and consumer demand for fuel-efficient vehicles is projected to drive the adoption of adhesives in automobiles
Drivers of Automotive Adhesive Market
- Advent of lightweight electric vehicles is estimated to drive the adoption of adhesives as a replacement for rivets and welds. Rise in usage of adhesives for bonding of body panels and body interiors is anticipated to fuel the demand for automotive adhesives. Increase in sales of electric vehicles, owing to a decline in the price of batteries, and government incentives are likely to boost the global automotive adhesive market.
- Increased vehicle production in developing regions, such as Asia Pacific and Latin America, is estimated to propel the consumption of adhesives by automakers. This is, in turn, drive the automotive adhesive market. Countries such as India, Mexico, and Brazil are witnessing significant increase in production of vehicles due to the entry of foreign automakers, which is likely to boost the automotive adhesive market in these countries.
- Usage of automotive adhesives lead to the manufacturing of safer and cost-effective vehicles. Rise in competition among automakers to offer vehicles at attractive prices and high safety rating is expected to drive the automotive adhesives market during the forecast period.