Press Release
Electric Vehicles Adhesives Market Growth, Size, Analysis, Outlook by Trends, Opportunities and Forecast
The global Electric Vehicles Adhesives Market is projected to grow to a value of more than $7863.55 million by 2030, registering a CAGR of over 45% from 2022 to 2030.
Electric Vehicles Adhesives: Introduction
EV adhesives are utilized in different applications, for example, body-in-white, paint shop, powertrain, and get together. The market has been characterized based on adhesives utilized in electric vehicles (EV). The kind of electric vehicles considered are electric vehicles, electric transports, electric bicycles (2-wheeler), and electric trucks. Polymer, composite, and metal have been considered as the significant substrates on which EV adhesive are applied.
The utilization of EV adhesive is expanding because of different requirements of automakers, like holding similar and dissimilar materials, the replacement of traditional substrates materials by synthetic substrates, and the increasing centre around natural concerns. EV adhesives address different designing and configuration issues as they can oppose vibration, are lightweight, and empower the appropriation of stress about a wide region.
Market overview
Rising inclination towards the adoption of environment friendly vehicles to control carbon impressions of the earth is anticipated to support the market development over the stipulated time period.
Adhesives play a significant part in electric vehicles (EVs) by reducing their weight as well as improving their productivity. Glues are utilized for several applications in EVs, for example, component joining and safeguarding them against shock and vibration harms, helping in clearing a way for conducting the heat away from modules and cells by separating the parts, and forestalling the risk of fire by decreasing shorts. Such benefits are boosting the use of glues in the EV market.
Adhesives are significantly utilized in module and pack holding, trailed by thermal connection bonding and battery cell encapsulation. The heat generation and thermal administration are serious worries in EVs. Accordingly, the battery producers should utilize thermal point of interaction materials, like glues, over mechanical fasteners for smooth working. Adhesives used for thermal connection point holding have great thermal conductivity, mechanical stability, and vibration and climate obstruction.
Demand for electric vehicles is expanding gradually across the globe because of rising government drives intended towards the decrease of harmful gas emissions, electric vehicles buying incentives, and others. The critical justification for an enormous interest for adhesive is the developing interest for crash worthiness, safety, and lightweight vehicles among purchasers. The change in pattern from metal and welding latches to adhesive in order to decrease fossil fuel by-products is one more key component for the Electric Vehicles Adhesives market development throughout the forthcoming years.
Economic growth
The global Electric Vehicles Adhesives Market size was $438.9 million in 2021, and is projected to grow to a value of more than $7863.55 million by 2030, registering a CAGR (compound annual growth rate) of over 45% from 2022 to 2030.
Market segmentation: Analysis
The global Electric Vehicles Adhesives Market is segmented by type, application, and regional
Segmentation on the basis of Resin Type
- Polyurethane
- Epoxy
- Silicones
- Acrylics
- Cyanoacrylate
- Others
Polyurethane segment holds the highest market share due to its increasing use in the electric vehicles, as it connects to different materials in the cars.
Segmentation on the basis of Form
- Liquid
- Film
- Tape
- Others
Among these, liquid segment holds the highest market share. Liquid adhesives are highly recommended for the ability to form a long-lasting and strong bind with cotton and polymers. In fact, they’re commonly seen in the interiors of electric vehicles. Liquid adhesives also help in the improvement of durability and optical properties.
Segmentation on the basis of Substrate
- Plastic
- Composite
- Metals
- Others
Here, the plastic segment holds a huge market share because plastics are proven to provide efficiency and long term effectiveness to electric vehicles.
Segmentation on the basis of Application
- Powertrain
- Exterior
- Hybrid electric vehicle
- Interior
- Pack & Module bonding
- Battery Cell Encapsulation
- Others
Exterior segment is expected to become the largest market share. The exterior parts are in high demand because are required in high quantity.
Segmentation on the basis of Vehicle Type
- Electric Car
- Electric Bus
- Electric Bike
- Electric Truck
- Others
The light motor vehicle holds the largest market share as a result of its growing application in different sectors. The demand for light motor vehicles is growing at an excellent rate. The government’s tough policies on electric mobility have hiked the rise of the light motor vehicle.
Segmentation on the basis of Region
- North America
- Europe
- Asia Pacific
Key players in the Electric Vehicles Adhesives Market are:
- Henkel AG & Co. KGaA
- Sika AG
- B. Fuller
- The 3M Company
- Lord Corporation
- Ashland Global Specialty Chemicals Inc
- Bostik
- Jowat SE
- Parker Hannifin Corp
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