Electric Vehicle Adhesives Market By Resin Type (Epoxy, Polyurethane, Silicone, Acrylic) By Application (Exterior, Interior, Powertrain): Growth, Future Prospects, and Competitive Analysis, 2015 - 2027

During the forecast period 2021-2027, the electric vehicle adhesives market is expected to grow at a CAGR of 36.1%. The market is estimated to be worth US$ 410.2 million in 2021 and will generate US$ 2,605.2 million by 2027. Adhesives and sealants have played a significant role in developing hybrid and battery electric vehicle battery cells, modules, packs, and motors and will continue to do so. Adhesives are also used in the paint, bodywork, and car assembly of electric vehicles. In addition, OEMs make significant efforts to reduce the weight of the body, interior, and engine components because reducing the weight of EV components helps to extend their range. As a result, non-traditional or inappropriate materials, such as lightweight composite tailgates for SUVs or hatchbacks, are frequently required in EVs.

Heat management in electric vehicles is in high demand.

Heat management is a major concern for electric car manufacturers and component suppliers. Thermally conductive adhesives and potting compounds protect electronics in demanding applications by providing solid electrical insulation and heat transmission, and many of the compounds are flame retardants. These components are used in batteries, transformers, electric motors, coils, sensors, and other applications where heat must be dispersed away from the electronics.

In the market, the electric car segment holds a strong position.

The market is divided into four segments based on vehicle type: electric car, electric bus, electric bike, and electric truck. The electric car category accounts for the market's dominant position and is expected to maintain its dominance throughout the forecast period. Growing environmental concerns due to ICE vehicles have fueled market demand for electric vehicles. Furthermore, during the forecast period, the EV market will be driven by the implementation of favorable EV regulations and technological advances in the value chain. As a result, the rise of electric vehicles is expected to drive the growth of electric vehicle adhesives over the forecasted period.

The Asia Pacific will be the largest market for electric vehicle adhesives.

Based on region, the market is divided into North America, Europe, Asia Pacific, the Middle East, Africa, and Latin America. The Asia Pacific electric vehicle adhesives market dominated in 2020 and is expected to maintain its dominance during the forecast period, followed by Europe and North America. China, Japan, South Korea, India, and Australia are among the major countries driving the market in this region. The availability of low-cost labor in Asia Pacific countries, particularly India and China, can provide significant investment opportunities for corporations. In addition, government efforts and the government's planned entrepreneurship development program may open up new industrial and infrastructure development avenues. All of these factors are likely to drive the APAC market.

Global Electric Vehicle Adhesives Market Key Players:

3M, Ashland, Bostik S.A., Delo Industrie Klebstoffe GmbH & Co. KGaA, Dowdupont, H.B. Fuller, Henkel, Jowat Se, L&L Products, Lord Corporation, Permabond LLC., PPG Industries, Sika AG, Uniseal, Inc., Wacker Chemie AG are some of the key players operating in the global electric vehicle adhesives market. Companies in the electric car adhesives industry are pursuing alliances and acquisitions as a business strategy to expand their market presence. For example: In November 2018, Henkel formed a strategic partnership with RLE International to develop innovative e-mobility concepts and lightweight breakthroughs. In February 2020, H.B Fuller acquired certain DHM assets. Adhesives, Inc. DHM, based in Calhoun, Georgia, produces hotmelt adhesives.