The Global Electric Vehicles Adhesives Market Size Was Valued At USD 0.4 Billion In 2022 And Is Projected To Grow At USD 7.35 Billion With CAGR Of 43.9% During The Forecast Period 2022 To 2030.
Electric vehicle adhesives are glues that make it possible for parts to stick together without getting in the way of how they work. It makes a strong connection between the parts of the battery and lets the parts work well together. These adhesives can make things more flexible while still holding things together well. It also helps absorb shocks so that parts don't break when they hit something, and it reduces vibrations in parts.
They can be used to bond body panels, attach brackets to chassis parts, and seal seams and joints, among other things. In the production of Electric Vehicles, adhesives are becoming more important because of the need for lightweight, high-performance materials that can help improve the efficiency and range of EVs.
Glues can be used instead of mechanical fasteners like bolts and screws, which can make a vehicle heavier than it needs to be and slow it down. Adhesives are perfect for use in electric vehicles because they last longer and can handle high temperatures, vibrations, and other environmental factors better than other materials.
There are different ways to make adhesives for electric vehicles, such as tapes, sealants, and structural adhesives. Synthetic polymers like epoxy, acrylics, and urethanes are often used to make these things because they are strong, last a long time, and don't break down in the environment. Manufacturers of electric cars and the parts that go into them are using these specialized glues more often to make cars that are lighter, work better, and are better for the environment.
Because of the COVID-19 pandemic, the global market for adhesives for electric vehicles was hurt in a big way. Since the manufacturing industries had stopped, there was much less demand for adhesives for electric vehicles. The market had to stop because the government had rules that limited the movement of raw materials and forbade people to talk to each other. There were big delays in making the cars because the logistics of the supply chain were really messed up.
Due to delays in the delivery of raw materials, operational costs and capital issues have had a big effect on automotive OEMs. This, in turn, has an effect on the automotive adhesive market. Due to the drop in oil prices and the pandemic, industries that use these glues are facing different levels of demand. Some of the segments are winners, some are in the middle, and the rest are losers. Manufacturers are likely to push for employees who aren't working on production lines to be able to do their jobs from home because of the constant restrictions on supply chains and the current health threat to workers.
- High-Demand for Automotive Adhesives
China and India are the main places that drive the demand for automotive adhesives. The China Adhesive Association says that China is the world's largest market for adhesives in terms of both production and demand. This is because the country makes a lot of cars. Japan is now the second largest market in the APAC area for automotive adhesives. In India, the growth of the automotive adhesives market is being driven by the "Make in India" movement.
Automotive adhesives are in high demand because they are being used more and more in the automotive industry. Traditional mechanical fasteners like screws and bolts can't do everything that glue can. They can spread stress out over a larger area, making it less likely that the part will wear out or break. Adhesives also protect against corrosion better, make things lighter, and look better. Also, the automotive industry is moving away from gas-powered cars and toward electric cars, which need different kinds of glue than gas-powered cars. For electric cars to get rid of the heat made by the battery and power electronics, they need glues with a higher thermal conductivity. A lot of adhesives are also used to make self-driving cars, which are expected to grow quickly in the next few years. Also, the demand for lightweight materials like carbon fiber composites is growing in the automotive industry. This means that new adhesives are needed to bond these materials well. Because of this, the market for automotive adhesives is likely to keep growing in the coming years.
- Automobile Manufacturers Increasingly Investing in EVS due to Government Regulations and Purchase Incentives
As the trend toward more environmentally friendly transportation grows, there are a number of current events that have to do with more money being put into electric vehicles (EVs). Governments and private companies are putting a lot of money into EV charging stations to make charging EVS easier and more convenient. As part of its infrastructure plan, the US Department of Energy (DOE) announced in May 2022 that it would get USD 3.1 billion from US President Biden's Bipartisan Infrastructure Law to make more batteries and parts in the US, improve domestic supply chains, create good-paying jobs, and help families save money. In February 2023, the Biden-Harris Administration released new standards and made a lot of progress toward a national network of EV chargers that are made in the United States. According to a White House fact sheet for 2023, US President Biden's Bipartisan Infrastructure Act recently put USD 7.5 billion into infrastructure for charging EVs, USD 10 billion into infrastructure for clean transportation, and more than USD 7 billion into EV battery parts, critical minerals, and materials. Many car companies are putting a lot of money into making electric cars so they can meet rising demand and meet pollution rules at the same time. For example, in 2021, General Motors said it would spend USD 35 billion on electric and self-driving cars by 2025, and in the same year, Ford said it would spend USD 22 billion on EVs. Venture capital firms and other investors are putting a lot of money into startups that are making EVs and other technologies. For example, in July 2021, Amazon led a round of funding worth USD 2.5 billion for Rivian, a company that makes electric trucks.
Many governments around the world offer tax credits, rebates, and subsidies to get people to buy electric vehicles (EVs). For example, the UK said in November 2020 that it would stop making new gasoline and diesel cars by 2030 and increase subsidies for electric cars. As the world moves toward a more sustainable future, a lot of money is being put into electric vehicles and related technologies.
- Supportive Regulations are Driving the Market
Even before the pandemic, there were regulatory frameworks that helped the market grow. For example, many countries were tightening important rules, such as CO2 emission standards and zero-emission vehicle (ZEV) mandates. By the end of 2020, more than 20 countries will have either banned the sale of conventional cars or made it so that only ZEVs can be sold. Several European countries are giving buyers more incentives to buy EVs, and China is delaying the end of its subsidy program to protect EV sales from the economic slump. More EV models have come out, and the price of batteries has gone down.
- High Usage of Polyurethane Resin
Urethane polymers are what polyurethane glues are made of. They are more flexible and can stretch up to 600% before breaking. One-component rigid polyurethane adhesives, two-component polyurethane adhesives, and two-component elastic polyurethane adhesives are the main types of polyurethane adhesives. Polyurethane adhesives form bonds in two steps: first, the glue cools down to get strong enough to hold, and then the glue uses water to keep curing for hours or days to get its final structural strength. Polyurethane resin is becoming more popular because it bonds well and quickly to many different materials, such as composites, plastics, metal, and others. Polyurethane resin is becoming more popular in the automotive industry, especially in electric vehicles, which is expected to help the market grow over the next few years.
- High Cost of Raw Materials
The demand for adhesives for electric vehicles may be held back by higher initial costs and rising prices for raw materials. The fact that they are more expensive than other traditional adhesives make consumers less likely to buy them.
Also, the lack of standardization and the limited number of charging stations are major factors that slow down the market. The limited range of electric vehicles, on the other hand, will make it harder for the electric vehicles adhesives market to grow between 2022 and 2029.
This electric vehicle adhesives market report gives details about new developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, and product launches. For more information on the market for adhesives for electric vehicles, you can get an Analyst Brief from Data Bridge Market Research. Our team will help you make an informed market decision so that the market can grow.
- Scarcity of Charging Station
Charging stations are another thing that makes it hard for the market for electric cars to grow. Even though there are more electric cars on the road, people are still hesitant to use them because they don't want to get stuck somewhere without a charging station. As more charging stations are put in and the market for electric cars grows, this worry will go away. Between 2020 and 2030, the total amount of energy that all-electric vehicles will use will go up by a lot. By 2030, it is expected that the world will have used 280 billion kilowatt-hours of energy.
Different charging loads have shown how important it is to make EV charging technology more consistent. Some EV charging stations may only work with one type of electric vehicle. A level 1 charging station at an AC charging station gives out 120 V AC, and a level 2 charging station gives out 208/240V AC. On the other hand, the 480 V DC charging station lets you charge your car quickly. Different countries have different rules about how to charge quickly. China uses GB/T, while Europe, the US, and South Korea use CCS and Japan uses CHAdeMO. Tesla uses a high-performance supercharger that has been patented and can also be used by other EV makers. Standardizing the infrastructure for charging EVs is needed to create an environment that is good for EVs and to boost EV sales.
- Scope for Growth of Autonomous Electric Vehicle
Autonomous electric vehicles are electric cars that can park themselves or don't need a driver. By 2030, it is expected that self-driving cars will be reliable enough and cheap enough to replace most human drivers. Advanced Driver Assistance Systems are a set of sensors, cameras, and radar systems that let self-driving cars process billions of data points every second (ADAS). At the moment, 20% of cars have ADAS, but that number is expected to rise over the next few years. In electric vehicles, cameras, radars, and sensors all use different kinds of glue. With the development and sale of self-driving electric cars, the demand for adhesives for EVs will rise in the near future. This will open up opportunities for companies that make EV adhesives.
- Increasing Innovations and Advancements
Sustainability, durability, and safety of battery packs are expected to get a lot of attention in the coming years. At the moment, companies in the electric vehicle adhesives market are likely to focus on making new thermally conductive interface materials that make it easier to put together the batteries of electric vehicles or hybrid electric vehicles. For example, DuPont showed new ways to put together batteries for electric or hybrid electric vehicles. Also, companies are getting better at making adhesive solutions for both small needs and large-volume assemblies. This will likely create a lot of growth opportunities for the electric vehicle adhesives market in the coming years.
During the forecast period of 2022–2029, the lithium market is expected to grow as a result of a number of factors. These factors include research and development, technological progress, and the location of businesses.
- Robotic, Driverless and Self-Parking Segments
Autonomous electric vehicles are electric cars that can park themselves, drive themselves, or be driven by robots. By 2030, it is expected that self-driving cars will be reliable and cheap enough to replace most human drivers. Autonomous vehicles use Advanced Driver Assistance Systems (ADAS) to process billions of data points every second from sensors, cameras, and radar systems (ADAS). At the moment, 20% of cars have ADAS, and it is expected that this number will rise over the next few years. In electric vehicles, the cameras, radars, and sensors all use different kinds of glue. As autonomous electric vehicles improve and become more common, the need for adhesives for EVs will grow in the near future. Because of this, companies that make EV glue will have a chance.
- In August 2021 - Sika AG bought Bexel Internacional S.A., a large company in Mexico that makes tile adhesives and stuccos.
- In February 2020 - H.B. Fuller bought some of the assets owned by DHM Adhesives, Inc. DHM is a company with its main office in Calhoun, Georgia, that sells hot-melt adhesives.
- In September 2019 - Sika AG bought Crevo-Hengxin, a Chinese company that makes silicone sealants and adhesives used in both industry and construction.
- In September 2022 - Henkel AG & Co. KGaA has bought the Thermal Management Materials business from Nanoramic Laboratories. This deal was finished. Henkel bought this company to improve the position of its Adhesive Technologies business unit in the growing markets for Thermal Interface Materials (TIM) by giving it more high-performance capabilities.
- In January 2022 - H.B. Fuller Company announced that it had finished buying Apollo, the largest independent maker of liquid adhesives, coatings, and primers for the roofing, industrial, and construction markets in the UK.
- In April 2021 - The Yokohama Rubber Co., Ltd.'s glue business, Hamatite, was bought by Sika AG. In Japan, Hamatite is the market leader for adhesives and sealants for the construction and auto industries. The purchase helped the company strengthen its position in the Japanese market and get closer to all of the major Japanese OEMs.
- In September 2019 - Sika AG bought a Chinese company called Crevo-Hengxin. Crevo-Hengxin makes silicone sealants and adhesives that are used in both industry and construction. With this takeover, Sika AG increased its presence in China and other Asia-Pacific countries in the Target Markets Industry and Sealing & Bonding areas.
- In October 2021 - Wacker Chemie AG bought 60% of SICO Performance Material Co., Ltd., a company in Jining that makes specialty silane (China). WACKER and SICO signed an agreement that said the same thing. The deal will be done in the first half of 2022, after regulatory and antitrust approvals are given.
Top market players
Henkel AG & Co. KGaA (Henkel) makes and sells products for both consumers and businesses. There are adhesives, sealants, functional coatings, hair cosmetics, hair salon products, oral care, skin care, body care products, hard surface cleaners, toilet care, air care, and insect control products in the company's product line.
Chemical products are made by Bostik SA. The company sells a wide range of adhesives, sealants, resins, polymers, bonding solutions, and coatings for different uses.
The 3M Company does business in many different areas, including electronics, telecommunications, industrial, consumer and office, health care, safety, and more. The businesses that make up the Company share technologies, ways of making things, marketing channels, and other resources.
Sika is a leader in the development and production of systems and products for bonding, sealing, damping, reinforcing, and protecting in the building and automobile industries. Sika has branches in more than 100 countries and makes things in more than 300 factories.
Ashland Global Holdings Inc. (Ashland) is a company that offers solutions for specialty chemicals. It sells biofunctionals, cellulose ethers, vinyl pyrrolidones, and n-methylpyrrolidone. The company's products include thickening and rheology control, adhesive strength, water retention, film formation, binding power, conditioning and deposition, colloid stabilization, and suspension.
H.B. Fuller is one of the biggest adhesives companies in the world. They focus on improving adhesives, sealants, and other specialty chemical products to make products and people's lives better.
Parker Hannifin Corp., or "Parker," makes technologies and systems for moving and controlling things. The company provides important solutions for motion and control, such as fluid power systems, electromechanical controls, and other parts.
LORD Corporation (Parker LORD) is a company that makes glues, coatings, devices for managing motion, and technologies for sensing. It sells electronic materials, flight control equipment, specialty chemicals, tactile feedback devices, active vibration control systems, and vibration and motion control.
DuPont de Nemours, Inc. makes and sells materials and solutions based on technology. The company sells a wide range of things, including building materials, adhesives, electronics, fabrics, fibers, home and garden products, medical devices, resins, printing supplies, and consumer goods. DuPont de Nemours works with companies around the world in the energy, automotive, construction, government, military, safety, packaging, and security industries.
As a branch of Jowat SE, the Jowat Corp. was set up in 1979. (established in 1919). The company makes adhesives that are used in industries like wood and furniture, paper and packaging, construction, structural wood, upholstery, mattress and foam converting, graphics and bookbinding, automotive, textile, and assembly.
PPG Industries Inc. (PPG) is a chemical company that makes and sells paints, coatings, optical products, and other special materials. It makes sealants, coatings that protect and look nice, and amorphous precipitated silicas.
L&L Products Inc. makes static seals, reduces vibrations, and makes composite parts. The company works with the automotive, aerospace, commercial vehicle, and industrial applications industries around the world to provide sealing, acoustic, structural reinforcement, and other related solutions.
Permabond is one of the biggest companies that makes engineering adhesives. It sells high-quality industrial adhesives all over the world. Permabond has offices in the Americas, Europe, and Asia, and a network of distributors all over the world to help you with your bonding and sealing needs.
Wacker Chemie AG (Wacker), which is a division of DR. Alexander Wacker Familiengesellschaft mbH, is a chemical company that creates, makes, and sells products that have to do with silicon and ethylene. It has a variety of siloxanes, silicone fluids, silicone emulsions, resins, elastomers, pyrogenic silica, and silanes.
The market is segmented on the basis of resin type, form type, vehicle type, application and region.
By Resin Type:
The market is divided into Epoxy, Polyurethane, Silicone, Acrylic, and Other resins. During the forecast period, the polyurethane adhesive is expected to grow at the fastest rate in the market for adhesives for electric vehicles. Most of the time, these glues are used to hold things together structurally or to stop vibrations or changes in gap size caused by temperature differences between the two surfaces. Polyurethane adhesives are usually put on composites, thermoplastics, coated or uncoated aluminum, and steel that has been coated. This glue is also used to bond the battery cells to the tray, frames, and cooling units of the battery module.
By Form Type:
The market is split into film & tape, liquid, and other segments based on the type of form. Most of the market is expected to come from the liquid segment, since putting a liquid adhesive between two substrates makes a solid substance that fuses the substrates through a physical or chemical reaction. In the form sector, liquid adhesives make up most of the market. Liquid adhesives are used in many parts of electric cars, including the outside, the inside, and the electric batteries. When it comes to liquid adhesives, the most common use is outside, followed by inside. In the case of an electric car, a lot of liquid glue is put on the body to hold it together. Liquid adhesives make up a big part of the Electric Vehicle Adhesives Market by form. This is because a lot of liquid adhesive is used to build the body of an electric vehicle.
- Film & Tape
By Vehicle Type:
Battery Electric Vehicles and Plug-in Hybrid Electric Vehicles are the two main types of vehicles on the market. In the coming years, plug-in hybrid electric vehicles are expected to make up the largest share of the market. PHEVs have both gas and electric engines, and they are put together with a variety of glues and bonding materials. Glues are used in different parts of an electric car, such as the battery modules, power electronics, motors, and structural parts.
These glues are necessary to make sure that the parts of the car are reliable and strong. Electric Vehicle Adhesives must have certain qualities, such as high strength, flexibility, and durability, to meet the needs of PHEV applications. PHEVs have to work in tough conditions, like high temperatures and vibrations, which can cause parts to wear out and break. So, the glues used in PHEVs must be strong enough to keep the parts together even when they are under a lot of pressure.
- Battery Electric Vehicle
- Plug-In Hybrid Electric Vehicle
By Application Outlook:
The market is divided into pack & module bonding, battery cell encapsulation, thermal interface bonding, and others based on how they are used. The pack & module bonding segment is expected to have the largest market share. This is because adhesives are used to make the battery packs for electric powertrains. This has a number of benefits, such as making the battery pack safer and more reliable in a crash, making it lighter, and allowing it to stick to a wide range of surfaces and uncoated metal.
- Pack & Module Bonding
- Battery Cell Encapsulation
- Thermal Interface Bonding
The global Electric Vehicles Adhesive market has been broken down by geography into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa (MEA).
Asia-Pacific had 52.2% of the total volume in 2019. China makes more electric cars than any other country, so the area is a big buyer. But market growth is likely to stay slow in 2020 and 2021 because of the global COVID-19 pandemic, which is thought to have started in China. As of March 2020, the production of electric vehicles was affected by the availability of workers and raw materials, which in turn affected the demand for adhesives.
During the forecast period, North America is expected to have the fastest-growing market, with a volume-based CAGR of 27.1%. This is because more money is being put into making EVs. For example, in July 2019, LG Chem said it wanted to build a second plant in the U.S. to make batteries for electric cars. LG Chem is a well-known company that makes batteries and sells them to big companies like General Motors (GM) and Volkswagen. The plant should start making things in 2022. The market is expected to grow because more batteries and electric vehicles are being made in this area.
Europe is one of the most important parts of the market, and its revenue is expected to grow at a CAGR of 21.1% over the next few years. As production and promotion of electric vehicles become more important in the coming years, adhesives are likely to be in high demand. For example, the British electric car company Arrival wants to make electric cars as cheap as gas-powered cars so that more people will buy them.
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Scope of Report:
||Value (USD Billion)
||CAGR of 43.9% from 2023 to 2030
By Resin Type
|By Form Type
- Film & Tape
- Battery Electric Vehicle
- Plug-In Hybrid Electric Vehicle
- Pack & Module Bonding
- Battery Cell Encapsulation
- Thermal Interface Bonding
- Sika AG
- H.B. Fuller
- Parker Hannifin Corp
- Lord Corporation
- Jowat SE
- PPG Industries
- L and L Products
- Wacker Chemie AG
| Regional Scope
- North America
- The Middle East & Africa
- Latin America
|Reasons to Purchase this Report and Customization Scope
- 6-month post-sale analyst assistance.
- 10% Free Customization and 15 Company Profiles in addition to the ones specified
- The report looks at the key organizations and companies in the global market and compares them based on their product offerings, business overviews, geographic presence, business strategies, segment market share.
- The report also has a detailed analysis of what's going on with the companies right now, including product development, new ideas, joint ventures, strategic alliances, and other things.
- The report gives information about market trends and highlights the most important changes in the Electric Vehicles Adhesive Market.
- In addition to the things listed above, the report also talks about a number of other things that have helped the advanced market grow in recent years.