You are the owner of this page.

Electric Vehicles Adhesives Market Size Worth $329.5 Million By 2027: Grand View Research, Inc.

Electric Vehicles Adhesives Market Size Worth $329.5 Million By 2027: Grand View Research, Inc.
Grand View Research, Inc. - Market Research And Consulting.
The global electric vehicles adhesives market size was valued at USD 39.3 million in 2019 and is anticipated to grow at a compound annual growth rate (CAGR) of 26.6% from 2020 to 2027.

The global electric vehicles adhesives market size is expected to reach USD 329.5 million by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 26.6% from 2020 to 2027. Rising preference for adopting environmental friendly vehicles in order to curb carbon footprints of the earth is expected to boost the market growth over the forecast period.

Adhesives play a major role in electric vehicles (EVs) by not only reducing their weight but also enhancing their efficiency. Adhesives are used for several applications in EVs, such as component joining and protecting them against shock and vibration damages, helping in making a path for conducting the heat away from modules and cells by isolating the components, and preventing the risk of fire by reducing shorts. Such advantages are propelling the consumption of adhesives in the EV market.

Adhesives are majorly used in module and pack bonding, followed by thermal interface bonding and battery cell encapsulation. The heat generation and thermal management are serious concerns in EVs. As a result, the battery manufacturers ought to use thermal interface materials, such as adhesives, over mechanical fasteners for smooth functioning. Adhesives used for thermal interface bonding possess good thermal conductivity, mechanical stability, and vibration and environment resistance.

Asia Pacific was the largest regional segment as of 2019 and it is anticipated to maintain its lead over the forecast period. The region is the major consumer as China is the largest manufacturer of EVs in the world. However, amidst the Covid-19 pandemic across the world, which has been reported to originate in China, the market growth is expected to remain sluggish in 2020-21. The unavailability of workers and raw materials has impacted the manufacturing of EVs as of March 2020, which has impacted the demand for adhesives.

Germany electric vehicles adhesives market size, by vehicle type, 2016 - 2027 (USD Million)

Request a sample Copy of the Global Electric Vehicles Adhesives Market Research Report @ https://www.grandviewresearch.com/industry-analysis/electric-vehicle-adhesives-market/request/rs1

The market growth is expected to pick up from 2021, which is expected to be fueled by favorable government policies, coupled with rising initiatives in the EV market in countries, such as Singapore, India, and China. For instance, in February 2020, an EV startup in Bengaluru, Karnataka, India, launched a low-cost smart EV charging station called the “Kirana Charzer”, which costs only ₹10,000 and shall enable the installation of charging stations at small shops. Increasing number of charging stations across Asia is an indication towards rising number of EVs on Asia roads. For example, there are over 1,200 electric chargers in Singapore and 2,000 in Hong Kong.

The adhesives industry is marked by the presence of both small and large players, such as Henkel, Sika AG, H.B. Fuller, 3M, and Lord Corporation. Considering the rapid growth of EVs over the coming years, the key manufacturers are adopting various strategies, such as collaboration with other companies, to gain a competitive edge in the market.

For example, in March 2020, Henkel and Covestro developed a solution, which was able to fix cylindrical lithium-ion battery cells in a plastic cell holder. This development shall prove fruitful for both OEMs and customers as it shall provide a cost-efficient large scale cell assembly for the OEMs and reduced EV prices for the customers. Growing emphasis on technological advancements in the market is anticipated to positively influence market growth over the coming years.

Growth in the aerospace and EV industry propelled Parker Hannifin Corporation to acquire Lord Corporation, a leading adhesive manufacturer, for USD 3.68 billion in 2019. The deal offered a vital and huge product expansion for the company’s engineered materials unit, considering Lord Corporation’s CoolTherm-branded thermal management solutions and other adhesives, which are anticipated to prove fruitful for company’s sales on account of increasing production of EVs across the globe.

Key suggestions from the report:

The market growth is expected to pick up from 2021, which is expected to be fueled by favorable government policies, coupled with rising initiatives in the EV market in countries, such as Singapore, India, and China. For instance, in February 2020, an EV startup in Bengaluru, Karnataka, India, launched a low-cost smart EV charging station called the “Kirana Charzer”, which costs only ₹10,000 and shall enable the installation of charging stations at small shops. Increasing number of charging stations across Asia is an indication towards rising number of EVs on Asia roads. For example, there are over 1,200 electric chargers in Singapore and 2,000 in Hong Kong.

The adhesives industry is marked by the presence of both small and large players, such as Henkel, Sika AG, H.B. Fuller, 3M, and Lord Corporation. Considering the rapid growth of EVs over the coming years, the key manufacturers are adopting various strategies, such as collaboration with other companies, to gain a competitive edge in the market.

For example, in March 2020, Henkel and Covestro developed a solution, which was able to fix cylindrical lithium-ion battery cells in a plastic cell holder. This development shall prove fruitful for both OEMs and customers as it shall provide a cost-efficient large scale cell assembly for the OEMs and reduced EV prices for the customers. Growing emphasis on technological advancements in the market is anticipated to positively influence market growth over the coming years.

Growth in the aerospace and EV industry propelled Parker Hannifin Corporation to acquire Lord Corporation, a leading adhesive manufacturer, for USD 3.68 billion in 2019. The deal offered a vital and huge product expansion for the company’s engineered materials unit, considering Lord Corporation’s CoolTherm-branded thermal management solutions and other adhesives, which are anticipated to prove fruitful for company’s sales on account of increasing production of EVs across the globe.

Global electric vehicles adhesives market share, by application, 2019 (%)

Have Any Query? Ask Our Experts @ https://www.grandviewresearch.com/inquiry/7116/ibb

Grand View Research has segmented the global electric vehicles adhesives market on the basis of vehicle type, application, and region:

Electric Vehicles Adhesives Vehicle Type Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2027)                                                                                                                                    

  • Battery Electric Vehicle
  • Plug-in Hybrid Electric Vehicle

Electric Vehicles Adhesives Application Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2027)

  • Pack & Module Bonding
  • Thermal Interface Bonding
  • Battery Cell Encapsulation
  • Others

Electric Vehicles Adhesives Regional Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2027)

  • North America
    • U.S.
  • Europe
    • Germany
    • U.K.
    • France
    • Netherlands
    • Norway
  • Asia Pacific
    • China
    • Japan
  • Central & South America
  • Middle East & Africa

List of Key Players of Electric Vehicles Adhesives Market

  • Henkel
  • Sika AG
  • H.B. Fuller
  • 3M
  • Lord Corporation
  • Ashland
  • Bostik
  • Jowat SE
  • Parker Hannifin Corp
  • PPG Industries
  • Permabond
  • Wacker Chemie AG

Find more research reports on Advanced Interior Materials Industry, by Grand View Research:

High Purity Alumina Market - The global high purity alumina market was valued at USD 1.83 billion in 2018 and is expected to grow at a CAGR of 20.3% from 2019 to 2025.

Electrical Steel Market - The global electrical steel market size was USD 24.85 billion in 2018 and is anticipated to grow at a CAGR of 7.2% in terms of revenue from 2019 to 2025.

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist - U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/electric-vehicle-adhesives-market


Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.