Automotive sealants are used for various bonding and sealing applications in the automotive industry. They help in improving driving comfort, performance, reliability, and safety of vehicles. Adhesive sealant also known as liquid gasket seal, has good sealing performance as compared to solid sealant and is widely used in automotive industry. Sealants currently being used in the automotive industry are mostly synthetic in nature, with raw materials such as vinyl acetate monomer, acrylics, polyester resins, epoxide resins, amine based resins, ethylene, and propylene among others. However, major industry participants are increasingly formulating innovative products using bio-based & renewable feedstock.
Automotive sealants are widely used across different segments from making sensor to producing chassis of a vehicle. Many high performance cars use lightweight composite materials which can’t be welded. Use of sealant is one the best solution that helps in keeping the weight minimal. Sealants also allow different materials to be joined together with an added advantage that rubber toughening present in sealants absorb vibration and impact forces.
Strict environmental regulations formulated by respective governments in order to limit carbon emissions is expected to drive the demand for lightweight bonding materials in place of conventional heavy metal fasteners.
Innovations in the industry, for instance, the introduction of a new silyl modified polymer (SMP) technology is expected to heighten the efficiency and safety standards for automobile manufacturers. Manufacturers are thus increasingly shifting towards water-based sealants, which are environment-friendly and contain a lower amount of VOCs. Riding on the back of these factors, the automotive high performance sealants market is anticipated to grow at a robust CAGR during the forecast period, i.e., 2019-2027. DOWNLOAD SAMPLE REPORT HERE
Automobile industry is keen on creating lighter vehicles to maximize the speed, power and efficiency of the vehicle. In this pursue, they are using lightweight materials including plastic, composites, and aluminum which are replacing the use of metals in the automotive manufacturing. These lightweight materials can’t be welded or bolted to keep them together. In order to achieve this objective, the adhesives and sealants are increasingly used by the manufacturers worldwide. Additionally, electric vehicles market is on upsurge owing to the initiatives to control vehicular emission taken by authoritative bodies. Most of the electric vehicles are lighter in comparison with conventional vehicles. Hence, increasing demand for lightweight vehicles is expected to drive the growth of the automotive adhesives and sealants market in upcoming years.
Welding of metals in automotive industry is traditional and is still considered to attain high operational efficiency among the industry players. Additionally, lack of awareness about advantages of using sealants as substitute of welding can hamper the growth of market.
Our-in depth analysis of the automotive high performance sealants market includes the following segments:
On the basis of regional analysis, the global automotive high performance sealants market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
Asia Pacific is anticipated to have leading shares in the market during forecast period owing to the high GDP, developing infrastructure and increasing purchasing power among the population in the region. China is expected to remain a leader in this region, owing to low labor costs, high population and presence of emerging markets in the country. Additionally, expanding automotive sector in India will help APAC to maintain its leading position. The market in Latin America will continue to showcase a constant growth based on the growing automotive sector in the region, thereby driving the demand for sealants. A rebounding automotive sector in the U.S. is anticipated to drive the demand for sealants in North America at a relatively higher pace. The region is also benefited from recent shale gas discovery and its subsequent market boom. It has impacted the profit attained by manufacturers positively which in turn would help downstream industries.
The global automotive high performance sealants market is further classified on the basis of region as follows:
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