New York, September 15, 2021 (GLOBE NEWSWIRE) – Reportlinker.com Announces the Release of the “Electric Vehicle Adhesives Market by Application, Resin Type, Substrate, Shape, Vehicle Type and Region – Global Forecast to 2026 “- https: //www.reportlinker.com/p05824469/? utm_source = GNW
In this report, the market has been defined as the adhesives used in electric vehicles (EVs). The types of electric vehicles considered are the electric car, the electric bus, the electric bicycle (2 wheels) and the electric truck. Polymer, composite and metal have been considered the primary substrates on which EV adhesives are used. The application of EV adhesives is increasing due to various requirements from automotive manufacturers, such as bonding of similar and dissimilar materials, substitution of traditional substrate materials with synthetic substrates, and increasing attention to environmental concerns. EV adhesives address various engineering and design issues because they have the ability to resist vibration, are lightweight, and allow stress distribution over a wide area.
Exterior application is expected to be the largest application segment in the electric vehicle adhesives market
The increasing production and sale of electric cars has increased the demand for batteries, electric motors, doors, instrument cluster, infotainment system, seats, various panels and charging outlets. Batteries are the most important components of electric cars because they provide energy to the car.
The car battery is heavier than other parts. In order to counter the weight of batteries and reduce the overall weight of electric cars, lightweight materials are used in electric car applications.
In the electric vehicle industry, adhesives are used in place of welds, screws, rivets, gaskets and fasteners, which allows automakers to make the vehicle lightweight. One of the concerns of electric vehicles is autonomy.
Automakers tackle this problem by increasing the capacity of the vehicle’s battery.
The design of electric vehicles should be lightweight to counter the weight of the battery system used in electric vehicles. Bonding dissimilar materials is done using structural adhesives to replace fasteners, rivets and spot welding, which helps reduce vehicle weight.
The use of structural adhesives also addresses the issue of impact resistance and safety of battery systems in electric vehicles. With the continuous development of technology, the consumption of adhesives in exterior parts of electric vehicles will further increase during the forecast period.
Polyurethane Expected to be the Largest Resin Type Segment in the Electric Vehicle Adhesives Market
The use of adhesives in electric vehicles is expected to increase during the forecast period. The various adhesive applications in electric vehicles require different types of adhesives derived from resins such as epoxy, polyurethane, silicone and acrylic.
Adhesives made of different resins have different properties and are chosen according to the specific application.
Polyurethane adhesives are made from urethane polymers. They exhibit extraordinary elasticity and elongation up to 600% before breaking.
There are three types of polyurethane adhesives, two-component polyurethane adhesives, one-component rigid polyurethane adhesives, and two-component elastic polyurethane adhesives. Bonds of polyurethane adhesives form in two stages: first, the adhesive cools to achieve hold-down strength, and second, the adhesive uses moisture to continue curing for hours or even days to achieve structural strength. final.
Electric cars to be the largest vehicle type segment in the electric vehicle adhesives market
The demand for electric vehicles is growing at a rapid rate due to growing environmental concerns, even as the sale of ICE vehicles is declining. The implementation of favorable policies for electric vehicles and technological advancements in the value chain will boost the electric vehicle market five years.
Growth of electric cars and buses is expected to drive the growth of electric vehicle adhesives during the forecast period.
Automakers have announced increasingly ambitious electrification plans. Of the top 20 global automakers, which accounted for around 90% of new car registrations in 2020, 18 have announced plans to expand their model portfolio and rapidly increase production of light vehicles. electric vehicles.
The growth of electric cars is being driven by critical policy changes adopted by leading countries in electric mobility. These countries have introduced more stringent emission standards in addition to incentives for electric cars and are encouraging investments in the electric vehicle industry value chain to bring price parity between electric vehicles and electric vehicles. ICE vehicles.
In an electric vehicle, adhesive technology plays an essential role in the lightness of the electric vehicle, as it is used in a number of applications. Growing electric vehicle markets such as Europe, APAC and North America will provide growth opportunities for electric vehicle adhesive manufacturers during the forecast period.
APAC accounts for largest EV adhesives market share by region
APAC accounted for the largest share of the electric vehicle adhesives market in 2020, followed by Europe and North America. Growing tensions in the U.S.-China trade war and low labor costs in China have forced various end-users of adhesives to relocate and establish their manufacturing base in countries around the world. ASEAN.
This relocation is expected to increase the demand for adhesives in ASEAN countries. India offers low cost labor, which can offer significant investment opportunities for businesses.
Government initiatives such as âMake in Indiaâ and the proposed government entrepreneurship development program may open up additional opportunities in the industrial construction and infrastructure segments. All of these factors are expected to drive the APAC market.
In-depth primary interviews were conducted to determine and verify the market size for several segments and sub-segments and the information gathered through secondary research.
The breakdown of primary interviews is shown below:
â¢ By type of business – Level 1 – 30%, Level 2 – 50% and Level 3 – 20%
â¢ By designation – level C – 40%, director level – 20% and others * – 40%
â¢ By region – North America – 10%, Europe – 40%, APAC – 30% and others ** – 20%
Notes: * Others include sales, marketing, and product managers.
** Other regions include South America, Middle East and Africa
Level 1:> 5 billion USD; Level 2: USD 1 billion to USD 5 billion; and level 3:
The companies presented in this market research report are Henkel (Germany), HB Fuller (United States), Sika AG (Switzerland), 3M (United States), Wacker Chemie AG (Germany), Bostik SA – An Arkema company (France), L&L Products (United States), Jowat SE (Germany), Ashland (United States), PPG Industries, Inc. (United States) and Permabond (United Kingdom) and others.
This research report categorizes the EV Adhesives market on the basis of application, resin type, vehicle type, substrate, shape, and region. The report includes detailed information on the major factors influencing the growth of the EV Adhesives market such as drivers, restraints, challenges, and opportunities.
A detailed analysis of major industry players has been performed to provide information on business overviews, products and services, key strategies, extensions, new product developments, acquisitions, and recent developments associated with the market.
Reasons to buy the report
The report will assist the market leaders / new entrants in this market in the following ways:
1. This report segments the EV Adhesives market comprehensively and provides the closest approximations of market sizes for the overall market and sub-segments across verticals and regions.
2. The report will help stakeholders understand the market pulse and provide them with insights into the major market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand the main competitors and obtain information to improve their position in the company. The competitive landscape section includes extensions, new product developments and joint ventures.
4. The report includes the impact of COVID-19 on the EV Adhesives market.
Read the full report: https://www.reportlinker.com/p05824469/?utm_source=GNW
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