The Electric Vehicles Adhesives Market is Expected to Reach USD 5,829.6 Million by the End Of 2028 with a CAGR Of 45.1%

Electric Vehicles Adhesives
  • Electric Vehicles Adhesives Market

The Electric Vehicles Adhesives Market size is USD 438.9 Million and it is expected to reach USD 5,829.6 Million by the end of 2028, with aCompound Annual Growth Rate (CAGR) of 45.1% during the time interval 2022-2028. In the construction of electric car batteries, adhesives can be used to replace or eliminate the use of heavy metals. They enable a thinner and lighter bond on a few battery components, which can improve EV range, as well as the ability to attach different materials much faster with greater flexibility and strength than conventional nuts and bolts. Adhesive materials are designed to connect parts such as battery cells, battery module side panels, cooling plates, and more with great accuracy.

Sales of ICE vehicles are declining in many developed markets due to the strict exhaust standards. New release standards have been introduced in Europe, China, and the US; while in India, new release standards have been in effect since 2020. As a result, the availability of a model of heavy electric vehicles is also growing. The market for electric vehicles and Electric Vehicles Adhesives goes hand in hand. A major obstacle to the growth of the electric car industry is the high cost of the parts as the battery technology used is expensive. The limited number of charging stations is also an obstacle to the growth of the electric car market. Although the number of electric cars is growing, consumers are reluctant to rely on electric cars for fear of getting stuck in a place without a charging station. However, as the number of charging stations grows with the growth of electric vehicles, these concerns will disappear. The expectant growth in electric vehicles will present opportunities for the electric vehicle adhesive market.

Based on the type of resin the global electric vehicle adhesive market is divided into polyurethane, epoxy, acrylic, silicone, cyanoacrylate, and others. Among these, the polyurethane segment has a very high market share due to increased use in electric vehicles. Based on the form, the market is divided into film & tape, liquid, and others. Among these, liquid components have the highest market share. Liquid attachments have properties, such as the ability to form a long-lasting bond with cotton, polymers, and wood fibers. Based on the type of substrate, the electrical vehicle adhesive market is divided into plastic, composite, metals, and others. While based on the application, the market is divided into a powertrain system, external, internal. Among these, the external component is expected to hold the largest market share. External parts will be much needed and these are needed in bulk. They will be supplying these exterior parts to the vehicles. The global electrical vehicle adhesive market is divided into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. The Asia Pacific attests to rapid growth and holds a significant market share among all other regions. China has become the world's leading manufacturer of electric vehicles.

Some of the major companies in the Global Electric Vehicles AdhesivesMarketare Henkel AG & CO. KGAA (Germany), H.B. Fuller Company (US), Sika AG (Switzerland), 3M Company (US), Wacker Chemie AG (Germany), Bostik SA – An Arkema company (France), L&L Products (US), Jowat SE (Germany), Ashland (US), PPG Industries, Inc. (US), Lord Corporation (US), DELO Industrie Klebstoffe GmbH & Co. KGaA (Germany), Uniseal Inc. (US), Illinois Tool Works Inc. (US), and Permabond LLC (UK).