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Revenues of US Auto Adhesives to Grow at a CAGR of More than 5% from 2014-19: TechSci Research

Published on 2014-06-18. Author : SpecialChem

Growing environment concerns, increasing inclination towards fuel efficient vehicles and changing federal regulations to drive US automotive adhesives through 2019.

US automotive industry is the second largest in world and has been witnessing growth revival post 2008 recession. Use of automotive adhesives in light vehicles is witnessing significant increase within the automobile market. The crucial driving factor for this trend is the imperative need to reduce vehicle weight without compromising the structural integrity and strength of a vehicle. In order to address weight reduction requirements, companies are increasing the usage of lightweight materials such as plastics, composites and aluminum, in automotive exterior as well as interior applications. As composites are made up of dissimilar substrates, automotive structural adhesives offer a viable bonding technique for joining these composites.

According to a recently published report by TechSci Research, “United States Automotive Adhesives Market Forecast & Opportunities, 2019”, the country’s automotive adhesives market revenues are forecast to grow at a CAGR of more than 5% during 2014-19.Henkel, Dow, H.B. Fuller and EFTEC are some of the major automotive adhesive suppliers in the US. The report reveals that the North Central region of the US accounts for the highest demand for these adhesives as the big three auto majors (Ford, General Motors and Chrysler) are situated in this region.

The US government has been targeting inclusion of around 1 million electric vehicles by 2015. These vehicles contain heavy batteries and have low mileage issues. To overcome this problem, the body weight of the vehicles needs to be decreased by using composites. As adhesives are most suitable for joining composites in vehicles, their demand is expected to rise in the country over the next few years.

“Light weighting trend is driving the demand for structural automotive adhesives in the US automotive industry. The necessary requirement for manufacturers to abide by governmental regulations on fuel economy and weight standards coupled with tax redemptions on electric vehicles is expected to positively influence the market for light vehicles, thereby boosting market size for automotive adhesives over the next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“United States Automotive Adhesives Market Forecast & Opportunities, 2019” has analyzed the potential of the automotive adhesives market and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges faced by the industry.

About TechSci Research

TechSci Research is a global market research and consulting company which provides research based consulting solutions to its customers worldwide, spanning a range of verticals. The company provides syndicated research reports, custom research solutions and data analytics services for a variety of industry verticals including IT & Telecom, Water & Water Recycling, Consumer Goods and Retail, Automotive and Energy & Power. These solutions and services includes Market Sizing Studies, Customer Satisfaction Studies, Competitive and Business Intelligence, Channel Partner Research, Market Opportunity Assessment, Brand Assessment and Buyer Behavior Studies and many more… TechSci Research is committed to assisting customers worldwide with their unique needs by providing them with comprehensive, value-added solutions and professional, personal service. TechSci Research employs the industry's best-trained industry.

Source: TechSci Research

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