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The global market for adhesives used in electric vehicles was worth $645 million in 2022 and is expected to be worth $13,254 million by 2030, expanding at a CAGR of 47% between 2023 and 2030.
An adhesive for electric vehicles is a material that can join two pieces of hardware without interfering with their ability to move freely or be disassembled. Fasteners and other mechanical fittings can be swapped out for adhesives instead. Its strong, lightweight, and thinner bond enables it to be used with a wider range of electric vehicle components, including the powertrain. In comparison to standard nuts and bolts, it is both flexible and strong, and it also has the potential to adhere materials that are otherwise quite different.
Increasing demand for eco-friendly, non-toxic adhesives is a major factor propelling growth in the worldwide electric vehicle adhesives market. Electric vehicle adhesives are predicted to rise as they are increasingly used in end-user sectors in place of conventional adhering and binding methods such clasping, mechanical screwing, and welding. Over the next years, the "polyurethane" type segment of the market will expand at the fastest rate because of the material's rapid curing, excellent bonding strength, and decreased assembly time. During the projection period, the market will also benefit from the rising need for adhesive bonding in several plastics, composites, and other lightweight materials in the production of electric vehicles.
The market for adhesives and bonding materials specifically designed for electric vehicles is booming, and the electric vehicle adhesives business is at the forefront of this expansion. Electric vehicle components, such as battery modules, power electronics, motors, and structural elements, rely heavily on adhesives to ensure their reliability and durability. The market for Electric Vehicle Adhesives (BEVs) is being driven by the increasing demand for electric cars, particularly plug-in hybrid Electric Vehicles (PHEVs) and battery Electric Vehicles (BEVs). PHEVs are now dominating the market because of their attractiveness as a transitional vehicle technology that combines the benefits of electric and internal combustion engines. The study, titled "Global Electric Vehicle Adhesives Market," is a comprehensive analysis of the industry. The research provides a thorough examination of the market's most important subsegments, trends, drivers, restraints, competitive landscape, and other variables.
Increased investment in EVs is just one of several recent occurrences related to the growing movement towards greener modes of transportation. Both public and private sectors are spending extensively in EV charging stations to facilitate the widespread adoption of electric vehicles. The US Department of Energy (DOE) announced USD 3.1 billion in funding from US President Joe Biden's Bipartisan Infrastructure Law in May 2022 as part of its infrastructure plan to increase domestic battery and component production, strengthen domestic supply chains, create good-paying jobs, and help lower costs for families. In February of 2023, the Biden-Harris administration unveiled new standards and made significant progress towards a nationwide network of EV chargers that were manufactured in the United States. The White House Fact Sheet for 2023 reports that US$7.5 billion has been spent on EV charging infrastructure, US$10 billion on clean transportation infrastructure, and more than US$7 billion on EV battery components, critical minerals, and materials thanks to President Biden's Bipartisan Infrastructure Act. To fulfil rising demand and comply with emissions rules, many manufacturers are making large investments in the production of electric vehicles. For instance, in 2021 General Motors pledged to invest USD 35 billion in EVs and AVs by 2025, and in the same year Ford pledged to invest USD 22 billion in EVs. Venture capital firms and other investors are pouring money into a wide variety of startups working on electric vehicles and related technology. For instance, electric truck company Rivian raised $2.5 billion led by Amazon in July 2021.
A self-parking, driverless, or robotic electric car is known as an autonomous electric vehicle. By the year 2030, it is anticipated that autonomous vehicles will be both dependable and inexpensive enough to replace most human drivers. Advanced Driver Assistance Systems (ADAS) in autonomous vehicles process billions of data points per second from a plethora of sensors, cameras, and radar systems. There has been a 20% increase in ADAS usage over the past year, and this trend is projected to continue. Various adhesives are used in electric vehicle cameras, radars, and sensors. There will soon be a rise in demand for EV adhesives as self-driving electric vehicles become more widely available. The market for EV adhesives is expected to grow as a result of this.
Report Coverage
Global Electric Vehicle Adhesives research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Electric Vehicle Adhesives report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Electric Vehicle Adhesives competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Electric Vehicle Adhesives market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Electric Vehicle Adhesives market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Electric Vehicle Adhesives market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
The major players are, Henkel AG & Co. KGaA (Germany), H.B. Fuller (US), Sika AG (Switzerland), 3M (US), Wacker Chemie AG (Germany), Arkema S.A. (France), Ashland Inc. (US), PPG Industries (US), Parker Hannifin Corporation (US), and Illinois Tool Works Inc. (US).
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Electric Vehicle Adhesives market based on the below-mentioned segments:
Global Electric Vehicle Adhesives Market, By Vehicle
Battery electric vehicle
Plug in hybrid electric vehicle
Global Electric Vehicle Adhesives market, By Application
Exterior
Interior
Powertrain
Global Electric Vehicle Adhesives Market, By End User
Pack & module bonding
Thermal interface bonding
Battery cell encapsulation
Others
Global Electric Vehicle Adhesives market, Regional Analysis
An adhesive for electric vehicles is a material that can join two pieces of hardware without interfering with their ability to move freely or be disassembled. Fasteners and other mechanical fittings can be swapped out for adhesives instead. Its strong, lightweight, and thinner bond enables it to be used with a wider range of electric vehicle components, including the powertrain. In comparison to standard nuts and bolts, it is both flexible and strong, and it also has the potential to adhere materials that are otherwise quite different.
Increasing demand for eco-friendly, non-toxic adhesives is a major factor propelling growth in the worldwide electric vehicle adhesives market. Electric vehicle adhesives are predicted to rise as they are increasingly used in end-user sectors in place of conventional adhering and binding methods such clasping, mechanical screwing, and welding. Over the next years, the "polyurethane" type segment of the market will expand at the fastest rate because of the material's rapid curing, excellent bonding strength, and decreased assembly time. During the projection period, the market will also benefit from the rising need for adhesive bonding in several plastics, composites, and other lightweight materials in the production of electric vehicles.
The market for adhesives and bonding materials specifically designed for electric vehicles is booming, and the electric vehicle adhesives business is at the forefront of this expansion. Electric vehicle components, such as battery modules, power electronics, motors, and structural elements, rely heavily on adhesives to ensure their reliability and durability. The market for Electric Vehicle Adhesives (BEVs) is being driven by the increasing demand for electric cars, particularly plug-in hybrid Electric Vehicles (PHEVs) and battery Electric Vehicles (BEVs). PHEVs are now dominating the market because of their attractiveness as a transitional vehicle technology that combines the benefits of electric and internal combustion engines. The study, titled "Global Electric Vehicle Adhesives Market," is a comprehensive analysis of the industry. The research provides a thorough examination of the market's most important subsegments, trends, drivers, restraints, competitive landscape, and other variables.
Increased investment in EVs is just one of several recent occurrences related to the growing movement towards greener modes of transportation. Both public and private sectors are spending extensively in EV charging stations to facilitate the widespread adoption of electric vehicles. The US Department of Energy (DOE) announced USD 3.1 billion in funding from US President Joe Biden's Bipartisan Infrastructure Law in May 2022 as part of its infrastructure plan to increase domestic battery and component production, strengthen domestic supply chains, create good-paying jobs, and help lower costs for families. In February of 2023, the Biden-Harris administration unveiled new standards and made significant progress towards a nationwide network of EV chargers that were manufactured in the United States. The White House Fact Sheet for 2023 reports that US$7.5 billion has been spent on EV charging infrastructure, US$10 billion on clean transportation infrastructure, and more than US$7 billion on EV battery components, critical minerals, and materials thanks to President Biden's Bipartisan Infrastructure Act. To fulfil rising demand and comply with emissions rules, many manufacturers are making large investments in the production of electric vehicles. For instance, in 2021 General Motors pledged to invest USD 35 billion in EVs and AVs by 2025, and in the same year Ford pledged to invest USD 22 billion in EVs. Venture capital firms and other investors are pouring money into a wide variety of startups working on electric vehicles and related technology. For instance, electric truck company Rivian raised $2.5 billion led by Amazon in July 2021.
A self-parking, driverless, or robotic electric car is known as an autonomous electric vehicle. By the year 2030, it is anticipated that autonomous vehicles will be both dependable and inexpensive enough to replace most human drivers. Advanced Driver Assistance Systems (ADAS) in autonomous vehicles process billions of data points per second from a plethora of sensors, cameras, and radar systems. There has been a 20% increase in ADAS usage over the past year, and this trend is projected to continue. Various adhesives are used in electric vehicle cameras, radars, and sensors. There will soon be a rise in demand for EV adhesives as self-driving electric vehicles become more widely available. The market for EV adhesives is expected to grow as a result of this.
Report Coverage
Global Electric Vehicle Adhesives research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Electric Vehicle Adhesives report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Electric Vehicle Adhesives competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Electric Vehicle Adhesives market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | The major players are, Henkel AG & Co. KGaA (Germany), H.B. Fuller (US), Sika AG (Switzerland), 3M (US), Wacker Chemie AG (Germany), Arkema S.A. (France), Ashland Inc. (US), PPG Industries (US), Parker Hannifin Corporation (US), and Illinois Tool Works Inc. (US). |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Electric Vehicle Adhesives Market from 2021 to 2030.
- Market Forecast for Electric Vehicle Adhesives Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Electric Vehicle Adhesives competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Electric Vehicle Adhesives
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Electric Vehicle Adhesives market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Electric Vehicle Adhesives market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
The major players are, Henkel AG & Co. KGaA (Germany), H.B. Fuller (US), Sika AG (Switzerland), 3M (US), Wacker Chemie AG (Germany), Arkema S.A. (France), Ashland Inc. (US), PPG Industries (US), Parker Hannifin Corporation (US), and Illinois Tool Works Inc. (US).
Primary Target Market
- Market Players of Electric Vehicle Adhesives
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Electric Vehicle Adhesives market based on the below-mentioned segments:
Global Electric Vehicle Adhesives Market, By Vehicle
Battery electric vehicle
Plug in hybrid electric vehicle
Global Electric Vehicle Adhesives market, By Application
Exterior
Interior
Powertrain
Global Electric Vehicle Adhesives Market, By End User
Pack & module bonding
Thermal interface bonding
Battery cell encapsulation
Others
Global Electric Vehicle Adhesives market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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