The Germany automotive adhesives and sealants market is projected to reach $1,156.8 million by 2023, according P&S Market Research.
The market growth is mainly driven by the expanding domestic demand as well as exports for German automobiles such as passenger cars and commercial vehicles.
Automotive adhesives and sealants are the substances that are used for various bonding and sealing applications in the automotive industry. These materials are chemically similar but functionally different. They help in improving driving comfort, performance, reliability, and safety of vehicles.
Insights into market segments
On the basis of type, epoxy was the most widely consumed adhesive and sealant in German automotive industry. Epoxy-based adhesives and sealants offer excellent properties such as higher strength bonds, resistance to chemicals, shock, and impact. Such favorable properties are attributing to the largest share of the category in the Germany automotive adhesives and sealants market.
Germany is the one of the largest automotive manufacturers in the world. In Europe, it is the leading automotive market, accounting for significant proportion of total sales of passenger cars in the region. The German made cars have large international market, which results in high exports of automobiles from the country. Besides this, the country has a growing production base for electric vehicles, which has emerged as a growing automotive segment in the recent years. With the rising production base of German automobiles, the Germany automotive adhesives and sealants market is expected to rise during the forecast period.
Browse report overview with detailed TOC on "Germany Automotive Adhesives and Sealants Market by Type (Epoxy, Acrylics, Polyurethanes, Rubber, Polyvinylchloride, Silicones, Hot Melts), by Application (BIW, UTH & Power Train, Paint Shop, Assembly) – Market Size, Share, Development, Growth and Demand Forecast, 2013–2023" at:https://www.psmarketresearch.com/market-analysis/germany-automotive-adhesives-and-sealants-market
Rising epoxy-based adhesives and sealants consumption are expected to drive the market growth
In Germany, epoxy-based adhesives and sealants are witnessing rapid surge in consumption, for the production of various automotive components. The dominance of this category in the automotive adhesives and sealants market is due to its strong bonding capability, higher resistance against moisture, and ease of application. Additionally, they offer higher, durability, flexibility, and good impact resistance. Epoxy based adhesives and sealants are used during the production of signal lights, headlights, and are also used during the bonding of bumpers in the vehicles. Owing to its extensive consumption, epoxy-based solutions are expected to drive the Germany automotive adhesives and sealants market.
Electric vehicles are laying opportunities for the market players
Over the recent years, Germany is one of the emerging market for electric vehicles in the world as large number of owners of electric vehicles are opting for environment friendly mobility solutions. The government of Germany, under its national plan to achieve 1 million electric cars on German roads by 2020, offers various tax incentives to car manufacturers in order to bring down the overall prices of electric vehicles. The rising production of electric vehicles offers growth opportunities for Germany automotive adhesives and sealants market.
Some of the major players operating in the Germany automotive adhesives and sealants market are Henkel AG & Co. KGaA, DowDuPont Inc., Sika AG, 3M Company, H.B. Fuller Company, and tesa SE.
GERMANY AUTOMOTIVE ADHESIVES AND SEALANTS MARKET SEGMENTATION