Automotive Coatings, Adhesives, Sealants Market Growth, Size, Share and Forecast

According to Stratistics MRC, the Global Automotive coatings, adhesives, sealants Market is accounted for $10.83 billion in 2015 and is expected to grow at a CAGR of 5.3% to reach $15.51 billion by 2022. Some of the key drivers for the automotive coatings market growth are availability of various types of coatings and rapid growth in the production of medium and heavy vehicle. The adhesive and sealants market is primarily driven by the huge demand from emerging economies, advancement in chemical technology and driving comfort. Sealants are mainly bolstered by the electronics and automotive industries.

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The stringent regulations of EPA and REACH (Registration, Evaluation, Authorization and Restriction of Chemicals) in the global market lead the adhesive and sealants manufacturing industry to shift technology from solvent-based adhesives to solid adhesives. Furthermore, Liquid gasket’s ability to reduce noise and vibration will provide platform for market opportunities. However, the increasing raw material costs, changing environmental regulations are enforcing manufacturers to produce products with organic compounds considering health and safety issues, which acts as a key challenge for the players in the market.

Original equipment manufacturers (OEMs) occupied the largest share in the market. By Application, Exterior segment leads the market followed by interior. Asia Pacific is leading the global automotive coatings, adhesives, and sealant market followed by Rest of the World. Europe and North America still continue to use majority of adhesives and sealants.

Some of the key players in global Automotive Coatings, Adhesives and Sealants market are ADCO Global, Akzo Nobel, Arkema SA, Ashland Incorporated, BASF SE, Bayer AG, Bemis Associates, Cytec Industries, Dow Chemical Company, DuPont (EI) de Nemours,...