Electric Vehicle Adhesives Market
- Growth, Trends, Covid-19 Impact, and Forecast (20222028)
Global Electric Vehicle Adhesives Market was valued at USD 205.34 Million in 2021 and is expected to reach USD 894.70 Million by the year 2028, at a CAGR of 23.4%
Vehicle manufacturers declared increasingly progressive electrification plans. The leading major 20 key players, which represented over 90% of new car registrations in 2020, 18 have stated plans to widen their portfolio of models and to rapidly augment the manufacturing of light-duty electric vehicles. The growth of electric cars is turned by critical policy changes endorsed by economies in electric mobility. These economies have launched stricter emission standards in addition to incentives for electric vehicles (EV) and are encouraging investments in the EVs industry value chain to bring price parity between EV and ICE vehicles. The application of adhesives in electric vehicles is even more extensive than their utilization in conventional automobiles. Adhesives provide major advantages to both types of vehicles, including ease of use compared to welding, sealing, environmental resistance, thermal conductivity, electrically insulating, heat resistance, no odor adhesives, distributing stress, and joining dissimilar materials. The significance is of adhesives specific to electric vehicles such as thermal conductivity, bonding composites, and low surface energy plastics, decreasing weight, and electrical insulation.
The research study includes an examination of many aspects that contribute to the market's expansion. Market trends, restrictions, and drivers that have a favorable or negative influence on the market are included. This section also discusses the many businesses and applications that may have an impact on the market in the future. The information is based on both recent and historical patterns. The cost structure, market size, Electric Vehicle Adhesives Sales, Gross Margin and Market Share, Price, Revenue, Size, Forecast, and Growth Rate are all calculated in the report.
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• Metlok Private Limited.
• Permabond LLC.
• Wacker Chemie AG
• PPG Industries
• Riëd B.V.
• Sika AG
• Threebond Co.Ltd.
• Uniseal Inc and other major players.
The design of electric vehicles has to be lightweight to counter the weight of the battery system used in electric vehicles. The bonding of dissimilar materials is done with the help of structural adhesives to replaces fasteners, rivets, and spot welding, which contributes to reducing the weight of vehicles. The use of structural adhesives also addresses the issue of crashworthiness and safety of battery systems in electric vehicles. With the continuous development in technology, the consumption of adhesives in the exterior parts of electric vehicles will further increase during the forecast period.
Segmentation Analysis Includes,
By Type:
• Plug-in Hybrid Electric Vehicle (PHEV)
• Battery Electric Vehicle (BEV)
By Application:
• Pack & Module Bonding
• Thermal Interface Bonding
• Battery Cell Encapsulation
• Other
By Region:
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)
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Key Questions Answered in the Report:
• How is the Electric Vehicle Adhesives Market segmented by type?
• How is the Electric Vehicle adhesives market segmented by the application?
• What are the major opportunities in the Electric Vehicle Adhesives Market?
• Which region has the largest market for Electric Vehicle adhesives?
• Who are the major manufacturers of Electric Vehicle adhesives?
• What will be the CAGR of global electric vehicle adhesives market?
The technology used in the manufacturing the battery which is extremely important in the electric vehicles is expensive. It increases the cost of the electric vehicles. The use of the raw materials deeds and alternative in order to bring down the prices. The cost of acquiring these materials is also high which leads to an increase in the cost of the product. Electric vehicles are not affordable to many and this shall be a major restrained in the growth of the market. apart from the high cost associated with these vehicles turn availability of charging stations at frequent intervals is another restraint.
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There has been a great demand for electric vehicles in the developed nations. The stringent greenhouse gas emission policies in the developed nations will drive the market growth period in the countries like the United States and Europe many new standards for the emissions have been announced that have come into effect in the recent years period these standards have increased the adoption of electric vehicles in the developed nations. The major automobile manufacturers are increasing their amount of investments for the manufacturing of the electric vehicles.
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