The EV adhesives further provide flexibility in engineering and deigning of the vehicle owing to its capability to resist vibration, reduce overall weight and effectively distribute stress, which in turn is supplementing the industry size.
Dallas, United States - April 15, 2021 /MarketersMedia/ —
The global Electric Vehicle Adhesives market size is expected to expand over USD 3 billion by 2025. Electric Vehicle Adhesives is an adhering substance which provides adhesion between two parts without impacting their function. It provides a strong light bond between battery parts and allows smooth functioning of the components.
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The electric vehicle adhesives industry is fueled by a number of factors, including the fact that EV adhesives are used in a variety of applications in electric vehicles, including the exterior, interior, and battery. The transition from ICE (Internal Combustion Engines) to electric vehicles will be critical in driving up EV adhesive consumption. Globally, rising climate change issues and tighter pollution controls are driving the adoption of electric vehicles.
Electric vehicle adhesives are a form of adhering material that allows two parts to stick together without interfering with their work. It creates a strong light bond between the battery parts while also allowing the components to operate smoothly. Adhesives have the ability to provide versatility while also possessing strong adhesion characteristics, resulting in the industry's growth. It also decreases vibrations and aids in the absorption of impact without transmitting it to the components, which is hastening the industry's evolution.
Rising vehicle production, disposable income, rising population, the government initiatives to promote the production, the investment across the automotive industry, use of electric vehicles, and increasing research and development activities to develop market adhesion are all important factors driving the global market growth. Likewise, the growing potential for autonomous EV growth and growing modernization in the automotive industry would create several opportunities for the EV adhesives industry in the coming years.
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With an undeniable increase in the number of electric vehicles on the road around the world, manufacturers are constantly looking for new ways to minimize vehicle weight while still improving vehicle design. Companies in the existing electric vehicle adhesives industry are able to use their knowledge to effect these improvements. Adhesives for electric vehicles have emerged as a viable solution to these problems.
However, among other factors acting as restraints, the restricted availability of charging stations, the increased upfront cost of electric vehicles, and a lack of standardization, while the inadequate range of EVs will further hamper the market's growth over the forecast period. Since Asia-Pacific has the world's largest producer of electric vehicles, a growing automotive industry, and a growing population, it dominates the electric vehicle adhesives market. Due to the increasing growth in vehicle demand, the growing production of batteries and EVs, and the investments in electric vehicle manufacturing in the region, North America is likely to lead the market in terms of EV adhesives market development.
The major players operating across the global Electric Vehicle Adhesives market include Henkel, H.B. Fuller, 3M, Sika AG, Wacker Chemie AG, L&L Products, Bostik SA, and Ashland including others. The industry for Electric Vehicle Adhesives is integrated with the participation of established global players across the globe. In addition, these companies are focusing on expanding their footprint through implementation of inorganic as well as organic strategies which in turn is proliferating the business outlook.
Segment overview of Electric Vehicle Adhesives market
Form Overview, 2018-2025, (USD Million and Tons)
Liquid
Film & Tape
Others
Resin Overview, 2018-2025, (USD Million and Tons)
Polyurethane
Epoxy
Silicone
Acrylic
Others
Application Overview, 2018-2025, (USD Million and Tons)
Powertrain System
Exterior
Interior
Vehicle Type Overview, 2018-2025, (USD Million and Tons)
Electric Car
Electric Bus
Electric Truck
Electric Bike
Regional Overview, 2018-2025, (USD Million and Tons)
North America
U.S.
Canada
Mexico
Europe
UK
Germany
Italy
Rest of Europe
Asia Pacific
China
India
Japan
Australia
Rest of Asia Pacific
Middle East & Africa
Saudi Arabia
Rest of Middle East & Africa
South America
Brazil
Argentina
Rest of South America
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Website: https://www.adroitmarketresearch.com/industry-reports/electric-vehicle-adhesives-market
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