According to a new market report published by Lucintel, the future of sealants in the global automotive industry looks attractive with increasing penetration of lightweight materials and rising vehicle production. Sealants in the global automotive industry are forecast to grow at a CAGR of 7.1% from 2015 to 2020. The major growth drivers for this market are an increase in the usage of lightweight materials in vehicle manufacturing and replacement of mechanical gaskets to make vehicles lighter and to meet higher fuel economy. Corrosion and chemical resistance properties of sealants and their ability to reduce noise and vibration while providing significant cost savings are additional factors contributing to accelerated growth of the market.
In this market, polyurethane, plastisols, butyl, silicone, and other sealants are used for automotive applications. Lucintel predicts that the demand for polyurethane-based sealants will remain the largest segment due to its high compatibility with plastic and rubber. On the basis of its comprehensive research, Lucintel forecasts that polyurethane based sealants will witness the highest growth during the forecast period, supported by increasing penetration of light materials. Polyurethane sealants are high-performance sealants, noted for their elasticity and excellent abrasion resistance.
In terms of sealants in the automotive industry, the passenger car segment is expected to remain the largest segment by value and volume consumption. Development of sealing and bonding technologies for applications in the automotive industry is expected to spur growth for this segment over the forecast period.
Asia Pacific is expected to remain the largest market due to an increase in production of cars and light commercial vehicles in China and India. Europe and North America are expected to witness significant growth over the forecast period due to increasing penetration of sealants and increasing in automotive production.
For market expansion, the report suggests innovation and new product development, so that the unique characteristics of sealants can be capitalized. The report further suggests the development of partnerships with customers and the development of low-cost solutions for end users.
The emerging trends, which have a direct impact on the dynamics of the industry, include increasing use of composites and lightweight materials in the automotive industry; also, the demand for better insulated cabins in passenger cars is generating opportunities for the use of sealants. Henkel AG & Co KGaA, 3M Company, The Dow Chemical Company, and Sika AG are among the major suppliers of automotive sealants. There are some companies that are opting for M&A as a strategic initiative for driving growth.
Lucintel, a leading global strategic consulting and market research firm, has analyzed sealants in the global automotive industry by vehicle, resin, application type, and region and has come up with a comprehensive research report, “Growth Opportunities for Sealants in Global Automotive Industry 2015-2020: Trend, Profit, and Forecast Analysis.” The Lucintel report serves as a springboard for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for sealants in the global automotive industry through 2020, segmented by vehicle, resin, application type, and region as follows:
By vehicle type [volume (million pounds) and $ million shipment from 2009 to 2020]
· Passenger Cars
· Light Commercial Vehicles
By product [volume (million pounds) and $ million shipment from 2009 to 2020]
· Polyurethane Sealants
· Plastisol Sealants
· Butyl Sealants
· Silicone Sealants
· Other Sealants (Polysulfide Sealants and Silyl Modified Sealants)
By region [volume (million pounds) and $ million shipment from 2009 to 2020]
· North America
· Europe
· Asia Pacific
· Rest of World
By application [volume (million pounds) and $ million shipment for 2014 and 2020]
· Interior Application
· Exterior Application
This 140-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link…http://www.lucintel.com/reports/chemical_composites/growth_opportunities_for_sealants_in_global_automotive_industry_2015_2020_trend_forecast_and_opportunity_analysis_july_2015.aspx… or helpdesk@lucintel.com.
About Lucintel
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