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Automotive Adhesive Market Trends and Forecast

The future of the global automotive adhesive market looks promising with opportunities in passenger car and light commercial vehicles. The global automotive adhesive market is expected to reach an estimated $23.9 billion by 2030 with a CAGR of 11.4% from 2024 to 2030. The major drivers for this market are increasing demand for lightweight materials in vehicle manufacturing and replacement of mechanical fasteners with adhesives to make vehicles lighter and to meet higher fuel economy requirements.
  • Lucintel forecasts that polyurethane adhesive will remain the largest segment due to its low price, durability, and performance.
  • Adhesives for passenger car will remain the largest segment due to the growth in production of small and compact cars.
  • Asia Pacific will remain the largest market and it is also expected to  witness the highest growth over the forecast period due to growth in automotive industry in China, Japan, India, and other Asian countries.