According to a new market report published by Lucintel, the future of South Korean automotive adhesives market looks good with opportunities in the passenger car and light commercial vehicle segments in the South Korean automotive adhesives market are expected to reach an estimated $423.6 million by 2021and forecast to grow at a CAGR of 6.8% by value from 2016 to 2021. The major drivers for growth of this market are growth in the production of light commercial vehicles and passenger car and increasing demand of lightweight materials.
Browse 19 market data tables and 58 figures spread through 94 pages and in-depth TOC on “South Korean automotive adhesives market” http://www.lucintel.com/adhesive_in_south_korean_automotive_industry_16_21.aspx
In this market, epoxy, polyurethane, and acrylic are the major adhesives by product type used in the automotive industry. On the basis of its comprehensive research, Lucintel forecasts that the polyurethane adhesive is expected to show above average growth during the forecast period.
Within the South Korean automotive adhesives market, the polyurethane adhesives segment is expected to remain as the largest market. It has better mechanical properties, and an increase in automotive production is expected to drive adhesives consumption, which would spur growth for this segment over the forecast period.
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In this market, passenger car is expected to remain the largest segment due to growth of passenger car production.
For business expansion, Lucintel’s report suggests innovation and new product development to reduce curing time, improve impact resistance, and improve high temperature resistance. The report further suggests the development of partnerships with customers to create win-win situations and development of low-cost solutions for customers.
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Emerging trends, which have a direct impact on the dynamics of the industry, include increasing use of composites and lightweight materials in automotive applications and development of fast cure adhesives. Henkel AG & Co KGaA, The 3M Company, HB Fuller, Sika AG, and Huntsman are the major supplier of adhesives in the South Korean automotive industry.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities for adhesives in the South Korean industry by product type, vehicle type, application type, and region, and has compiled a comprehensive research report entitled “Growth Opportunities for South Korean Automotive Adhesives Market 2016-2021: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a springboard for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions.
The study includes a forecast for the growth opportunities for adhesives in the South Korean automotive industry by product type, vehicle type, application type, and region, as shown below:
South Korean automotive adhesives market by product (Volume M lbs. and $ M Shipment from 2010 to 2021)
Epoxy Adhesives
Polyurethane Adhesives
Acrylic Adhesives
Other Adhesives
South korean automotive adhesives market by Vehicle (Volume M lbs. and $ M Shipment from 2010 to 2021)
Passenger Car
Light Commercial Vehicles
South korean automotive adhesives market by Application (Volume M lbs. and $ M Shipment for 2015 and 2021)
Structural components
Non-structural components
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This 94-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/toc/adhesive_in_south_korean_automotive_industry_16_21.aspx or helpdesk@lucintel.com.
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