Various initiatives are being taken in the automotive industry for developing vehicles that are light in weight. As the focus towards fuel efficiency is rising, manufacturers are opting advanced ways to decreasing the weight of the weight of the vehicle. Since the weight of the vehicle directly impacts the fuel efficiency, manufacturers are investing widely in research & development for developing lightweight vehicles. Electric vehicles especially need to be light in weight for providing enhanced efficiency.

These days, manufacturers are using adhesives and sealants for bonding different parts of vehicles instead of steel fixtures, such as bolts and nuts. These adhesives provide the needed strength to the vehicle, while making sure that its weight is reduced. Ascribed to this, the global automotive adhesives and sealants market is registering substantial growth at the present time. Moreover, governments of different countries are implementing strict safety regulations and standards for automobiles. The rising number of road accidents have been compelling authorities to take severe steps for ensuring the safety of people.

Additionally, consumers are also becoming widely aware regarding safety of vehicles, owing to which, the demand for adhesives and sealants is growing as well. These products make sure that automobile parts are equipped with necessary strength. Furthermore, adhesives have the ability to absorb the impact of head-on collisions. This rising focus on vehicle safety is further projected to result in the growth of the market.

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The automotive adhesives and sealants market is predicted to reach a value of $12,646.8 million by 2030, increasing from $7,438.2 million in 2019, demonstrating at a 7.0% CAGR during the forecast period (2020–2030). In terms of type, the market is categorized into epoxy, silicones, acrylics, hot melts, polyurethanes, PVC, and rubber, out of which, the epoxy category accounted for the largest share of the market in 2019. This is because of the superior properties of epoxy adhesives, including rigid bonding, which aid in increasing the structural integrity of vehicle.

When vehicle is taken into consideration, the market is categorized into heavy & medium commercial vehicle, light commercial vehicle, and passenger cars, out of which, the passenger car category is expected to hold the major share of the market during the forecast period. The rising demand for passenger vehicles, owing to the high disposable income in India, China, and Brazil, is leading to the growth of the category.

Geographically, the Asia-Pacific region dominated the automotive adhesives and sealants market during the historical period (2015–2019), and the region is further predicted to witness the fastest growth during the forecast period. This is because of the quick development of urban infrastructure, increasing economic growth rate, and rising purchasing power of people in the region. In addition to this, technological advancements regarding adhesives are also helping manufacturing in producing fuel-efficient and lightweight vehicles.

In conclusion, the market is being driven by the rising demand for lightweight vehicles and increasing implementation of strict regulatory policies across the globe.