How is Growing Demand for Higher Vehicular Safety Boosting Sales of Automotive Adhesives and Sealants?

Automotive adhesives and sealants are rapidly becoming the latest buzzwords in the automotive industry. The mushrooming requirement for luxury vehicles and the rapid incorporation of advanced driver assistance systems (ADAS) in both commercial vehicles and passenger cars are pushing up the demand for automotive adhesives and sealants, especially in North America. Moreover, the ballooning popularity of lightweight vehicles, on account of their high fuel efficiency, is causing a steep rise in the sales of these materials across the world.

To learn more about this report: https://bit.ly/3aq3EOB

Apart from the aforementioned factor, the rapid enactment of strict safety standards and policies regarding automobiles is also driving the demand for automotive adhesives and sealants around the world. As these materials provide strength to various vehicle parts, they are increasingly being used in vehicles enhancing vehicular safety. In addition to this, automotive adhesives have the ability to absorb the impact of accidents and head-on collisions. This makes them highly integral for improving vehicular safety. 

Due to the above-mentioned factors, the demand for automotive adhesives and sealants are surging sharply all over the world. This is subsequently fueling the expansion of the global automotive adhesives and sealants market. As a result, the value of the market is predicted to surge from $7,438.2 million in 2019 to $12,646.8 million by 2030. According to various estimates, the market would advance at a CAGR of 7.0% from 2020 to 2030.

Globally, the automotive adhesives and sealants market would register the fastest growth in Asia-Pacific (APAC) in the future years, as per the forecast of P&S Intelligence, a market research company based in India. This would be due to the surging investments being made by several European automakers for expanding their operations in the Southeast Asian market. Additionally, the soaring disposable income of people in the developing countries will further boost the market advancement in the region in the coming years. 

Hence, it is safe to say that the sales of automotive adhesives and sealants would explode all over the world in the coming years, mainly because of the rising demand for lightweight vehicles and the growing requirement for higher vehicular safety.

Read More: https://www.psmarketresearch.com/market-analysis/global-automotive-adhesive-and-sealant-market

Comments

Post a Comment

Popular posts from this blog

Surging E&P in Shale Gas Reserves Propelling Demand for Well Cementing

Image
With the surge in exploration and production (E&P) activities in both unconventional and conventional oil and gas reserves, the demand for well cementing is growing rapidly all over the world. Moreover, because of the recovery of crude oil prices, the oil and gas industry is booming, which is, in turn, propelling the requirement for well cementing. The soaring E&P investments in countries such as China, Russia, Brazil, and the U.S. are fueling the expansion of the well cementing industry. Due to the above-mentioned factors, the demand for well cementing is rising sharply across the world. This is fueling the progress of the global well cementing market. The valuation of the market is predicted to grow from $7,577.6 million in 2018 to $10,065.4 million by 2024. Furthermore, the market is predicted to progress at a CAGR of 4.7% between 2019 and 2024. Well cementing is used in shale gas, oil, and gas wells.  Out of these, the requirement for well cementing is predicted to gro...
Read more

How Will Cooling Appliance Demand Propel Insulation Market Growth?

Image
Factors such as the escalating demand for refrigerators and air conditioners, mounting infrastructure expenditure in developing countries, such as Brazil, China, India, and Russia, and increasing government support toward the installation of insulation systems in buildings are expected to drive the insulation market growth between 2018 and 2025. According to P&S Intelligence, the market will generate $101.3 billion revenue by 2025. Nowadays, governments of several countries are offering regulatory support to the installation of insulation products to improve energy efficiency.  The rising demand for air conditioners and refrigerators, on account of the soaring global temperature and the booming world population, is one of the major contributors to the market growth worldwide. The National Aeronautics and Space Administration estimates that the average surface temperature of the Earth has risen by 2.12 oF in 2020 since the late 19th century.  As per NASA, the years 2016 an...
Read more

Solar Encapsulant Industry Set to Exhibit Huge Expansion in Future

Image
The widescale installation of photovoltaic (PV) modules, continuous research and development (R&D) in solar cell technologies, and advent of crystalline silicon solar technology are expected to drive the market for solar encapsulant at a CAGR of 28.4% during the forecast period (2018–2023). The market generated a revenue of $1,036.0 million in 2017 and it is projected to generate $4,555.4 million by 2023. Moreover, the escalating awareness among people regarding the benefits of the solar cell technologies will propel market growth in the coming years. One of the prominent trends currently being observed in the solar encapsulant market is the rising incorporation of thin-film solar cell technology. This is mainly credited to the fact that the conventionally used crystalline silicon solar technology-based solar modules have high production costs and fragile nature. In addition to this, the thin-film solar cell technology has lower costs than the crystalline silicon solar technology ...
Read more