According to a new Netscribes report published on Research on Global Markets, the Global Automotive Adhesives Market is expected to have a significant compound annual growth rate (CAGR) of 5.4% and generate a global revenue of USD 5.45 Bn by 2023.
The growth of the automotive adhesives market is driven by strong vehicle sales, technological advancements, roll-out of smart cars, and rising demand for sports utility vehicles and crossover utility vehicles.
However, Netscribes remains apprehensive about the changing technology of automotive adhesives, which is a concern for manufacturers since they have to constantly stay abreast with the latest market trends.
Key highlights of this report:
- Drivers and challenges in the global automotive adhesives market
- Historical, current and forecasted market size data for the segments based on technology (hot melt, water based, and solvent based)
- Historical, current and forecasted market size data for the segments based on types of vehicles (passenger vehicles, light commercial vehicles, and heavy commercial vehicles)
- Historical, current and forecasted market size data for the segments based on geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa)
- Analysis of the competitive landscape and profiles of major companies operating in the market
This report has been formulated and designed with the purpose of giving businesses a concise understanding of the demand for automotive adhesives across the globe, developing strategies based on the drivers, trends and highlights for each segment, and helping brands identify their major competitors and respond accordingly.
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