Categories: Press Release

Additives Market for EV Adhesives and Sealants Anticipated to Become a USD 627.6 Million Landscape by 2032- BIS Research

The additives market for electric vehicle (EV) adhesives and sealants is at the forefront of a transformative era in the global road transportation sector, aiming to curb carbon emissions significantly. With the EV industry experiencing remarkable growth driven by dynamic policy shifts, increased driving range, and heightened environmental concerns, the demand for smart solutions in adhesives and sealants is soaring. This market, propelled by the surging adoption of EVs, is witnessing rapid expansion. Key drivers include the quest for sustainability, advancements in thermal management, and the critical role additives play in enhancing the performance, safety, and overall efficiency of adhesives and sealants in the EV landscape.

The global additives market for EV adhesives and sealants was valued at $91.4 million in 2022, and it is expected to grow at a CAGR of 21.32% and reach $627.6 million by 2032.

Market Analysis: Trends, Data, and Growth Projections

The increasing need for lighter vehicles, effective electric vehicle (EV) batteries, and more stable compounds is fueling investments in the market for EV adhesives and sealant additives. Additive manufacturers are creating solutions to substantially reduce vehicle weight without compromising quality. This development plays a significant role in propelling the expansion of the global market for additives in EV adhesives and sealants.

BIS Research, a leading market research firm, has released a report titled- Additives Market for EV Adhesives and Sealants, which discusses the challenges, growth factors, and future opportunities driving the remarkable growth of the additives market for EV adhesives and sealants. The detailed study is a compilation of 417 market data tables, and 36 figures spread across 384 pages.

Key Players and Market Segments

Some major companies operating in the global additives market for EV adhesives and sealants are:

BASF SE
Evonik Industries AG
BYK-Chemie GmbH
Arkema SA.
Clariant International Ltd
Elementis plc
Cabot Corporation
Solvay SA
Afton Chemicals
Allnex GMBH
ANGUS Chemical Company
CHONGQING ACME TECH. CO., LTD.
King Industries, Inc.
Momentive Performance Materials, Inc.
OSiC Performance Materials

The additives market for EV adhesives and sealants is segmented into vehicle type, propulsion type, additive type, product type, function, sales channel, and region. Passenger vehicles emerge as the dominant segment in vehicle types, propelled by the widespread global adoption of passenger electric vehicles, underscored by stringent emissions regulations and government incentives.

Within the propulsion types, Hybrid Electric Vehicles (HEVs) take the lead, surpassing Battery Electric Vehicles (BEVs), as HEVs address concerns such as range anxiety and higher initial costs. The additive type segment sees Leveling/Flow Agents as the foremost category, pivotal in managing surface properties and ensuring a high-quality finish in adhesives and coatings.

Adhesive product types lead the way among products, finding extensive applications in bonding battery components and interior elements. Exterior components dominate the function segment, emphasizing the critical role of adhesives and sealants in lightweight, particularly for essential elements like headlamps and roof systems.

Original Equipment Manufacturers (OEMs) emerge as the dominant sales channel, driven by consumer preferences for exclusive support and warranties. At the same time, China takes the regional spotlight, leading in volume consumption due to its sizable EV fleet, prominent EV battery production, and favorable economic factors.

Market Drivers, Challenges, and Opportunities

Regulatory advancements, ongoing research, and collaboration between industry leaders contribute to the growth of the additives market for EV adhesives and sealants.

The additives market for EV adhesives and sealants is experiencing robust demand driven by several key factors. The proliferating adoption of electric vehicles (EVs) worldwide is a significant catalyst as the automotive industry shifts towards sustainable, eco-friendly mobility solutions.

Moreover, the increasing importance of thermal management in EV batteries has fueled the demand for advanced adhesives and sealants, further boosting the market. The rising popularity of fuel-cell electric vehicles (FCEVs) is another significant driver, as they require specialized adhesives and sealants for their unique components and structures.

Despite the promising growth trajectory, the market faces certain limitations. The volatility in raw material prices poses a challenge, impacting the production costs and overall pricing of additives in the market. Moreover, sealants and adhesives encounter environmental and safety challenges within the electric vehicle industry.

As sustainability becomes a focal point in the automotive sector, there is a growing need for eco-friendly and safe solutions, presenting a limitation for traditional adhesives and sealants in the EV market. Addressing these challenges will be crucial for stakeholders to ensure the sustained growth and acceptance of additives in the rapidly evolving landscape of EV adhesives and sealants.

Analyst Note

BIS principal analyst suggests: “The additives market for EV adhesives and sealants is growing rapidly and is expected to grow faster than average in the coming years. Product manufacturers invest heavily in research and development (R&D) to develop advanced additives that meet the growing demand for improved EV life and performance. Additionally, these companies are focusing on partnerships and collaborations with EV manufacturers to gain a competitive advantage in the market. With the increasing adoption of EVs in both developed and developing countries, the additives market for EV adhesives and sealants solutions is expected to experience significant growth in the coming years.”

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About BIS Research

BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends, which can disrupt the market dynamics in the near future. We publish over 200 market intelligence studies annually, focusing on several deep technology verticals.

Our strategic market analysis emphasizes market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.

BIS Research offers syndicate and custom studies and expert consultations to firms, providing them with specific and actionable insights on novel technology markets, business models, and competitive landscapes.