United States Automotive Adhesives Market Forecast and Opportunities, 2019

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Stringent Federal Regulationson Fuel Economy and Carbon Dioxide Emissions to drive Automotive Adhesives Market in United States

Stringent Federal Regulationson Fuel Economy and Carbon Dioxide Emissions to drive Automotive Adhesives Market in United States

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  • 1. United States Automotive Adhesives Market Forecast & Opportunities, 2019 M a r k e t . I n t e l l i g e n c e . E x p e r t s
  • 2. I n d u s t r y B r i e f © TechSci Research 2 Government concerns regarding environmental impact of motor vehicles is driving automotive manufacturers in the US to downsize vehicle weight in order to improve fuel economy and reduce harmful emissions. The government has drafted regulations pertaining to fuel economy and emission standards, which has to be followed by every vehicle manufacturer by 2025. Weight reduction of vehicles can be achieved by using lightweight materials such as plastics, composites, high strength steel and aluminum. As composites are generally built of different materials, their joining is not possible using traditional techniques like welding or screwing. For this purpose, specially formulated structural adhesives have to be applied, which not only bind composites of similar or dissimilar substrates, but also provide structural integrity to the vehicle body frame. Major automotive adhesives used to achieve these objectives include epoxy, polyurethane or acrylic polymer- based. According to “United States Automotive Adhesives Market Forecast & Opportunities, 2019”, the automotive adhesives market in the US is expected to grow at a CAGR of about 5% during 2014-19. The demand for automotive adhesives is expected to increase significantly in the automotive sector, due to rising government concerns related to reducing emissions from ICE (Internal Combustion Engine) by switching to electric vehicles (EVs). As EVs contain heavy batteries for storing energy, their fuel efficiency has to be balanced using lightweight materials, which in turn increases automotive adhesive consumption. This trend is further supported by tax exemptions for use or promotion of electric vehicles. Some of the major companies in the US involved in manufacturing and supplying automotive adhesives to OEMs include Henkel, Dow Chemical Company and H.B. Fuller. “United States Automotive Adhesives Market Forecast & Opportunities, 2019” report elaborates following aspects related to automotive adhesives market in the United States: US Automotive Adhesives Market Size, Share & Forecast Segmental Analysis – Epoxy, Polyurethane, Acrylic, etc. Policy & Regulatory Landscape Changing Market Trends & Emerging Opportunities Competitive Landscape & Strategic Recommendations
  • 3. Ta b l e o f C o n t e n t s © TechSci Research 3 S.No Title Page No. 1. Research Methodology 9 2. Analyst View 10 3. Global Adhesives Market Overview 11 4. US Automotive Adhesives Market Analysis 12 4.1. Market Size & Forecast 4.1.1. By Value 18 4.1.2. By Volume 19 4.2. Market Share & Forecast 4.2.1. By Polymer Type 27 4.2.2. By Application 31 4.2.3. By Technology 37 4.2.4. By Company 42 4.2.5. By Region 47 5. US Automotive Epoxy Adhesives Market 5.1. Market Size & Forecast 51 5.1.1. By Volume 55 5.2. Market Share & Forecast 5.2.1. By Application 56 6. US Automotive Polyurethane Adhesives Market 58 6.1. Market Size & Forecast 6.1.1. By Volume 61 6.2. Market Share & Forecast 6.2.1. By Application 66
  • 4. Ta b l e o f C o n t e n t s © TechSci Research 4 S. No. Title Page No. 7. US Automotive Acrylic Adhesives Market 68 7.1. Market Size & Forecast 7.1.1. By Volume 71 7.2. Market Share & Forecast 7.2.1. By Application 72 8. Market Drivers & Challenges 74 9. Market Trends & Developments 79 9.1. Vehicle Lightweighting 80 9.2. Crash Durable Adhesives 82 9.3. Plastics & Composites 84 9.4. Electric Vehicles (EVs) 86 9.5. Repair & Aftermarket 88 10. Policy & Regulatory Landscape 90 11. United States Economic Profile 91 12. Competitive Landscape 93 12.1. Henkel North America 94 12.2. The Dow Chemical Company 97 12.3. H.B. Fuller Company 99 12.4. 3M Company 101 12.5. Sika Corporation US 103 12.6. EMS-EFTEC 105
  • 5. Ta b l e o f C o n t e n t s © TechSci Research 5 S. No. Title Page No. 12.7. Bostik US 107 12.8. PPG Industries 109 12.9. Avery Dennison Corporation 111 12.10. Tesa USA 113 13. Strategic Recommendations 115 14. About Us & Disclaimer 121
  • 6. L i s t o f F i g u r e s © TechSci Research 6 Figure No. Title Page No. Figure 1: Global Adhesives Market Share, By Region, By Value, 2012 11 Figure 2: World Motorization Rate, By Number of Vehicles per 1000 People, 2012 13 Figure 3: Global Population and Vehicle Parc, 2000-2030 (Billions) 14 Figure 4: US Light Vehicle Production, By Volume, 2009-19F (Million Units) 15 Figure 5: US Automotive Adhesive Consumption, By Value, 2009-19F (USD per Vehicle) 16 Figure 6: US Automotive Adhesive Consumption, By Volume, 2009-19F (Tons per Vehicle) 17 Figure 7: US Automotive Adhesives Market Size, By Value, 2009-19F (USD Million) 18 Figure 8: US Automotive Adhesives Market Size, By Volume, 2009-19F (Thousand Tons) 19 Figure 9: US Adhesives Market, Adhesives Material Cost Index and Resin PPI, 2005-12 20 Figure 10: US Crude Oil Price per Barrel, 2007-12 (USD) 20 Figure 11: US Automotive Adhesive Consumption (Kilogram), By Vehicle Type per Unit in 2011 & Estimated Additional Penetration (%) by 2015 21 Figure 12: Adhesive Vs. Other Joining Techniques, Costing Analysis (Lbf.|USD) 22 Figure 13: US Government Plan, Fuel Economy Standards, 2025 24 Figure 14: US Light Vehicles Sales and Growth, 2009-13 (Million Units) 25 Figure 15: US Light Vehicles Production and Growth, 2009-13 (Million Units) 25 Figure 16: US Automotive Adhesives Market Share, By Polymer Type, By Volume, 2013 28 Figure 17: US Automotive Adhesives Market Share, By Polymer Type, By Volume, 2019F 28 Figure 18: US Automotive Adhesives Market Share, By Application, By Volume, 2013 33 Figure 19: US Interior Trim Adhesives Market Share, By Application, By Volume, 2013 33 Figure 20: US Automotive Adhesives Market Share, By Application, By Volume, 2019F 36 Figure 21: US Automotive Adhesives Market Share, By Technology, By Volume, 2013 38 Figure 22: US Automotive Adhesives Market Share, By Technology, By Volume, 2019F 38 Figure 23: US Automotive Adhesives Market Share, By Company, By Value, 2013 43 Figure 24: US Automotive Adhesives Market Share, By Company, By Value, 2019F 44
  • 7. L i s t o f F i g u r e s © TechSci Research 7 Figure No. Title Page No. Figure 25: US Adhesives Market Share, By Region, By Value, 2013 47 Figure 26: US Automotive Industry Market Share, By Auto Manufacturers, By Sales, 2013 48 Figure 27: US Top 15 Auto Plants, By Region, By Capacity, 2012 (Number of Units/Year) 49 Figure 28: US Automotive Adhesives Market Share, By Region, By Value, 2013 & 2019F 50 Figure 29: Change in Epoxy Adhesive Behaviour with Temperature 54 Figure 30: US Automotive Epoxy Adhesives Market Size, By Volume, 2009-19F (Thousand Tons) 55 Figure 31: US Automotive Epoxy Adhesives Market Share, By Application, By Volume, 2013 57 Figure 32: US Automotive Epoxy Adhesives Market Share, By Application, By Volume, 2019F 57 Figure 33: US Automotive Polyurethane Adhesives Market Size, By Volume, 2009-19F (Thousand Tons) 61 Figure 34: US Automotive Polyurethane Adhesives Market Share, By Application, By Volume, 2013 66 Figure 35: US Automotive Polyurethane Adhesives Market Share, By Application, By Volume, 2019F 67 Figure 36: US Automotive Acrylic Adhesives Market Size, By Volume, 2009-19F (Thousand Tons) 71 Figure 37: US Automotive Acrylic Adhesives Market Share, By Application, By Volume, 2013 72 Figure 38: US Automotive Acrylic Adhesives Market Share, By Application, By Volume, 2019F 73 Figure 39: Exterior Plastic Automotive Parts, Estimated Volume, By Application Area, 2009-13 (Tons) 85 Figure 40: Henkel Global Sales, By Business Unit, 2013 95 Figure 41: Henkel Global Sales, By Region, 2013 95 Figure 42: Henkel Global Revenue Share from Adhesives, By Application, 2013 95 Figure 43: Henkel US Manufacturing Sites, By Region, 2013 96 Figure 44: Dow Global Sales & Income, 2010-12 (USD Million) 98 Figure 45: Dow Global Sales, By Business Unit, 2013 98 Figure 46: Dow Net Revenue Share, By Region, 2012 & 2013 98 Figure 47: H.B. Fuller Global Revenue & Gross Profit, 2011-13 (USD Million) 100
  • 8. L i s t o f F i g u r e s © TechSci Research 8 Figure No. Title Page No. Figure 48: H.B. Fuller Global Sales, By Business Unit, 2013 100 Figure 49: H.B. Fuller Net Revenue Share, By Segment, 2012 & 2013 100 Figure 50: 3M Company Net Sales, 2009-13 (USD Billion) 102 Figure 51: 3M Company Net Revenue Share, By Region, 2013 102 Figure 52: Sika Global Sales Share, By Region, 2013 104 Figure 53: EMS Group Global Net Sales Revenue, 2010-12 (CHF Million) 106 Figure 54: EMS Group Net Sales Share, By Country, 2012 106 Figure 55: Bostik Global Sales Share, By Segment, 2011 108 Figure 56: Bostik Global Sales Share, By Region, 2011 108 Figure 57: PPG Industries Sales Share, By Business Segments, 2012 110 Figure 58: PPG Industries Sales Share, By Region, 2012 110 Figure 59: Avery Dennison Net Sales, 2011-13 (USD Billion) 112 Figure 60: Avery Dennison Sales Share, By Region, 2012 112 Figure 61: Tesa SE Net Sales, 2010-13 (Euro Million) 114 Figure 62: Tesa SE Sales Share, By Unit, 2013 114 Figure 63: Tesa SE Sales Share, By Region, 2013 114
  • 9. L i s t o f Ta b l e s © TechSci Research 9 Table No. Title Page No. Table 1: US Federal Grants, Automotive Sector, 2013 23 Table 2: Types of Automotive Adhesives, Description 27 Table 3: Automotive Adhesives, Essential Properties, By Polymer Type 29 Table 4: US Adhesive Company Average Cost Structure, 2005-11 42 Table 5: Properties of Epoxy Adhesives 54 Table 6: Comparison between One-component and Two-component Polyurethane Adhesives 63 Table 7: Automotive Polyurethane Adhesives, Applications in Automotive 65 Table 8: Automotive Acrylic Adhesives, Applications 72 Table 9: US Average Material Content of Light Vehicles, By Weight, 2009-12 (lbs.) 81 Table 10: Crash Resistant Automotive Adhesive Properties, By Type 83 Table 11: US Government Initiatives to Support Electric Vehicles, 2013 87 Table 12: Sika AG Net Sales, 2012-13 (USD Million) 104 Table 13: EMS Group Financial Highlights, 2013 106 Table 14: PPG Industries Financial Highlights, 2012 110
  • 10. R e s e a r c h M e t h o d o l o g y © TechSci Research Product Definition : TechSci Research has covered and considered automotive adhesives as substrates that are used in automotive sector to bond two or more auto components, parts or any other body fames. These are used as a replacement for mechanical fasteners and are useful in lightweighting the vehicle. The report covers epoxy, polyurethane and acrylic automotive adhesives for the data presented in the report. Baseline Methodology : For the study, TechSci Research has gathered information through primary research surveys with 14 respondents from different producers and distributors of automotive adhesives across the United States, followed by counter validating the information by analysing best available financial data of these companies. We also put through exhaustive search of credible paid databases such as Hoovers, Factiva, Bloomberg etc., including our internal database. Our team of analysts have then prudently evaluated all the collected information and personated them in a chronological order to depict a meaningful and clear picture of adhesives market in the United States. While compiling the data we have also cross checked all the collected information from multiple sources and data warehouses, so that we can present the most accurate and precise information of the concerned industry. Sources : Company Annual Reports, Bloomberg, Factiva, UN Comtrade. Challenges : The team faced challenges while extracting precise statistics about the sales in each segment, as limited information was available for different segments of automotive adhesives such as epoxy, PU and acrylic. 10
  • 11. S a m p l e D a t a - S n a p s h o t 11 © TechSci Research 20 30 40 50 60 10 20 30 40 50 60 2009 2010 2011 2012 2013 2014E2015F2016F2017F2018F2019F Figure 7: US Automotive Adhesives Market Size, By Value, 2009- 19F (USD Million) 20 30 40 50 60 70 20% 20% 25% 20% 20% 25% 0% 5% 10% 15% 20% 25% 30% 0 10 20 30 40 50 60 70 80 Bus Truck Dry Good Trailer RV Rail Auto/ SUV Figure 11: US Automotive Adhesive Consumption (Kilogram), By Vehicle Type per Unit in 2011 & Estimated Additional Penetration (%) by 2015 Epoxy 25% Polyurethane Acrylic 25% Others 25% Figure 16: US Automotive Adhesives Market Share, By Polymer Type, By Volume, 2013 & 2019F Wash ingto n DC M D D E N J R I Figure 28: US Automotive Adhesives Market Share, By Region, By Value, 2013 & 2019F Epoxy 25% Polyurethane 25% Acrylic 25% Others 25% Laund ry & Home care 25% Adhesive Technolo Beaut y Care 25% Corpora Figure 40: Henkel Global Sales, By Business Unit, 2013 North Americ a 20% Wester n Europe 20% Japan/ Australi a/ New Emergi ng Corpor ate 20% Figure 41: Henkel Global Sales, By Region, 2013 20 30 40 50 60 10 20 30 40 50 60 2009 2010 2011 2012 2013 2014E 2015F 2016F 2017F 2018F 2019F Figure 30: US Automotive Epoxy Adhesives Market Size, By Volume, 2009-19F (Thousand Tons)
  • 12. R e p o r t O r d e r i n g 12 © TechSci Research Report Name: United States Automotive Adhesives Market Forecast & Opportunities, 2019 Product Price To View Sample OR Purchase Report License Type Price Electronic Access - Single User License USD1800 CD-ROM Mail Delivery USD 2400 Hard Copy Mail Delivery USD 2800 Electronic Access - Multi-User License USD 4500
  • 13. A b o u t U s & D i s c l a i m e r 13 © TechSci Research About Us : TechSci Research is a global market research and consulting company with offices in Canada, UK and India. TechSci Research provides market research reports in a number of areas to organizations. The company uses innovative business models that focus on improved productivity, ensuring the creation of high-quality reports. The focus is on capturing the respondents’ observations, expectations, satisfaction, confidence, and attitudes pertaining to different aspects of a specific sector. TechSci Research’s expertise lies in the dynamic combination of industry and country risk analysis. The proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market. Related Reports Germany Automotive Adhesives Market Forecast and Opportunities, 2018 China Adhesives Market Forecast and Opportunities, 2019 India Adhesives Market Forecast and Opportunities, 2019 Partial List of Clients: Disclaimer : The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research. TechSci Research – North America 2950, Boundary Road, Burnaby, British Columbia, Canada Tel: +1- 646- 360-1656 Email: sales@techsciresearch.com www.techsciresearch.com TechSci Research – Europe 54, Oldbrook, Bretton, Peterborough, United Kingdom Email: sales@techsciresearch.com www.techsciresearch.com TechSci Research – Asia-Pacific A – 51, Sector -57, Noida, National Capital Region, U.P. - India Tel: +91-120-4243434 Email: sales@techsciresearch.com www.techsciresearch.com