Automotive Sealants Market: Market Overview:
The increasing use of advanced lightweight materials and business & manufacturing strategies are driving the trend towards ever-increasing sustainability in paint and body shop operations. Automotive OEMs are transforming the way vehicles are manufactured, designed, protected, and assembled through achieving new business goals of increasing process efficiency, costs reduction, improving vehicle durability, performance, along with environment protection. The usage of automotive sealants across the vehicles body is one best solution for achieving optimum vehicle efficiency and performance.
The automotive sealant other than sealing a surface to prevent passage of gas or liquid also helps in limiting the transfer of noise, moisture, gases, vibration, and dusts into the passenger compartment. Automotive sealants are further used for low-density and multi-substrate applications, underbody coatings, along with for anti-corrosion properties. The automotive sealants nowadays are engineered with durability, styling aesthetics, and strength for satisfying the OEM demands such as minimal surface preparation, temperature & weather resistance, elasticity, and torsional stiffness characteristics. Furthermore, growing awareness towards reducing vehicle weight and fulfilling the demands of automotive industry for the long term mechanical performance is further expected to augment the automotive sealants market growth. The growing use of dispensable sealing materials owing to direct labor costs reduction, scrap materials reduction, material cost reduction, and the accommodation of engineering changes becomes simple. Polyurethane are the most popular automotive sealants product type which are used across harsh environment and thus remaining stable in grease, oil, and water, along with addition of UV shielding for providing better color durability for outdoor applications. These polyurethane automotive sealants provide rapid green strength and greater flexibility across various applications in use.
Automotive Sealants Market: Market Dynamics:
Environmental protection, increased vehicle performance, and greater flexibility are the factors estimated to drive the growth of global automotive sealants market during the forecast period. Furthermore, use of polyurethane helps in the strong bonding properties along with tight seal, significant performance during chemical and harsh conditions thus not causing material degradation, and better color durability. The application of automotive sealants across bodywork, trailer assembly, touring cars and buses, construction and agricultural machinery, and camper assemble are further expected to drive the global automotive sealants market during the forecast period. Moreover, automotive sealants possess features such as no bubbling problem, no drying problem, as well as becoming useful arrow in the formulators’ armory.
Automotive Sealants Market: Market Segmentation:
The global automotive sealants market is segmented on the basis of product type, vehicle type, application, and region. On the basis of product type, global automotive sealants market is segmented into:
On the basis of vehicle type, global automotive sealants market is segmented into:
On the basis of application, global automotive sealants market is segmented into:
Automotive Sealants Market: Region-wise Outlook:
Asia Pacific is estimated to dominate the global automotive sealants market owing to relatively high vehicle production and significant vehicle in-use across China and India. The region is expected to witness substantial growth over the forecast period owing to growing disposable income and population with the increased no of vehicles to meet requirement. North America is anticipated to hold substantial market share and is expected to register relatively steady growth during the forecast period. Significant production in Germany, Italy, Russia, are estimated to attribute towards significant consumption of automotive sealants across various vehicle segments. Growth in vehicle production across Latin America and Middle East & Africa are anticipated to attribute towards growth of global automotive sealants market over the forecast period.
Automotive Sealants Market: Key Market Participants:
Some of the key market participants in the global automotive sealants market are: