Automotive Sealants Market is anticipated to grow exponentially over the projected time period due to the rising cases of automobile accidents across the globe. The superior mechanical and chemical properties offered by sealants including adhesion, corrosion resistance along with insolubility in most solvents are further expected to boost the industry share over the study timeframe.
Automotive Sealants Market key players are continuously investing in R&D for developing advanced automotive sealants for catering to a wide range of automotive applications and expanding their automotive sealants market share. For instance, in 2016, Sika AG launched a low-density adhesive and sealants for buses with significant weight reduction compared to the traditional sealants. The weight reduction has also resulted in considerable savings in fuel efficiency and minimize carbon emissions.
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Stringent regulatory and government policies mandate the appropriate testing and evaluation of sealants prior to commercializing in the automotive sealants market. Multiple tests include heat resistance, emission control, crush column, and VOC content test among others are conducted before commercializing, thereby providing a positive outlook for the industry expansion. Moreover, regulatory bodies including the ASTM International provides multiple standards that enable sealant manufacturers to invest and properly test sealants for diversified applications.
Based on application, the automotive sealants market share is segmented into interior, exterior, and others. The interior segment will account for a significant share owing to the requirement for appropriate adhesion and boding for multiple vehicle interior components. Additionally, the proliferation of a diversified range of electronics and interior trims along with expanding customization alternatives to the consumers further supports the industry share.
Most of the automotive sealant manufactures are investing in innovative manufacturing processes for producing advanced sealants based on biotechnology for complying to the stringent efficiency norms. Renewable technologies are gaining significant popularity in the market share owing to reducing reliance on petrochemical products along with improving the sealants adhesion properties.
Based on material, the automotive sealants market share can be categorized into epoxy, acrylic, rubber, silicones, polyurethane, and others. The silicones will account for a significant share owing to the benefits offered by the material including superior adhesion and bonding. The material is also ideal for inducing enhanced NHV properties in vehicles. The higher temperature resistance along with superior design flexibility further expands the segment share over the study timeframe.
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Based on vehicle, the automotive sealants market share can be classified into PCV, LCV, and HCV. The PCV will account for a significant share owing to the rising vehicle production globally. Additionally, improvements in sealants including water-proof capabilities, UV resistance, and chemical stability further expands the segment share. Increasing investments by automobile manufactures to upgrade vehicle manufacturing technologies along with adoption of technologically advanced materials for vehicle production are expected to further boost the revenue generation.The companies operating in the Automotive Sealants Market are conducting strategic acquisitions to strengthen their presence in the market. For instance, in May 2018, QualiTest Group acquired the software testing division of NCC Group plc to enhance its UK operations and provide improved value offerings to its customers.
Some of the companies operating in the automotive sealants markets are H.B. Fuller Company, PPG Industries, DowDuPont Inc., 3M Company, Henkel AG & Co., and EFTEC AG
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