The presence of several automobile giants in Germany makes it the largest consumer of automotive adhesives and sealants in Europe. The country is home to some of the world's leading automotive producers, such as Mercedes-Benz, Volkswagen, BMW, Porsche, and Audi. These brands cater to international customers and account for a substantial share of the passenger car sales in Europe. Currently, German carmakers are focusing on electric and lightweight vehicles to cut carbon emissions, which is why the consumption of automotive adhesives and sealants is increasing in the country.
Due to this factor, the German automotive adhesives and sealants market size will reach $1,156.8 million by 2023 from $891.8 million in 2017. According to P&S Intelligence, the market will exhibit a CAGR of 4.5% during the forecast period (2018–2023). These materials are used for bonding and sealing purposes in passenger and commercial vehicles. Both adhesives and sealants are chemically similar but functionally different. The usage of these materials enhances the performance, safety, reliability, and driving comfort of vehicles.
These adhesives and sealants are available in different types, including epoxy, acrylic, polyurethane, rubber, polyvinylchloride (PVC), silicone, and hot melt. Of these, the epoxy category accounted for the largest share in the German automotive adhesives and sealants market in 2017, as these automotive adhesives and sealants offer resistance to shock, chemicals, and impact and higher-strength bonds. With the increasing demand for high-speed vehicles, especially among the youth, it is important that the automobile absorbs enough shock and doesn’t start to disintegrate.
Additionally, the application segment of the German automotive adhesives market is categorized into paint shop, under-the-hood (UTH) and powertrain, assembly, and body in white (BIW). In this segment, the assembly category generated the highest revenue for the market in 2017 due to the largescale consumption of automotive adhesives and sealants for assembling automotive components. Moreover, the application of these high-performance adhesion solutions helps in reducing the overall weight of the vehicles, which is important to comply with the new emission limits.
With the presence of a large number of automobile manufacturing units in the country, the demand for automotive adhesives and sealants has surged in recent years. To meet the high-volume demand, companies such as Henkel AG & Co. KGaA, Sika AG, H.B. Fuller Company, DowDuPont Inc., and tesa SE are producing more of such materials than before.
Read More: https://www.psmarketresearch.com/market-analysis/germany-automotive-adhesives-and-sealants-market
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