Automotive Adhesives Market Information- by Types (Polyurethane (PU), Polyvinyl Chloride (PVC), Bio Based), by End User Industry (Automotive, Furnishing, Footwear, Clothing, Others) and by Region – Forecast to 2023
- Filwel Co. Ltd (Japan)
- R.Polycoats Pvt. Ltd (India)
- Alfatex ITALIA (Italy)
- Mayur Uniquoters Ltd. (India)
- San Fang Chemical Industry Co. Ltd (Taiwan)
- Kuraray Co. Ltd. (Japan)
- Teijin Limited (Japan)
- Asahi Kasei Corporation (Japan),
- Huafon Group (Japan),
- Toray Industries (Japan)
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In February 2019, Los Angeles observed the inauguration of its first vegan fashion week under the theme “Facing Our Time.” The event aims at putting a ban on animal cruelty.
In December 2020, technology major Continental announced its investment of Rs 180 crore in its Indian manufacturing facility for premium surface materials such as the acella eco Automotive Adhesives for the automotive industry. The facility is expected to start its supply to the local market by 2020.
Automotive Adhesives Market Highlights
Automotive Adhesives also known as synthetic leather is marketed under different names such as faux leather, PU leather, pleather, leatherette and vegan leather. The growing demand of Automotive Adhesives is due to its appearance and flexibility in using lightweight product.
Rising environmental concern along with discontinuation of animal species which are killed to obtain leather has led to shift the production to Automotive Adhesives.
Automotive Adhesives Market Size is expected to grow at 38.2 billion with CAGR of 7.9% from 2016 to 2023.
Automotive Adhesives Segments
By type, the global Automotive Adhesives market has been segmented into polyurethane, polyvinyl chloride, bio-based. The polyurethane segment is likely to exhibit significant growth over the next couple of years. Also, the polyvinyl chloride segment is anticipated to mark a decent CAGR during the forecast period. Both the segments are projected to signify similar growth trends such as increasing use in the clothing industry. The bio-based segment is expected to capitalize on the growing demand for eco-friendly products.
By end-user industry, the Automotive Adhesives market has been segmented into automotive, furnishing, footwear, clothing, and others. Among these, the footwear industry is growing exceptionally owing to the predominant rise in the demand for Automotive Adhesives. The rising demand is backed by the increase in per capita income and urbanization.
Automotive Adhesives Regions
By region, the global Automotive Adhesives market has been segmented into Asia Pacific, Europe, North America, and the Rest of the World (RoW). Asia Pacific is the largest market for Automotive Adhesives. China leads the growth as it is one of the largest producers of synthetic leather. Also, factors such as industrialization, urban migration, and economic development are expected to influence the growth trajectory of the Automotive Adhesives market in the region positively.
North America and Europe are anticipated to benefit from the growth of the end-user industries and exhibit similar growth trends. These regional market are also projected to signify substantial growth over the next couple of years.
Complete report on Automotive Adhesives market report spread across 140 pages, profiling 10 companies and supported with tables and figures available. Enquire more @ https://www.marketresearchfuture.com/reports/automotive-adhesives-market-2550