According to the research report titled ‘Global Electric Vehicle Adhesives Market Size study, by Application (Powertrain, Exterior, Interior), by Resin Type (Epoxy, Polyurethane, Silicones, Acrylics, Others), by Vehicle Type (Electric Car, Electric Bus, Electric Bike, Electric Truck), by Substrate (Plastic, Composite, Metals, Others), by Form (Liquid, Film & Tape, Others), and Regional Forecasts 2021-2027’, available with MarketStudyReport, global electric vehicle adhesives market was worth USD 0.3 billion in 2020 and is anticipated to showcase a CAGR of 44.7% during 2021-2027 to reach a valuation of USD 4 billion by the end of 2027.
 

Global electric vehicle adhesives market is being driven by rising consumer demand for electric vehicles, which is bolstered by government incentives, as well as the need for lightweight, and safe vehicles. Furthermore, increasing adoption of autonomous electric vehicles is expected to create new opportunities for industry partakers in the upcoming years.
 

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 As per Statista, global electric vehicle fleet is projected to grow from 8.5 million units in 2020 to around 115 million units by the year 2030.
 

For the uninitiated, electric vehicle adhesives are basically liquid adhesives that are put on two surfaces to create a solid material. These adhesives bond two substrates together via a chemical or physical change. In electric vehicles, liquid adhesives are used in a variety of applications, including exteriors, interiors, and electric batteries.
 

Increasing demand & adoption of electric vehicle adhesives for manufacture of electric vehicles is expected to impel the industry outlook. However, high upfront cost of electric vehicles may stifle the market growth during the analysis timeframe.
 

Considering the regional landscape, the industry spans across North America, Asia Pacific, Europe, and Latin America. Among these, Asia Pacific market is expected to account for a substantial revenue share during the forecast period, owing to rapid industrialization in developing countries, rising demand for adhesives in automotive industry, growing automotive sector, increasing sales as well as production of electric vehicles in the region.
 

Key players profiled in worldwide electric vehicle adhesives industry are L&L Products Inc., LORD Corporation, PPG Industries, Inc., Ashland Global Holdings Inc., Bostik S.A., Wacker Chemie AG, 3M Company, Sika AG, H.B. Fuller Company, and Henkel AG & Co. KGaA.