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Automotive Sealants Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI3309

Automotive Sealants Market size is set to witness considerable growth over 2022-2028, on account of the increasing propensity towards lightweight bonding materials compliant with strict environmental mandates issued by authorities to mitigate carbon emissions. Automotive sealants comprise mainly of synthetic or man-made polymers, which create a tight protective web across the vehicle when linked together. Car sealants are used extensively to fill voids and gaps, protect against corrosion and demonstrate flexibility in preventing relative substrate movement.
 

The growing adoption of renewable and bio-based feedstock for product formulation is a key trend propelling automotive sealants market growth over 2022-2028. With sustainability emerging as a major issue across the global industrial landscape, sealant and adhesive producers are rapidly turning to more sustainable raw materials and production processes to develop more environment-friendly sealant formulations for the automotive sector.
 

For instance, in June 2021, Total Cray Valley announced the expansion of its hydroxyl-terminated diene resin range, through the launch of sustainably sourced Krasol F3000 and Krasol F3100 farnesene-based resins. The Krasol line includes advanced hydroxyl-terminated liquid poly(butadiene) diol and monol grades, which are used as components for UV-cured, epoxy, and urethane sealant and adhesive formulations for key end-use applications like automotive.
 

Polyurethane automotive sealants market is poised to gain rapid traction by 2028, given the myriad beneficial attributes of the material including exceptional stress recovery, ability to retain shape after being pulled or bent, faster rate of curing, and even adherence to non-primed concrete surfaces. Polyurethane sealants usually have high surface adhesion properties, making them suitable for high-performance automotive applications, including sealing of metal structures like truck and car parts, as well as auto glass repair.
 

Regionally, Latin America is expected to emerge as a major revenue pocket for the automotive sealants industry by 2028, given the robust automotive production levels in the region, as well as the presence of major vehicle manufacturers. Mexico, for instance, is the sixth-largest producer of passenger vehicles in the world, manufacturing almost 3 million vehicles each year. Furthermore, the region consists of several established auto manufacturers such as Audi, Volkswagen, BMW, Stellantis, and General Motors, to name a few, thus presenting lucrative prospects for the automotive sealants market.
 

Key players operating in the global automotive sealants industry include PPG Industries, H.B. Fuller Company, Henkel AG & Co., 3M Company, and EFTEC AG (EFTEC Europe Holding AG). Joint ventures, partnerships, and expansions are some of the main strategies being employed by these companies to strengthen their position in the global market.
 

For instance, in December 2020, Sika developed a novel polyurethane technology under the PURFORM® brand, for use as sealants and adhesives in various automotive applications, such as bonding of battery systems and body components for EVs. In August 2021, PPG Industries introduced a new facility in Tangier, Morocco, intending to develop automotive sealants for local vehicle manufacturing. The plant, which is the first automotive coatings production facility of the company in Africa, will supply materials for the Dacia brand of vehicles from Renault Group produced in Casablanca and Tangier.
 

COVID-19 impact on automotive sealants market trends

Aside from its tremendous impact on human health worldwide, the novel coronavirus pandemic has also created massive disruptions across many industry verticals, including automotive production. Many regions, including Thailand, which is the largest automotive coating manufacturer and consumer in the Asia Pacific region, were forced to comply with extended lockdown regulations during the initial months of the crisis, creating roadblocks to automotive sealants market expansion to a certain extent.
 

However, despite these disruptions, the automotive industry is witnessing a gradual turnaround over the past few months, on account of the significant acceleration in EV adoption. COVID-19 has reinforced the growth trajectory of electric vehicles as the future of automotive production, with adoption being triggered by a combination of a recovery in retail sales and favorable regulatory actions. This, in turn, could boost demand for advanced automotive sealant technologies over the years, as the production of electric vehicles gains more momentum.
 

What Information does this report contain?

Historical data coverage: 2017 to 2021; Growth Projections: 2022 to 2028.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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