The market demand for new energy vehicles is strong and the automotive adhesive market has huge development potential.

Adhesive refers to the collective name for substances that connect two or more parts or materials together through interface adhesion and cohesion. There are various types of automotive adhesives. According to different application scenarios, automotive adhesives can be divided into adhesives for vehicle manufacturing, automotive maintenance, and automotive parts supporting adhesives. According to different components, they can be divided into acrylic type, SBS type, rubber type, Epoxy resin type, polyurethane type, silicone type adhesives, etc.; according to different uses, they can be divided into structural adhesives, semi-structural adhesives, sealants, assembly adhesives, etc.

Automotive adhesives can reduce noise, reduce vehicle weight, reduce energy consumption, and improve driving comfort. They are important raw materials for automobile production. In recent years, against the backdrop of increasing domestic automobile production and sales, the market demand for automotive adhesives has continued to increase. According to data from the China Association of Automobile Manufacturers, my country’s automobile production and sales in 2021 will complete 26.082 million units and 26.275 million units respectively, a year-on-year increase of 3.4% and 3.8% respectively. In this context, according to the “In-depth Market Research and Investment Strategy Suggestions Report on the Automotive Adhesive Industry 2022-2026” released by the Industrial Research Center shows that the domestic market demand for automotive adhesives in 2021 will be 854,000 tons, and it is expected that by 2023, its market demand will grow to 925,000 tons.

New energy vehicles will be the main driving force for the rapid growth of the automotive adhesive market. In recent years, in the context of the rapid development of the domestic new energy vehicle industry, in order to improve their battery life, the trend of lightweighting new energy vehicles has been rising. Traditional connection methods such as riveting, welding, and bolts are heavier and have been gradually replaced by lighter weight ones. Adhesive replacement. According to data from the Ministry of Industry and Information Technology, domestic new energy vehicle production and sales in 2021 will reach 3.545 million and 3.521 million respectively, both a year-on-year increase of 1.6 times. The substantial growth in the production and sales of new energy vehicles has brought strong development momentum to the development of the domestic automotive adhesive market. In 2021, the domestic demand for adhesives for new energy vehicles will be 113,000 tons.

At this stage, there are a large number of domestic automotive adhesive companies. The main companies include Huitian New Materials, Kangda New Materials, Silicon Technology, Gaomeng New Materials, Baiyun Chemical, Jitai Co., Ltd., etc. At present, my country’s automotive adhesive products are mainly concentrated in the low-end market, and the high-end market is still dominated by leading foreign companies such as German Henkel, Dow Corning, DowDuPont, and Bostik.

However, in recent years, driven by the demand from the downstream new energy vehicle market, my country’s automotive adhesive market is gradually shifting to the mid-to-high-end market. In the future, local companies’ share of the mid-to-high-end market will continue to increase, and the domestic market structure is expected to be completely reshuffled. Industry analysts personnel said that in order to increase the high-end market share, local automotive adhesive companies need to continuously improve their technology level and increase product research and development efforts. In the future, under the background of the rising trend of automobile lightweighting, the market demand for automobile adhesives, as an important composite material, will continue to increase and the scale will continue to expand, and the industry has broad room for development.