Irving, TX -- (SBWire) -- 01/24/2017 --According to a new market report published by Lucintel, the future of adhesives in the Spanish automotive industry looks promising with opportunities in the segments of passenger cars and light commercial vehicles. Adhesives in the Spanish automotive industry is expected to reach an estimated $459 million by 2021and is forecast to grow at a CAGR of 8.5% by value from 2016 to 2021. The major drivers of growth for this market are growth in the production of passenger car and light commercial vehicles, and increase in the demand for lightweight materials
This report has 54 figures/charts and 17 tables spread through 90 pages. For more detail on this report please click link http://www.lucintel.com/adhesives_in_spanish_automotive_industry_2016_2021.aspx
In this market, epoxy, polyurethane, and acrylic are the major adhesives by product type used in the automotive industry. On the basis of its comprehensive research, Lucintel forecasts that the polyurethane adhesives and epoxy adhesives segments are expected to show above average growth during the forecast period.
Within the adhesives in Spanish automotive industry, the polyurethane adhesives segment is expected to remain as the largest market. Diverse applications of polyurethane adhesives in the automotive industry, such as bonding of windows in car body, carpet bonding, and bonding of headliners, door panels, dashboard, instrument panels, and seat upholstery system industry are expected to drive adhesives consumption, which would spur growth for this segment over the forecast period.
In this market, passenger car is largest segment by vehicle type and it is expected to remain the largest segment due to an increase in passenger car production along with the increasing use of lightweight materials.
Adhesives usage in non-structural application is expected to remain the largest segment due to its usage in bonding non-structural automotive parts made of lightweight materials.
For business expansion, Lucintel's report suggests innovation and new product development to reduce curing time, improved cohesion strength and improved temperature resistance adhesives. The report further suggests the development of partnerships with customers to create win-win situations and development of low-cost solutions for customers.
Emerging trend, which have a direct impact on the dynamics of the industry, include increasing use of composites and lightweight materials in vehicles. Henkel AG & Co KGaA, 3M Company, Dow Chemical Company, Sika AG., and H.B. Fuller Co., are the major suppliers of adhesives in the Spanish automotive industry. Some of these companies are opting for mergers and acquisition as strategic initiatives for driving growth.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities for adhesives in the Spanish automotive industry by product type, vehicle type, application type, and region, and has compiled a comprehensive research report entitled "Growth Opportunities for Adhesives in the Spanish Automotive Industry 2016-2021: Trends, Forecast, and Opportunity Analysis." The Lucintel report serves as a springboard for growth strategy because it provides comprehensive data and analysis on trends, key drivers, and directions.
Download Free PDF Report Brochure here http://www.lucintel.com/rb/adhesives_in_spanish_automotive_industry_2016_2021.aspx
The study includes a forecast for the growth opportunities for adhesives in the Spanish automotive industry by product type, vehicle type, application type, and region, as indicated below:
By Product Type [Volume M lbs. and $ M Shipment analysis for 2010 to 2021]:
- Epoxy Adhesives
- Polyurethane Adhesives
- Acrylic Adhesives
- Other Adhesives
By Vehicle Type [Volume M lbs. and $ M Shipment analysis for 2010 to 2021]:
- Passenger Cars
- Light Commercial Vehicles
By Application Type [Volume M lbs. and $ M Shipment analysis for 2015 and 2021]:
- Structural Components
- Non-Structural Components
Region [Volume M lbs. and $ M Shipment analysis for 2010 to 2021]:
- North America
- Europe
- Asia Pacific
- Rest of the World
Click here to download sample http://www.lucintel.com/ds/adhesives_in_spanish_automotive_industry_2016_2021.aspx
This 95-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link http://www.lucintel.com/toc/adhesives_in_spanish_automotive_industry_2016_2021.aspx or helpdesk@lucintel.com
Browse related report here http://www.lucintel.com/reports/chemical_market_report.aspx
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