Electric Vehicle Adhesives Market Size to Grow at a Rapid CAGR of 24.2% During 2025-2031, Exclusive Report by The Insight Partners

Electric vehicle adhesives market to reach a valuation of US$ 10.31 billion by 2031, Driven by Rising Adoption of Electric Vehicles, Research by The Insight Partners

/EIN News/ -- US & Canada, April 28, 2025 (GLOBE NEWSWIRE) -- According to a new comprehensive report from The Insight Partners, the global electric vehicle adhesives market is experiencing significant growth owing to the surging adoption of electric vehicles.

The electric vehicle adhesives market report focuses on various applications of these products, which are expected to determine its growth in the coming years. The report runs an in-depth analysis of market trends, key players, and future opportunities.

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Overview of Report Findings

1. Market Growth: The electric vehicle adhesives market is expected to reach US$ 10.31 billion by 2031 from US$ 2.29 billion in 2024 at a CAGR of 24.2%. The use of adhesives in electric vehicles aids in the ease of use compared to welding, the ability to resist the effects of environmental factors, effective sealing, distribution of stress, and joining of mismatched materials (e.g., plastic to metal). The use of adhesives in electric vehicles is more widespread than their use in conventional automobiles; this is due to their ability to bond composites and low surface energy plastics, which results in lower component weight, improved thermal conductivity, and electrical insulation.
2. Rise in Demand for Electric Vehicles: Major benefits of electric vehicles include zero tailpipe emissions, potential reduction in greenhouse gas emissions, and better efficiency than internal combustion engine vehicles. In addition to their ability to reduce air pollution in densely populated areas, these vehicles have emerged as a promising option contributing to energy diversification and greenhouse gas emission reduction goals. According to the International Energy Agency's annual Global Electric Vehicle Outlook, over 10 million electric cars were sold worldwide in 2022, and the number grew by 35% in 2023 to reach 14 million. Thus, the rise in demand for electric vehicles drives the market for electric vehicle adhesives.
3. Government Initiatives Encouraging Adoption of Electric Vehicles: Many countries, including China, India, and the US, have passed regulations to encourage the adoption of electric vehicles. Technological progress with regard to the electrification of two/three-wheelers, buses, and trucks has led to significant expansion of the array of electric vehicles. Governments are making attractive laws and offering incentives to promote EV sales. Government incentives have also facilitated reduced selling costs, no or minimal registration fees, and free EV charging infrastructure at various charging points. Furthermore, with subsidies, many countries waive import, purchase, and road taxes. Such incentives have led to an upsurge in the adoption of electric vehicles.
4. Geographical Insights: In 2023, Asia Pacific led the vehicle adhesives market with a substantial revenue share, followed by Europe and North America. North America is expected to register the highest CAGR during the forecast period.

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Market Segmentation

• Based on resin type, the electric vehicle adhesives market is segmented into epoxy, polyurethane, silicone, acrylic, and others. The epoxy segment held the largest share of the market in 2024.
• By form, the electric vehicle adhesives market is segmented into liquid, film and tape, and others. The liquid segment held the largest share of the market in 2024.
• By substrate, the electric vehicle adhesives market is segmented into composite, metal, and others. The composite segment held the largest market share in 2024.
• By vehicle type, the electric vehicle adhesives market is segmented into electric cars, electric buses, electric bikes, and others. The electric cars segment held the largest share of the electric vehicle adhesives market in 2024.
• The electric vehicle adhesives market is segmented into five major regions: North America, Europe, APAC, the Middle East and Africa, and South and Central America.
  
  

Competitive Strategy and Development

• Key Players: A few major companies operating in the electric vehicle adhesives market include Henkel AG & Co. KGaA, H.B. Fuller, Sika AG, 3M, Wacker Chemie AG, Arkema S.A., Ashland Inc, PPG Industries, Parker Hannifin Corporation, and Illinois Tool Works Inc.
• Trending Topics: Automated and robotic adhesive application, increasing demand for adhesives that bond lightweight materials, and rising interest in environmentally friendly, low-volatile organic compounds adhesives, among others.

Global Headlines on Electric Vehicle Adhesives

• Henkel Launches New Injectable Thermally Conductive Adhesive for EV Battery Systems
• Dow Launches New Generation of High-bonding Adhesive for EV Batteries
• Avery Dennison Launches New Electrical Insulation Tapes for EV Battery Packs
• Avery Dennison Introduces Pressure-Sensitive Tape Solutions for EV Battery Cell Wrapping Applications

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Conclusion

The global electric vehicle adhesives market is driven by factors such as the rising demand for electric vehicles, with government initiatives encouraging their sales. Various government incentives have led to an upsurge in the manufacturing of electric vehicles and the establishment of infrastructure required for their hassle-free usage. Moreover, the push for environmental sustainability, coupled with technological advancements, has accelerated the production and adoption of electric vehicles, in turn propelling the need for adhesives. Further, there is a rising interest in environmentally friendly, low-volatile organic adhesives to meet sustainability standards. Manufacturers are also focusing on formulating adhesives that release fewer harmful chemicals during application and curing, reducing the environmental impact associated with traditional adhesives.

The report from The Insight Partners provides several stakeholders—including raw material suppliers, manufacturers, and distributors/suppliers—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.

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About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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