According to a new market report published by Lucintel, the future of adhesives in the Mexican automotive industry looks attractive with opportunities in the passenger car and light commercial vehicle segments. Adhesives in the Mexican automotive industry are expected to reach an estimated $712.5 million by 2021 and are forecast to grow at a CAGR of 13.5% by value from 2016 to 2021. The major drivers of growth for this market are growth in the production of light commercial vehicles and passenger car and increase demand for lightweight materials.
In this market, epoxy, polyurethane, and acrylic are the major adhesives by product type used in 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 the Mexican automotive industry, the polyurethane adhesives segment is expected to remain as the largest market. It has better mechanical properties and increase automotive production, are expected to drive adhesives consumption, which would spur growth for this segment over the forecast period.
In this market, passenger car is expected to remain the largest segment due to growth of passenger car production and increase use of lightweight materials in automotive applications.
For business expansion, report suggests innovation and new product development to reduce curing time, superior stress durability, improve cohesion strength and improve high temperature resistance. The report further suggests the development of partnerships with customers to create win-win situations and development of low-cost solutions for customers.
Emerging trends which have a direct impact on the dynamics of the industry include increasing use of composites and lightweight materials in automotive applications, development of new silicone-based electrically conductive adhesives in automotive sensor applications, and development of fast cure adhesives. Henkel AG & Co KGaA, The 3M Company, The Dow Chemical Company, Sika AG, and Huntsman are the major manufacturers of adhesives in the Mexican automotive industry.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities for adhesives in the Mexican 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 Mexican Automotive Industry 2016-2021: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a springboard for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the growth opportunities for adhesives in the Mexican automotive industry by product type, vehicle type, application type, and region, as follows:
By Product (Volume M lbs. and $ M Shipment from 2010 to 2021):
· Epoxy Adhesives
· Polyurethane Adhesives
· Acrylic Adhesives
· Other Adhesives
By Vehicle (Volume M lbs. and $ M Shipment from 2010 to 2021):
· Passenger Car
· Light Commercial Vehicles
By Application (Volume M lbs. and $ M Shipment 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
This 100-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 helpdesk@lucintel.com. Lucintel offerings include Chemical Market Research Reports, Chemical Industry Analysis Report, Capital Investment Analysis, Strategic Growth Consulting and Due Diligence.
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 10 key questions:
Q. 1 What are some of the most promising, high-growth opportunities for adhesives in the Mexican automotive industry by product type (epoxy, polyurethane, acrylic, and others), vehicle type (passenger car and light commercial vehicle), application type (structural and non-structural)?
Q. 2 Which product segments will grow at a faster pace and why?
Q.3 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.4 What are the business risks and competitive threats in this market?
Q.5 What are the emerging trends in this market and the reasons behind them? Q.6 What are some changing demands of customers in the market?
Q.7 What are the new developments in the market? Which companies are leading these developments?
Q.8 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.9 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via materials / product substitution?
Q.10 What M & A activity has happened in the last 5 years in this market and what is its impact on the industry?