The mushrooming usage of adhesives and sealants in the German automotive industry is the major factor responsible for their explosive sales in the country. These adhesives sealants are being increasingly used in the manufacturing of several automotive and components in the country, superior because of their higher resistance to moisture and strong bonding. In addition, they also offer higher flexibility, good impact resistance, and durability than the conventionally used adhesives and sealants.
Furthermore, epoxy adhesives and sealants are being extensively used in the manufacturing of headlights and signal lights and also in the bonding of automobile bumpers. As Germany is one of the largest exporters and manufacturers of automobiles, the sales of adhesives and sealants are shooting up in the country. Besides, the surging deployment of electric vehicles, on account of the implementation of various vehicle electrification policies by the government and the increasing environmental, is also creating lucrative growth opportunities for adhesive and sealant producers in the country.
For automotive instance, the German government provided various tax and financial incentives to automobile manufacturers to reduce the price of electric vehicles, which helped it achieve its objective of electrifying 1 million cars in the country by 2020. This subsequently caused the expansion of the German adhesives and sealants market.
Additionally, the market is expected to advance at a CAGR of 4.5% from 2018 to 2023. Epoxy, polyurethanes, polyvinylchloride, hot melts, silicones, rubber, and acrylics are the most widely used types of adhesives and sealants in the country. Out of these, the demand for the epoxy variants was found to be the highest in 2017. This was because of the huge requirement for these adhesives and sealants, on account of their rigid bonding capabilities, which enables greater structural integrity of the automobile.
Furthermore, epoxy adhesives and sealants are being extensively used in the manufacturing of headlights and signal lights and also in the bonding of automobile bumpers. As Germany is one of the largest exporters and manufacturers of automobiles, the sales of adhesives and sealants are shooting up in the country. Besides, the surging deployment of electric vehicles, on account of the implementation of various vehicle electrification policies by the government and the increasing environmental, is also creating lucrative growth opportunities for adhesive and sealant producers in the country.
For automotive instance, the German government provided various tax and financial incentives to automobile manufacturers to reduce the price of electric vehicles, which helped it achieve its objective of electrifying 1 million cars in the country by 2020. This subsequently caused the expansion of the German adhesives and sealants market.
Additionally, the market is expected to advance at a CAGR of 4.5% from 2018 to 2023. Epoxy, polyurethanes, polyvinylchloride, hot melts, silicones, rubber, and acrylics are the most widely used types of adhesives and sealants in the country. Out of these, the demand for the epoxy variants was found to be the highest in 2017. This was because of the huge requirement for these adhesives and sealants, on account of their rigid bonding capabilities, which enables greater structural integrity of the automobile.
