Adhesive for New Energy Vehicle Batteries Market by Material Type, Formulation, Application, Vehicle Type

Description

List of Tables

The Adhesive for New Energy Vehicle Batteries Market was valued at USD 1.06 billion in 2023, expected to reach USD 1.24 billion in 2024, and is projected to grow at a CAGR of 17.27%, to USD 3.24 billion by 2030.

The market for adhesives used in new energy vehicle (NEV) batteries is increasingly crucial due to the ongoing shift toward electric vehicles (EVs) and renewable energy transportation solutions. Adhesives in this context are defined as specialty materials that bond components within battery assemblies, ensuring structural integrity, thermal management, and mechanical protection. The necessity for these adhesives is driven by the rapid growth of the NEV market, where the demand for efficient, durable, and safe battery systems is paramount. They find application in cell-to-cell bonding, module assembly, and battery pack sealing, providing benefits such as enhanced energy efficiency and weight reduction, which are critical for optimizing EV performance. End-use scope predominantly includes passenger vehicles, commercial transportation, and supporting infrastructure like charging stations. Key growth factors include government mandates for emissions reduction, increasing investments in EV technology, and advancements in battery design. Market opportunities are amplified by the trend of lightweighting vehicles and innovations in adhesive formulations that enhance thermal management and electrical conductivity. Recommendations for capturing these opportunities involve investing in research to develop high-performance adhesives that cater to evolving battery technologies like solid-state and fast-charging systems. However, market growth is challenged by factors such as fluctuating raw material costs, environmental regulations regarding chemical compositions, and the need for adhesives that operate effectively across varying temperature ranges. Innovations in biodegradable adhesives and those with enhanced safety profiles represent viable areas for business expansion. The market remains dynamic, characterized by intense competition and rapid technological advancements, necessitating continuous innovation and adaptability to regulatory shifts and consumer preferences. Companies that focus on sustainable solutions and engage in strategic partnerships for technology development are likely to thrive in this evolving industry landscape.

KEY MARKET STATISTICS
Base Year [2023]	USD 1.06 billion
Estimated Year [2024]	USD 1.24 billion
Forecast Year [2030]	USD 3.24 billion
CAGR (%)	17.27%

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Adhesive for New Energy Vehicle Batteries Market

The Adhesive for New Energy Vehicle Batteries Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Rising consumer preference for high-performance and long-lasting batteries necessitating superior adhesives
- Adoption of lightweight materials in vehicle manufacturing driving the demand for advanced adhesive applications
- Rising adoption of electric vehicle driving the demand for specialized adhesives in battery manufacturing
Market Restraints
- Concerns over the thermal management and durability of adhesives under extreme operating conditions
Market Opportunities
- Integrating smart adhesive solutions to facilitate better thermal management in battery systems
- Increasing investments in eco-friendly adhesive formulations for sustainable electric vehicle battery production
Market Challenges
- Potential environmental hazards and recycling challenges associated with adhesive formulations

Porter's Five Forces: A Strategic Tool for Navigating the Adhesive for New Energy Vehicle Batteries Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Adhesive for New Energy Vehicle Batteries Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Adhesive for New Energy Vehicle Batteries Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Adhesive for New Energy Vehicle Batteries Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Adhesive for New Energy Vehicle Batteries Market

A detailed market share analysis in the Adhesive for New Energy Vehicle Batteries Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Adhesive for New Energy Vehicle Batteries Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Adhesive for New Energy Vehicle Batteries Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Adhesive for New Energy Vehicle Batteries Market

A strategic analysis of the Adhesive for New Energy Vehicle Batteries Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Adhesive for New Energy Vehicle Batteries Market, highlighting leading vendors and their innovative profiles. These include 3M Company, Arkema S.A., Avery Dennison Corporation, BASF SE, Bostik by Arkema, DIC Corporation, Dow Inc., DuPont, Evonik Industries AG, H.B. Fuller Company, Henkel AG & Co. KGaA, Hernon Manufacturing, Inc., Huntsman Corporation, Illinois Tool Works Inc., Jowat SE, Master Bond Inc., Panacol-Elosol GmbH, Parker Hannifin Corporation, Polytec PT GmbH, PPG Industries Inc., Sekisui Chemical Co., Ltd., Sika AG, Tesa SE, and Wacker Chemie AG.

Market Segmentation & Coverage

This research report categorizes the Adhesive for New Energy Vehicle Batteries Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Material Type, market is studied across Acrylic, Epoxy, Polyurethane, and Silicone. The Acrylic is further studied across Solvent-Based Acrylic and Water-Based Acrylic. The Epoxy is further studied across One-Component Epoxy and Two-Component Epoxy. The Polyurethane is further studied across Moisture-Curing Polyurethane and Thermoplastic Polyurethane.
Based on Formulation, market is studied across Hot Melt, Solvent-Based, UV Curable, and Water-Based.
Based on Application, market is studied across Battery Cell Manufacturing, Battery Pack Assembly, and Module to Pack Bonding. The Battery Pack Assembly is further studied across Cell To Pack Bonding and Thermal Interface Management.
Based on Vehicle Type, market is studied across Commercial Vehicles, Electric Bike, and Passenger Cars.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-3F575F19523F

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising consumer preference for high-performance and long-lasting batteries necessitating superior adhesives
  - 5.1.1.2. Adoption of lightweight materials in vehicle manufacturing driving the demand for advanced adhesive applications
  - 5.1.1.3. Rising adoption of electric vehicle driving the demand for specialized adhesives in battery manufacturing
- 5.1.2. Restraints
  - 5.1.2.1. Concerns over the thermal management and durability of adhesives under extreme operating conditions
- 5.1.3. Opportunities
  - 5.1.3.1. Integrating smart adhesive solutions to facilitate better thermal management in battery systems
  - 5.1.3.2. Increasing investments in eco-friendly adhesive formulations for sustainable electric vehicle battery production
- 5.1.4. Challenges
  - 5.1.4.1. Potential environmental hazards and recycling challenges associated with adhesive formulations
5.2. Market Segmentation Analysis
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Adhesive for New Energy Vehicle Batteries Market, by Material Type

6.1. Introduction
6.2. Acrylic
- 6.2.1. Solvent-Based Acrylic
- 6.2.2. Water-Based Acrylic
6.3. Epoxy
- 6.3.1. One-Component Epoxy
- 6.3.2. Two-Component Epoxy
6.4. Polyurethane
- 6.4.1. Moisture-Curing Polyurethane
- 6.4.2. Thermoplastic Polyurethane
6.5. Silicone

7. Adhesive for New Energy Vehicle Batteries Market, by Formulation

7.1. Introduction
7.2. Hot Melt
7.3. Solvent-Based
7.4. UV Curable
7.5. Water-Based

8. Adhesive for New Energy Vehicle Batteries Market, by Application

8.1. Introduction
8.2. Battery Cell Manufacturing
8.3. Battery Pack Assembly
- 8.3.1. Cell To Pack Bonding
- 8.3.2. Thermal Interface Management
8.4. Module to Pack Bonding

9. Adhesive for New Energy Vehicle Batteries Market, by Vehicle Type

9.1. Introduction
9.2. Commercial Vehicles
9.3. Electric Bike
9.4. Passenger Cars

10. Americas Adhesive for New Energy Vehicle Batteries Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Adhesive for New Energy Vehicle Batteries Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Adhesive for New Energy Vehicle Batteries Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Avery Dennison's new electrode fixing tapes advance safety and efficiency in electric vehicle battery assembly
- 13.3.2. Bostik and Polytec PT collaborate to advance thermal conductive adhesives for smart EV battery Solutions
13.4. Strategy Analysis & Recommendation
- 13.4.1. Avery Dennison Corporation

Companies Mentioned

1. 3M Company
2. Arkema S.A.
3. Avery Dennison Corporation
4. BASF SE
5. Bostik by Arkema
6. DIC Corporation
7. Dow Inc.
8. DuPont
9. Evonik Industries AG
10. H.B. Fuller Company
11. Henkel AG & Co. KGaA
12. Hernon Manufacturing, Inc.
13. Huntsman Corporation
14. Illinois Tool Works Inc.
15. Jowat SE
16. Master Bond Inc.
17. Panacol-Elosol GmbH
18. Parker Hannifin Corporation
19. Polytec PT GmbH
20. PPG Industries Inc.
21. Sekisui Chemical Co., Ltd.
22. Sika AG
23. Tesa SE
24. Wacker Chemie AG