Electric Vehicle Adhesives Market is Expected to Register Lucrative Growth By 2027


Anjalih

Uploaded on Aug 20, 2021

Category Business

The global electric vehicle adhesives market was valued at US$ 261.3 Mn in 2018 and is anticipated to expand at a CAGR of ~32% during the forecast period. Asia Pacific has become the hub of the automotive industry over the last few years. Increase in demand for electric vehicles in emerging countries such as China and India is driving the automobile industry in the region. This is boosting the demand for electric vehicle adhesives. Strong government support and ad-hoc tax incentives have led to robust double-digit sales growth in automotive and electric vehicle industries in China. Rise in demand for small and battery-based efficient passenger vehicles in countries such as Thailand, Malaysia, and Indonesia is also anticipated to propel the automobile sector. This, in turn, is projected to augment the electric vehicle adhesives market.

Category Business

Comments