MIDDLE EAST & AFRICA AUTOMOTIVE ADHESIVES & SEALANTS MARKET - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028

 The market for automotive adhesives and sealants in the Middle East and Africa is anticipated to grow at a CAGR of 6.88%. The demand for automotive adhesives and sealants has increased as a result of the expansion of the Middle East and African automotive industries. Major African nations saw an increase in automobile manufacturing, including South Africa, which contributed 0.58% of the world's vehicles in 2020 and is anticipated to climb significantly due to the launch and demand for electric vehicles in the projected period 2022–2028. Over the projection period of 2022–2028, this trend is anticipated to increase demand for adhesives and sealants needed for the production of automobiles.  

The major automotive companies in the Middle East & Africa, such as Hyundai, are working on making the vehicles light in weight so as to improve fuel efficiency and as cost-cutting measures. To achieve this, automotive adhesives and sealants are used to replace bulkier metallic frames and joinery components such as welding joints, screws, and bolts. This technology development will lead to an increase in demand for automotive adhesives and sealants in mentioned period of 2022-2028.  

The abrupt reductions in revenue and demand for automotive adhesives and sealants in 2020 are due to the impact of the COVID-19 pandemic, which caused an overall economic slowdown and value chain disruptions. Passenger vehicle sales in Africa decreased from 850,000 vehicular units in 2019 to 650,000 vehicular units in 2020. This growth was recovered in 2021 because of government policies that were meant to support the automotive industry, as it covers the major portion of the GDP of a nation.   

Major Market Players:  Dow, H.B. Fuller Company, Henkel AG & Co. KGaA, Huntsman International LLC and Sika AG

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