Market Outlook of Adhesives and Sealants in China:
Adhesives and sealants have found utility in many new application areas in industrial sectors across China. This market is expected to grow at a CAGR of over 12% during the forecast period. The construction industry is the largest consumer of adhesives and sealants in China, accounting for a share of close to a third of the market followed by the packaging and wood industries. Increased spending by major vendors on the development of advanced adhesives and sealants is expected to impact the market positively over the forecast period.
Traditionally, adhesives have accounted for more than 85% of the market share. With an increase in product innovation, its share is expected to grow higher in the coming years.
Vendor Landscape of the Adhesives and Sealants Market in China:
International players are expected to acquire regional companies to consolidate their market share during the forecast period. There are many multinational, regional, and local vendors of adhesives that have established their presence in China. Local players have raised the bar of competition in the market by offering innovative products priced lower than those offered by their international counterparts. Local vendors compete in terms of cost with the international vendors while looking to improve on their offerings in terms of quality, features, and product range.
The leading vendors of the Adhesives and Sealants Market in China are as follows:
- H.B. Fuller
- Ashland
- Huitian
- Evonik
- WUXI WanLi
- Shanghai KangDa
- Wacker China
- Tong Yi Adhesives
- Yonghe Adhesive
- Henkel
Some of the other prominent vendors active in the market include 3M, BASF, Bayer, Bostik, Cyberbond Adhesives, DIC, Dow Chemical, DSM, Eastman, Jiangxi Ansheng Technology , Master Bond, Mitsui Chemicals , Paramelt Specialty Materials, Rhein Chemie, Sapici, Sika, ThreeBond Group, Toyo Ink, and Wingtai.
Market Demand for Eco-friendly Adhesives and Sealants in China:
Growing consumer awareness in China about the harmful effects of Volatile Organic Compound (VOC) emissions and its impact on the human health and environment has led to the formulation of stringent regulations by the Ministry of Environmental Protection in China. As a result, manufacturers of adhesives and sealants are developing eco-friendly products to fulfill the market demand.
Bio-based water-soluble adhesives and sealants, such as resin adhesives, dextrin adhesives, and starch adhesives are gaining wide acceptance in the market. Such adhesives ensure sustainable development and operational efficiency for manufacturers. They reduce energy consumption and production costs while enhancing product freshness, convenience, and attractiveness. All these features are in high demand in China and are a major factor that drives growth.
Adhesives and sealants find extensive usage in the automobile sector for both interiors and exterior applications. The interior applications include the use of sealants for sealing doors and windows, and adhesives for bonding decorative components. The exterior applications include side moldings and vinyl roofs, besides others. The rapid growth of the automobile industry in China has had a positive impact on the demand for adhesives and sealants in the country.
Segmentation of Adhesives and Sealants in China by Technology:
- Water-based
- Reactive
- Solvent-based
- Hot Melt
- Others
The water-based technology segment is expected to account for a major share of the market by 2019, followed by the reactive and solvent-based technology segments respectively.
Key Customer Segments of Adhesives and Sealants in China:
- Construction
- Packaging
- Wood Industry
- Fiber and Leather Processing
- Transportation and Others
The transportation and others segment includes the following industries and sectors:
- Transportation industry (rail, road, aerospace, and marine sectors)
- Paper industry
- Book binding sector
- Retail sector
- Assembly operations
- Others
Other Sections of the Report Include an Analysis on the Following:
- Volume Segmentation of Adhesives and Sealants Market in China
- Key Drivers and their Impact on the Adhesives and Sealants Market in China
- Key Challenges and their Impact on the Adhesives and Sealants Market in China
- Key Trends and their Impact on the Adhesives and Sealants Market in China
- Five Forces Analysis of the Adhesives and Sealants Market in China
- SWOT Analysis of Key Vendors of the Adhesives and Sealants Market in China
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