(MENAFN- PR Newswire) DUBLIN, Nov. 23, 2023 /PRNewswire/ -- The
"China Adhesives market Competition Forecast & Opportunities, 2028" report has been added to
ResearchAndMarkets's offering.
In 2022, the China Adhesives Market reached a valuation of $14.56 billion, and it is expected to exhibit robust growth throughout the forecast period, with a Compound Annual Growth Rate (CAGR) of 4.43% projected through 2028 and is expected to reach at $18.69 billion by 2028.
Adhesives play a pivotal role in diverse sectors, including construction, automotive, and packaging. These adhesives are categorized based on polymer types, such as acrylics, vinyls, polyurethane, and rubber-based adhesives. Water-based adhesives, known for their eco-friendliness and zero Volatile Organic Compound (VOC) emissions, find applications in labels, packaging, woodworking, textiles, construction, high-pressure laminate bonding, and lightweight systems in the automobile industry.
The adhesive market in China is experiencing significant growth driven by booming infrastructure and construction activities, as well as the expansion of the automotive manufacturing sector. Concerns regarding harmful VOC emissions from solvent-based adhesives are propelling the shift towards bio-based alternatives.
Furthermore, continuous advancements in adhesive technologies are expanding their capabilities, including improved bonding strength, faster curing, higher temperature resistance, and enhanced flexibility, thereby widening the range of applications. Technological innovations continue to drive product development and customization to meet industry-specific requirements, fostering market growth.
Adhesive manufacturers are also investing in research and development to introduce advanced products with enhanced performance, durability, and efficiency. Continuous innovation enables the development of adhesives that can bond to various substrates, withstand extreme environments, and offer specialized properties. R&D activities play a vital role in expanding application possibilities and enhancing overall product quality, thereby driving market growth.
Key Market Drivers:
Growing Demand for Adhesives in the Packaging Industry:
China's prominence as a global manufacturing hub has led to remarkable growth in its adhesives market, largely attributed to the rising demand for innovative packaging solutions. Packaging has evolved into a critical component of branding, product information conveyance, and convenience enhancement. Adhesives play a pivotal role in achieving these objectives by providing secure bonding, flexibility, and customization options.
The global shift towards sustainable practices has significantly influenced the packaging industry. Adhesives facilitate the use of recyclable materials and reduce excessive packaging, enabling eco-friendly packaging creation. China's commitment to environmental conservation has further accelerated this trend, resulting in a growing demand for adhesives that support sustainable packaging solutions.
Growing Demand for Adhesives in the Construction Industry:
China, as the largest global construction market, has witnessed a steady increase in the demand for adhesives due to their role in enhancing structural integrity, efficiency, and sustainability. Traditionally, construction relied on mechanical fastening methods like nails, screws, and bolts, which introduced weaknesses such as potential corrosion and material stress concentrations.
Growing Demand for Adhesives in the Healthcare Industry:
The healthcare industry's pivotal role in providing medical care and treatments has led to a surge in the demand for adhesives, particularly in China, with its robust healthcare infrastructure and expanding population. Medical devices, including wound dressings, surgical tapes, and drug delivery systems, require durable and reliable adhesives to ensure effective adherence and patient comfort.
Segmental Insights:
Resin Type Insights:
In 2022, polyurethane dominated the adhesive market and is projected to continue expanding. Polyurethane adhesives are versatile and suitable for various applications, offering strong and durable bonds across different materials, making them ideal for industries such as automotive, construction, electronics, and footwear.
End-Use Industry Insights:
The packaging segment dominated the adhesive market in 2022 and is expected to continue growing. China's economic growth, urbanization, and consumerism have led to increased demand for packaged goods, driving the use of adhesives in packaging applications. Sustainable packaging materials and adhesives are being developed to align with environmental regulations.
Regional Insights:
The South-Central region, encompassing provinces like Guangdong, Hunan, Hubei, and Jiangxi, leads the China Adhesives Market. This region's strong industrial base, including electronics, automotive, packaging, and construction industries, drives significant demand for various adhesives, establishing South-Central China's dominance in the market.
Key Market Players
Henkel (China) Investment Co. Ltd. 3M China Limited Huntsman Corporation Beijing Comens New Materials Co. Ltd. Shanghai Kangda New Materials Co. Ltd. Qingdao Winlong Chemical Industrial Co., Ltd.
Report Scope:
China Adhesives Market, By Resin Type:
Acrylic Cyanoacrylate Epoxy Polyurethane Silicone VAE/EVA Others
China Adhesives Market, By Technology:
Hot Melt Reactive Solvent-borne UV Cured Adhesives Water-borne
China Adhesives Market, By End Use Industry:
Aerospace Automotive Construction Healthcare Packaging Others
China Adhesives Market, By Region:
East North & North-East Southwest South-Central Northwest
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