BURNABY, Canada, August 12, 2015 /PRNewswire/ --
Growing demand from automobile, construction and packaging sectors to drive growth in China adhesives market
According to TechSci Research report, "China Adhesives Market Forecast & Opportunities, 2020", adhesives market in China is forecast to surpass 11 million metric tons by 2020. Adhesives find application across various industries such as construction, automobile, packaging, woodworking, etc. China adhesives market is fragmented and highly competitive comprising over 3,000 players. Henkel China, 3M China, H.B Fuller China, Sika China and Dow China are few of the leading adhesives producing companies operating in China. Other major regional players include Bostik Findley China, Huntsman Corporation and Beijing Comens New Materials Co., Ltd.
Rising investments by Chinese government in construction projects such as railways, airports, etc. coupled with expansion of automotive manufacturing plants in the country is forecast to drive adhesives market in China through 2020. In China, polyurethane polymer adhesives are witnessing the fastest growth among all the adhesive categories. Polyurethane adhesives are mainly used in automobile, assembly operations and footwear industries. Owing to their high elastomeric properties and durability, they are suitable for heavy duty applications. Further, these adhesives have strong resistance against chemical, moisture and heat resistance, making them ideal for wide application areas.
Growing adoption of eco-friendly furniture and greener packaging options for food is also driving demand for adhesives free from harmful VOC emissions. Moreover, growing consumption of adhesives from various end user industries is leading to adhesives manufacturers setting up new production facilities in the country and this trend is expected to continue through 2020. A majority of end user industries are shifting towards adhesives produced using water based formulating technology, as they are non-toxic and have high strength properties.
"China adhesives market will continue to exhibit promising growth over the next five years on account of increasing demand from various end user sectors such as automotive, construction, packaging, woodworking, etc. However, rising awareness levels among consumers has driven the shift towards use of eco-friendly adhesives. In addition, adoption of green adhesives due to health concerns related to VOC emissions, is leading to consumers switching from solvent based adhesives to solvent less adhesives." said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"China Adhesives Market Forecast & Opportunities, 2020" has analyzed the potential of the adhesives market and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges faced by the industry.
About TechSci Research
TechSci Research is a global market research and consulting company with offices in Canada, UK and India. TechSci Research provides market research consulting services in six verticals - Information Technology, Chemicals, Water & Water Recycling, Consumer Goods & Retail, Automotive and Energy & Power. The company uses proprietary innovative business model that focuses on improved productivity that also ensure the creation of high-quality reports. With more than 100 client engagements with fortune 500 clients, TechSci Research enjoys the status of a premium market research services provider in the industry.
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