|
Forecast
Period
|
2024-2028
|
|
Market
Size (2023)
|
USD
14.56 billion
|
|
CAGR
(2023-2028)
|
4.43%
|
|
Fastest
Growing Segment
|
Polyurethane
|
|
Largest
Market
|
South-Central
|
Market Overview
China Adhesives Market has
valued at USD 14.56 billion in 2022 and is anticipated to project robust growth
in the forecast period with a CAGR of 4.43% through 2028. Adhesives are
extensively utilized in the construction of buildings, roads, railways, and for
bonding automotive parts. Based on the type of polymer, adhesives can be
classified as acrylics, vinyls, polyurethane, and rubber-based adhesives.
Water-based adhesives, known for their eco-friendliness and zero 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 witnessing significant growth due to the booming
infrastructure and construction activities, as well as the increasing
automotive manufacturing sector. Concerns regarding harmful VOC emissions from
solvent-based adhesives are driving the transition to bio-based alternatives.
Additionally, continuous advancements in adhesive technologies have expanded
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. Furthermore, adhesive manufacturers are 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 of Adhesives in Packaging Industry
China, a prominent
manufacturing hub on a global scale, has experienced remarkable growth in its
adhesives market. This growth can be primarily attributed to the increasing
demand for innovative packaging solutions. In today's context, packaging serves
as an integral component of branding, conveying product information, and
enhancing convenience. Adhesives play a pivotal role in achieving these
objectives by providing secure bonding, flexibility, and customization options.
The global drive towards sustainable practices has significantly influenced the
packaging industry. Adhesives facilitate the use of recyclable materials and
reduce the need for excessive packaging, thereby enabling the creation of
eco-friendly packaging. China's dedication to environmental conservation has
further accelerated this trend, resulting in a growing demand for adhesives
that support sustainable packaging solutions. Adhesives offer a wide range of
design and functionality possibilities. From self-adhesive labels to resealable
closures, adhesives enable packaging solutions that offer both convenience and
aesthetic appeal. As Chinese consumers become more discerning, brands are
embracing innovative packaging designs to engage their target audience, thereby
driving the demand for adhesive technologies. The rapid growth of e-commerce
has reshaped the packaging landscape. Online shopping necessitates packaging
that ensures product integrity and provides protection against the rigors of
shipping and handling. Adhesives play a crucial role in securing packages
during transit, safeguarding the product and enhancing the overall customer
experience. Technological advancements in the adhesive industry have resulted
in the development of products with enhanced bonding capabilities, resistance
to temperature fluctuations, and improved durability. These attributes are
particularly valuable in packaging solutions for food, electronics, and other
sensitive products. China's position as a manufacturing powerhouse has
positioned it at the forefront of the packaging revolution. Furthermore,
China's aspirations to become a global leader in technological innovation
perfectly align with the trajectory of the adhesive industry. The development
of smart packaging, incorporating elements such as RFID tags and sensors, will
heavily rely on adhesives to seamlessly integrate these technologies into
packaging materials.
Growing
Demand of Adhesives in Construction Industry
In China, the largest
construction market globally, the demand for adhesives has been steadily
increasing. This growth is driven by their essential role in enhancing
structural integrity, efficiency, and sustainability. Traditionally,
construction heavily relied on mechanical fastening methods like nails, screws,
and bolts. However, these methods often introduced weaknesses such as potential
corrosion and material stress concentrations. In contrast, adhesives offer a
seamless bonding process that evenly distributes stresses across the surface,
minimizing vulnerabilities. Adhesives have evolved to be compatible with
various substrates, including concrete, steel, glass, and composites. They
provide improved durability, reduced weight, and enhanced design flexibility,
making them an attractive choice for architects, engineers, and contractors.
Adhesives play a critical role in enhancing the structural integrity of
buildings by distributing loads and stresses evenly, resulting in improved
load-bearing capacity and overall performance. This is particularly crucial in
high-rise buildings and structures subject to dynamic loads like earthquakes
and wind. Additionally, adhesive application is often faster and requires less
labor compared to traditional mechanical fastening methods, leading to reduced
construction timelines and costs. Moreover, adhesives enable innovative
architectural designs that were previously unattainable with conventional
methods. The seamless bonding of materials opens new possibilities for creative
and sustainable structures. Modern adhesives are formulated to withstand harsh
environmental conditions, temperature fluctuations, and chemical exposure,
resulting in longer lasting and more resilient constructions. Furthermore,
adhesives contribute to improved energy efficiency by eliminating thermal
bridging, reducing energy consumption for heating and cooling. Additionally,
their use aligns with sustainable construction practices by reducing material
waste and promoting lightweight construction. China's rapid urbanization and
infrastructure development have generated an unprecedented demand for new
construction projects. The government's focus on sustainable urban planning and
development has further driven the adoption of innovative construction methods,
where adhesives have gained prominence. In line with this trend, the adhesive
industry in China has flourished. Domestic adhesive manufacturers have made
significant investments in research and development to produce products
tailored to the unique demands of the construction sector. This has resulted in
a diverse range of adhesives, including structural adhesives that offer high
bond strength and weather-resistant adhesives ideal for external cladding.
Growing
Demand of Adhesives in Healthcare Industry
The healthcare industry
plays a pivotal role in our lives, providing essential medical care and
groundbreaking treatments. Behind the scenes, there are various components that
ensure the seamless functioning of this industry, and one such component is adhesives.
Adhesives have gained increasing significance in the healthcare sector, driving
the growth of the adhesives market in China. China, with its robust healthcare
infrastructure and rapidly expanding population, has witnessed a surge in the
demand for adhesives in the healthcare industry. Let's delve deeper into the
reasons behind this growing demand and its impact on the adhesives market in
China. Medical devices, including wound dressings, surgical tapes, and drug
delivery systems, require durable and reliable adhesives to ensure effective
adherence and patient comfort. As the demand for these medical devices
increases, so does the need for specialized adhesives. China, being one of the
largest manufacturers of medical devices, has observed a significant rise in
the production of these devices, consequently driving the demand for adhesives.
Advancements in surgical techniques have led to a shift towards minimally
invasive procedures in the healthcare industry. Adhesives play a vital role in
these procedures by enabling the secure attachment of medical devices, such as
catheters and sensors, within the body. The use of adhesives reduces the
invasiveness of surgeries, promotes faster healing, and enhances patient
comfort. The growing adoption of minimally invasive procedures in China has
resulted in an increased requirement for specialized medical adhesives.
Adhesive-based wound dressings have revolutionized wound care management. These
dressings provide a barrier against infections, facilitate the healing process,
and offer superior flexibility and comfort to patients. The rising prevalence
of chronic wounds, such as diabetic ulcers and pressure sores, has spurred the
demand for advanced adhesive dressings in China's healthcare sector. This, in
turn, has contributed to the growth of the adhesives market. China is
undergoing a significant demographic shift, with a rapidly growing aging
population. The elderly population is more susceptible to health issues,
including chronic wounds and mobility-related problems, which necessitate
specialized medical adhesives. As the geriatric population continues to expand,
the demand for adhesives in the healthcare industry, particularly in long-term
care facilities and hospitals, is expected to rise steadily. The healthcare
industry is in a constant state of evolution driven by technological
innovations. From wearable medical devices to advanced surgical procedures,
these innovations rely on adhesives for successful implementation. China has
been at the forefront of technological advancements in healthcare, creating a
favorable environment for the growth of the adhesives market. With the
increasing demand for adhesives in the healthcare industry, manufacturers in
China are concentrating on developing specialized adhesives that meet the
stringent requirements of the healthcare sector. These adhesives need to be
biocompatible, non-toxic, and possess strong bonding properties. Furthermore,
they must adhere to strict quality and safety standards imposed by regulatory
authorities.
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Key Market Challenges
Volatility
in Prices of Raw Material
Raw materials such as
resins, solvents, additives, and fillers are crucial components of adhesive
formulations. The prices of these raw materials can vary significantly due to
factors such as supply disruptions, changes in global demand and supply
dynamics, currency fluctuations, and geopolitical events. When the prices of
raw materials increase, it directly impacts the production costs for adhesive
manufacturers. This can compress profit margins and present challenges in
maintaining competitive pricing. Volatility in raw material prices can lead to
disruptions in the supply chain. Adhesive manufacturers depend on a steady and
consistent supply of raw materials to meet production demands. Sudden price
fluctuations can create uncertainty in the market, prompting manufacturers to
hoard or engage in panic buying. Consequently, this can disrupt the supply
chain, causing production delays and impacting customer orders. The unpredictability
of raw material prices poses a significant challenge for adhesive manufacturers
in long-term planning and forecasting. Price fluctuations make it difficult to
accurately estimate costs and plan for future production requirements. This
uncertainty affects decision-making processes, inventory management, and
resource allocation. Adhesive manufacturers must continuously monitor and
analyze market trends to mitigate the impact of price volatility on their
operations. Volatility in raw material prices exerts pressure on profit margins
within the adhesive industry. When the cost of raw materials increases,
manufacturers must decide whether to absorb the additional costs or pass them
on to customers through higher product prices. Balancing profitability and
market competitiveness becomes a delicate task. Adhesive manufacturers often
find themselves in a challenging position where they must navigate between
maintaining reasonable profit margins and meeting customer price expectations.
Key Market Trends
Growing
in Technological Advancements
The
adhesives market in China has been experiencing significant growth, primarily
driven by technological advancements. Notably, electronic adhesives have
witnessed a profound impact due to the increasing demand for electronic devices
like smartphones, tablets, laptops, wearables, and other consumer electronics.
This surge in demand necessitates high-performance adhesives that offer
enhanced bonding strength, thermal conductivity, and protection against
environmental factors such as moisture. Given China's role as a major
electronic manufacturing hub, there exists a substantial market for advanced
electronic adhesives in the country. Furthermore, the rollout of 5G technology
has emerged as another key driver of technological advancements in the Chinese
adhesives market. The assembly of intricate and miniaturized components
required by 5G technology demands adhesives with exceptional precision and
performance capabilities. In response, adhesive manufacturers are developing
specialized formulations that can withstand the rigors of 5G applications,
including high-frequency vibrations and extreme temperatures. These
technological advancements facilitate the seamless integration of 5G
infrastructure and support the development of advanced communication networks.
Moreover, technological advancements in the adhesive industry are also
fostering a shift towards sustainable adhesives in China. With growing
environmental concerns, there is an increasing demand for adhesives that are
free from harmful chemicals, volatile organic compounds (VOCs), and other
hazardous substances. Adhesive manufacturers are investing in research to
develop bio-based adhesives, water-based formulations, and other eco-friendly
alternatives. This aligns with China's commitment to sustainable development
and the reduction of environmental impact in industrial processes.
Segmental Insights
Resin Type Insights
In 2022, the adhesives market was dominated by the polyurethane
and is predicted to continue expanding over the coming years. Polyurethane adhesives are known for their
versatility and performance across a wide range of applications. They can bond
different types of materials, including metals, plastics, wood, and textiles,
making them suitable for various industries such as automotive, construction,
electronics, and footwear. Polyurethane adhesives provide strong and durable
bonds, even in challenging conditions like high temperatures or exposure to
moisture. This reliability makes them attractive for use in products that need
to maintain their integrity over time.
End Use Industry Insights
In 2022, the adhesives market was dominated by packaging
segment and is predicted to continue expanding over the coming years. China has experienced rapid economic growth and
urbanization, leading to an increase in consumerism and the demand for packaged
goods. As more products are packaged for distribution and sale, the demand for
adhesives used in packaging applications naturally increases. The adhesive
industry has been evolving to meet the demands of sustainable packaging
solutions. environmentally friendly packaging materials and adhesives are being
developed to reduce the environmental impact of packaging waste. China's focus
on sustainability and environmental regulations has driven the adoption of such
innovations.
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Regional Insights
The South-Central
region has established itself as the leader in the China Adhesives Market. The
South-Central region of China, which includes provinces like Guangdong, Hunan,
Hubei, and Jiangxi, is known for its strong industrial base. This region has
witnessed significant industrial development, including the establishment of
numerous manufacturing facilities, particularly in sectors such as electronics,
automotive, packaging, and construction. These industries have a high demand
for various types of adhesives, leading to the dominance of the South-Central
region in the market.
Recent
Developments
- In February
2022, Arkema completed the acquisition of Shanghai Zhiguan Polymer
Materials (PMP), a specialized provider of hot-melt adhesives for the
consumer electronics industry.
- Under the
Nuplaviva brand, Arkema introduced a new line of disposable hygiene
adhesive solutions formulated with bio-based renewable materials in
December 2021.
- 3M unveiled
a new generation of acrylic adhesives in October 2021, including the 3M
Scotch-Weld Low Odor Acrylic Adhesive 8700NS Series, 3M Scotch-Weld
Flexible Acrylic Adhesive 8600NS Series, and 3M Scotch-Weld Nylon Bonder
Structural Adhesive DP8910NS.
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.
|
By Resin Type
|
By Technology
|
By End Use Industry
|
By Region
|
- Acrylic
- Cyanoacrylate
- Epoxy
- Polyurethane
- Silicone
- VAE/EVA
- Others
|
- Hot Melt
- Reactive
- Solvent-borne
- UV Cured Adhesives
- Water-borne
|
- Aerospace
- Automotive
- Construction
- Healthcare
- Packaging
- Others
|
- East
- North & North-East
- Southwest
- South-Central
- Northwest
|
Report
Scope:
In this report, the China
Adhesives Market has been segmented into the following categories, in addition
to the industry trends which have also been detailed below:
- 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
Competitive
Landscape
Company
Profiles: Detailed analysis of the major companies present in
the China Adhesives Market.
Available
Customizations:
China Adhesives Market report
with the given market data, Tech Sci Research offers customizations according
to a company's specific needs. The following customization options are
available for the report:
Company
Information
- Detailed
analysis and profiling of additional market players (up to five).
China
Adhesives Market is an upcoming report to be released soon. If you wish an
early delivery of this report or want to confirm the date of release, please
contact us at [email protected]