Adhesives are substances capable of holding materials together by surface attachment which is due to molecular forces existing in the area of contact. All adhesives either contain polymers or else polymers are formed within the adhesive bond. They are widely used in almost all items produced nowadays, be it for any consumer goods or any industrial output. The importance of adhesives has been growing with increasing development and growing industrialization. Asia adhesives market has comprised almost half of the global adhesives market over the past few years. The presence of Asia’s adhesives market in global position has been increasing over the past few years. The rising demand in developing countries such as China, India, South Korea, Malaysia and Vietnam are driving the adhesives market. In 2014, China was the leading player followed by Japan, South Korea and India.
China adhesive market has been a vibrant industry witnessing large scale participation from global as well as domestic manufacturers. In terms of revenue generation the industry claimed the top spot in Asia in terms of value as well as volume. After 2011 the industry witnessed a hit in terms of market size owing to the global economic crisis and as a result the growth in the industry significantly declined to 15.1% in 2012. China has flourished in the recent past on the grounds of new product launches as well as active value and supply chain management. The chain starts with manufacturers who are solely responsible for the manufacturing of adhesives
The adhesives market in China has been the largest adhesive industry in Asia, which grew by 7.3% in 2010. The potential of the Chinese economy to minimize the impact of the global economic unrest acted as a prime reason behind fierce recovery of the market size of the china adhesive industry. Well established industrial sector in China served as a continuous source of demand for the adhesive industry and thus the industry did not face exponential fall in domestic demand. . The contribution of solvent based adhesives has been diminishing in the industry owing to the harmful environmental impacts resulting from their usage.
The adhesives market in China has been segmented into Polyvinyl Acetate, Epoxy, Polyurethane, Acrylic and EVA on the basis of type of adhesives. Polyvinyl acetate adhesives have been the market leaders in the industry. Polyvinyl acetate adhesives commonly include school glue and carpenter’s glue. The highest share of polyvinyl acetate adhesive can be attributed to its wide application in the consumer segment. Epoxy adhesives captured the second highest share in China’s adhesives market in 2014. The market for adhesives in Japan has also been segmented into Natural and Synthetic adhesives.
China adhesives market can be also be segmented on the basis of structural, semi-structural and non-structural adhesives. Structural adhesive is a sort of adhesive with high strength and high performance among adhesives, consisting mainly of silicone structural adhesive, epoxy structural adhesive, polyurethane adhesive, etc. Chinese structural adhesive market size grows rapidly. In 2014, In addition, the non-structural adhesives contributed 30.0% of the overall adhesives revenue, The least contribution was made by semi-structural adhesives, The dominance of structural adhesives was mainly due to its additional properties such as it provides durability, additional stiffness and rigidity to the vehicle without increasing the mass, aiding superior riding comfort for passengers.
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