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Chinese Structural Adhesives Markets
Frost & Sullivan, Sep 2009, Pages: 131
In this research service, in-depth market analysis, competitive analysis, and forecasts are provided for each segment. Forecasts are provided in the terms of revenues, as well as unit shipment. This research service analyzes the challenges and megatrends for the whole industry and discusses the drives and restraints for both the total market and each market segment. Database of key industry participants is also offered in this research service.
Research Overview
This Frost & Sullivan research service titled Chinese Structural Adhesives Markets provides the total Chinese structural adhesives market size, market penetration, and market segment revenue breakdown. This research service analyzes the challenges and trends in the market and discusses the drivers and restraints for both the total market as well as each market segment. In this research, Frost & Sullivan's expert analysts thoroughly examine the following market segments: acrylics, anaerobic, cyanoacrylate, epoxy, polyurethane, and other structural adhesives.
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Market Overview
Booming Construction and Automotive Industry Drives the Chinese Structural Adhesive Market
The total Chinese structural adhesives market is experiencing medium growth, with a growth rate of 7.8 percent in 2008. The compound annual growth rate (CAGR) is expected to be 8.6 percent from 2008 to 2015. According to the Ministry of Construction of the People’s Republic of China, new housing and commercial buildings area is set to increase from 1.50 billion to 2.00 billion square meters in the future. Such trends will support the uptake of structural adhesives in China. 'The booming building and construction industry in China will boost the Chinese structural adhesive market,' says the analyst of this research. 'Excellent prospects of the Chinese automotive market are likely to be the key driver of the structural adhesive market.'
Industry integration, mainly vertical integration, is expected to be the primary trend in the Chinese structural adhesive market. It is a fiercely competitive market due to the presence of a large number of competitors, leading to overcapacity and price competition. Leading manufacturers tend to expand through mergers and acquisitions (M&As), rather than by opening new operations. Some companies are likely to be eliminated due to low profit margins. With improved lifestyles, consumers are more concerned about the health and safety of the products. Structural adhesives are widely used in the automotive, buildings, machineries, airplane, medical machines, and other segments.
Structural Adhesives Manufacturers to Make Their Products ‘Green’
Some adhesives are likely to be welcomed by end users, such as water-based, hot melt, polyurethane, and silicon adhesives, which are ‘green’ to some extent. Other adhesives such as polyvinyl formal adhesives and neoprene adhesives that are hazardous to health are expected to be phased out. However, several local Chinese industrial manufacturers still prefer mechanical bonding systems rather than structural adhesives, as mechanical bonding and sealing systems are relatively technologically mature. Although the scenario is unlikely to change in the near future, technicians are increasingly starting to accept structural adhesives. 'On the one hand, assembly technologies employed by local manufactures typically use mechanical bonding systems,' states Yang. 'On the other hand, several local technicians are of the opinion that structural adhesives are not as reliable as mechanical bonding equivalents.'
Currently, concerns about environmental protection and product safety have become a global trend. These have been accompanied by improved lifestyles in China due to the booming economy over the last three decades. Chinese customers are increasingly demanding more value from their products. For instance, they usually consider health factors when they buy a house. Moreover, as a world-manufacturing hub, China exports a significant number of products. 'Health concerns by consumers worldwide have affected the Chinese structural adhesive market,' explains the analyst. 'The government has implemented tighter regulations and laws such as the new version of waste water treatment standards.'
Structural adhesives manufacturers need to invest more in environmental protection and improving their products’ health performance. Lowering the volatile organic compound (VOC) and hazardous substances in adhesives is extremely critical for manufacturers, especially for building applications. In fact, green structural adhesives with a low VOC and hazardous substance profile are forecast to be widely used in house interiors. Manufacturers that succeed in making their products environmentally friendly and healthy will survive. 'An effective brand strategy will eliminate low-end competition and virulent price competition,' concludes the analyst. 'A well-known branded product can look beyond a regional market to succeed in a country-wide as well as global market.'
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
By Adhesive Type:
- Acrylics
- Anaerobic
- Cyanoacrylate
- Epoxy
- Polyurethane
- Other structural adhesives
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