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China’s adhesive market is highly fragmented, with more than 3500 regional players engaged in manufacturing and supplying adhesives. However, several regional players remain constrained in terms of research and technological advancements, which has been the main reason for low product competitiveness in the market.
Moreover, the structure of the adhesives market varies as per different product segments. For instance, in polyvinyl adhesives segment, there are numerous players supplying similar kinds of products, thereby reducing product competitiveness in the market. On the contrary, the market for polyurethane adhesives is largely oligopolistic, with only few players manufacturing and supplying PU adhesives.
China is an attractive market for adhesives, particularly as demand from end-user industries remains significantly high as compared to demand in western markets, thereby indicating latent opportunities in the China adhesives market.
In China, application of adhesives is witnessing growth in various end-use applications such as composites, wind energy, nonwoven technology, commodity, F&B, labels and packaging.
The growth in the adhesives market has attracted significant foreign investment from players like Henkel, HB Fuller and 3M.
These are just some of the highlights from TechSci Research’s report ‘China Adhesives Market Forecast & Opportunities, 2019’ (www.techsciresearch.com). It goes on to say that the Chinese adhesives market is expected to witness a CAGR of 10.2% during 2014-19, with market for structural adhesives advancing at a CAGR of around 15% during the same period.