Asia-Pacific Reactive Adhesives Market - Segmented by Resin Type, End-user Industry, and Geography - Growth, Trends and Forecast (2018 - 2023)
The Asia-Pacific reactive adhesives market is expected to register a moderate CAGR during the forecast period, 2018 to 2023. China is estimated to lead the market owing to its rapid increase in production of automotive and increase in installation of wind turbines. Wind turbines segment is expected to be the fastest growing by end-user industry.
Growing Demand from Automotive Industry
Reactive adhesives play a vital role in the automotive production for the adhesion of many materials, such as steel, aluminum, and other components of a vehicle. Polyurethanes and modified acrylics are some of the primarily used reactive adhesives in the assembling operation of cars and other vehicles. Other applications of reactive adhesives in the automotive industry include roof linings, bonding of seat units, glazing, sheet molding, etc. They can also be used to bond emblems, as well as anchor plates onto gear knobs. The automotive production in whole of Asia-Pacific grew by 3.3% YoY in the year 2017, as compared to 2016, reaching a total of 53,540,607 vehicles. The application of adhesive bonding enables a significant weight reduction of the vehicle, an increase of the body stiffness, improved crash performance/safety and enhanced NVH characteristics, as compared to conventional joining technologies. With increased emphasis on fuel efficiency and vehicular emission control, the reduction of vehicle body weight is gaining widespread importance across Asia-Pacific.
Wind Turbines - The Fastest Growing End-user Industry
The consumption of wind energy has been significantly increasing across Asia-Pacific owing to increase in demand for clean energy to reduce pollution. They offer many advantages, such as: they provide an unlimited & free energy, harvesting wind power is a clean and non-polluting way to generate electricity. Unlike other types of power plants, it emits no air pollutants or greenhouse gases. Reactive adhesives are used to bond blades together. They offer a solution of reduced weight, as well as providing benefits in reduced assembly time and corrosion protection.
China to Lead the Market
The total installed wind power capacity in China reached a total of 188,232 MW in 2017 registering a growth rate of 11.58%. China’s transport ministry and National Development and Reform Commission (NDRC) has planned to invest USD 724 billion during the period 2016-2018 to construct 303 key transportation projects including railways,highways, waterways, airports, and urban rail. Under the 13th five year plan (2016-2020), the Chinese government is planning for infrastructure development of 30,000 km of railway lines and 30,000 km of expressways. The production of light vehicles in China recorded a growth of 1.6% YOY, reaching a total of 24,806,687 units in 2017. The production of trucks in China recorded a growth of 28.5% YOY, reaching a total of 2,257,562 units in 2017. The government of China is planning to introduce more than 1 million electric vehicles by 2020 which is further expected to drive the market for reactive adhesives in the country.
Notable Developments in the Market
October 2017: H.B. Fuller’s finalized its acquisition of Royal Adhesives & Sealants for USD 1.575 billion. This acquisition is likely to deepen H.B. Fuller’s expertise in a range of sectors, such as medical, electronics, hygiene, transportation, construction, clean energy, and others
Major Players: Henkel AG, HB Fuller, Arkema, Sika AG, and 3M, among others.
Reasons to Purchase this Report
To understand the impact of end-user applications on the market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating resin type in the market
Countries expected to witness the fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)
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