China Adhesives Market to Witness Double Digit Growth through 2019, says TechSci Research
BURNABY, British Columbia, June 9, 2014 /PRNewswire/ --
Adhesives market in China is expected to benefit from rising technological developments, increasing foreign investments and healthy growth in domestic end-user industries
China adhesives market has witnessed growth due to robustly growing manufacturing sector in the country, which is evident by the fact that the country's manufacturing PMI has remained above 50 during 2009-13, with only a few exceptions. China's import dependence decreased by 5% in 2012, due to establishment of various new raw material plants across the country, while the country's exports have shown an upward trend, registering a growth rate of around 6% in the same year. The country has always been an attractive market for foreign investors due to availability of cheap labor, growing middle class population and easy procurement of raw materials. Henkel Co. Ltd., the global leader in adhesives business holding around 26% of global market share, has opened the world's largest adhesive production plant with an annual capacity of around 428,000 tons in Shanghai, China in 2013. Such huge investments would positively influence and drive the adhesives market in China in coming years.
The versatility of adhesives has made them the preferred choice for bonding two similar or dissimilar substrates. Consequently, adhesives find widespread use in major industries like transportation, construction and automotive. The growth rate for global adhesives industry has been estimated at about 3-4%, while China's adhesives industry is forecast to grow at a CAGR of over 10% during 2014-19. As a result, China is expected to emerge as a focal point of global adhesives market as concluded in a recently published report titled "China Adhesives Market Forecast &Opportunities, 2019" by TechSci Research.
"Water-based adhesive technology is expected to dominate the adhesive market, particularly due to increasing consumer preference for environment friendly products. Additionally, the government is expected to introduce stringent measures for Volatile Organic Compound (VOC) emissions, which is likely to impact the market share of solvent-based adhesives," said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"China Adhesives Market Forecast & Opportunities, 2019" has evaluated the future growth potential of adhesives market in China and provides statistics and information on market structure, industry behavior and trends. The report includes adhesives market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in the adhesives market in China.
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SOURCE TechSci Research