Adhesives Market Continues Moving On The Fast Track
Based on the report from China Adhesives and Tape Industry Association, the adhesives production in China in 2014 was 6.59. million tons and total sales of adhesives was 82.3 billion RMB, increased respectively by 7.8 percent and 6.1 percent over 2013. And it is estimated that China’s adhesive market will be more than 100 billion RMB for the first time in history in 2015.
The growth of new markets, including high speed train, passenger car, consumer electronics, clean energy, aircrafts and packaging, provides growth potentials for adhesives. Furthermore, the Chinese government lists adhesive as an industry into which foreign companies are still encouraged to invest. However, like the coatings market, the adhesives market is experiencing structure adjustment. High performance, environmentally friendly adhesives are on the path to becoming mainstream products in the Chinese market. The development of EVA hot melt adhesives and non-solvent polyurethane and silicon adhesives is outpacing the development of traditional varieties such as solvent-based adhesives.