China Adhesives Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

China Adhesives Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

The China Adhesives Market is projected to register a CAGR of 6.90%

Key Highlights

• Largest Segment by End User Industry - Packaging : The packaging industry holds the largest share of the market owing to its widespread applications, including labels, tapes, carton sealing, joining, and labeling.
• Fastest-growing Segment by End User Industry - Aerospace : The aerospace industry has registered as the fastest end-user segment in the market owing to the rapid expansion of general and military aviation in the domestic market.
• Largest Segment by Technology - Water-borne : Waterborne technology, an eco-friendly and economically viable solution, has obtained a major share of the market due to its well-recognized usage in food packaging applications through emulsion and dispersion systems.
• Largest Segment by Resin - Polyurethane : Polyurethane adhesives have the largest share owing to their wide applications in building construction, woodworking, and automotive industries, specifically for exterior applications.

Key Market TrendsPackaging is the largest segment by End User Industry.

• Adhesives in China are categorized according to their application. Construction and packaging are the most important consumers in the country, accounting for roughly 54% of total adhesive users, owing to China's fastest-developing industries. China's adhesives consumption declined in 2020 due to the impact of COVID-19. In terms of volume, demand declined by approximately 8% in the same year as in 2019. The country's lockdown for around half a year, which prompted production facilities to shut down, and personnel unavailability are two of the primary reasons for the reduction in adhesives production and consumption in China.
• Before the establishment of New China, the packaging industry failed to keep pace, but the situation immediately and fully altered with the establishment of New China. China's packaging industry has advanced from tiny to huge and weak to strong, creating a fully modern packaging system and becoming the world's packaging power. The number of companies over the required size in China's packaging sector reached about 8,831 in 2021, an increase of 648 from 2020.
• China is the world's largest construction market, with an annual average growth rate of 8.6% projected between 2022 and 2030. However, it is heavily leveraged, and the government is enacting efforts to wean the economy off its reliance on land sales. At the same time, the sector is being impacted by an aging population and a general economic slump. Recent design and building trends in China emphasize local communities, younger people, and culturally relevant projects. All such factors tend to increase the demand for adhesives in the country.

Competitive Landscape

The China Adhesives Market is fragmented, with the top five companies occupying 14.04%. The major players in this market are 3M, H.B. Fuller Company, Henkel AG & Co. KGaA, Hubei Huitian New Materials Co. Ltd and NANPAO RESINS CHEMICAL GROUP (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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