According to statistics, by 2020, the global market value of adhesives and plasticizers will reach 43.1955 billion US dollars. During this period, the main driving force of the adhesives and plasticizers market comes from the construction of China, India and Brazil. , automotive and packaging market development.
At the same time, people in the industry are also faced with the challenging factor of large fluctuations in raw material prices. The increasing requirements for environmental protection in regions such as the United States and Europe have hindered the market development of adhesives and plasticizers to some extent. Faced with various challenges, industry players are also striving to develop sustainable solutions to replace the original petroleum-based adhesives and plastic sealants. Sustainable adhesive and sealant products mainly use vegetable oils as raw materials to achieve environmental protection.
In 2013, water-based adhesives dominated the international market, accounting for 46% of total sales. Water-based adhesives do not contain volatile organic compounds and have less impact on the environment, which is the product's greatest development potential. In the next 10 years, water-based adhesives are expected to completely replace solvent-based adhesives in the US and European markets. From 2014 to 2020, the compound annual growth rate of the water-based adhesive market will reach 5.4%. By 2020, the global hot melt adhesive market capacity will reach 2.3799 million tons, with an average annual growth rate of 5.1% in the past six years.
In 2013, the global adhesive market capacity was 8.9766 million tons, and it is expected that the market capacity will reach 12.3922 million tons by 2020, with a compound annual growth rate of 4.7%. On the other hand, the global plastic sealant market capacity in 2013 was 1,764,500 tons, and it is expected to reach 2,371,500 tons by 2020, with a compound annual growth rate of 4.3%.
In 2013, acrylic adhesives accounted for 36.9% of the global adhesive market, and acrylic adhesives will be the fastest growing in the adhesive market from 2014 to 2020, with a compound annual growth rate of 5.3%. Following closely behind acrylic adhesives are PVA adhesives, which accounted for 28.1% of the total market share. For the plastic sealant market, silicone currently dominates with a 30.3% share, and silicone will also be the fastest growing market with a CAGR of 4.9%.
In terms of downstream applications, pressure-sensitive materials are the largest downstream market, accounting for 29.1% of the total share. But the furniture market is the fastest growing, with a CAGR of 5.9%. At the same time, the level of disposable income in China, Brazil and India has been increasing year by year, driving the market demand in the region. For the plastic sealant market, the construction sector remains the largest downstream application, accounting for 27.3% of the total market share. The automotive segment followed closely with a 19.2% market share.
In 2013, whether it is adhesives or plastic sealants, the Asia-Pacific region still occupies a major position in the world, and the demand share for adhesives and plastic sealants in this region is 42.6% and 39.2% respectively. Asia Pacific will also be the fastest growing market, with compound annual growth rates of 5.9% and 5.3% for adhesives and plasticizers, respectively. The European market is the second largest market.
As far as the entire value chain of adhesives and plasticizers is concerned, it is also dominated by multinational companies. The main companies are Henkel, 3M, HB Fuller, and Dow, which account for 48% of the global market. Some other active companies include Avery Dennison, BASF, Eastman, Bostik, Ashland and Oushio.