South Korea adhesives industry has showcased an overwhelming performance by inclining at a CAGR growth of ~ % during the period 2009-2014. This noteworthy performance in the industry was largely contributed by the major segments such as water based, hot melt, pressure sensitive and other adhesives products market, which have marked substantial growth in revenues during this period. This growth was mainly emanated through significant surge in demand from domestic as well as overseas markets. This surge in revenues was also contributed through increase in production capacity by major players operating in the industry.
The adhesives market revenues in the future are expected to augment at the CAGR of ~% during 2015-2020, reaching revenue worth USD ~ billion in 2020. Water based adhesives segment is likely to sustain its dominance in South Korea’s adhesives market space during the period 2015-2020. Pressure based adhesives segment is also expected to further strengthen its position in the adhesives market through wide array of applications in automotive and other industries.
Demand for adhesives products has been estimated to be the highest in the consumer appliances, automotive/transportation and construction industry. Automotive & auto components industry is projected to increase at the highest rate during 2015-2020. The key drivers of the industry are increased applications in various niche end user industries and strict regulations regarding fuel economy
The industry is expected to witness rapid growth in the near future, mainly on account of rising infrastructural and industrial activities along with growth in packaging, automotive and construction sectors in the country. With growing awareness about environmental conservation and bio-based, adhesives have started gaining popularity. However, there is still a lot of scope for the development of advanced technologies and premium quality products. International players emphasize a lot on R&D and innovation so as to compete in the market.
Reduced dependence on imports, entry of new local as well as global players, continuous efforts of the government to stir demand will provide positive impetus to the overall market for adhesives in South Korea, according to the research report, South Korea Adhesives Market Outlook to 2020 –Rising Demand from Industrial Sector and Overseas Market to Foster Future Growth.
The report provides detailed overview on the adhesives market and helps readers to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report is useful for adhesives manufacturers, wholesalers of adhesives, retail chains and new players and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.
Key Topics Covered in the Report:
- Market Size by Revenue
- Market Segmentation by
o Application (Plywood, Construction, Packaging, Woodworking, Footwear, Paper, Book Binding, Household uses, Textiles, Transport, Electronics)
o Technology (formaldehyde-type, water based reactive, reactive, hot melt, solvent based, pressure sensitive)
o Natural and Synthetic Adhesives
o Structural, Semi-structural and non-structural adhesives
- Trends and Development
- SWOT and PESTLE Analysis
- Export and Import
- Competition and Market Share
- Growth Drivers
- Future Outlook
- Macro Economic Parameters
Key Products Mentioned in the Report
Formaldehyde-type, water based reactive, reactive, hot melt, solvent based, Natural, Synthetic Adhesives, structural, Semi-structural and non-structural adhesives, Pressure Sensitive, Locitite, Bonderite, 300RX Speed, Teroson MS 939
Companies Covered in the Report
3M, Henkel Adhesive Technologies, Okong Corporations, Burim Chemicals Co Ltd, Bostik, Daehynust, Jaesung Co. Limited,
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Ankur Gupta, Head Marketing & Communications