Adhesives are classified according to the chemical composition of the main agent, and can be divided into silicone adhesives, organic silicon adhesives, polyurethane adhesives, epoxy resin adhesives, Acrylic adhesives, synthetic rubber adhesives, etc. The adhesives industry is a steadily growing technology-intensive industry, but the market is highly fragmented. In addition to traditional construction, transportation, packaging, and consumer applications, the latest application fields such as photovoltaics, new energy, electronics, medical, and military industries that have emerged in recent years can also provide additional development drivers for the adhesive industry. Polyurethane adhesive is a high-grade adhesive with excellent flexibility, impact resistance, chemical resistance, abrasion resistance and low temperature resistance. It is widely used in many industries such as carpentry (ecological board bonding), building paving (OCF glue, EPS steel plate), home furnishing (anti-theft door), automobile (window and car body sealing), packaging, and electrical sealing.
According to the known public data, the global adhesive market size will be approximately US$60 billion in 2021, and it is expected to reach US$80 billion in 2030. From the perspective of the distribution of consumption regions, the Asian region is the largest adhesive demand region in the world, accounting for about 52% of the total demand; the total adhesive demand in North America accounts for about 21%; and the European region accounts for about 21%. Latin America and other regions accounted for 7%. In 2021, the total demand for vinyl, acrylic, polyurethane, elastomer, epoxy resin and other types of adhesives in 23 European countries including Russia and the Caucasus will be about 3.2 million tons,Vinyl-based adhesives accounted for the highest proportion, reaching 34%, and the demand for polyurethane adhesives accounted for only 8%. Vinyl-based adhesives are the most widely used in Europe, among which polyvinyl acetate (PVAC) adhesives are representative. In addition, polyvinyl acetate is used in the production of polyvinyl alcohol (PVA) and is also used as an adhesive for porous materials such as paper, cardboard, wood, cork, or leather. The main end applications of vinyl adhesives are paper, packaging, wood products and construction industry. From the perspective of market share, Europe is currently leading Leading adhesive manufacturers include: Arkema, Sika, Henkel, Huntsman, Fuller, etc.
Figure 1 The proportion of European adhesive demand types in 2021
2020In 2018, the European adhesive market reached 17.1 billion euros. Germany, Russia and France are the main leaders in the European adhesive market. The market share of these three countries accounts for nearly 40% %. The main European adhesive terminal application industries are: construction , paper, cardboard and packaging, transportation, woodworking and joinery, footwear and leather, healthcare, electrical and electronics, and other industries, of which the paper packaging industry accounts for about 30% of total European demand. The segment is not expected to recover until 2024 as private consumption stagnates. The construction industry is the second largest application market for adhesives. According to preliminary estimates from Eurostat, the European statistical office, the seasonally adjusted production of the construction industry in the euro area in February 2023 increased by 2.3% compared with January 2023. At the same time, the Eurostat report pointed out that the order volume of the construction industry has returned to the pre-epidemic level, and it is expected that the demand for adhesives will gradually improve.
Figure 2 TOP5 countries in the European adhesive market share in 2020
Adhesives sometimes contain large amounts of solvents that evaporate from the bonding surface or container. Organic solvents, especially aromatic hydrocarbons such as xylene or toluene, are not only a fire hazard but also a health hazard. For this reason, people are increasingly looking for more environmentally friendly alternatives. In 2021, European water-based adhesives will account for about 52% of the total consumption. In recent years, the European Union has issued a series of green environmental protection regulations, and environmentally friendly adhesives will become a major application trend in the future.
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