Adhesive Industry Has Vast Room for Growth

Adhesive refers to a material that has good adhesive properties and can form a film between two objects and firmly bond them together, which is generally composed of bonding substances, curing agents, and thinners, and modifiers.

The downstream application of adhesives is extensive. Among many applications, in addition to the main application fields of the construction packaging industry, it is also widely used in automobile manufacturing and maintenance, wind energy, and solar power generation.

Adhesive Is an Indispensable Raw Material in Automobile Production

The demand for traditional vehicles is stable, while new energy vehicles are driving demand growth. In automobile manufacturing, the use of good bonding technology can improve the comfort of driving, reduce noise, and shock absorption, and reduce energy consumption. Therefore, the adhesives are used in vehicle design and manufacturing has played an irreplaceable role.

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According to functions, the application of adhesives in automobiles is mainly divided into car body adhesives, power system adhesives, and maintenance adhesives. In 2018, due to various factors, domestic automobile production and sales were 27.809 million units and 28.081 million units, down 4.2% and 2.8% year-on-year, respectively, which is expected that in the future, as the destocking cycle ends, auto sales in China will gradually recover. In addition, the development potential of new energy vehicles is huge, as MIIT stated that by 2020, the domestic annual output of new energy vehicles will reach 2 million units, and by 2025, its sale proportion of new energy vehicles will account for more than 20%. It can be seen that the growth of new energy vehicles will drive the growth of the demand for adhesives. The global automotive adhesive market is expected to grow from $3.74 billion USD in 2015 to 5.56 billion USD in 2020, with a CAGR of 8.2%. On the whole, the upgrading of the automobile industry will drive the growth of the consumption of adhesives for automobiles.

Wind Power and Photovoltaics Continue to Grow Up, Driving Demand for Adhesives

The State referred that in 2020, the national wind curtailment rate should be controlled within 5%, and some provinces have specified wind power consumption targets. The decline of the wind curtailment rate will increase the enthusiasm for wind power investment and promote the healthy and stable development of the industry. the National Development and Reform Commission issued that if the project which is approved before the end of 2018 is still not connected to the grid before the end of 2020, the state will not subsidize it. The revival of the wind power market will drive the demand for adhesives, which is estimated that by the end of 2020, the annual wind power adhesives required in my country will be 35,000 tons.

The Adhesive Market Has Grown Steadily

The size of the adhesive market is increasing year by year, and the growth rate in the Asia-Pacific region leads the world. In 2016, the global adhesive market scale was 40.6 billion USD, which is predicted to reach 5.3% from 2017 to 2022, while the Asia-Pacific region will lead the global adhesive market with a growth rate of 5.7%.

The adhesive industry started late from 1958 in China, but developed rapidly, which in the world's adhesive field has almost no share at the beginning. After 60 years of development, the adhesive industry in China has occupied a place in the world's adhesive field. In terms of market size, China's adhesive market reached 16.7 billion USD in 2018, accounting for about one-third of the global market.

Huitian New Materials:A Leading Domestic Adhesive Company with A Wide Layout

It is a leading adhesive company with a wide range of products, which is a high-tech enterprise specializing in R&D, production and sales of adhesives and new materials, one of the largest adhesive companies in China. Its participation in the establishment of an industrial fund will focus on investment in emerging industries such as high-end adhesive manufacturing and new materials related to the company's main business. Besides, the company has ranked first in the field of solar cell backplanes.

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