China will promote global adhesive and sealant consumption growth in 3 years

Eric Linak, Director of Specialty Chemicals at HS Markit, said recently that from 2019 to 2024, global consumption of adhesives and sealants will grow at an average annual rate of nearly 4%. During this period, China will promote global adhesive and sealant consumption growth at an average annual growth rate of 5.5%.

Linak said that due to the decline in per capita consumption of adhesives and sealants in developed markets, overall market demand has slowed. China is the world's largest consumer of adhesives and sealants, accounting for 31% of the total global consumption of 19 million tons in 2019, an increase of 14% from 2005.

In 2019, the world's top ten companies in the adhesives and sealants industry accounted for 40% of global sales. Linac stated that German Henkel currently accounts for about 18% of the entire market and is in a leading position.

Three major application industries
The paper and packaging industry is the world's largest end user of adhesives, accounting for 34% of total consumption.

The construction industry ranks second with a 20% share, and the construction industry dominates the consumption of sealants, accounting for 62% of global consumption. Binder consumption in the construction industry will also increase. With the promotion of stricter building regulations, the sealing materials market will benefit. The increasing construction of consumer skylights and high-rise buildings (especially in China) will also promote the consumption of sealants.

As more and more materials are used in vehicle and aircraft manufacturing, the application of high-performance reactive adhesives in the automotive and aerospace industries is expected to increase.