According to a new market report published by
Lucintel, the future of adhesives in the South Korean automotive industry looks
good with opportunities in the passenger car and light commercial vehicle
segments. Adhesive in the South Korean automotive industry is forecast to grow
at a CAGR of 6.8% by value from 2016 to 2021. The major drivers for growth of
this market are growth in the production of light commercial vehicles and passenger
car as well as increasing demand for lightweight materials.
In this market, epoxy, polyurethane, and
acrylic are the major adhesives by product types used in the automotive industry.
On the basis of its comprehensive research, Lucintel forecasts that polyurethane
adhesive is expected to show above-average growth during the forecast period.
Within
the adhesives in the South Korean automotive industry, the polyurethane
adhesives segment is expected to remain as the largest market. It has better
mechanical properties and increase in automotive production are expected to
drive adhesive consumption, which would spur growth for this segment over the
forecast period.
In this market, passenger
car is expected to remain as the largest segment due to the growth of passenger
car production.
For business expansion, this report suggests
innovation and new product development to reduce curing time, improve impact resistance
and high temperature resistance. The report further suggests the development of
partnerships with customers to create win-win situations and development of
low-cost solutions for customers.
Emerging trends, which have a direct impact on
the dynamics of the industry, include increasing use of composites and
lightweight materials in automotive applications and development of fast cure
adhesives. Henkel AG & Co KGaA, The 3M Company, HB Fuller, Sika
AG, and Huntsman are the
major supplier of adhesives in the South Korean automotive industry.
Lucintel, a leading global strategic
consulting and market research firm, has analyzed growth opportunities for
adhesives in the South Korean automotive industry by product, vehicle, and
application and has come up with a comprehensive research report, “Growth
Opportunities for Adhesives in the South Korean Automotive Industry 2016-2021:
Trends, Forecast, and Opportunity Analysis” The Lucintel report serves as a springboard
for growth strategy, as it provides a comprehensive data and analysis on
trends, key drivers, and directions. The study includes a forecast for
adhesives in the South Korean automotive industry by product, vehicle, and
application as follows:
By Product (Volume M lbs and $M Shipment from 2010
to 2021):
·
Epoxy Adhesives
·
Polyurethane Adhesives
·
Acrylic Adhesives
·
Other Adhesives
By Vehicle (Volume M lbs. and $M Shipment from 2010 to
2021):
·
Passenger Car
·
Light Commercial Vehicles
By Application (Volume M lbs. and $M Shipment for 2015 and
2021):
·
Structural components
·
Non-structural components
This 94-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com. Lucintel offerings include Chemical Market Research Reports, Chemical Industry Analysis Report, Capital Investment Analysis, Strategic Growth Consulting and Due Diligence.
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision-makers in a variety of industries. For
further information, visit www.lucintel.com.
This
report answers following 10 key questions:
Q. 1 What are
some of the most promising, high-growth opportunities for adhesives in the South
Korean automotive industry by product type (epoxy, polyurethane, acrylic, and
others), vehicle type (passenger car and light commercial vehicle), and application
type (structural and non-structural)?
Q.
2 Which product segments will grow at
a faster pace and why?
Q.3 What are
the key factors affecting market dynamics? What are the drivers and challenges
of the market?
Q.4 What are the business risks and competitive threats in this market?
Q.5 What
are emerging trends in this market and reasons behind them?
Q.6 What
are some changing demands of customers in the market?
Q.7 What are
the new developments in the market? Which companies are leading these
developments?
Q.8 Who are the
major players in this market? What strategic initiatives are being implemented
by key players for business growth?
Q.9 What are
some of the competitive products and processes in this area and how big of a
threat do they pose for loss of market share via materials / product
substitution?
Q.10 What M & A activity has transpired in the
last 5 years in this market and what is its impact on the industry?
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