South Korea Adhesives Market Size
| Icons | Lable | Value |
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Study Period | 2017 - 2028 |
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Market Size (2024) | USD 1.34 Billion |
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Market Size (2028) | USD 1.66 Billion |
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Largest Share by End User Industry | Packaging |
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CAGR (2024 - 2028) | 5.62 % |
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Fastest Growing by End User Industry | Footwear and Leather |
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Market Concentration | Low |
Major Players |
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*Disclaimer: Major Players sorted in alphabetical order. |
South Korea Adhesives Market Analysis
The South Korea Adhesives Market size is estimated at 1.34 billion USD in 2024, and is expected to reach 1.66 billion USD by 2028, growing at a CAGR of 5.62% during the forecast period (2024-2028).
1.34 Billion
Market Size in 2024 (USD)
1.66 Billion
Market Size in 2028 (USD)
4.39 %
CAGR (2017-2023)
5.62 %
CAGR (2024-2028)
Largest Market by End-user Industry
27.17 %
value share, Packaging, 2023
The packaging industry holds the largest market share owing to its widespread applications, including labels, tapes, carton sealing, joining, and labeling.
Fastest Growing Market by End-user Industry
8.65 %
Projected CAGR, Footwear and Leather, 2024-2028
Due to the increasing healthcare expenditure and rising investment in tissue engineering and medical device production, the healthcare industry is projected to be the fastest-growing end-user industry in the country.
Largest Market by Technology
28.48 %
value share, Hot Melt, 2023
In South Korea, hot-melt adhesives gain the major market share owing to their easy applicability, non-toxic, and fast curing process across industries.
Largest Market by Resin
24.65 %
value share, Polyurethane, 2023
Polyurethane adhesives hold the largest share owing to their wide applications in building construction, woodworking, and automotive industries, specifically for exterior applications.
Leading Market Player
7.66 %
market share, Henkel AG & Co. KGaA, 2021
Henkel is the leading adhesives manufacturer in South Korea, which can be attributed to the popularity of its products in widespread industries, including building and construction, automotive, aerospace, and woodworking.
The fast-paced growth in the production of eco-friendly cars in South Korea to lead the market's growth
- Adhesives are classified in South Korea according to their application. Since packaging and automotive are the fastest expanding industries in South Korea, they serve the most customers in the nation, accounting for approximately 42% of total adhesive consumers.
- The nation has created several initiatives to encourage the packaging sector. South Korea has a well-developed policy framework that promotes an integrated approach to waste and material management, based on the pay-as-you-throw, 3Rs, and EPR principles, with the goal of advancing toward resource circulation and a circular economy. However, the government must speed up its efforts to keep up with the country's continuously expanding municipal and marine plastic garbage. South Korea is one of the world's largest manufacturers and users of single-use plastic packaging. The government has also pledged to cut plastic waste by 30% in 2022 and 50% by 2030, as well as to achieve a recycling rate of 70% by 2030, up from 34% presently.
- South Korea's automobile industry is presently the world's fifth-largest producer of passenger automobiles. The car industry accounts for 13% of manufacturing production, creates 12% of value added, and is a vital industrial sector that employs around 12% of South Koreans. The sales of eco-friendly cars such as electric vehicles (EVs), hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and fuel-cell electric vehicles (FCEVs) may increase the fastest in South Korean markets in the near future. The government's decision to spend USD 125.9 million on R&D has increased the confidence of South Korean manufacturers and purchasers in alternative powertrains. All such factors lead to the demand for adhesives.
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South Korea Adhesives Market Trends
Paper packaging having 33% of share in overall packaging production will propel the market
- South Korea is one of the major packaging industries in the Asia-Pacific region. The packaging industry contributes around 2.2% to the country's GDP. Trade exchange, employment, labor charges, and government policy support are the factors that are affecting the South Korean packaging industry.
- In 2020, an economic slowdown in the country was observed due to the impact of the COVID-19 pandemic. The production volume reduced by 4.75% in the same year compared to 2019 due to a supply chain disruption, labor shortages, and a lockdown in the country for nearly three months. However, economic recovery in the country was observed as international borders were opened in 2021, which resulted in a regular supply of raw materials for production that increased by 5,600 tons in 2021.
- In South Korea, paper is largely used for packaging, accounting for 33% of the total packaging production. Corrugated box packaging is also widely used in the country. The production of these boxes suddenly increased by 21% in 2020, producing 3373 million units in the same year. Production was raised due to online deliveries by the e-commerce industry in the country. Packaging is mainly used for food protection, healthcare, and beauty products in the country.
- Packaric, DAEDO, and Asia Korea Printing are the top packaging companies in South Korea. The trend of flexible packaging in the country is expected to boost the growth of the packaging industry. The flexible packaging market is expected to record a CAGR of 3.4% during 2022-2026.
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Rapid growth of electric vehicles to boost the automotive sector
- The South Korean automotive industry is the seventh-largest in the world, with a production share of over 4.5% in the first half of 2021. The automotive industry in the country is heavily dependent on exports. As exports decreased, automobile production decreased for the fourth straight year. In 2019, automotive production in the country declined by 1.9% to 3.95 million vehicles, compared to the previous year鈥檚 4.03 million vehicles. The decline in production was due to a decrease in domestic and international sales. The automotive industry is expected to decline further due to COVID-19, impacting sales and production until early 2021.
- In 2019, the country recorded about 39,50,614 units of vehicles produced, which drastically reduced to 35,06,774 units in 2020, accounting for a decline of about 11% owing to the COVID-19 pandemic. The variation in automotive production between 2019 and 2021 recorded around 12%, whereas between 2020 and 2021, the variation recorded around -1%.
- Currently, there are several developments related to increasing electrification adoption in the country, due to which the country has largely focused on the production of EVs. The accumulated number of electric vehicles in South Korea surpassed the 300,000 mark in the second quarter of 2022, taking 1.2% of the total number of registered vehicles in the country. Hyundai Motor Group, one of the largest car manufacturers in the country, has taken steps to open new production facilities to increase EV production in the country. The growing adoption of sustainability in the country may boost the growth of the automotive sector in the coming years.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Growing MRO services for commercial and defense aircraft will drive the industry size
- Increasing popularity of trendy and performance shoes among the young population will foster the industry growth
- Rising investment in residential construction along with government initiatives will augment the sector
- Restoration of old furniture along with growing demand for smart solutions for office & storage units to thrive the industry growth
South Korea Adhesives Industry Overview
The South Korea Adhesives Market is fragmented, with the top five companies occupying 21.16%. The major players in this market are 3M, BURIM CHEMICAL CO., LTD, Henkel AG & Co. KGaA, OKONG Corp. and Unitech Co., Ltd (sorted alphabetically).
South Korea Adhesives Market Leaders
3M
BURIM CHEMICAL CO., LTD
Henkel AG & Co. KGaA
OKONG Corp.
Unitech Co., Ltd
Other important companies include AVERY DENNISON CORPORATION, H.B. Fuller Company, Industrial Adhesives Company MCS, SAMYOUNG INK&PAINT INDUSTRIAL,. CO. LTD, YOUNGWOO CF CO.,LTD..
*Disclaimer: Major Players sorted in alphabetical order.
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South Korea Adhesives Market News
- October 2021: 3M introduced a new generation of acrylic adhesives, including 3M Scotch-Weld Low Odor Acrylic Adhesive 8700NS Series, 3M Scotch-Weld Flexible Acrylic Adhesive 8600NS Series, and 3M Scotch-Weld Nylon Bonder Structural Adhesive DP8910NS.
- September 2021: Henkel launched its newly developed solvent-free and zero-VOC adhesive range for rubber lining.
- July 2021: H.B. Fuller announced a strategic agreement with Covestro to offer sustainable adhesives in the market.
Free with this Report
We provide a complimentary and exhaustive set of data points on global and regional metrics that present the fundamental structure of the industry. Presented in the form of 24+ free charts, the section covers rare data on various end-user production trends including automobile production, newly built construction floor area, packaging production, aircraft deliveries, footwear production, and regional data on adhesives and sealants demand, etc.
South Korea Adhesives Market Report - Table of Contents
EXECUTIVE SUMMARY & KEY FINDINGS
REPORT OFFERS
1. INTRODUCTION
1.1. Study Assumptions & Market Definition
1.2. Scope of the Study鈥�
1.3. Research Methodology
2. KEY INDUSTRY TRENDS
2.1. End User Trends
2.1.1. Aerospace
2.1.2. Automotive
2.1.3. Building and Construction
2.1.4. Footwear and Leather
2.1.5. Packaging
2.1.6. Woodworking and Joinery
2.2. Regulatory Framework
2.2.1. South Korea
2.3. Value Chain & Distribution Channel Analysis
3. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2028 and analysis of growth prospects)
3.1. End User Industry
3.1.1. Aerospace
3.1.2. Automotive
3.1.3. Building and Construction
3.1.4. Footwear and Leather
3.1.5. Healthcare
3.1.6. Packaging
3.1.7. Woodworking and Joinery
3.1.8. Other End-user Industries
3.2. Technology
3.2.1. Hot Melt
3.2.2. Reactive
3.2.3. Solvent-borne
3.2.4. UV Cured Adhesives
3.2.5. Water-borne
3.3. Resin
3.3.1. Acrylic
3.3.2. Cyanoacrylate
3.3.3. Epoxy
3.3.4. Polyurethane
3.3.5. Silicone
3.3.6. VAE/EVA
3.3.7. Other Resins
4. COMPETITIVE LANDSCAPE
4.1. Key Strategic Moves
4.2. Market Share Analysis
4.3. Company Landscape
4.4. Company Profiles (includes Global Level Overview, Market Level Overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and Analysis of Recent Developments).
4.4.1. 3M
4.4.2. AVERY DENNISON CORPORATION
4.4.3. BURIM CHEMICAL CO., LTD
4.4.4. H.B. Fuller Company
4.4.5. Henkel AG & Co. KGaA
4.4.6. Industrial Adhesives Company MCS
4.4.7. OKONG Corp.
4.4.8. SAMYOUNG INK&PAINT INDUSTRIAL,. CO. LTD
4.4.9. Unitech Co., Ltd
4.4.10. YOUNGWOO CF CO.,LTD.
5. KEY STRATEGIC QUESTIONS FOR ADHESIVES AND SEALANTS CEOS
6. APPENDIX
6.1. Global Adhesives and Sealants Industry Overview
6.1.1. Overview
6.1.2. Porter鈥檚 Five Forces Framework (Industry Attractiveness Analysis)
6.1.3. Global Value Chain Analysis
6.1.4. Drivers, Restraints, and Opportunities
6.2. Sources & References
6.3. List of Tables & Figures
6.4. Primary Insights
6.5. Data Pack
6.6. Glossary of Terms
List of Tables & Figures
- Figure 1:
- VOLUME OF AIRCRAFTS DELIVERED, UNITS, SOUTH KOREA, 2017-2028
- Figure 2:
- PRODUCTION VOLUME OF AUTOMOBILES, UNITS, SOUTH KOREA, 2017-2028
- Figure 3:
- FLOOR AREA OF NEW CONSTRUCTION, SQUARE FEET, SOUTH KOREA, 2017-2028
- Figure 4:
- PRODUCTION VOLUME OF FOOTWEAR, PAIRS, SOUTH KOREA, 2017-2028
- Figure 5:
- PRODUCTION VOLUME OF PAPER & PAPER BOARD AND PLASTIC PACKAGING, TONS, SOUTH KOREA, 2017-2028
- Figure 6:
- PRODUCTION VOLUME OF FURNITURE, UNITS, SOUTH KOREA, 2017-2028
- Figure 7:
- VOLUME OF CONSUMED, KILOGRAM, SOUTH KOREA, 2017 - 2028
- Figure 8:
- VALUE OF CONSUMED, USD, SOUTH KOREA, 2017 - 2028
- Figure 9:
- VOLUME OF ADHESIVES CONSUMED BY END USER INDUSTRY, KILOGRAM, SOUTH KOREA, 2017 - 2028
- Figure 10:
- VALUE OF ADHESIVES CONSUMED BY END USER INDUSTRY, USD, SOUTH KOREA, 2017 - 2028
- Figure 11:
- VOLUME SHARE OF ADHESIVES CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2022 VS 2028
- Figure 12:
- VALUE SHARE OF ADHESIVES CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2022 VS 2028
- Figure 13:
- VOLUME OF ADHESIVES CONSUMED IN AEROSPACE INDUSTRY, KILOGRAM, SOUTH KOREA, 2017 - 2028
- Figure 14:
- VALUE OF ADHESIVES CONSUMED IN AEROSPACE INDUSTRY, USD, SOUTH KOREA, 2017 - 2028
- Figure 15:
- VALUE SHARE OF ADHESIVES CONSUMED IN AEROSPACE INDUSTRY BY TECHNOLOGY, %, SOUTH KOREA, 2021 VS 2028
- Figure 16:
- VOLUME OF ADHESIVES CONSUMED IN AUTOMOTIVE INDUSTRY, KILOGRAM, SOUTH KOREA, 2017 - 2028
- Figure 17:
- VALUE OF ADHESIVES CONSUMED IN AUTOMOTIVE INDUSTRY, USD, SOUTH KOREA, 2017 - 2028
- Figure 18:
- VALUE SHARE OF ADHESIVES CONSUMED IN AUTOMOTIVE INDUSTRY BY TECHNOLOGY, %, SOUTH KOREA, 2021 VS 2028
- Figure 19:
- VOLUME OF ADHESIVES CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY, KILOGRAM, SOUTH KOREA, 2017 - 2028
- Figure 20:
- VALUE OF ADHESIVES CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY, USD, SOUTH KOREA, 2017 - 2028
- Figure 21:
- VALUE SHARE OF ADHESIVES CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY BY TECHNOLOGY, %, SOUTH KOREA, 2021 VS 2028
- Figure 22:
- VOLUME OF ADHESIVES CONSUMED IN FOOTWEAR AND LEATHER INDUSTRY, KILOGRAM, SOUTH KOREA, 2017 - 2028
- Figure 23:
- VALUE OF ADHESIVES CONSUMED IN FOOTWEAR AND LEATHER INDUSTRY, USD, SOUTH KOREA, 2017 - 2028
- Figure 24:
- VALUE SHARE OF ADHESIVES CONSUMED IN FOOTWEAR AND LEATHER INDUSTRY BY TECHNOLOGY, %, SOUTH KOREA, 2021 VS 2028
- Figure 25:
- VOLUME OF ADHESIVES CONSUMED IN HEALTHCARE INDUSTRY, KILOGRAM, SOUTH KOREA, 2017 - 2028
- Figure 26:
- VALUE OF ADHESIVES CONSUMED IN HEALTHCARE INDUSTRY, USD, SOUTH KOREA, 2017 - 2028
- Figure 27:
- VALUE SHARE OF ADHESIVES CONSUMED IN HEALTHCARE INDUSTRY BY TECHNOLOGY, %, SOUTH KOREA, 2021 VS 2028
- Figure 28:
- VOLUME OF ADHESIVES CONSUMED IN PACKAGING INDUSTRY, KILOGRAM, SOUTH KOREA, 2017 - 2028
- Figure 29:
- VALUE OF ADHESIVES CONSUMED IN PACKAGING INDUSTRY, USD, SOUTH KOREA, 2017 - 2028
- Figure 30:
- VALUE SHARE OF ADHESIVES CONSUMED IN PACKAGING INDUSTRY BY TECHNOLOGY, %, SOUTH KOREA, 2021 VS 2028
- Figure 31:
- VOLUME OF ADHESIVES CONSUMED IN WOODWORKING AND JOINERY INDUSTRY, KILOGRAM, SOUTH KOREA, 2017 - 2028
- Figure 32:
- VALUE OF ADHESIVES CONSUMED IN WOODWORKING AND JOINERY INDUSTRY, USD, SOUTH KOREA, 2017 - 2028
- Figure 33:
- VALUE SHARE OF ADHESIVES CONSUMED IN WOODWORKING AND JOINERY INDUSTRY BY TECHNOLOGY, %, SOUTH KOREA, 2021 VS 2028
- Figure 34:
- VOLUME OF ADHESIVES CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY, KILOGRAM, SOUTH KOREA, 2017 - 2028
- Figure 35:
- VALUE OF ADHESIVES CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY, USD, SOUTH KOREA, 2017 - 2028
- Figure 36:
- VALUE SHARE OF ADHESIVES CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY BY TECHNOLOGY, %, SOUTH KOREA, 2021 VS 2028
- Figure 37:
- VOLUME OF ADHESIVES CONSUMED BY TECHNOLOGY, KILOGRAM, SOUTH KOREA, 2017 - 2028
- Figure 38:
- VALUE OF ADHESIVES CONSUMED BY TECHNOLOGY, USD, SOUTH KOREA, 2017 - 2028
- Figure 39:
- VOLUME SHARE OF ADHESIVES CONSUMED BY TECHNOLOGY, %, SOUTH KOREA, 2022 VS 2028
- Figure 40:
- VALUE SHARE OF ADHESIVES CONSUMED BY TECHNOLOGY, %, SOUTH KOREA, 2022 VS 2028
- Figure 41:
- VOLUME OF HOT MELT ADHESIVES CONSUMED, KILOGRAM, SOUTH KOREA, 2017 - 2028
- Figure 42:
- VALUE OF HOT MELT ADHESIVES CONSUMED, USD, SOUTH KOREA, 2017 - 2028
- Figure 43:
- VALUE SHARE OF HOT MELT ADHESIVES CONSUMED BY RESIN, %, SOUTH KOREA, 2021 VS 2028
- Figure 44:
- VOLUME OF REACTIVE ADHESIVES CONSUMED, KILOGRAM, SOUTH KOREA, 2017 - 2028
- Figure 45:
- VALUE OF REACTIVE ADHESIVES CONSUMED, USD, SOUTH KOREA, 2017 - 2028
- Figure 46:
- VALUE SHARE OF REACTIVE ADHESIVES CONSUMED BY RESIN, %, SOUTH KOREA, 2021 VS 2028
- Figure 47:
- VOLUME OF SOLVENT-BORNE ADHESIVES CONSUMED, KILOGRAM, SOUTH KOREA, 2017 - 2028
- Figure 48:
- VALUE OF SOLVENT-BORNE ADHESIVES CONSUMED, USD, SOUTH KOREA, 2017 - 2028
- Figure 49:
- VALUE SHARE OF SOLVENT-BORNE ADHESIVES CONSUMED BY RESIN, %, SOUTH KOREA, 2021 VS 2028
- Figure 50:
- VOLUME OF UV CURED ADHESIVES ADHESIVES CONSUMED, KILOGRAM, SOUTH KOREA, 2017 - 2028
- Figure 51:
- VALUE OF UV CURED ADHESIVES ADHESIVES CONSUMED, USD, SOUTH KOREA, 2017 - 2028
- Figure 52:
- VALUE SHARE OF UV CURED ADHESIVES ADHESIVES CONSUMED BY RESIN, %, SOUTH KOREA, 2021 VS 2028
- Figure 53:
- VOLUME OF WATER-BORNE ADHESIVES CONSUMED, KILOGRAM, SOUTH KOREA, 2017 - 2028
- Figure 54:
- VALUE OF WATER-BORNE ADHESIVES CONSUMED, USD, SOUTH KOREA, 2017 - 2028
- Figure 55:
- VALUE SHARE OF WATER-BORNE ADHESIVES CONSUMED BY RESIN, %, SOUTH KOREA, 2021 VS 2028
- Figure 56:
- VOLUME OF ADHESIVES CONSUMED BY RESIN, KILOGRAM, SOUTH KOREA, 2017 - 2028
- Figure 57:
- VALUE OF ADHESIVES CONSUMED BY RESIN, USD, SOUTH KOREA, 2017 - 2028
- Figure 58:
- VOLUME SHARE OF ADHESIVES CONSUMED BY RESIN, %, SOUTH KOREA, 2022 VS 2028
- Figure 59:
- VALUE SHARE OF ADHESIVES CONSUMED BY RESIN, %, SOUTH KOREA, 2022 VS 2028
- Figure 60:
- VOLUME OF ACRYLIC ADHESIVES CONSUMED, KILOGRAM, SOUTH KOREA, 2017 - 2028
- Figure 61:
- VALUE OF ACRYLIC ADHESIVES CONSUMED, USD, SOUTH KOREA, 2017 - 2028
- Figure 62:
- VALUE SHARE OF ACRYLIC ADHESIVES CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2021 VS 2028
- Figure 63:
- VOLUME OF CYANOACRYLATE ADHESIVES CONSUMED, KILOGRAM, SOUTH KOREA, 2017 - 2028
- Figure 64:
- VALUE OF CYANOACRYLATE ADHESIVES CONSUMED, USD, SOUTH KOREA, 2017 - 2028
- Figure 65:
- VALUE SHARE OF CYANOACRYLATE ADHESIVES CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2021 VS 2028
- Figure 66:
- VOLUME OF EPOXY ADHESIVES CONSUMED, KILOGRAM, SOUTH KOREA, 2017 - 2028
- Figure 67:
- VALUE OF EPOXY ADHESIVES CONSUMED, USD, SOUTH KOREA, 2017 - 2028
- Figure 68:
- VALUE SHARE OF EPOXY ADHESIVES CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2021 VS 2028
- Figure 69:
- VOLUME OF POLYURETHANE ADHESIVES CONSUMED, KILOGRAM, SOUTH KOREA, 2017 - 2028
- Figure 70:
- VALUE OF POLYURETHANE ADHESIVES CONSUMED, USD, SOUTH KOREA, 2017 - 2028
- Figure 71:
- VALUE SHARE OF POLYURETHANE ADHESIVES CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2021 VS 2028
- Figure 72:
- VOLUME OF SILICONE ADHESIVES CONSUMED, KILOGRAM, SOUTH KOREA, 2017 - 2028
- Figure 73:
- VALUE OF SILICONE ADHESIVES CONSUMED, USD, SOUTH KOREA, 2017 - 2028
- Figure 74:
- VALUE SHARE OF SILICONE ADHESIVES CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2021 VS 2028
- Figure 75:
- VOLUME OF VAE/EVA ADHESIVES CONSUMED, KILOGRAM, SOUTH KOREA, 2017 - 2028
- Figure 76:
- VALUE OF VAE/EVA ADHESIVES CONSUMED, USD, SOUTH KOREA, 2017 - 2028
- Figure 77:
- VALUE SHARE OF VAE/EVA ADHESIVES CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2021 VS 2028
- Figure 78:
- VOLUME OF OTHER RESINS ADHESIVES CONSUMED, KILOGRAM, SOUTH KOREA, 2017 - 2028
- Figure 79:
- VALUE OF OTHER RESINS ADHESIVES CONSUMED, USD, SOUTH KOREA, 2017 - 2028
- Figure 80:
- VALUE SHARE OF OTHER RESINS ADHESIVES CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2021 VS 2028
- Figure 81:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, SOUTH KOREA, 2019 - 2021
- Figure 82:
- MOST ADOPTED STRATEGIES, COUNT, SOUTH KOREA, 2019 - 2021
- Figure 83:
- REVENUE SHARE OF ADHESIVES BY MAJOR PLAYERS, %, SOUTH KOREA, 2021
South Korea Adhesives Industry Segmentation
Aerospace, Automotive, Building and Construction, Footwear and Leather, Healthcare, Packaging, Woodworking and Joinery are covered as segments by End User Industry. Hot Melt, Reactive, Solvent-borne, UV Cured Adhesives, Water-borne are covered as segments by Technology. Acrylic, Cyanoacrylate, Epoxy, Polyurethane, Silicone, VAE/EVA are covered as segments by Resin.
- Adhesives are classified in South Korea according to their application. Since packaging and automotive are the fastest expanding industries in South Korea, they serve the most customers in the nation, accounting for approximately 42% of total adhesive consumers.
- The nation has created several initiatives to encourage the packaging sector. South Korea has a well-developed policy framework that promotes an integrated approach to waste and material management, based on the pay-as-you-throw, 3Rs, and EPR principles, with the goal of advancing toward resource circulation and a circular economy. However, the government must speed up its efforts to keep up with the country's continuously expanding municipal and marine plastic garbage. South Korea is one of the world's largest manufacturers and users of single-use plastic packaging. The government has also pledged to cut plastic waste by 30% in 2022 and 50% by 2030, as well as to achieve a recycling rate of 70% by 2030, up from 34% presently.
- South Korea's automobile industry is presently the world's fifth-largest producer of passenger automobiles. The car industry accounts for 13% of manufacturing production, creates 12% of value added, and is a vital industrial sector that employs around 12% of South Koreans. The sales of eco-friendly cars such as electric vehicles (EVs), hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and fuel-cell electric vehicles (FCEVs) may increase the fastest in South Korean markets in the near future. The government's decision to spend USD 125.9 million on R&D has increased the confidence of South Korean manufacturers and purchasers in alternative powertrains. All such factors lead to the demand for adhesives.
| End User Industry | |
| Aerospace | |
| Automotive | |
| Building and Construction | |
| Footwear and Leather | |
| Healthcare | |
| Packaging | |
| Woodworking and Joinery | |
| Other End-user Industries |
| Technology | |
| Hot Melt | |
| Reactive | |
| Solvent-borne | |
| UV Cured Adhesives | |
| Water-borne |
| Resin | |
| Acrylic | |
| Cyanoacrylate | |
| Epoxy | |
| Polyurethane | |
| Silicone | |
| VAE/EVA | |
| Other Resins |
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Market Definition
- End-user Industry - Building & Construction, Packaging, Automotive, Aerospace, Woodworking & Joinery, Footwear & Leather, Healthcare, and Others are the end-user industries considered under the adhesives market.
- Product - All adhesive products are considered in the market studied
- Resin - Under the scope of the study, resins like Polyurethane, Epoxy, Acrylic, Cyanoacrylate, VAE/EVA, and Silicone are considered
- Technology - For the purpose of this study, Water-borne, Solvent-borne, Reactive, Hot Melt, and UV Cured adhesive technologies are taken into consideration.
| Keyword | Definition |
|---|---|
| Hot-melt Adhesive | Hot melt adhesives are generally 100% solid formulations, based on thermoplastic polymers. They are solid at room temperature and are activated upon heating above their softening point, at which stage they are liquid, and hence, can be processed. |
| Reactive Adhesive | A reactive adhesive is made up of monomers that react in the adhesive curing process and do not evaporate from the film during use. Instead, these volatile components become chemically incorporated into the adhesive. |
| Solvent-borne Adhesive | Solvent-borne adhesives are mixtures of solvents and thermoplastic, or slightly cross-linked polymers, such as polychloroprene, polyurethane, acrylic, silicone, and natural and synthetic rubbers (elastomers). |
| Water-borne Adhesive | Water-borne adhesives use water as a carrier or diluting medium to disperse a resin. They are set by allowing the water to evaporate or be absorbed by the substrate. These adhesives are compounded with water as a diluent, rather than a volatile organic solvent. |
| UV Cured Adhesive | UV curing adhesives induce curing and create a permanent bond without heating by using ultraviolet (UV) light or other radiation sources. An aggregation of monomers and oligomers is cured or polymerized by ultraviolet (UV) or visible light in a UV adhesive. Because UV is a radiating energy source, UV adhesives are often referred to as radiation curing or rad-cure adhesives. |
| Heat-resistant Adhesive | Heat-resistant Adhesives refer to those that do not break down under high temperatures. One aspect of a complicated system of circumstances is the adhesive's capacity to withstand disintegration brought on by high temperatures. As the temperature rises, adhesives may liquefy. They can withstand stresses resulting from differing coefficients of expansion and contraction, which might be an additional advantage. |
| Reshoring | Reshoring is the practice of moving commodity production and manufacturing back to the nation where the business was founded. Onshoring, inshoring, and back shoring are further terms used. Offshoring, the practice of producing items abroad to lower labor and manufacturing costs, is the opposite of this. |
| Oleochemicals | Oleochemicals are compounds produced from biological oils or fats. They resemble petrochemicals, which are substances made from petroleum. The oleochemical business is built on the hydrolysis of oils or fats. |
| Nonporous Materials | Nonporous materials are substances that do not permit the passage of liquid or air. Nonporous materials are those that are not porous, such as glass, plastic, metal, and varnished wood.聽Since no air can get through, less airflow is required to raise these materials, negating the requirement for high airflow. |
| EU-Vietnam Free Trade Agreement | A trade agreement and an investment protection agreement were concluded between the European Union and Vietnam on June 30, 2019. |
| VOC content | Compounds with limited solubility in water and high vapor pressure are known as Volatile Organic Compounds (VOCs). Many VOCs are human-made chemicals that are used and produced in the manufacture of paints, pharmaceuticals, and refrigerants. |
| Emulsion Polymerization | Emulsion polymerization is a method of producing polymers or connected groups of smaller chemical chains known as monomers, in a water solution. The method is often used to make water-based paints, adhesives, and varnishes, in which the water stays with the polymer and is marketed as a liquid product. |
| 2025 National Packaging Targets | In 2018, the Australian Environment Ministry set the following 2025 National Packaging Targets: 100% of the packaging must be reusable, recyclable, or compostable by 2025, 70% of plastic packaging must be recycled or composted by 2025, 50% of average recycled content must be included in packaging by 2025, and problematic and unnecessary single-use plastic packaging must be phased out by 2025. |
| Russian Government鈥檚 Import Substitution Policy | The Western sanctions suspended the distribution of several high-tech items to Russia, including those required by the raw material export sectors and the military-industrial complex. In response, the government launched an "import substitution" scheme, appointing a special commission to oversee its implementation in early 2015. |
| Paper Substrate | Paper substrates are paper sheets, reels, or boards with a base weight of up to 400 g/m2 that has not been converted, printed or otherwise altered. |
| Insulation Material | A material that inhibits or blocks heat, sound, or electrical transmission is known as Insulation Material. The variety of insulation materials includes thick fibers like fiberglass, rock and slag wool, cellulose, and natural fibers as well as stiff foam boards and sleek foils. |
| Thermal Shock | A temperature change known as thermal shock generates stress in a material. It commonly results in material breakdown and is especially prevalent in brittle materials like ceramics. When there is a quick temperature change, either from hot to cold or vice versa, this process occurs abruptly. It occurs more frequently in materials with poor heat conductivity and insufficient structural integrity. |
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Research Methodology
糖心vlog传媒 follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: The quantifiable key variables (industry and extraneous) pertaining to the specific product segment and country are selected from a group of relevant variables & factors based on desk research & literature review; along with primary expert inputs. These variables are further confirmed through regression modeling (wherever required).
- Step-2: Build a Market Model: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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