Henkel Technologiesto Maintain Dominant Position in South Korea Adhesives Market with Market Expected to Reach 4.5 Billion by 2020: Ken Research
Future Growth of adhesives market envisaged to be guided by growth in demand water based adhesives and Pressure Sensitive adhesives.
· Future Growth of adhesives market envisaged to be guided by growth in demand water based adhesives and Pressure Sensitive adhesives.
Ken Research announced its latest publication on “South Korea Adhesives Market Outlook to 2020 –Rising Demand from Industrial Sector and Overseas Market to Foster Future Growth” which provides a detailed analysis of the adhesives market in South Korea. The report covers various aspects such as market size of South Korea adhesives market, segmentation on the basis of technology, product, application, natural and synthetic adhesives and end users. The report also covers market in different aspects such as market size, segmentation of market on the basis of global and local players, import and export of adhesives in the market. The report is useful for adhesives manufacturers, wholesalers of adhesive, retail chains and new player venturing in the market.
South Korea adhesive industry has witnessed adhesives market witnessed fluctuations in growth rate because of the recession and the presence of next best substitute and inclining demand for better heat resistance chemicals. The adhesives market has been transformed in the recent years, owing to its superiority over different chemicals, which imparts high heat resistance to the end product and reduces the weight of the end products heavily. The sales revenues of adhesives market in South Korea is projected to witness drastic incline in the outlook period (2015-2020), at a positive yet slow CAGR of ~% during 2015-2020, supported by surging growth of packaging, automotive industry and construction sector.
Adhesives market in South Korea has witnessed tremendous growth over the past few years. The market is significantly large as compared to other Asia countries. Additionally, in the coming years, this trend is likely to get more strengthened up because greater numbers of players are planning to setup their manufacturing plants in South Korea especially in automotive sector, which will give impetus to the adhesives market.
“Reduced dependence on imports, entry of new local as well as global players, continuous efforts of the government to stir demand will provide positive impetus to the overall market for adhesives in South Korea”, according to the Research Analyst, Ken Research