Asia: Market for Prepared Glues And Other Prepared Adhesives 2024

Market Size for Prepared Glues And Other Prepared Adhesives in Asia

The Asian market for prepared glues and other prepared adhesives expanded modestly to $X in 2021, picking up by 2% against the previous year. The market value increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Prepared Glues And Other Prepared Adhesives in Asia

In value terms, production of prepared glues and other prepared adhesives rose modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 when the production volume increased by 20%. As a result, production attained the peak level of $X. From 2020 to 2021, production of growth remained at a somewhat lower figure.

Exports of Prepared Glues And Other Prepared Adhesives

Exports in Asia

In 2021, the amount of prepared glues and other prepared adhesives exported in Asia rose remarkably to X tons, increasing by 7.5% on the previous year's figure. Total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +47.2% against 2016 indices. The most prominent rate of growth was recorded in 2017 with an increase of 23%. The volume of export peaked in 2021 and is likely to see steady growth in years to come.

In value terms, exports of prepared glues and other prepared adhesives surged to $X in 2021. The total export value increased at an average annual rate of +4.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates adhesives structure, accounting for X tons, which was approx. 59% of total exports in 2021. South Korea (X tons) ranks second in terms of the total exports with a 6.9% share, followed by Taiwan (Chinese) (6.4%), Malaysia (5.7%) and Turkey (5.5%). The following exporters - Japan (X tons) and Hong Kong SAR (X tons) - each amounted to a 5.8% share of total exports.

China was also the fastest-growing in terms of the prepared glues and other prepared adhesives exports, with a CAGR of +9.7% from 2012 to 2021. At the same time, Malaysia (+9.6%), South Korea (+9.4%) and Turkey (+6.9%) displayed positive paces of growth. Japan and Hong Kong SAR experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (-5.2%) illustrated a downward trend over the same period. China (+15 p.p.) and South Korea (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR, Japan and Taiwan (Chinese) saw its share reduced by -2%, -2% and -11.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest prepared glues and other prepared adhesives supplier in Asia, comprising 42% of total exports. The second position in the ranking was held by South Korea ($X), with a 14% share of total exports. It was followed by Japan, with an 11% share.

In China, exports of prepared glues and other prepared adhesives expanded at an average annual rate of +8.4% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+9.9% per year) and Japan (-2.5% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, with an increase of 12% against the previous year. Overall, the export price, however, showed a slight contraction. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.9%), while the other leaders experienced more modest paces of growth.

Imports of Prepared Glues And Other Prepared Adhesives

Imports in Asia

In 2021, the amount of prepared glues and other prepared adhesives imported in Asia rose significantly to X tons, picking up by 8.6% compared with 2020. The total import volume increased at an average annual rate of +4.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 when imports increased by 36% against the previous year. As a result, imports attained the peak of X tons; afterwards, it flattened through to 2021.

In value terms, imports of prepared glues and other prepared adhesives skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of imports of prepared glues and other prepared adhesives in 2021 were China (X tons), Vietnam (X tons) and South Korea (X tons), together accounting for 37% of total import. India (X tons) ranks next in terms of the total imports with a 5.3% share, followed by Turkey (5%). The following importers - Indonesia (X tons), the United Arab Emirates (X tons), Thailand (X tons), Hong Kong SAR (X tons), the Philippines (X tons), Taiwan (Chinese) (X tons), Malaysia (X tons) and Mongolia (X tons) - together made up 26% of total imports.

From 2012 to 2021, the biggest increases were recorded for Mongolia (with a CAGR of +38.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported prepared glues and other prepared adhesives in Asia, comprising 39% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 9.1% share of total imports. It was followed by Hong Kong SAR, with a 6.5% share.

In China, imports of prepared glues and other prepared adhesives increased at an average annual rate of +3.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Vietnam (+13.5% per year) and Hong Kong SAR (+3.3% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, with an increase of 12% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 33%. Over the period under review, import prices hit record highs in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Mongolia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+13.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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