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korea adhesive market overview. K orea A dhesive I ndustry A ssociation Sept. 26, 2013. KOREA ADHESIVES MARKET - OVERVIEW. Key features of Korean market in 2012 Market size : 581,035 MT(4.5% ↓ from 608,765 MT in 2011) Estimated Turnover value : 1,618 Mio. US$
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korea adhesive market overview Korea Adhesive Industry Association Sept. 26, 2013
KOREA ADHESIVES MARKET - OVERVIEW • Key features of Korean market in 2012 • Market size : 581,035 MT(4.5% ↓ from 608,765 MT in 2011) • Estimated Turnover value : 1,618 Mio. US$ • Estimated Growth rate : 4.5% down vs. 2011 • Export (11%↑) : 33,460 MT (352 Mio. US$) • Import (15%↑) : 23,532 MT (224 Mio. US$)
Adhesive market trends – Korea (1) • The Adhesives market is slow down by 4~5% in traditional adhesives market, such as building & construction, Packaging, woodworking, etc. • On the other hand, high end application such as Automotive, Electronics and Electrical application showed higher growth. however it usually not classified as adhesive market segment. • The majority of the demand in high performance/ high functional adhesives are not properly captured in the national statistics, because it is usually not classified as adhesive business. • High Performance/Functional adhesives in Automotive and E/E used to be dominated by multinational adhesives players. However more and more local Korean companies or big Korean conglomerate entering into this market more aggressively . • Sealant market is estimated to be about 200 Mio. US$.
ADHESIVE MARKET TRENDS – KOREA (2) • Focus more on sustainability with Environmental Friendly drive. i.e. less & less solvent base. K-GHS regulation and K-REACH regulation are getting even more restrictive and the related laws already passed in congress, effective from July 2013, and Jan 1 2015. • High performance value added products imported from Japan/Europe for mainly high-end applications. More and more local material is replacing those imported one. • Material base shifting from traditional to new advanced material to meet the sophisticated market application in electronics or automotive market. • Regardless, low cost formulation and low cost process still remain as key competitive factors. • Korean gov’t supporting openly multinational corporation to develop new adhesive material for high end application locally in Korea.
Korea Adhesives Production in Application Source : KAIA
Korea Adhesives – Export Source : KNSO 6
Korea Adhesives – Imports Source : KNSO 7
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