Lucintel identifies and prioritizes opportunities for growth of adhesives in the South Korean automotive industry by product type, vehicle, and application type

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?

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.

Lucintel
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Ph: +1-972-636-5056 Fax: +1-877-883-5140
marketing@lucintel.com

This release was published on openPR.