Polyurethane adhesive is an environmentally friendly adhesive. It is an important part of the rapidly developing polyurethane resin. It has excellent performance and has been widely used in many aspects. It is one of the eight important adhesive varieties.
The development of polyurethane adhesives in my country started in the 1960s. After the 1980s, my country's research on water-based polyurethane adhesives is more active, but compared with the level of large-scale industrialization of water-based polyurethane adhesives abroad, it is still in the development stage. In the 1990s, due to the urgent need for localization of imported products, the relevant scientific research institutes and production units increased their development efforts, and new products continued to emerge. So far, there are almost all kinds of adhesives in foreign countries in my country.
Although my country's polyurethane industry has a considerable scale, there is still a big gap compared with developed countries. The main gap is that the overall output of polyurethane is not large. In addition, the technical level is still lagging behind some developed countries.
1. Introduction to Adhesive
The compound polyurethane adhesive industry is a sub-industry adhesive industry of fine chemicals. Adhesives refer to the substances that can make the adherends bond together through the action of adhesion. According to the classification of adhesive products by China Adhesive Industry Association, it is mainly divided into the following 6 categories: pressure-sensitive adhesives (bands), polymer emulsion adhesives, rubber-type adhesives, polyurethane adhesives, hot melt adhesives and engineering adhesives.
2. Introduction of composite polyurethane adhesive
Adhesive refers to a substance that can make the adherends stick together through adhesion, and there are many kinds of them. Among them, the composite polyurethane adhesive specifically refers to an adhesive containing urethane groups (-NHCOO-) or isocyanate groups (-NCO) in the molecular chain, and is mainly used to bond two or more film-like or sheet-like materials with different or same properties Then, form the adhesive of the new composite material. The principle is shown in the figure below:
Classification and performance
There are many kinds of composite polyurethane adhesive products, and the classification methods are different. There are three common classification methods:
①According to the use, it can be divided into: packaging, leather, textile shoes, printing, transportation, household appliances and electronic products, furniture and building materials, safety protection, composite polyurethane adhesives for new energy, etc.;
②According to the characteristics, it can be divided into several categories: ultra-low temperature, foaming type, anaerobic type, conductivity, high temperature resistance, high barrier, anti-aging, anti-media, anti-slip agent composite polyurethane adhesive;
③According to different chemical principles, it can be divided into two categories: reactive composite polyurethane adhesive, non-reactive composite polyurethane adhesive. Due to the problems of environmental protection and safe production of non-reactive composite polyurethane adhesives, its market share has been gradually replaced by reactive composite polyurethane adhesives this year.
Reactive composite polyurethane adhesive refers to a composite polyurethane adhesive that contains more than two chemically active components and is cured and cross-linked during use. In addition to a wide range of applications, the adhesive has the following advantages:
High bonding strength;
High and low temperature resistance, wide design range;
Good hygiene and biological performance;
High process adaptability;
Strong media resistance.
3. Application of composite polyurethane adhesive
Composite polyurethane adhesives are mainly used in packaging, printing, leather, textile and shoemaking, transportation, home appliances and electronics, furniture and building materials, safety protection, new energy, tobacco, etc.
4. Overview of the composite polyurethane adhesive industry
①Since the reform and opening up, my country's composite polyurethane adhesive industry has continued to develop rapidly and steadily, and a certain production scale has been formed. However, from the perspective of the industry, small and medium-sized composite polyurethane adhesive manufacturers are still the main body of the industry. According to incomplete statistics, there are hundreds of composite polyurethane adhesive production enterprises in China, most of them are still small and medium-sized enterprises, scattered in 28 provinces, municipalities and autonomous regions in the country, with annual sales revenue of more than 50 million yuan and independent technology. There are less than 10 main enterprises; and most small enterprises have low production technology and management level, small output and low product grades, making it difficult to meet the challenges of modern production and market competition.
②As a high-end product in the industry, composite polyurethane adhesives, although due to historical reasons such as late start-up time and relatively small investment in R&D, the technical level of domestic production companies on a few products cannot compete with international companies, but benefit from the application of domestic new materials The continuous expansion of the field and the rapid development of the domestic economy in the past 10 years have maintained a strong development momentum. In the past 10 years, the output and sales have increased rapidly, with an average growth rate of 20%.
③In 2009, the domestic industrial added value increased by 11% compared with 2008. In that year, China’s output of composite polyurethane adhesives used in the field of plastic flexible packaging reached 215,000 tons, and it still achieved a high growth rate of 26.5%. Its sales volume accounts for only about 5.5% of the total sales of all adhesive varieties, but its sales account for more than 8% of the total sales of all adhesives, and it has an important position in the entire adhesive industry.
5. Main development trends of the industry
At present, the development of composite polyurethane adhesive industry shows the following major trends
①Expansion of application fields
As a high-end adhesive, composite polyurethane adhesives are widely used in traditional packaging fields such as food, pharmaceuticals, daily chemicals, precision instruments, meters, and electronic appliances, as well as printing in oil, household appliances, construction materials, transportation, new energy, and safety Protection and other fields have also begun to be widely used.
②Increase industry concentration
In recent years, users have increasingly improved the quality, performance and environmental protection of composite polyurethane adhesive products, and their brand awareness of enterprises in the industry has been continuously strengthened, and the market competition has become increasingly fierce. The industry as a whole presents a trend of large-scale and intensive development, and the industry's concentration is constantly increasing; companies with strong R&D strength and high technical level are expanding rapidly.
With the increasing demand of domestic composite polyurethane adhesives and continuous innovation of application methods, special composite polyurethane adhesives tailored according to customer performance requirements will become the development trend of high-end adhesives in the future. This will affect the research and development capabilities of composite polyurethane adhesive production enterprises and The level of specialization puts forward higher requirements.
④ Import substitution trend
In recent years, domestic enterprises have made considerable technological progress in some composite polyurethane adhesive products, and can gradually replace this part of imported products to compete with the Guoxi display giant. At the same time, downstream customers have a strong perspective from reducing their own costs. The need to replace imported products has also stimulated the development and production of domestic products.
6. Industry market competition pattern
The number of small enterprises in the composite polyurethane adhesive industry in China is large and widely dispersed. These enterprises are mainly engaged in products with low technical requirements and low profit margins. Therefore, they are at the bottom of the industry pyramid, and few of them have independent knowledge of high-end composite polyurethane adhesives. The domestic enterprises with property rights mainly produce products with higher technological content and higher profit margins, which are in the upper middle of the industry pyramid; while international giants rely on their strong R&D capabilities and brand advantages to reduce production costs by establishing joint ventures or production bases in the country. The market share of the highest-end products achieves a monopoly and a clear competitive advantage in technology research and development, and is at the top of the pyramid.
As a mid-to-high-end product in the industry, the composite polyurethane adhesive has high requirements on the company's research and development capabilities, technical level, and sales channels. It has long been monopolized by international giants such as German Henkel, Dow Corning, and 3M. Many domestic industries The required composite polyurethane adhesives all depend on imported or joint venture products. Since the 1990s, domestic enterprises, scientific research institutes and other enterprises and institutions have gradually begun to enter the independent research and development of products in this field. After years of technical accumulation, they have gradually achieved independent knowledge development on composite polyurethane adhesive products to replace imported products. For the goal.
The field of plastic flexible packaging is one of the most important applications of composite polyurethane adhesives. After years of development, composite polyurethane adhesives for plastic flexible packaging have accounted for more than 50% of the production and sales of composite polyurethane adhesives, and have a relatively mature market. In 2009, our company produced 215,000 tons of composite polyurethane adhesives for plastic flexible packaging. At present, the domestic composite polyurethane adhesive market for plastic flexible packaging has formed the following pattern: the technology of the most high-end products of multinational companies is empty, the concentration of domestic enterprises is increasing, focusing on subdivided fields, and constantly expanding the market share of high-end and high-end products, and gradually realize the import substitution of products. "Market Research on Plastic Compound Flexible Packaging Adhesives"-"China Packaging Industry"
7. Market capacity analysis
In recent years, my country's adhesive industry has continued to develop rapidly, with output increasing from 1.705 million tons in 2002 to 4.628 million tons in 2010, and sales increasing from 16.3 billion yuan in 2002 to 59 billion yuan in 2010. (Source: China Monthly Adhesive Industry Association)
Benefiting from the rapid and stable development of the adhesive industry, composite polyurethane adhesives have developed rapidly in the past decade, with an average annual sales growth rate of up to 20%, making it one of the fastest growing adhesive products. Among them, plastic flexible packaging is the main application field of composite polyurethane adhesives. The proportion of composite polyurethane adhesives in this field accounts for more than 50% of the total production and sales of composite polyurethanes. After years of development, composite polyurethane adhesives for plastic flexible packaging have become a complete range and have a high technical level. , An important compound polyurethane type with mature market, the output of compound polyurethane adhesives for plastic flexible packaging in China in 2009 was about 215,000 tons, with sales of 4.35 billion yuan, an increase of 26.47% and 21.85% respectively over 2008.
Since 2009, China's composite polyurethane adhesives have developed rapidly, and the output has continued to increase at an average annual rate of more than 25%. In 2013 and 2014, the output of China's composite polyurethane adhesive industry reached 712,000 tons and 858,000 tons respectively, maintaining a good growth momentum. In 2013 and 2014, the sales revenue of the composite polyurethane adhesive industry was 15.65 billion yuan and 19.37 billion yuan, respectively.
In recent years, due to the continuous maturity of composite polyurethane adhesive technology and the upgrade of technical standards in downstream industries, composite polyurethane adhesives have gradually entered emerging fields such as ink printing, transportation, and security protection. The expansion of market capacity in the future will accelerate.
In addition to the rapid development of the above-mentioned emerging fields, the composite polyurethane adhesive gradually expands more application fields, and gets more in-depth applications in other emerging fields such as new energy, household appliances, and building materials. It is conservatively estimated that the overall use of composite polyurethane adhesives in emerging fields In the next few years, it will grow at a rate far exceeding 20%.
8. Industry profit level and change trend
In recent years, due to the sustained and rapid development of China's economy, the continuous boom of the downstream industry has driven the rapid development of the composite polyurethane adhesive industry. The overall gross profit margin of the industry is relatively stable, and the profitability is proportional to the output, especially for the production of high-performance composite polyurethane adhesive products. In terms of superior companies, profits have continued to increase in recent years, and the level of profit margins is relatively high. The main reasons are:
The composite polyurethane adhesive industry has a higher gross profit margin
Companies producing high-end traditional and emerging areas of composite polyurethane adhesives have strong market bargaining power and cost pass-through capabilities, and can cope with fluctuations in raw material prices. It is expected that for a long period of time in the future, the gross profit margin of composite polyurethane adhesives in high-end traditional fields will be relatively stable, and the gross profit margin of composite polyurethane adhesives applied in emerging fields will remain relatively high. Therefore, the polyurethane adhesive industry will have a higher gross margin.
The demand for composite polyurethane adhesive industry products continues to increase
As a new material, the application range of composite polyurethane adhesives is still expanding. Especially high-performance composite polyurethane adhesives that can adapt to different environments and performance requirements have begun to be widely used in ink printing, household appliances, building materials, transportation, and new energy. , Security protection and other emerging fields, these emerging fields have huge markets, and with the upgrading of technical standards in these fields, the future market of composite polyurethane adhesive products is huge.
9. Factors affecting the development of the industry
①The application field is constantly expanding
As a new polymer material, the composite polyurethane adhesive has a prominent role in improving product performance, reducing costs, environmental protection and energy saving. With the improvement of product quality and stability in recent years, the popularity and deepening of market awareness, related downstream industry technical standards Upgrade, the application field continues to expand.
②Industrial policy support
As a new polymer material, the composite polyurethane adhesive plays an important role in the national economy, and has received more and more attention from government departments. Some policy documents have clarified the future development of the industry and included it in the country’s encouraged development industry. Compound polyurethane adhesive companies provide a very favorable policy environment.
③ Upgrade of related industry technical standards
Composite polyurethane adhesives are widely used in packaging, printing, household appliances, building materials, transportation, new energy, safety protection and other important fields. The upgrade of technical standards in related fields has brought greater opportunities for the development of composite polyurethane adhesives.
④Intellectual property protection
In recent years, with the introduction of various laws and regulations on the protection of intellectual property rights, the state has increasingly strengthened the protection of intellectual property rights, which provides a powerful guarantee for the rapid development of enterprises with independent innovation capabilities and intellectual property rights in the future.
① The price of raw materials fluctuates sharply
The raw materials used in the production of composite polyurethane adhesives are all petroleum processed products. In recent years, the crude oil prices in the international market have fluctuated violently, which has led to major changes in the prices of raw materials for composite polyurethane adhesives.
② R&D requirements are increasing day by day
The composite polyurethane adhesive industry is a technology-intensive industry. Product formulation and R&D capabilities are the guarantee for companies to maintain high profit margins. With the rapid development of the global fine chemical industry, customer needs are constantly changing, and they are showing personalized trends. For the difficulty of product research and development, companies must always pay attention to product formulation improvement, performance improvement, and expand application areas to meet the constantly changing market demand and consolidate market share.
③ Multinational companies intensify local competition
With the rapid development of the composite polyurethane adhesive industry, some domestic companies have begun to gradually grasp independent intellectual property rights and gradually gain competition in some areas; however, some multinational companies realize that the Chinese market has strong development potential and it is their implementation of the global Hotspots of the globalization strategy. In recent years, multinational companies have increased their investment in China, which has accelerated the localization of product production and scientific research and reduced their costs.
10. Industry Chain
Industry upstream and downstream industry chain
The upstream of the composite polyurethane adhesive industry is the basic petrochemical raw material industry, the main raw materials are diethanol, adipic acid, isophthalic acid and so on.
At present, 95% of the raw materials of the industry have been localized, mainly provided by Sinopec, PetroChina, Wuer (China) and Yantai Wanhua; overall, the raw materials of composite polyurethane adhesives are generally in a balance between supply and demand.
Due to the wide range of applications, the downstream industries of composite polyurethane adhesives are: packaging, printing leather, textile, shoemaking, household appliances, electronic products, furniture, building materials, transportation, new energy, safety protection, tobacco, etc.