The impact of COVID-19 pandemic can be felt across the chemical industry. The growing inability in the production and manufacturing processes, in the light of the self-quarantined workforce has caused a major disruption in the supply chain across the sector. Restrictions encouraged by this pandemic are obstructing the production of essentials such as life-saving drugs.
The nature of operation in chemical plants that cannot be easily stopped and started, makes the operational restrictions in these plants a serious concern for the industry leaders. Restricted and delayed shipments from China have created a price hike in the raw materials, affecting the core of the chemicals industry.
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The slacking demand from different impacted industries such as automotive is negatively influencing the growth of the chemical industry. In light of the current crisis, the market leaders are focused to become self-reliant which is expected to benefit the economic growth of different economies in the longer term. Companies are triggering events to restructure and recover from the losses incurred during the COVID-19 pandemic.
Any substance applied to the surfaces of materials that binds them together is known as an adhesive. Polyester adhesives are synthetic adhesives based on saturated or unsaturated polymers. These adhesives are referred to as multi-component adhesives, which mean they harden by mixing two or more components which chemically react. The components of polyester adhesives include solvents (acetone or a mixture of acetone and alcohol), hardening initiators (organic peroxides or hydroperoxides), hardening catalysts (tertiary amines or cobalt salts), and extenders (cement or silica). All the components of polyester adhesives are mixed just before use. Without the use of extenders, the adhesives are slightly colored or are colorless liquid compositions and have a working life ranging from several minutes or several hours. Polyester adhesives ensure high adhesion strength to plastics and other materials like metals, rubber, wood, silica and organic glass. The adhesive bonds are resistant to water, gasoline and mold as well as to weak acids and salt solutions.
The application of polyester adhesives widely lie in the manufacture of optical products, furniture and also used widely in the construction business. A polyester product called as polyester hot-melt adhesive films are designed to show excellent adhesion to a variety of fabrics and plastics. They are heat resistant, show high bond strength and exhibit excellent chemical resistance. These films have a stiff hand and are typically not suited for application where elasticity is required. Due to its excellent adhesion, great wash resistance and fast set times they are widely used adhesives. Polyester adhesive tapes find their use in splicing- treated paper to low profile decorative trim.
The market demand for polyester products is high due to its application particularly in the construction and furniture line. The construction industry is growing globally especially in developing countries like India and China where the construction market is huge. They make use of polyester adhesives largely. The market for this product is growing and is expected to rise further in the next few years. Every household all over the world requires furniture and hence there is continuous demand for this product in the market and since it does not cause any significant harm to the environment, there are no extreme stringent policies for its use. Other end users for this product include the textile, footwear, autoomobile and product assembly sectors. Owing to the growth of these industries the market for polyester adhesives is not foreseen to go down any time in the next few years. A few companies have registered patents relating to the methods used to manufacture these products.
The main market segments for this product include North America, Europe, Asia Pacific and rest of the world (RoW). Asia Pacific has the biggest market demand for polyester adhesives due to the growth in the textile and construction industries. The U.S. is one of the biggest suppliers of raw materials that are required for the production of polyester adhesives. Europe also has high market demand for this product, as it is one of the largest automobile manufacturers in the world. Polyester coatings do not particularly cause environmental problems and hence the European and American governments do not have extreme stringent policies against its use. The RoW segment, which is still developing in the construction field, also has a big market for polyester adhesives.
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Some of the main companies profiled for this product include Dow Chemical Company, ABP International, EY Technologies (division of Pascale Industries Ltd.), Rayven, Axson Technologies, and Evonik Industries among others.