the global adhesives market pine chemicals · 2018. 3. 31. · kraton performance polymers, inc....
TRANSCRIPT
The Global Adhesives
Market
&
Pine Chemicals
Michiel Brink
Business Unit Director Adhesives
EMEA & Asia Pacific
Email: [email protected]
Agenda
Introduction
The Global Adhesives Industry
● Key figures & macro trends
The Global Tackifier Industry
● Key figures & macro trends
Pine Chemicals Tackifiers & Value creation
Sustainability
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Introduction
3
The acquisition of Arizona by Kraton was completed on January 6, 2016
Kraton is a leading global producer of styrenic block copolymers (“SBCs”) and other engineered polymers, and through
its recent acquisition of Arizona Chemical, a leading global producer of high-value performance products and specialty
chemicals derived from non-hydrocarbon, renewable raw materials
The acquisition extends Kraton’s technology and market diversification
Arizona Chemical a Kraton company
Kraton’s expanded Global Footprint
Global Adhesives Industry overview
4
Source: Chemquest 2014 report, Internal
Leading Adhesives Producers 2013 vs 2004
30%
19% 15%
14%
9%
3%
10%
Global Adhesives Submarket Overview
Other
Tapes
Flooring
Packaging
Assembly
Labels
Nonwoven
The Adhesives industry is projected to grow in line with global
GDP of ~3%, varying by technology & region
Some Macro Trends:
Submarket: New polymer systems (MPe) replacing EVA
systems in Packaging
Market consolidation: M&A among Adhesive producers
Globalization: More producers going pan-atlantic or
global and targeting significant shares in all regions
Asia Market: Largest market and growing at ~6%.
“Let’s look at an example driving this”
Adhesives Market Global
Total: ~ 13,000 KT (~ $30 billion)
Adhesives Regional Overview
2013 2004
Growth in Asia – an example
Who is familiar with November 11 (11/11) in China?
5
Growth in Asia – an example
Students in China first celebrated Single’s Day in 1993.
It is an appreciation of being single.
The picked November 11 (11/11) - the loneliness of the number one.
6
China’s Singles Day e-shopping
surpassed Cyber Monday
(Monday after Thanksgiving
holiday) as the world’s biggest
online shopping day in 2012 Online spending
In $ billions
Growth in Asia – an example
7
Alibaba reaches a Record $14.3 Billion in Sales for Singles Day last year.
120.000 orders a minute!
Distributed by 400.000 trucks & 200 airplanes
Global Resin Tackifier Industry overview
8
Source: Chemquest 2014 report, Internal
Growth: Tackifer industry is
projected to grow in line with global
Adhesives Industry
New Polymers: these require new
tackifiers which excel in compatibility
and performance
Regulatory: Increased focused on
safety, health and environment
Globalization: Global product role-
outs
Crude Oil price: resulting in lower
feedstock cost for hydrocarbon
resins
Volatility: shorter cycles and higher
amplitude
Global Resin Macro trends Global Resin Supply by technology
Hot Melt is the prime adhesive technology which
requires a tackifier to perform
Hot melt adhesives are a major technology
comprising ~15-20% of the global adhesive market
But why would the adhesives industry choose for a
industrial pine chemical to tackify their Hot Melt?
“Let’s have a look at a value curve
example”
Pine Chemicals Tackifiers for Adhesives
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Source: Arthur D. Little, Chemquest, Internal
Adhesive Key Technologies
Definition: Industrial Pine Chemicals for
Adhesives are High Value Tall Oil Rosin Esters
and Terpenes Tackifiers derived from CTO/CST
through Biorefining.
Biorefining Value Chain Subject Matter
Where do we play?
Value Curve Example
The Starbucks story….one we are all familiar with.
The value curve below shows where competitors compete on
● ranking these from low to high importance
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Source: adapted from https://www.blueoceanstrategy.com/what-is-blue-ocean-strategy
Value Curve Example
This serves as an example only – but hopefully it encourages you to make your own.
A possible value curve view on Industrial Rosin Esters vs Hydrocarbon tackifiers.
“Now let’s look at the sustainability value in more detail”
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Renewable Raw Materials
Sustainability
The role of industrial pine chemicals for the adhesives industry:
Resource efficiency
● Reducing CO2 emissions
● Sustainable production
● Use of raw materials according to cascading principle
● Bio-based products
Helping our customers to achieve their sustainability goals
● Renewable raw materials used resource efficiently
● Low carbon footprint
● Bio-based tackifiers used in many different adhesives
Renewable Resources. Endless Possibilities.TM
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CTO refining is Intelligent BioEconomy
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