欧宝体育

1. Introduction to the Project

1.1 Project background

1.1.1 Product introduction

Automotive adhesives cover various types of adhesives and sealants used in the automotive industry for component production, vehicle manufacturing and vehicle maintenance. Through the application of adhesive technology, noise, vibration, weight and energy consumption can be reduced, process flow can be simplified, product quality can be improved, and driving and riding comfort can be enhanced, achieving the effect that other connection methods are difficult to reach.

During production and use, automotive adhesives usually exhibit significant environmental advantages. For example, hot melt glue sticks emit almost no harmful gases during the production and use phases, meeting the strict environmental standards of modern industry. In addition, it is easy and fast to operate, effectively reducing the complexity and time cost of manual operation.

1.1.2 Market prospect

(1) Current situation of automotive adhesive market

With the rapid development of the automotive industry, the market demand for automotive adhesives, as an indispensable material in automobile manufacturing, continues to rise. In recent years, the market size of automotive adhesives has continued to expand, mainly due to the continuous growth of global automotive production and the continuous progress of automobile manufacturing processes. Especially with the rapid development of new energy vehicles,  intelligent vehicles and other fields, higher requirements have been put forward for the performance and quality of automotive adhesives. In addition, the popularization of concepts such as environmental protection, energy saving, and low carbon has also prompted automobile manufacturers to adopt more environmentally friendly adhesive products.

Automotive adhesives are widely used in various aspects of automobile manufacturing, such as body assembly, parts bonding, sealing, leak prevention, etc. Among them, body assembly is the main application area for automotive adhesives, accounting for a large proportion of market demand. In addition, with the rapid development of new energy vehicles, the bonding and sealing of battery packs, motors and other components have also become important application areas for automotive adhesives.

According to the type of resin, automotive adhesives are divided into epoxy, acrylic, polyurethane, silicone, SMP, methyl methacrylate, and other resins. Methyl methacrylate adhesives held the largest market share in 2024.

From a technical point of view, automotive adhesives are classified into hot-melt, solvent-based, water-based, pressure-sensitive, reactive, and thermoset types, with reactive technology accounting for the largest share of 67.9%. It is widely adopted due to its excellent durability and high adhesive strength under harsh environmental conditions, which has a high growth rate.

On the basis of vehicle type, automotive adhesives are categorized into passenger cars, light commercial vehicles, and heavy commercial vehicles, with passenger cars segment holding the largest share of 66.7% in 2024. Passenger cars are the most common mode of transportation in developed countries and are also increasing in developing countries due to increase in per capita income.

From the perspective of major manufacturers, at present, the major manufacturers in the automotive adhesive market include Henkel, Dow Chemical, 3M and other internationally renowned enterprises. These enterprises have advanced production technology and rich product series, which can meet the diverse needs of different customers. In addition, with the intensification of market competition, domestic enterprises are also constantly rising, gradually improving their own research and development capabilities and market share.

(2) Market forecast for automotive adhesives

Demand for light-duty vehicles continues to rise: as the automotive industry increasingly focuses on the manufacture of light-duty vehicles to improve fuel efficiency and reduce emissions, adhesives play a key role in joining different materials such as aluminum, composites and plastics. These materials are commonly used in the production of light-duty vehicles. This trend has boosted the demand for automotive adhesives as they offer an effective alternative to traditional mechanical fastening methods, reducing vehicle weight and improving fuel efficiency.

Popularity of electric vehicles (EVs): the global transition to electric vehicles has accelerated the demand for automotive adhesives. Electric vehicles require specific adhesives to assemble the battery, perform thermal management, and bond lightweight materials to offset the weight of the battery pack. With the increasing production of electric vehicles, the demand for advanced adhesives that meet the specific requirements of electric vehicle manufacturing is expected to increase significantly.

Expansion of the electric and hybrid vehicle markets: the rapid growth of the electric vehicle market has brought a significant market opportunity for automotive adhesives, particularly in the fields of battery assembly, power systems, and thermal management applications. Developing specialized adhesives that meet the unique needs of electric vehicles can open up new revenue streams for adhesive manufacturers.

Development of bio-based and sustainable adhesives: with the increasing awareness of environmental protection, the demand for environmentally friendly and sustainable adhesive solutions continues to grow. The development of bio-based adhesives with low volatile organic compound (VOC) content and reduced environmental impact can meet the sustainability goals and regulatory requirements of the automotive industry.

Increased use of composites and advanced materials: the automotive industry is shifting to the use of advanced materials such as carbon fiber composites and high-strength plastics, which is creating new opportunities for specialized adhesives. These adhesives can be customized to effectively bond advanced materials, providing enhanced performance, durability, and weight reduction advantages.

The automotive adhesives are expected to reach a market value of 5.9 billion US dollars by 2027, with a compound annual growth rate showing an upward trend. Among them, China's automobile sales accounts for one-third of global sales, and the valuation of automotive adhesives will exceed 2 billion US dollars. Therefore, the domestic automotive adhesive market has great potential.

The automotive parts industry chain in the Economic Development Zone is complete, the output is large, and the product competitiveness is strong. The surrounding infrastructure of the project construction site is perfect, the transportation is convenient, and the resources required for production are quite complete.

1.1.3 Technical analysis

The production technology of automotive adhesives mainly includes the following steps:

Raw material preparation: the main raw materials for automotive adhesives include epoxy resin, carboxyl-terminated liquid nitrile rubber, etc. These raw materials need to be pre-polymerized by heating to ensure their reactivity and adhesive properties.

Mixing and kneading: the pre-polymerized raw materials are measured and added to the kneading machine according to the test conditions for uniform mixing. This step ensures the uniformity and stability of the adhesive.

‌Grinding and forming: after uniform mixing, the final adhesive product is formed by grinding to a fine and homogeneous paste through a three-roller machine. This step ensures the physical properties and bonding effect of the adhesive.

1.1.4 Advantageous conditions of project construction

(1) Policy advantages

‌Tax incentives and financial subsidies: the state supports the development of the automotive adhesive industry through tax incentives and financial subsidies. For example, environmentally friendly adhesives such as modified and water-based adhesives and new hot melt adhesives are listed as encouraged industries and enjoy tax incentives and financial subsidies.

The Catalogue of Encouraged Industries for Foreign Investment (2020 Edition) proposes that new products and technologies for catalysts, commercialization and processing technologies of dyes (pigments), electronic chemicals and papermaking chemicals, leather chemicals, oilfield auxiliaries, surfactants, water treatment, production of adhesives, sealants, adhesive tapes, inorganic fibers, inorganic nano-materials, and pigment coating treatment and deep-processing are classified as encouraged industries for foreign investment.

The 14th Five-Year Plan for the National Economic and Social Development of the People's Republic of China and the Outline of the Long-term Vision Goal for 2035 mentions promoting the development of high-end new materials and strengthening the research and application of bio-based and biomedical materials; Accelerate breakthroughs of key technologies for high-performance resins such as metallocene polyethylene.

(2) Industrial advantages

Changchun City has a complete automotive industry system, with 6 major vehicle manufacturers, 7 major automobile brands, and nearly half of the world's top 100 automotive parts enterprises settled in Changchun. It is a pilot city for the national battery swap mode for new energy vehicles, a pilot city for the national comprehensive electrification pilot zone in the public sector, and one of the first batch of pilot cities for the application of "vehicle-road-cloud integration" for intelligent connected vehicles. Changchun firmly grasps the industrial advantages of the automotive manufacturing industry, focuses on the direction of electrification, networking and intelligence, actively extends, supplements and strengthens the chain, accelerates the high-quality development of the new energy vehicle industry, and builds a world-class advanced automotive manufacturing cluster.According to statistics, there are currently over 1000 automotive parts supporting enterprises in Changchun City, with a supporting output value of nearly 160 billion yuan. In 2023, the output value of automotive parts enterprises in the city reached 139.91 billion yuan, a year-on-year increase of 8.6%, accounting for 30.6% of the total output value of the automotive industry.

(3) Location advantages

Changchun Economic Development Zone is located in Changchun City, Jilin Province, at the geographical center of Northeast Asia, and is an important node of the Harbin-Dalian Economic Belt and the China-Mongolia-Russia Economic Corridor. This geographical location makes the Economic Development Zone an important hub connecting various countries of Northeast Asia, which is conducive to international trade and regional cooperation.‌The transportation network of the Economic Development Zone is extremely convenient. The zone integrates aviation, railway, high-speed, light rail and other modes of transportation, and has Longjia International Airport, which can reach 2/3 of the cities in China in 1.5 hours and major cities around the world in 5 hours. In addition, there are several highways and railway lines in the zone, which facilitate the movement of logistics and people.

(4) Talent advantages

Changchun Economic Development Zone has abundant human resources and strong scientific and technological force. There are 28 colleges and universities such as Jilin University in the zone, national research institutions such as Changchun Institute of Optics, Fine Mechanics and Physics and Changchun Institute of Applied Chemistry, 97 independent scientific research institutions, 71 national or provincial key laboratories, 25 academicians of the Chinese Academy of Sciences and the Chinese Academy of Engineering, more than 300000 college students, and more than 600000 talents of all kinds, which can provide talent support for the project.

1.2 Contents and scale of project construction

The project covers an area of 50 acres, with a total construction area of 20000 square meters. A number of large-scale advanced production lines will be built, mainly producing 25000 tons of hot melt pressure-sensitive adhesive, EVA hot melt adhesive, APAO hot melt adhesive, polyolefin hot melt adhesive, etc.

1.3. Total investment of the project and capital raising

The total investment of the project is 500 million yuan, including a construction investment of 400 million yuan.

1.4 Financial analysis and social evaluation

1.4.1 Main financial indexes

After the project reaches the production capacity, its annual sales income will be 310 million yuan, its profit will be 91.9 million yuan, its investment payback period will be 7 years (after the tax, including the construction period of 1 year) and its investment profit rate will be 18%.

Note: “10 thousand yuan” in the table is in RMB.

1.4.2 Social evaluation

Promote the development of the automotive industry: automotive adhesive is an indispensable raw material in automotive production, and its application can improve the quality and production efficiency of automobiles, and promote the sustainable and healthy development of the automotive industry.

Drive the development of related industrial chains: the project construction will drive the development of related industrial chains such as raw material supply and production equipment manufacturing, forming an industrial cluster effect.

‌Environmental protection and sustainable development: promote the research and development and application of environmentally friendly adhesives, in line with the trend of energy conservation and emission reduction, and conducive to environmental protection.

1.5 Cooperative way

Sole proprietorship, joint venture or cooperation.

1.6 What to be invested by the foreign party

Funds and other ways can be interviewed.

1.7 Construction site of the project

Changchun Economic and Technological Development Zone

1.8 Progress of the project

The project proposal has been prepared

2. Introduction to the Partner

2.1 Basic information of the unit

Name: Kangda New Materials (Group) Co., Ltd.

Address: No. 169 Leizhou Road, Fengxian District, Shanghai

2.2 Unit Overview

Company overview: the company was founded in 1988, listed on the main board of the Shenzhen Stock Exchange. The company's management headquarters is located in Pudong New Area, adjacent to Zhangjiang Science City, and has subsidiaries, production bases and branches in Fengxian of Shanghai, Beijing, Tianjin, Xi'an, Shenzhen, Chengdu, Tangshan, Shaowu of Fujian and other places. The company adheres to the development concept of "integration, collaboration, innovation and transcendence", has gathered a professional new material and military electronics research and development team of more than 300 people, and has more than 100 patents and software copyrights. In 2022, the total number of employees in the group exceeded 1500, with an output value of nearly 2.5 billion yuan.

The company's business scope covers equipment manufacturing, new energy, rail transit, aerospace, electronic information, semiconductors, national defense and military industry, low-carbon environmental protection and other emerging industries. The company has always taken technological innovation as the first core competitiveness, and has a number of leading and competitive adhesives, display materials, electromagnetic compatibility equipment, and power module technologies, among which the performance of many series of products has reached or exceeded the level of similar domestic and international products, providing customers with systematic solutions. In the future, the company will vigorously develop functional polymer new materials, mainly based on adhesives and supported by special resins. Combining its own resources and advantages, it will deeply develop and transform towards electronic information materials, high-performance composite materials, and other directions. It will improve its strategic layout in the military industry, create a "new materials + military electronic technology" listed company platform, strive to become a leader in subdivisions, and create hidden champions. Through the construction of multiple external bases, the company will gradually become a high-end, information-based, and integrated polymer chemical new materials and military electronics industry group.

Overview of Changchun Economic and Technological Development Zone: Changchun Economic and Technological Development Zone was established in 1992 and approved by the State Council in 1993 as a national level economic and technological development zone. It currently has an administrative jurisdiction area of 112 square kilometers, with four streets and one town under its jurisdiction, and a permanent population of 400000. It is the main battlefield of Changchun's real economy and a gathering place for foreign-funded enterprises.

1. Development orientation. Changchun Economic and Technological Development Zone is a clear "4+1" core area for the construction of optoelectronic information industry in Changchun City, which is guided by the cultivation of new quality productivity, closely related to the construction of the city's "one center, five highlands" and "twin cities", and bound to Changchun Institute of Optics, Fine Mechanics and Physics, the "largest innovation leader" in the optoelectronic field, focusing on the first to break through the existing situation, the first to become bigger and stronger, the first to do fine and excellent, leading and driving a group of leading enterprises to develop into supporting clusters. It strives to reach more than 33 billion yuan in the scale of the optoelectronic information industry in the zone by 2025, accounting for more than one-third of Changchun's output value, and strives to build a leading demonstration zone for the optoelectronic industry and a benchmark zone for new quality productivity.

2. Ecological construction. The industrial ecosystem is mainly constructed from three dimensions: ① One valley and seven parks converge to create momentum. 30 billion yuan is invested to construct "Xinguang Intelligent Valley" covering an area of 1 million square meters, which is the largest optoelectronic information industry agglomeration area in Northeast China, including seven parks named after leading enterprises, namely the first phase "Hengguang Park", the second phase "Yunguang Park", the third phase "Zhiguang Park", the fourth phase "Jiguang Park", the fifth phase "Xinguang Park", the sixth phase  "Huaguang Park", and the seventh phase  "Huiguang Park". At present, one to four parks have been put into use or basically completed, and the project can be fully undertaken, and the five to seven parks will be implemented, and strive to have more than 200 enterprises settle in within 5 years, with an output value of more than 20 billion yuan and an output value of more than 50 billion yuan within 10 years. ② One institute and two universities converge to empower. In conjunction with Changchun Institute of Optics, Fine Mechanics and Physics, Jilin University and Changchun University of Science and Technology, the model of "government + institute and university + joint venture company" is adopted. By means of joint investment or land and factory investment, cooperation mechanisms will be innovated around the most cutting-edge technologies in the optical field, exchange platforms will be created, and complementary advantages will be realized, so as to transform the "flower of innovation" into the "fruit of industry". ③ One street, two centers, and six platforms converge as a torch. Combined with beautification, greening, lighting, coloring, and integrating optoelectronic elements, the construction of the optoelectronic information industry demonstration street will be accelerated, and it will become a new landmark of Internet hotspot leading the trend of science and technology and inheriting the cultural bloodline. The Youth Innovation Center of Changchun Institute of Optics, Fine Mechanics and Physics, which provides ten services such as comprehensive research and development, technology transfer, small-scale and pilot tests, intellectual property rights, periodicals and exhibitions, consulting and training, entrepreneurship counseling, salon and forums, industrial expansion, investment and financing, has become a "regional highland" for attracting and retaining talents. The benign operation of the National Semiconductor Laser Technology Innovation Center, which integrates technological innovation, product pilot test and achievement transformation, can break through the bottleneck of China's high-end laser chip technology, with an annual output of 10 million chips and an output value of more than 10 billion yuan. Six innovation platforms, including the State Key Laboratory of Applied Optics, the State Key Laboratory of Luminescence and Applications, the State Key Laboratory of Laser and Matter Interaction, and the National Engineering Technology Research Center, have gathered in our zone to jointly solve the national "bottleneck" technology.

3. Industrial clusters. Focusing on the five fields of optoelectronic core components, laser technology and applications, optoelectronic new materials, imaging and display, and high-end equipment manufacturing, strongly promote the rapid rise of a group of leading enterprises in the optoelectronic field, and realize the cluster gathering of more than 100 key enterprises such as central enterprises, Fortune 500 companies, unicorns, and quasi-listed companies. At present, there are mainly CMOS core component production and research and development enterprises represented by Gpixel, Changguang Zhengyuan, Changguang Yuanxin and Changguang Yuanchen, large-diameter laser technology application enterprises represented by Jiguang Semiconductor, new optoelectronic composite materials enterprises represented by Changguang Kingcera and Changguang Qichen, system imaging and display enterprises represented by Changguang Xinshi, Changguang Orion and Jitian Xingzhou, and optical high-end equipment manufacturing enterprises represented by Changguang Huada, Changguang Daqi and UP Optotech. Gpixel has exceeded 1 billion, occupying "half of the domestic market" in related subdivisions. A number of products of the listed company UP Optotech have been successfully applied to major national projects such as "Shenzhou" and "Tiangong".

4. Policy Services. Changchun Economic and Technological Development Zone promotes production and marketing synergy with the landing service of "customized agent construction", which can realize "land acquisition, project approval, construction and output in the same year". Cultivate the combination of production and financing with the forward-looking service of “fund injection”, and make every effort to build a 10-billion-level fund matrix with government-guided fund as the “leader” and social capital as the “competitor”, so as to give "take-off wings" for the development of optoelectronic information industry. By providing customized services guided by policies to promote the improvement of production and service, a series of policies supporting the optoelectronic information industry have been introduced, forming a multi-dimensional and multi chain policy system.2.3 Contact method

Cooperative enterprise Tel: 021-68918998

E-mail:kdxc@shkdchem.com

Contact method of the region where the project is located:

Contact unit: Investment Promotion Bureau 1 of Changchun Economic Development Zone

Contact person: Section Chief Ma

Tel: +86-431-81880320

Contact method of the city (prefecture) where the project is located:

Contact unit: Changchun Cooperation and Exchange Office

Contact person: Zhang Junjie

Tel: +86-15704317930

Fax: +86-431-82700590

E-mail: xmc82763933@163.com