Structural adhesives for wind power are high-end structural adhesives. Kangda New Materials accounts for about 70% of the domestic share.

Structural adhesives for wind power can be divided into epoxy structural adhesives for wind power, polyurethane structural adhesives for wind power and vinyl structural adhesives for wind power, among which epoxy structural adhesives for wind power are the mainstream products in the market. Structural adhesives for wind power are high-end structural adhesives that must be certified by Germanischer Lloyd (GL) before they can be used in the manufacturing of wind turbine blades. Therefore, there are certain technical, qualification and R&D barriers in the industry.

Structural adhesive is a kind of adhesive that has the characteristics of high strength, aging resistance, fatigue resistance, corrosion resistance, impact resistance, and strong load capacity. It is suitable for bonding, sealing and reinforcement of metal, ceramics, plastics, rubber and other materials. Structural adhesives have a wide range of downstream applications, involving automobiles, construction, rail transit, wind power and other fields. In recent years, with the acceleration of energy conversion, the development of the wind power industry has accelerated, which has led to an increase in the market demand for structural adhesives for wind power.

Epoxy structural adhesives for wind power are mainly used for bonding the upper and lower casings of wind turbine blades. Since wind turbine blades are large in size and operate in harsh environments, structural adhesives for wind power must not only ensure the service life of the wind turbine blades, but also ensure the service life of the wind turbine blades. It is necessary to have sustained and stable mechanical properties, mechanical properties, etc. to avoid cracking, falling off, etc. during use of wind turbine blades.

According to the “2021-2026 China Wind Power Structural Adhesive Industry Market In-depth Research and Development Prospects Forecast Report released by the Industrial Research Center , in the Chinese market, market suppliers of structural adhesives for wind power include overseas companies such as Hexion and Dow Chemical in the United States, as well as domestic companies such as Kangda New Materials and Shanghai Huibai New Materials. The wind power structural adhesive industry has high entry barriers and high market concentration. Among them, Kangda New Materials is the leading domestic wind power structural adhesive company, with a market share of nearly 70%.

As a leading enterprise of structural adhesives for wind power, Kangda New Materials’ epoxy adhesive product production capacity will reach more than 46,000 tons in 2020. Structural adhesives for wind power are technically difficult and have high gross profit margins. According to Kangda New Materials’ revenue data, the average selling price of structural adhesives for wind power will reach about 42,000 yuan/ton in 2020, with a high level of profitability.

The downstream structural adhesives for wind power are concentrated in the wind power field, and the demand is greatly affected by the installed capacity of downstream wind power. As a kind of clean energy, under the strategic goals of carbon neutrality and carbon peaking, the newly installed capacity of wind power will continue to increase, among which offshore wind power will become the main growth force in the wind power field. As the installed capacity of wind power grows, the market demand for structural adhesives for wind power will increase accordingly. It is expected that during the 14th Five-Year Plan period, the demand for structural adhesives for wind power in my country will reach 42,000 tons per year.

Industry analysts said that the technology of structural adhesives for wind power is difficult and the barriers to industry entry are high, so the market for structural adhesives for wind power is relatively concentrated. . Under the strategic goals of carbon neutrality and carbon peaking, the development of the wind power industry will continue to improve. The market for structural adhesives for wind power has a large space for development. At present, Chinese companies have the strength to compete with international wind power structural adhesive companies. Domestic companies are deploying domestically. At the same time, we should also actively expand to overseas markets.