/ Forest Chemical
Forest Chemical Enters China Leveraging Altios’ Network and In-Country Experience
Thanks to our partnership, we can benefit from Altios’ experience and solid logistics of the Asian market.
- The hot-melt adhesive market is projected to reach $9.5 billion by 2024, with a compound annual growth rate of 6% (2019–2024)—an increase driven by the Asian region and specifically China.
- To capture the market potential in Asia, the company decided to enter the Chinese market first.
- “We have the added competitive advantage of being not only an export company but one focused on R&D. Our boundaries keep growing,” said Sergio Vega, Co-Founder and Director of Operations at Forest Chemical.
- Working with the Altios team in China, Forest Chemical was able to develop its distribution network throughout the country.
- Altios provided talent acquisition and access to meeting support services, and their in-country team enabled Forest Chemical to overcome language barriers. “The local Altios team helped us understand and adapt to the Chinese culture, standards, industries, and customs,” said Vega.
- Since working with Altios, the Spanish company was able to secure a backlog of orders with Chinese companies. “Altios is knowledgable on our market and understands our objectives. And they have a wide network of contacts in China,” said Vega.
- With Altios’ presence in key global markets, the Forest Group is well-positioned now to further its expansion efforts in the Asian marketplace and establish its presence in the region.
- The company aims to be an industry reference in solving complex packaging requirements within the food and beverage segment.
Spanish company founded in 2009
Industry: High-performance, sustainable hot-melt adhesives for packaging and bonding market
Target country: China