/ Case Study

Forest Chemical Enters China Leveraging Altios’ Network and In-Country Experience

Forest Chemical turned to Altios to enter the Chinese market for its adhesives products. Leveraging Altios’ experience and network, the company secured its presence in China and is now poised to expand into new markets in the region.
Summary
When Forest Chemical decided to enter the high-growth market of China, the company turned to Altios. Established in 2009, the Spanish company is on a mission to provide its customers with high-performance, sustainable hot-melt adhesives. Working with Altios’ in-country team, Forest Chemical secured its presence in China and is now poised to enter new markets in the region.
Background
Founded in 2009, Forest Chemical Group is on a mission to provide its customers with high-performance, sustainable hot-melt adhesives. Based in Alicante, Spain, the company serves clients in the Americas, Europe, Africa and Asia. Through its focus on research and development, Forest Chemical is providing innovative adhesive solutions to meet the demands of a new generation of packaging and bonding market needs. Beyond its portfolio of high-performance industrial adhesives, Forest Chemical focuses on growth through its customised hot-melt solutions. The company aims to be an industry reference in solving complex packaging requirements within the food and beverage segment.
Challenge
The hot-melt adhesive market is projected to reach $9.5 billion by 2024, with a compound annual growth rate of six per cent (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. Due to the scope of the project, the company determined that entry into the Chinese market would require a knowledgable partner with experience and a network within the country.
Solution
“It took us quite a while to find the perfect advisory firm who could open China’s doors to us,” said Vega. Forest Chemical’s executives met with the Altios team to discuss the project of expanding into China. “We quickly realised that Altios was in a class of its own, given their experience in the Asian market,” said Vega. 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.
Result
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.

Thanks to our partnership, we can benefit from Altios’ experience and solid logistics of the Asian market.

Sergio Vega
Co-Founder and Director of Operations, Forest Chemical
With the projected growth in Asia, it comes as no surprise that Forest Chemical will continue to establish its presence in the region in part due to the support of the Altios team.
Forest Chemical Group
Founded in 2009, the Forest Chemical Group provides a portfolio and customised high-performance industrial hot-melt adhesives. Based in Spain, the company serves clients in the Americas, Europe, Africa, and Asia. The hot-melt adhesive market is expected to reach $9.5 billion by 2024.
Challenge
Forest Chemical wanted to further its expansion strategy by entering the high-growth, Asia-Pacific region. Due to the potential of the market in China, the company decided first to enter the Chinese market. The company determined it needed a knowledgable partner with experience and a network within the country.
Solution

Working with the Altios team in China, Forest Chemical was able to develop its distribution network throughout the country.

Altios provided talent acquisition, access to meeting support services, and linguistic support.

Result

Since working with Altios, the Spanish company has been able to secure a backlog of orders with Chinese companies.

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