Study Puts Formulated Adhesives Consumption at $29 Billion
ELMWOOD PARK, NJ - According to a soon-to-be-released study by the consulting firm Kusumgar, Nerlfi & Growney, global consumption of formulated adhesives was 10.24 million tons in 2014 worth $29.4 billion. Volume has increased modestly since the 2009 recession, and a 5% annual rate of growth is forecast through 2019. Growth in Europe and North America is forecast at a mature 2% annual rate while the Asia-Pacific region, led by China, is forecast to expand at an 8% annual rate.
China represented two-thirds of the formulated adhesive volume in the Asia-Pacific region in 2014 and 32% of the global share. Adhesive growth in China is moderating, but a still robust 8% annual rate of increase is forecast through 2019. Japan is the second-largest consumer in Asia-Pacific with 8% of the volume and growth forecast at only 1% per year. India is third in the region with 6% of the volume but will surpass Japan by 2019 owing to its forecast double-digit rate of growth.