Report Predicts Growth in Demand for Adhesives and Sealants
CLEVELAND - Global demand for adhesives and sealants is forecast to rise 4.5 percent per year through 2019 to 20.2 million metric tons, valued at $64 billion. Strong growth in construction activity will underpin advances, driven by increased urbanization and infrastructure improvements in developing countries, combined with rebounding construction spending in Western Europe and the United States. Expanding manufacturing output, particularly in emerging Asia-Pacific economies, is expected to fuel growth across a number of segments, boosting adhesive and sealant use in packaging, tapes and labels, motor vehicles, electronics, and footwear applications, among others. Increasing adoption of adhesive bonding technologies designed to replace or augment mechanical fasteners will provide additional growth opportunities for adhesives suppliers worldwide, as will the availability of improved, high-performance products. These and other trends are presented in World Adhesives & Sealants, a new study from The Freedonia Group Inc., a Cleveland-based industry research firm.
China’s global dominance in several adhesives-intensive industries, including electronics, footwear, furniture, and machinery, will bolster the country’s position as the top adhesive and sealant consumer through 2019. According to analyst Carolyn Zulandt, “Construction spending will remain robust in China, fueling demand for silicone and epoxy sealants, flooring and wall covering adhesives, and other products.” Suppliers of packaging adhesives will benefit from growing urban populations and improving disposable incomes, which will continue to boost demand for packaged consumer goods sold in supermarkets, online and via other retail outlets.
India is expected to post the most rapid advances of any major market, fueled by robust increases in construction spending and motor vehicle output. In India’s automotive sector, rising motor vehicle sales are fueling output and capacity expansions by major OEMs, boosting sales of epoxies, polyurethanes, and other adhesive and sealant types. Similar trends will also spur demand growth in the auto industries of Thailand and other emerging economies.
World Adhesives & Sealantsis available for $6300 from The Freedonia Group Inc. For further details, contact Corinne Gangloff at 440/684.9600 or e-mail email@example.com.