CLEVELAND – U.S. demand for specialty adhesives is projected to expand 4.4 percent annually to $3.0 billion in 2013, with volume reaching 705 million pounds. Overall demand will benefit from real (inflation-adjusted) growth in durable-goods output following a period of decline between 1998 and 2008. Among specialty adhesive product types, cyanoacrylates are expected to achieve the fastest gains in market value through 2013, due primarily to rapid growth in the medical field. These and other trends are presented in Specialty Adhesives, a new study from The Freedonia Group Inc., a Cleveland-based industry research firm.
Manufacturing and assembly operations represent the largest major market for specialty adhesives, accounting for four-fifths of demand in 2008. Advances will be fueled by strong growth in the medical products market. The automotive market will also drive gains as motor vehicle output rebounds from the significant declines of the 2003-2008 period.
The on-site construction market is forecast to increase rapidly through 2013, supported by accelerating construction activity. Growth will be fueled by new housing activity, which is forecast to achieve double-digit annual gains as it rebounds from the significant declines of the 2003-2008 period.
Demand for specialty adhesives in other markets is expected to advance at an above-average rate through 2013. These applications encompass the use of specialty adhesives in automotive repair, construction repair and remodeling, and miscellaneous uses.
Demand for Specialty Adhesives to Reach $3 Billion
January 1, 2010