New Report Projects Growth in Adhesives Market
KONSTANZ, Germany - Adhesives have gained a strong position in more and more production processes. There is hardly any product in our surroundings that does not contain at least one adhesive - be it the label on a beverage bottle, the protective film on an automobile or the profile on window frames.
Market researchers from Ceresana expect revenue of almost $50 billion for the global adhesives market in 2019. Dynamic economic development in emerging countries such as China, India, Russia and Brazil will stimulate further growth in demand for adhesives. The market research institution expects demand to rise by 2.9 percent per annum in the next eight years, meaning that growth will accelerate when compared to the last eight years.
Demand in Asia-Pacific will grow rapidly, as that region has the largest share of global demand, with more than a third of total demand. Ceresana forecasts that Asian countries will gain further shares of the global adhesives market in the future, at the expense of the already saturated markets in the developed countries of North America and Western Europe. Emerging and developing countries already profit by increasing demand, especially in the construction and wood processing industries.
The major product group in the market is adhesives based on vinyls. Almost 3.5 million metric tons of this type of adhesive was needed worldwide in 2011. An above-average growth of more than three percent per annum is expected for the demand for acrylic-based adhesives in the period from 2011 to 2019.
More than half of the adhesives demanded globally in 2011 were water based, and a continuing increase of demand in the next eight years is forecast, as more and more solvent-based adhesives are replaced by other technologies.
The production of adhesives based on renewable biological products will lead to an independence from oil and improve the CO2 balance. Additionally, Western Europe and North America will continue to decrease the emission of VOCs into the environment. The avoidance of solvent-based products will generate growth impulses, mainly in the areas of hot-melts and water-based adhesives.
Numerous investments are enriching the market for adhesives. The strongest demand so far comes from the packaging and construction industries, followed at a notable distance by the wood processing industry. The footwear, leather, transport industries and the production of consumer goods follow in terms of demand. With an estimated growth of 3.4 percent per annum, the construction sector will become the single-largest sales market for adhesives in 2019.
For additional information about the report, visit http://www.ceresana.com/en/market-studies/industry/adhesives-world.
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