Study Predicts Five Percent Annual Growth Rate for Sealants Market
ELMWOOD PARK, NJ - According to a new study by consulting firm Kusumgar, Nerlfi & Growney, the global consumption of sealants was 3.6 billion pounds in 2011, worth $8.45 billion. Growth is placed at a five percent annual rate through 2016, with the Asia-Pacific region advancing eight percent per year, and North America and Europe each growing at a two percent annual rate.
Europe led in dollars in 2011; its consumption of $3.42 billion represents 40 percent of the global total. EU member countries took 88 percent of the region’s volume, while non-union members such as Russia and Turkey consumed the rest. EU consumption is forecast to grow two percent annually, while non-EU countries are projected to advance at a five percent annual rate.