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Industrial Markets Stuck on Adhesives

Friday, April 20, 2012

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The global quest to keep everything from power plants to cell phones to cars tight and dry will keep the world’s sealant and adhesive markets surging in the years ahead, particularly in the Asia Pacific region, a new market forecast reports.

After several years of slow growth, the adhesives and sealants market is undergoing a period of recovery and rebirth, according to Adhesives and Sealants: Global Markets, 3rd Edition, by industrial and energy market research publisher SBI Energy. The global market was valued at nearly $22 billion in 2011, up from $19.5 billion in 2006.

 The global market for adhesives and sealants was valued at nearly $22 billion in 2011, up from $19.5 billion in 2006.


The global market for adhesives and sealants was valued at nearly $22 billion in 2011, up from $19.5 billion in 2006.

Sealants (both structural and non-structural) comprise the fastest growth sectors of the industry. Structural sealants saw a 3.7 percent compound annual growth rate (CAGR) from 2006 to 2011; non-structural sealants had a CAGR of 3.1 percent in the same period.

Synthetic resin and rubber adhesives represent the industry’s largest market value—more than $10.1 billion in 2011—while natural base glues and adhesives growth has been flat since 2006, hovering at the $1.3 billion mark.

Asian Boom

Eco-friendly bonding agents, structural adhesives and synthetic-based, non-structural, special performance sealants will help deliver a $12.4 billion market to Asia alone by 2016, the report says.

Fueling that demand is the continuing economic recovery in rapidly growing emerging markets in Southeast Asia. Energy conservation and the continued development of renewable energy sources are also creating the need for adhesives and sealants in new products.
The Asian sealant market grew from $85.5 million in sales in 2006 to $123.5 million in 2011, “representing one of the hottest growth segments in the region,” the report says. Adhesives and sealants should see a total CAGR of 4.5 percent for the period of 2012 to 2016 in Asia Pacific, it says.

North American Demand

For now, however, North America remains the largest global market, despite stagnant growth since 2006 due to the downturn in manufacturing. Nevertheless, the North American adhesive and sealant market was valued at $11.2 billion in 2011, said SBI Energy analyst Darren Bosik.

As in Asia, adhesive and sealant growth in North America and Europe is largely tied to mature economies, where rising standards of living and growing middle classes are increasing the domestic consumption of goods.

 Dr. Zhengdong Cheng, professor of chemical engineering professor at Texas A&M University

 Texas A&M

Dr. Zhengdong Cheng, a professor of chemical engineering professor at Texas A&M University, is among the researchers working on developing more effective industrial sealants.

Seven major sectors define the North American adhesives and sealants market, says Bosik. They are construction, packaging, transportation, rigid and non-rigid bonding, consumer goods and tapes.

The report provides market sizing and future growth estimates by product segment and world region. The report includes profiles of major adhesives and sealant suppliers, including Henkel Corp., AkzoNobel, H.B. Fuller, 3M, Bostik Inc., Momentive, Ashland and Illinois Tool Works.

Despite the slow economic recovery in the U.S., SBI Energy predicts that construction activity will remain strong through 2015, bringing growth to adhesive and sealant sales.

“After several years of flat revenues, the adhesives and sealants market is seeing renewed activity,” says Shelley Carr, SBI Energy publisher.


Tagged categories: Adhesive; AkzoNobel; ITW Industrial Finishing; Momentive Performance Materials; Sealers

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