Table of Contents
US demand to rise 2.8% annually through 2019
US demand for adhesives and sealants is forecast to advance 2.8 percent per year to 6.4 billion pounds in 2019, valued at $12.8 billion. A turnaround in construction activity, combined with the further use of adhesives and sealants in manufacturing and assembly markets, will underpin demand gains. Adhesive bonding will make further inroads in applications historically dominated by mechanical fasteners and other alternative joining technologies, especially as manufacturers continue to lightweight products such as motor vehicles, aircraft, and electronics.
Reactive products to outpace all other types
Emulsion and dispersion adhesives and sealants will remain the leading product type through 2019. The ongoing displacement of solvent-based products is forecast to support increases as end users strive to meet emissions regulations through the adoption of water-based and higher solids formulations. Despite loss of market share, solvent-based products are expected to see above average demand increases, boosted by a rebounding construction sector and product reformulation efforts to improve their environmental profiles.
Through 2019, the fastest annual growth is expected for reactive adhesives and sealants, driven by rising demand in major markets (e.g., manufacturing and assembly, construction), and trends favoring higher value materials. Silicone and polyurethane adhesives and sealants will post the most rapid gains among reactive types, supported by their superior performance characteristics. Hot melt products are also expected to see healthy advances, as their rapid cure rates will continue to promote their use in markets (e.g., packaging) that necessitate fast processing speeds. In addition, hot melt adhesives’ lack of volatile organic compound (VOC) emissions will continue to benefit demand.
Rebounding construction market will fuel growth
Among adhesives and sealants markets, the fastest annual gains are projected for construction, which will recover from the declines of the 2004-2014 period. A turnaround in building construction spending will fuel gains, as will increased improvement and repair activity. Heightened infrastructure spending will boost further growth. Nevertheless, more rapid gains will be restrained by the development of higher performance products with longer replacement cycles. The slowest annual advances are projected for the packaging market, hampered by weakness in the paper and paperboard packaging segment.
Manufacturing & assembly to remain leading market
The manufacturing and assembly market will lead all other outlets for adhesives and sealants through 2019. Within this market, the motor vehicle segment is projected to register the fastest annual growth, as OEMs continue to use higher volumes of adhesives to reduce vehicle weight and lower material and assembly costs. Similar trends are forecast in the aerospace, machinery, and electrical and electronic markets, where adhesives and sealants will continue to displace alternative fasteners. The tapes and labels segment is expected to remain the largest manufacturing and assembly outlet for adhesives and sealants through 2019, driven by healthy advances in the production of pressure sensitive tapes and labels.
This upcoming industry study, Adhesives & Sealants, presents historical demand data (2004, 2009 and 2014) plus forecasts (2019 and 2024) by product and market. The study also considers key market environment factors, examines the industry structure, evaluates company market share and profiles US industry players such as Henkel, HB Fuller and RPM.
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