ELMWOOD PARK, NJ - According to a soon-to-be-released study by the consulting firm Kusumgar, Nerlfi & Growney, global consumption of formulated adhesives was 10.24 million tons in 2014 worth $29.4 billion. Volume has increased modestly since the 2009 recession, and a 5% annual rate of growth is forecast through 2019. Growth in Europe and North America is forecast at a mature 2% annual rate while the Asia-Pacific region, led by China, is forecast to expand at an 8% annual rate.
China represented two-thirds of the formulated adhesive volume in the Asia-Pacific region in 2014 and 32% of the global share. Adhesive growth in China is moderating, but a still robust 8% annual rate of increase is forecast through 2019. Japan is the second-largest consumer in Asia-Pacific with 8% of the volume and growth forecast at only 1% per year. India is third in the region with 6% of the volume but will surpass Japan by 2019 owing to its forecast double-digit rate of growth.
Brazil is the leading consumer of adhesives in South and Central American countries accounting for over 60% of the region’s volume. A modest 5% annual rate of growth is forecast for Brazil and the region.
Pressure sensitive products (tapes, labels, decals, etc.) are the largest end use for formulated adhesives, representing 27% of the volume in 2014. Packaging tapes is the largest end use with modest growth prospects, but many specialized applications are growing faster. Packaging is the second-largest adhesive end use with 22% of the volume, and a 4% yearly rate of growth is forecast. Flexible packaging was 15% of the packaging volume and one-quarter of the value and is growing 6% per year.
Woodworking was an outlet for 19% of the adhesive tons and includes furniture, building products and other applications. Construction was the other larger volume adhesive end use with 14% of the volume. The top four formulated adhesive end uses combined for 82% of the volume in 2014 and 63% of the dollars. Smaller, higher-dollar-value end uses include aerospace, electronic, disposable products, windmill blades, etc.
The above information will be part of Kusumgar, Nerlfi & Growney’s soon-to-be-released multi-client study, The Global Adhesives Industry, 2014-2019. Interested parties are invited to contact the company by calling 201/773.0785 or e-mailing nerlfikng@cs.com. Further information can be obtained at www.kusumgar-nerlfi-growney.com.